The HSBC World Elite Mastercard gives cardholders a complimentary lounge membership, $100 in annual travel credits, and 0% foreign exchange fees. Only the exchange rate will apply.

Annual Fee
$149
Extra Card Fee
$50
Card Type
Credit
Purchase
19.90%
Cash Advance
22.90%
Balance Transfer
22.90%
Personal Income
$80,000
Household Income
$150,000
Canadian resident who has reached the provincial age of majority.
Extended Warranty 1 year
Purchase Protection 90 days
Travel Accident $500,000
Emergency Medical Term 31 days
Trip Cancellation $2,000
Trip Interruption $2,000
Baggage Delay $200
Lost or Stolen Baggage $750
Rental Car Theft & Damage Yes
Rental Car Accident $200,000
Rental Car Personal Effects $1,000

Please review your insurance certificate for details, exclusions and limitations of your coverage.

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Our Review

Need a premium travel credit card with great features, plenty of rewards, and no foreign transaction fees? The HSBC World Elite Mastercard ticks all those boxes.

Here's what makes this card special.

Earning HSBC Reward points

When it comes to earning rewards, HSBC has kept it simple. You'll earn 3 points for every $1 spent on the card, which is doubled to 6 points per $1 spent on travel purchases.

Each point is worth 0.5 cents when redeemed for travel, giving you a return of 3% on travel purchases, and 1.5% on everything else.

Top-notch welcome bonus

The welcome bonus is also superb. Simply make your first purchase on the card, and 20,000 bonus points are yours. Spend $5,000 in the first 6 months, and you'll receive another 80,000 bonus points.

Those 100,000 points will get you $500 worth of travel rewards.

HSBC Rewards program

So what can you do with your HSBC Reward points?

The best way to redeem your points is to use them towards the purchase of any travel charged to the card. This is your best value, with each point worth 0.5 cents each.

However, like many reward programs, there are other ways you can use your points as well.

You can choose from:

  • merchandise,
  • gift cards,
  • experiences,
  • statement credits, and
  • deposits into HSBC bank accounts.

Great perks provided

So what other perks are involved with this card? There are some great features to help save money while you're out travelling.

Here are the major ones offered.

$100 annual travel credit

Any time you fly, you'll be able to save up to $100 just by carrying this card. This annual travel credit can be used towards these costs while flying:

  • baggage fees,
  • airline seat upgrades, and
  • airport lounge passes.

Simply charge the purchases to your card, submit a redemption request, and these costs will be reimbursed into your account.

10% savings on hotel bookings

Want to save on your hotel bill?

When you book hotels with your card on the HSBC Expedia and Agoda websites, you'll be able to save 10% on select hotel bookings.

Comprehensive insurance

Need some travel insurance? This card has you covered. You'll get 11 types of insurance coverage provided at no extra charge.

To view all the insurance coverage details, click on the insurance tab above.

Mastercard Airport Experiences by LoungeKey

Need some lounge access? This card provides free membership to Mastercard Airport Experiences provided by LoungeKey. You'll get access to over 1,000 airport lounges located around the world.

Just note that you have to pay US$32 per person for each visit (but that can be covered by the $100 annual travel credit).

Annual and foreign transaction fees

So what about the fees?

The annual fee is $149, which is typical for premium World Elite Mastercards.

One of the best parts of this card is the foreign exchange fee. Unlike most credit cards that charge an extra 2.5% for purchases made in foreign currency, this one doesn't charge any at all. Save that 2.5% for yourself instead.

A couple of drawbacks

Like all cards, there are a couple of things to keep in mind.

While it offers good rewards, there are other cards out there that will earn more than the standard 1.5% return. To make up for this, make sure you'll be able to make the most out of the perks. That being said, earning 3% back on travel from any provider is really good and not easily matched by other cards.

And since it's a World Elite Mastercard, it has high income requirements of either $80,000 personal or $150,000 household, making it harder to qualify for.

In summary

With the HSBC World Elite Mastercard, you've got a well-rounded card that offers plenty of flexible rewards, a top-notch welcome bonus, and premium perks to save money while travelling.

And to top it off, you'll save even more when you're travelling outside the country. And it's all for a reasonable annual fee of $149.

What are your thoughts?

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