HSBC increasing credit card annual fees on 11/3/25

You are correct. I had originally though that but on receiving the card I decided to recheck and must have misread the terms.

www.hsbc.com.au/content/dam/hsbc/au/docs/pdf/pp_rewards_terms.pdf
Yea it's an annual cap of 120,000 points but the little known loophole is that the Qantas version of the card still earns 1 QFF per $ spent at Qantas even if you reach your 120,000 annual limit.

Clause 6.4 of the below says you won't earn any ordinary [Qantas] points beyond 120,000 per year, but clause 7.2 says you will earn 1 bonus [Qantas] point for every $ spent at Qantas. Since HSBC make a distinction between ordinary points and bonus points, it means you can still earn Qantas points beyond the annual cap albeit restricted, but still possible.

 
Yea it's an annual cap of 120,000 points but the little known loophole is that the Qantas version of the card still earns 1 QFF per $ spent at Qantas even if you reach your 120,000 annual limit.

Clause 6.4 of the below says you won't earn any ordinary [Qantas] points beyond 120,000 per year, but clause 7.2 says you will earn 1 bonus [Qantas] point for every $ spent at Qantas. Since HSBC make a distinction between ordinary points and bonus points, it means you can still earn Qantas points beyond the annual cap albeit restricted, but still possible.

It is.important to distinguish between the Qantas terms and the Reward Plus terms (the link posted earlier):
The number of ordinary points that can be earned in respect of your account is capped when the total value of your net purchases in each 12-month period reaches 120,000 AUD. The 12-month period is not based on a calendar year but resets on the next anniversary of your account opening date, and on every anniversary thereafter.
..
We will award 1.5 ordinary points for each whole 1.00 AUD of the total value of your net purchases at the end of each statement period(rounded up or down to the nearest dollar).
 
To those of you who have applied and got the HSBC USA Premier account, how did you all bypass the part where you have to submit documents to prove that you have a property in the US, student / work visa etc ?
 
Hi Guys, I'm not a fan of paying high AFs and I know there's a whole thread on the Star Alliance card. I am considering migrating to the Star Alliance card with this current AF increase across all HSBC cards. Is there something I'm missing?
 
Anyone know if it’s easy enough to switch from the Premier Qantas to Premier Rewards. Might shift allegiance to KrisFlyer
 
Anyone know if it’s easy enough to switch from the Premier Qantas to Premier Rewards. Might shift allegiance to KrisFlyer
Just a phone call, I'd expect. You may need to wait until the end of the statement period before they can cut over and close out any QFF points pending.
 
Anyone know if it’s easy enough to switch from the Premier Qantas to Premier Rewards. Might shift allegiance to KrisFlyer
It is clearly set out in section 4 "Switching from the HSBC QantasRewards program to HSBC RewardsPlus" in the terms here:


I'd suggest waiting for an end of statement period and not doing any further spend until the Qantas points have been fully transferred. Otherwise you run the risk of forfeiting them as per 4.1(d).
 
Has anyone been charged the new annual fee yet on their HSBC Premier Mastercard? Haven't seen it on mine even though the email says mid-march.
 
Beware, my wife got her card in January 2024 and they just charged her the annual fee this month in April. Trying to complain to HSBC now as wanted to close the account and saw the charge.
 
Beware, my wife got her card in January 2024 and they just charged her the annual fee this month in April. Trying to complain to HSBC now as wanted to close the account and saw the charge.
I suspect that anyone who got their cards in the month of January, February or before 11 March will have this issue. My card was issued October 2023 but I haven’t been hit with the annual fee.
 
Checking back on whether and when people are seeing the fee/s for their HSBC Premier World MC; if any have one? My card expiry month is November, so I think they would issue the fee in Oct or Nov. I've just had the statement for Sep and it's not on that one. Plan was to use it up until it the fee is billed, and then cancel before the new term commences and move to another, better value card (i.e. AmEx Qantas Ultimate)
 
Checking back on whether and when people are seeing the fee/s for their HSBC Premier World MC; if any have one? My card expiry month is November, so I think they would issue the fee in Oct or Nov. I've just had the statement for Sep and it's not on that one. Plan was to use it up until it the fee is billed, and then cancel before the new term commences and move to another, better value card (i.e. AmEx Qantas Ultimate)
ISTR annual fees are charged on the statement date of the anniversary month.

Anyway, from the product landing page:
7 said:
The annual fee is $199 for the HSBC Premier World Mastercard with the HSBC Rewards Plus program or $399 for the HSBC Premier World Mastercard with the Qantas Rewards program and are subject to change. However, it will be waived in the first year (i.e., the annual fee is $0 in the first year). The annual fee will be debited for the first time on the first statement of account following the 12-month anniversary of the first debit transaction on your account, and annually thereafter. The waiver ($0 annual fee in the first year) does not apply to existing HSBC customers transferring from another HSBC credit card.
 

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