HSBC Premier Credit Card
Best for Home & Overseas Spend
HSBC Premier Credit Card
On Petrol at Caltex & Shell
For every S$1 Spent
HSBC Premier Mastercard is an exclusive credit card reserved for valued Premier account holders. In a sense, it is how HSBC rewards customers by providing a myriad of perks and benefits. For sure, it is not the same as many credit cards meant to draw in new customers and entice them to avail of their other services.
HSBC Premier Credit Card Rewards
No Annual Fee. Yes, you do not need to pay an annual fee. On this privilege alone, you already save hundreds of Singaporean dollars, year after year.
Generous Cash Rebates. Get a 5% cashback on your daily spend regardless if you are in Singapore or overseas. Mainly, these include dining and food delivery, grocery, petrol, and transportation.
Earn Reward Points. As if cash rebates are not enough, HSBC is also letting you earn one point for every Singaporean dollar spent.
Good Travel Benefits. The HSBC Premier Mastercard provides casual travelers with travel rewards from planning to reaching the final destination.
Increase Rewards with Supplementary Cards. These cards not only provide convenience to your loved ones. They can also avail themselves of the privileges.
HSBC lets you earn back a portion of what you pay in several ways. Enjoy rebates from application to paying for various expenses. For cashback on eligible purchases, you can save up to S$1,800 annually.
- Up to S$350 Cashback When You Apply
- For the primary card:
- S$50 rebate when you make one qualifying transaction from the day your card opened up until the end of the following month.
- S$120 rebate if the qualifying transaction amounts to at least S$500 within the period as stated above.
- S$30 rebate if you use Myinfo via Singpass to apply.
- For the primary card:
- For supplementary card(s):
- S$30 rebate when you make one qualifying transaction from the day your card opened up until the end of the following month.
- S$150 is the maximum you can earn back as you can have as many as five supplementary cards.
- 5% Rebate on Dining
- Food is one of your major expenses. Each time you dine with family, friends or even have food delivered to your home, your HSBC Premier credit card gives a 5% cashback.
- 5% Rebate on Groceries
- Since you will spend on groceries anyway, you might as well save some money with a 5% cashback. You would also be happy to know that the rebate applies to online grocery marts too.
- 17% Instant Discount Plus 5% Rebate on Petrol
- Each time to fill up at any Caltex and Shell Stations in Singapore, you receive an instant 17% discount. Moreover, you also receive a 5% cashback.
- The instant discount, however, is not valid outside Singapore. Nonetheless, you still receive a 5% rebate.
- 5% Rebate on Transportation
- Pay for transport using your HSBC Premier credit card and get 5% cashback. This benefit is valid for trains, buses, taxis, and bookings made on ride-hailing apps.
- Every Singaporean dollar spent entitles you to 1 reward point. The more you spend, the more HSBC points you earn. And, that is not necessarily a bad thing as you can redeem those bonus points on vouchers and merchandise.
Avail of discounted rooms using your HSBC Premier credit card. Aside from that, you can also take advantage of other travel-related perks.
- Online Hotel Booking
- Although the rates may change, you still get extra discounts when you book a hotel room online. At present and up until the end of 2021, you can avail:
- Extra 7% to 15% off Agoda
- Extra 9% to 10% off Expedia
- Traveling in style is not complete if you do not have VIP lounge access. With an HSBC Premier Mastercard, you can visit a participating lounge for a discounted fee of only S$32 per person.
- Stay connected wherever you go. To date, Boingo has over a million hotspots in airports and aircraft, hotels, retail locations, restaurants, cafes, and more – worldwide.By registering with your HSBC Premier credit card, you can connect up to four devices with no data caps.
- Worldwide Travel Insurance
- When you use your HSBC Mastercard to pay for an air ticket, you receive a worldwide travel insurance coverage of up to S$1,000,000. The cover includes not only accidents but also travel inconveniences.
Owning an HSBC account – a Premier account – is as much a lifestyle as a convenience.
- ENTERTAINER with HSBC
- Download the ENTERTAINER with the HSBC app and get over 1,000 attractive offers in dining, wellness, leisure, attractions, and travel – worldwide. And, as an HSBC Premier (and Infinite VISA) cardholder, you get premium access. Other HSBC credit cardholders only get standard access.
- ENTERTAINER perks include, but are not limited to:
- Over 200 discounted offers from well-known brands in Singapore such as Fat Cow, Hoshino Coffee, The Marmalade Pantry.
- 25% discount off total bill at more than 50 express dining merchants. You receive four vouchers per merchant per month. And, you are not going to run out of vouchers as they get refreshed every month.
- Up to 50% discount off wellness, leisure, and attractions from merchants such as Jurlique and BOUNCE Singapore.
- Complimentary stays at more than 150 hotels worldwide. You may also avail of Book 1 Night Get 1 Night Free offers and up to 60% off hotels.
- Staycation Offers
- Pamper yourself (and your family) with luxurious staycations at discounted rates. Besides Agoda and Expedia, you can also get discounts when booking online through Traveloka and Booking.com.
- Online Offers
- Level up the convenience of shopping online by getting additional discounts. Besides Lazada, Shopee, Taobao, and similar portals, you can also shop at many participating brands like Apple and Zalora.
- An HSBC Premier credit card, being a Mastercard, also means that you get access to more perks and benefits. Mastercard Priceless Specials feature special offers from merchants in these categories:
The HSBC Premier Mastercard is a general-purpose credit card that provides all sorts of rewards and benefits. For the majority of customers, it is more than good enough. But for highly discerning consumers and high spenders, premium cards are a better choice.
Briefly, the following lists its strengths and possible weaknesses.
