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HSBC Premier Credit Card Review: Excellent Travel Rewards With No Annual Fee

Review Updated
Kailey Hagen
Kailey Hagen
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Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
Fact checker

Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation.

The HSBC Premier Credit Card is a versatile travel rewards card that doesn't charge an annual fee. It's only open to those with an HSBC checking account, though. Read our full HSBC Premier Credit Card review to learn more and decide whether it's right for you.

Ratings Methodology

HSBC Premier Credit Card

Great for: Traveling, especially for HSBC Bank members

Rates & Fees External Link Icon
HSBC Premier Credit Card
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Excellent (740-850)
Rates & Fees External Link Icon
Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Excellent (740-850)

Regular APR

21.24% to 25.24%, variable

Rewards Circle with letter I in it. Earn 2× Rewards Points on new travel purchases – including airline, hotels, and car rentals. 1× on all other purchases.

1X-2X Rewards Points

Annual Fee

$0

Welcome Offer Circle with letter I in it. Earn 35,000 Rewards Bonus Points worth at least $400 in air travel – after spending $3,000 in the first 3 months from Account opening.

35,000 Rewards Bonus Points

  • The HSBC Premier Credit Card offers premium travel rewards with no annual fees. But the checking account requirement may turn some away.

    • Great sign-up bonus
    • No annual fee
    • No foreign transaction fees
    • Unlimited miles on purchases
    • Versatile rewards program
    • Only available to those with qualifying HSBC checking account
    • Earn 35,000 Rewards Bonus Points worth at least $400 in air travel – after spending $3,000 in the first 3 months from Account opening
    • 2× Travel Points on new travel purchases – including airline, hotels, and car rentals
    • Earn 1× Points per $1 spent on all other purchases
    • No Annual Fee
    • No Foreign Transaction Fees
    • Competitive Variable APR of 21.24% to 25.24% on Purchases and Balance Transfers 

Credit card comparison

We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.

Offer Our Rating Welcome Offer Rewards Program APR Learn More
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
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= Poor
Best for cash back on rotating categories 		Discover will match all the cash back you’ve earned at the end of your first year. 1% - 5% Cashback Circle with letter I in it. Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.

Intro:

Purchases: 0%, 15 months

Balance Transfers: 0%, 15 months

Regular: 18.24% - 27.24% Variable APR

Apply Now for Discover it® Cash Back

On Discover's Secure Website.

Rates & Fees External Link Icon

Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for cash rewards on everyday spending 		$200 cash rewards Circle with letter I in it. Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. 2% cash rewards Circle with letter I in it. Earn unlimited 2% cash rewards on purchases.

Intro: Circle with letter I in it. 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers

Purchases: 0% intro APR, 12 months from account opening

Balance Transfers: 0% intro APR, 12 months from account opening on qualifying balance transfers

Regular: 19.24%, 24.24%, or 29.24% Variable APR

Apply Now for Wells Fargo Active Cash® Card

On Wells Fargo's Secure Website.

Rates & Fees External Link Icon

Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for unlimited rewards on purchases 		25,000 points Circle with letter I in it. 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases 1.5-3 points per dollar Circle with letter I in it. Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees, and your points don't expire as long as your account remains open. Earn 3 points per $1 spent on travel purchases booked through the Bank of America Travel Center.

Intro: Circle with letter I in it. 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% - 28.24% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers. Balance transfers may not be used to pay any account provided by Bank of America.

Purchases: 0% Intro APR for 15 billing cycles for purchases

Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days

Regular: 18.24% - 28.24% (Variable)

Apply Now for Bank of America® Travel Rewards credit card

On Bank of America's Secure Website.

Full HSBC Premier Credit Card review

This credit card is a good fit for: Frequent travelers and those interested in a versatile rewards program.

Top perks

Here are some of the biggest benefits the HSBC Premier Credit Card provides.

35,000 Rewards Bonus Points

New customers who charge at least $3,000 to their HSBC Premier Credit Card within the first 3 months from account opening will earn a sign-up bonus of 35,000 Rewards Bonus Points. This is worth at least $400 in air travel.

No annual fee

This credit card offers surprisingly good benefits, considering it doesn't cost anything to own. This makes it a great option for those interested in a travel credit card with no annual fee.

No foreign transaction fees

This card has no foreign transaction fees, which increases its appeal to international students and those who frequently travel outside of the United States.

Unlimited 2X points on travel

Customers who use the HSBC Premier Credit Card to book travel accommodations will earn 2X points on these purchases as well as 1X points on other purchases.

Versatile rewards program

HSBC Premier Credit Card holders can redeem their rewards for statement credits, gift cards, merchandise, and travel rewards. It's also possible to transfer rewards points to air miles with participating airline and hotel partners.

Travel insurance

This card comes with travel accident insurance and trip cancellation insurance, as well as coverage for hotel and motel burglaries, lost luggage, and baggage delays.

Up to $85 TSA Pre✓® credit

Every 54 months, cardholders receive a statement credit of up to $85 to cover TSA Pre✓® application fees.

Free global wifi access

Cardholders receive premium unlimited access to Boingo wireless hotspots for up to four simultaneous devices all over the world.

Up to $600 in cellphone protection

This card reimburses cardholders up to $600 per claim for stolen or damaged cellphones.

What could be improved

While the HSBC Premier Credit Card has many perks, it could be out of reach for some. Here's why.

Only available to HSBC Premier Checking account customers

Only those who have an HSBC Premier Checking account with the bank are eligible to open the HSBC Premier Credit Card. The checking account has many desirable perks of its own, but it also has a steep monthly fee for those who aren't able to meet its high minimum balance requirement.

Suggested credit score

The HSBC Premier Credit Card is intended for borrowers with good to excellent credit -- usually a score of 700 or above. However, like all credit card issuers, HSBC takes other factors, like the applicant's debts and income, into account when deciding whether to approve them.

Those who fear they won't qualify for this card should check out some of our other credit card reviews.

The HSBC Premier Credit Card is right for you if:

  • You already have an HSBC Premier Checking account or are interested in opening one.
  • You're interested in a travel rewards credit card with flexible reward redemption options.
  • You frequently travel outside the U.S. and don't want to worry about foreign transaction fees.

Our credit card methodology

At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how Motley Fool Money rates credit cards.

FAQs

  • That depends on what you mean by "hard to get." The HSBC Premier Credit Card is only available to those with an HSBC Premier Checking account, but anyone is free to open one. However, the checking account has a monthly maintenance fee that may scare some people off.

  • No, this credit card does not come with airport lounge access. However, the HSBC Elite Credit Card does include this perk.