HSBC Premier World Mastercard

Terrible experience as I made a typo on repayment amount, paid $5 less full payment. Then I was interest charged $14 as penalty, followed by interest charge on every single dollar spent within 55 days after the miss. It's all running at the background without giving you any notice, until a statement arrives. Not until I spent 15min getting to… Read more

their chat I was told all about this. The customer service simply copy and paste all T&C like robot. You should really know how to ask the questions to get a proper answer from them.

I paid full straight away. But the payment could not be made at weekend, and could only be counted on the following Tue. Before then you expect interest charge is still running. So much stress!

While they suggest this can be avoided by setting up Direct Debit, funny is they do old school with print, sign, and postal. They try to stress you by all mean. You need to be smart enough to use this card.

A good card for Qantas points earning on daily spend up to $10k/month. There are better cards for overseas use – We've used the HSBC Premier (Qantas) card for the last 7 years for all of our daily household spending and big purchases, and have generally found it good. We rarely use cash now - most things go to this card. Positives: - Qantas earn rate is good value for the annual fee. I regularly check the market for points-earning Qantas cards and continue… Read more

to find this card the best value at $99 annual fee for 1 point per dollar, capped at 10,000 points per statement cycle. There are cards with slightly higher earn rates (e.g. Amex or Qantas offer 1.25 pts per dollar, but the annual fee is MUCH higher and many similar monthly caps). - Free travel insurance. The free travel and car hire excess insurance is good value - provided you closely read the eligibility rules (you need to book the cost of the travel to the card). - Large credit limit. I was given a $70k credit limit on this card, which is far higher than I've been offered from others. Whilst I've always cleared the balance by direct debit and rarely have a bill of more than $20k, it's handy to have a lot of headroom - and I have occasionally paid for something big like a car using the card. - Disputes/reversals were handled quickly during COVID. During 2020 I had a load of flights cancelled in Europe and got the runaround from a bunch of airlines (especially Ryanair) who were stonewalling on a full refund (they kept offering travel credit even though consumer law said full refund). I submitted the transaction dispute form to HSBC, and the money was reversed on to my card account within a week. This reflects positively on HSBC.

Negatives: - The points earning used to be uncapped, but for the last few years has been limited to 10,000 per month. This seems a bit stingey given we probably spend $150-200k/year through the card. - Despite the marketing as a 'World Mastercard' there is quite a high charge (2% from memory) on overseas transactions - which means I use another card (Bankwest Platinum) when I'm overseas and/or for overseas internet shopping/subscriptions. - A laggard on technology and open data. The HSBC app on the phone, and the website remains well behind the best FinTechs. Payments from my HSBC current account take 1 day to reflect on my HSBC credit card account, whereas other banks can do this in realtime. I've also tried to use some of the apps like Frollo to do detailed analysis of our spending patterns, and have found this sometimes works for a short while before theres a technical issue with the API. It feels like HSBC are dragging their feet on embracing open data. - Customer services are 'ok' - but offshore and sometimes my use of native English gets lost in translation.

A decent enough card, but nothing to write home about – I've got this card as part of my mortgage package with HSBC which means I don't pay any annual fees. I've also set up a direct debit so that the full amount is repaid every month, so the interest rate is not a factor for me. As its a Mastercard, it's acceptable just about everywhere which makes it easy to use. The online portal is simple enough to… Read more

navigate and use, and I haven't needed to contact Support at all. There is a Rewards program connected to the card, but I haven't redeemed anything and thus far, the rewards earn rate seems quite low. Additional card holder was easy to set up and there is some travel insurance benefit linked to the card as well, but I haven't used this as yet. Overall, it's not a bad card if you're getting it as part of a banking package but I wouldn't otherwise recommend it.