- Up to S$1,800 cash rebate annually
- Perpetual annual fee waiver
- Interest-free period
- Complimentary insurance coverage
- Free supplementary card (up to 5 max)
- Tap & Go for contactless payments
- Eligible for Apple Pay and Google Pay
- Exclusive for HSBC Premier customers and only by invitation
- Bonus cash rebates require a minimum spend of S$600 per month
- Cashback per month has a cap of S$150
How to Apply
21 years old and above
Singapore and Permanent Residents
Self-employed or commission-based income: S$40,000
|Annual Interest Rate||25.9% p.a.|
|Late Payment Fee||S$55|
|Cash Advance Fee||28%|
|Minimum Monthly Spend / Monthly Payment:||3% of the outstanding balance or S$50, whichever is highe|
|Foreign Currency Transaction Fee||2.8%|
- A copy of your NRIC/passport
- Latest original computerized payslip or Tax Notice of Assessment or last 12 months’ CPF statements
- A copy of your NRIC/passport
- Last 2 years’ Income Tax Notice of Assessment
- Last 3 months’ bank statements
- A copy of your passport and work permit (with minimum 6 months validity)
- A copy of utility/telephone bill or bank statement with your name and address
- Income Tax Notice of Assessment and latest original computerized payslip
Disclaimer: This information may differ from what you see when you visit other financial service websites or the product’s official site, but Loan Advisor continues to keep every detail updated and accurate. This site may be compensated through third-party advertisers. However, the results of our comparison tools which are not marked as sponsored will always be based on objective analysis.
How Premier Mastercard Compares with Other HSBC Credit Cards
HSBC offers several VISA and Mastercard credit cards. Generally speaking, though, you can categorize credit cards into three types:
- Air miles
5% cash rebate on dining, groceries, and fuel
1 reward point per S$1 spend
Up to 2.25 air miles per S$1 spend
3.5% cashback on local and overseas purchases (up to S$370)
10x reward points on online purchases and contactless payments
1 reward point per S$1 spend on other purchases
No minimum spend required
Based on the table, you can see that each credit card offers different benefits. Some are similar but to a varying degree. At any rate, choosing a credit card is a personal decision based on your lifestyle, spending habit, and needs.
Our Verdict on HSBC Premier Mastercard Credit Card
What do we think of HSBC Premier credit card? It is exclusive and reserved only for HSBC Premier bank account holders. For home and overseas expenses, it offers solid perks and benefits. Think of it as your go-to card for daily expenses.
However, if you require something more specific, then HSBC has other cards that may be more suitable:
- Revolution credit card for contactless and online spending
- Advance credit card for maximum cashback
- Visa Platinum credit card for the family
- Visa Infinite credit card for a luxurious lifestyle
Why HSBC Premier Customers Should Avail of the Premier Card
It pays to be an HSBC Premier customer. Not only is it easier to make balance transfers with HSBC financial products, but you can also avail of the Premier Mastercard credit card. In a sense, it is unlike others aimed at specific lifestyles, giving you a taste of three worlds.
- It allows you to save money by providing cash rebates. There is no extra cost with regards to annual fees as it is free.
- Premier credit cards also give you the same privileges as rewards cards. Although it may have fewer points, your HSBC card still provides substantial rewards.
- When you earn points, you can also use it for air miles. More than that, you have privileged access to discounted (and even free) hotel bookings and travel insurance benefits.
When it comes to determining the best credit cards you can have, there is no single answer. Because of that, it is normal for consumers to possess multiple cards. The only drawback of having more than one credit card is dealing with different bills and monthly dues.
If you want to save on interest payments, one thing you can do is to consolidate credit card debts. Personal loans, for example, have lower interest rates and can save you hundreds or thousands of dollars. You can get free quotes and see comparisons of different loan offers at the Loan Advisor.
You can have up to five supplementary cards issued. Do note that having multiple cards does not mean you can have separate billings. HSBC, instead, consolidates all transactions, sending only one statement to the primary cardholder.
Eligible spend on any supplementary card rewards points to the primary cardholder. While you share benefits and privileges, you should also ensure the credit limit is enough. That is because additional cards do not have nor increase individual credit limits.
If you need to, you can request a higher credit limit by visiting this page on the HSBC website.
You have to meet HSBC’s criteria for instant approval:
- Be a Singaporean citizen or a Permanent Resident residing in Singapore
- Must be a new HSBC Singapore customer (not holding joint accounts or have an HSBC credit card as a primary or supplementary cardholder)
- Be a salaried employee who has been working with the current employer for a minimum of six months
If you meet the criteria, apply online for a credit card using your mobile phone. Find and download the HSBC Singapore app on App Store or Google Play Store. After installing and running the app, tap on “Start My Application.” Be sure to apply using Myinfo via Singpass.
Although you may have met HSBC’s published eligibility criteria, your application is still subject to other requirements and regulatory guidelines. Hence, if you cannot get instant approval, the best thing to do is to wait 3 to 4 days for HSBC to process your application. If necessary, you will receive a call on your mobile phone requesting more personal details.
You can avail of a cash advance at over 900,000 ATMs worldwide. Specifically, for HSCB Premier credit cards, you can make a withdrawal on any Mastercard/Cirrus ATMs in any of some 120 countries.
Remember that there is a limit to how much cash advance you can make. You can see this cash limit on your monthly credit card statement.
You can make quasi cash transactions using your HSBC Premier Mastercard. These transactions, in essence, represents the purchase of foreign currencies or items, such as:
- Casino chips
- Money orders
- Lottery tickets
- Traveler’s checks
HSBC processes a cryptocurrency transaction under Merchant Category Code 6051 as a quasi transaction. HSBC uses the prevailing rates for cash advance fees and interest charges, but they are subject to change.
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