Many individuals dream of having a reliable credit card that has no annual fee for life. Not to mention, people want a credit card that provides them with a world of privileges and rewards.
With the HSBC Premier Mastercard Credit Card, you can enjoy the best of both these worlds.
This card features a bonus points system, air miles, and so much more. To know more about this credit card and how you can apply for one, read on.
Features & Benefits of the HSBC Premier Mastercard
The highlight of this credit card is its accelerated rewards. Under this feature, cardholders can earn 4 bonus points for every P20 spent on their credit card on international purchases or online shopping spends. Moreover, cardholders can get 3 bonus points for every P20 spent at local shops and restaurants. For every eligible spend of P20 everywhere else, individuals can get 1 bonus point.
What’s more, these points can be redeemed in a variety of ways, with free flights being the most popular among all offerings. 1 Asia Mile or 1 KrisFlyer Mile can be redeemed for only 5 bonus points, while 6 bonus points are equivalent to 1 Mabuhay Mile. Other rewards that can be availed include gift certificates and e-wallet credits for shopping, household appliances, or donations to partner charitable institutions.
Travelers who frequently go to different parts of the world will also be given free travel accident insurance and travel inconvenience coverage, alongside unlimited Wi-Fi access, exclusive airport lounge access across 850 lounges located in over 400 airports around the globe, and much more.
A plus of this credit card is that it comes with 0% interest for up to 36 months at select partner establishments. Even better, the HSBC Premier Mastercard Credit Card has no annual fee for life, allowing you to enjoy these benefits at no extra cost.
HSBC Premier Privileges
One of the special privileges of using this card is your access to HSBC Premier Privileges. This is a special program designed to provide the cardholder with exclusive discounts at certain retailers. In particular, the cardholder receives 20% and 25% discounts, respectively, at certain travel accommodations like Meritus Hotels & Resorts and Anantara Hotels Resorts & Spas.
You’ll also receive dining and shopping discounts at retailers and restaurants like Ruth’s Chris Steak House, Alexandre Zouari, Roses Only, and more. These specific discounts are made available only to HSBC customers, and as a Premier cardholder, you can avail of them.
Cons
For individuals interested in availing this particular HSBC offering, a disadvantage would be its exclusivity to premier customers and its high Total Relationship Balance requirement amounting to P3,000,000 or its foreign currency equivalent.
Besides this, the credit card does not offer a welcome gift or bonus, unlike other credit cards on the market.
Eligibility & How to Apply for an HSBC Premier Mastercard
To qualify for the HSBC Premier Mastercard Credit Card, applicants must maintain a Total Relationship Balance (TRB) of P3 million, including deposits and investments in the bank. Bear in mind that for investment products under this financial institution, customers must have a minimum of USD100,000 or its equivalent in local eligible currencies.
To apply, customers may easily fill in the online application form found on the HSBC website. Other application methods include physically applying in branch or emailing the company.
The application form will ask for personal information, including name, mobile number, email address, and your preferred branch of account. After submission, you can expect a call or email from the bank within 3 banking days.
APR & Charges
- Annual Membership Fee – Waived for life for both primary and supplementary cardholders
- Retail Monthly Effective Interest Rate – 3.10% per month
- Cash Advance Fee – 3% of the amount advanced or P500, whichever is higher
- Late Payment Fee – P700 or unpaid minimum amount due, whichever is lower
- Overlimit Fee – P500
- Foreign Currency Transaction Fee – 2.5% of the converted amount
HSBC Bank Address & Contact Information
Individuals interested in further discussing the HSBC Premier Mastercard Credit Card may contact the HSBC Customer Service hotline at +63(2) 85-800 (Metro Manila).
Meanwhile, if you prefer to directly write to the company, the bank’s address is located at 7/F HSBC Centre, 3058 Fifth Avenue West, Bonifacio Global City, Taguig City 1634 Philippines.
You may also course your concerns or inquiries to hsbc@hsbc.com.ph.
Conclusion
Owning an HSBC Premier Mastercard Credit Card is ideal for individuals who want to gain exclusive perks and rewards, as well as people who can easily maintain the bank’s required Total Relationship Balance. If you fit these categories, this card is a great financial tool that can help you achieve your dreams.
Note: There are risks involved when applying for and using a credit card. Please see the bank’s Terms and Conditions page for more information.