The HSBC Elite Mastercard is a high-end travel credit card for people in the U.S. who travel often. It comes with many premium benefits that can make your trips more comfortable and save you money. It is an exclusive card, so it is important to understand its features and who can apply for it.
This guide will explain the card’s main features in simple, easy-to-understand language. We will look at the rewards you can earn, the benefits you get, and what it costs to have the card.
What Are the Main Benefits of The HSBC Elite?
This card comes with many great benefits for travelers.
- You Earn a Lot of Points on Travel: You get 5 points for every dollar you spend on new travel purchases. This includes things like plane tickets and hotel rooms. This is a very high number of points.
- You Earn Extra Points on Dining: You get 2 points for every dollar you spend at restaurants. For all other spending, you get 1 point per dollar.
- You Get a Big Welcome Bonus: When you first get the card, you can earn 60,000 bonus points. To get this, you need to spend $4,000 in your first three months. Those points are worth $900 when you use them to book flights.
- You Get Money Back for Your Trips: Every year, the card gives you up to $400 back as a credit on your statement. You get this credit when you book flights, hotels, or rental cars through the HSBC travel website.
- You Get Money Back for Uber and Taxis: The card also gives you up to $10 back each month when you use it to pay for rideshares like Uber and Lyft or for taxis. This can add up to $120 in savings every year.
- You Get Into Airport Lounges for Free: This is a very popular benefit. The card gives you a Priority Pass™ membership. This lets you and up to two guests enter over 1,700 airport lounges around the world for free, as many times as you want.
- There Are No Extra Fees for Traveling: The card has no foreign transaction fees. This means you can use it in other countries and you will not have to pay the extra 3% fee that many other cards charge on your purchases.
- It Protects Your Cell Phone: If you pay your monthly cell phone bill with this card, your phone is protected against theft or damage for up to $800 per claim. This can save you a lot of money if something happens to your phone.
Who Can Apply? (Eligibility Criteria)
This is a premium card, so it is designed for people with a strong financial history. To apply for this card in the U.S., you must:
- Have an excellent credit score (usually a FICO score of 720 or higher).
- Be at least 18 years of age.
- Have a valid Social Security Number and a U.S. address.
- Have a stable and sufficient income.
- It is important to know that HSBC strongly prefers applicants who also have a premium banking relationship with them, called HSBC Premier.
How to Apply
You can apply for this card online.
- Go to the HSBC Website: Find the application page for the HSBC World Elite Mastercard on the official U.S. HSBC website.
- Read the Details: Before you apply, make sure you read all the information about the card, including its fees and benefits, to make sure it is the right choice for you.
- Fill Out the Form: The online application will ask for your personal and financial information. It is secure and straightforward.
- Submit and Get a Decision: After you submit your application, you will often get a decision in just a few minutes.
Simple Questions and Answers
- Can I get this card if my credit score is not perfect?
It is unlikely. This is a premium credit card that requires a good to excellent credit history for approval. - What can I use my points for?
You can use your points to book travel through the HSBC website, where they have a high value. You can also transfer them to many different airline and hotel programs, or you can redeem them for cash back or gift cards. - Is the annual fee charged every single year?
Yes, the $495 annual fee is charged every year you have the card. - Is this a good card if I only travel once or twice a year?
This card is designed for people who travel frequently. If you don’t travel often enough to use the airport lounge access and the annual travel credits, a card with a lower or no annual fee would likely be a better and more cost-effective choice for you.
