Next earn rate cut - HSBC Premier World Mastercard

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Supersonic Swinger

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Received notification today from HSBC that on the Premier World Mastercard, earn rates would change:

- domestic spend goes from 1.25 to 1.00 points
- international spend goes from 1.25 to 1.50 points

I think you can elect to have points direct-swept to Qantas but not sure if they have changed that yet.
 
Received notification today from HSBC that on the Premier World Mastercard, earn rates would change:

- domestic spend goes from 1.25 to 1.00 points
- international spend goes from 1.25 to 1.50 points

I think you can elect to have points direct-swept to Qantas but not sure if they have changed that yet.
At least there is no cap per month. Most of the other cards have imposed a $2,500 limit per month on $1 per reward point.
 
Is there anyway to get this card without being a HSBC Premier customer? It seems to be the only decent card HSBC have. I enquired and was told I would have to depost 200K at HSBC to be elligible. Their platinum credit card seems pretty basic to me..
 
Is there anyway to get this card without being a HSBC Premier customer? It seems to be the only decent card HSBC have. I enquired and was told I would have to depost 200K at HSBC to be elligible. Their platinum credit card seems pretty basic to me..


Short Answer: No
 
What's the conversion rate for hsbc points to airlines other than Qantas?

Edit: just re read previous post - was from October - new cuts yet to take effect. I'll keep it on my watchlist.
 
What's the conversion rate for hsbc points to airlines other than Qantas?

Edit: just re read previous post - was from October - new cuts yet to take effect. I'll keep it on my watchlist.

2:1 to Velocity, Asia Miles and KrisFlyer for Premier, while Platinum can only convert 2:1 to Velocity (no SQ/CX).
 
Is there anyway to get this card without being a HSBC Premier customer? It seems to be the only decent card HSBC have. I enquired and was told I would have to depost 200K at HSBC to be elligible. Their platinum credit card seems pretty basic to me..

There are many ways to be premier, I believe even having a home loan can tip you over the qualification. Many benefits to being premier too, anywhere else in the world you can open an HSBC account also become premier based off the first premier account.
 
Was a Premier customer based on being Premier overseas. Just looking at the HSBC premier credit card, seems like direct Qantas its $99 per year for 1 pt per $ and no points cap. Seems a decent earning card. Anyone else recommends this?
 
HSBC haven't yet announced their changes so probably best to hold off submitting an application unless you're chasing a sign up offer.
 
HSBC haven't yet announced their changes so probably best to hold off submitting an application unless you're chasing a sign up offer.

TBH HSBC's earn rates are already so cough that they could probably continue with them post July 1... 0.5/$1 is easily sustainable on the Premier and regular Platinum cards with HSBC Rewards.

With the Qantas Platinum card, the earn rate is also 0.5/$1 except on the first $2,500 of monthly spend where it's 1/$1, so that's only up to 1,250 extra points per month (over the 0.5/$1 rate) for the bank to buy, or 15,000 extra points per year. Assuming those extra points cost 1c each, that's a $150 cost that's perhaps not recovered via the revised interchange fee, against a $199 annual fee.

Boom, $49 profit - and even more so on cardholders who don't even reach the $2,500 threshold each month.

HSBC is also a more obscure bank to most Aussies than banks like ANZ, CBA etc... so most of the people who have this card are the 'informed' type who will likely have an AMEX too, and will primarily use their HSBC card for those times where AMEX isn't accepted - and more often than not, that's at smaller businesses (which will be paying higher merchant fees, even if capped at 0.8% interchange) than at larger businesses (which pay lower merchant fees due to volume), so most transactions are more profitable than via other cards.

Long story short, HSBC could make no changes at all and continue making money - especially now that they're not paying extra costs like buying Qantas Club passes which were removed a few years ago and get to pocket 3% on all foreign transactions (on top of international interchange) without awarding any extra points, which were also ditched along with those lounge passes.
 
Just as an update. The Premier card still earns 1ppd domestically and 1.5 ppd internationally with a 10,000 point per statement limit for HSBC rewards and 1ppd with the same limit for the QF link.

I am churning the Platinum QF card for 60,000 bonus points and then product swapping to the Premier card with QF as a replacement for my BW World QF.
 
Just as an update. The Premier card still earns 1ppd domestically and 1.5 ppd internationally with a 10,000 point per statement limit for HSBC rewards and 1ppd with the same limit for the QF link.

I am churning the Platinum QF card for 60,000 bonus points and then product swapping to the Premier card with QF as a replacement for my BW World QF.

So what is the difference between this card and the HSBC Platinum card? Both can earn 1ppd domestically, but this card has no annual fee going forward.
 
So what is the difference between this card and the HSBC Platinum card? Both can earn 1ppd domestically, but this card has no annual fee going forward.

Premier card is only fee free for the HSBC Rewards option. If you opt for QFF points, it costs $99 which is half the price of the Platinum Qantas card.
 
Premier card is only fee free for the HSBC Rewards option. If you opt for QFF points, it costs $99 which is half the price of the Platinum Qantas card.

I went into a HSBC branch today, and was told after getting the Platinum Visa card, it can't convert its reward points to Asia Miles or Kris Flyer Miles, is this true?

The staff said only Premier Mastercard can benefit from Asia Miles or Kris Flyer Miles conversion.
 
I went into a HSBC branch today, and was told after getting the Platinum Visa card, it can't convert its reward points to Asia Miles or Kris Flyer Miles, is this true?

The staff said only Premier Mastercard can benefit from Asia Miles or Kris Flyer Miles conversion.

I think that is the case. I have the Platinum QFF so can't say for sure what the non-QFF Platinum can convert to.
 
I think that is the case. I have the Platinum QFF so can't say for sure what the non-QFF Platinum can convert to.

Ok thanks very much for your help.

I come from a Wespac Kris Flyer Visa card, and have to pay $250 annual fee end of May, which I am very unhappy about.

Thats why I am thinking about getting a Platinum Visa card from HSBC, given they offer $0 annual fee the first year, and then after 12 months if I spend $6000 a year, I get the annual fee waived.

It will be a huge blow if they don't offer Kris Flyer miles conversion.

I don't need a Qantas card, as I already got the ANZ black frequent flyer Visa.
 
I think that is the case. I have the Platinum QFF so can't say for sure what the non-QFF Platinum can convert to.

The HSBC staff sounded a bit hesistant, but she said only the Premier Mastercard holders can choose to convert to Kris Flyer Miles or Asia Miles, while other card holders haven't got that option at all, despite having a HSBC Rewards Plus account.

That is really strange!
 
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