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HSBC World Elite Mastercard Review 2023

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The world is open to travellers again and redeeming travel rewards can bring you one step closer to your next vacation.

Every purchase made with the HSBC World Elite® Mastercard® helps you earn points toward travel. The card is especially beneficial for those already travelling frequently with triple the points earned on travel-related purchases, including flights, hotels, Airbnbs, and more. This card is a solid option for your wallet (leather or digital) to make progress toward your next vacation.

HSBC World Elite Mastercard

HSBC World Elite® Mastercard®

Rated 4.6/5 stars.

Our Review

  • Welcome Offer Up to 80,000 points ($400 travel value)
  • Annual Fee $149
  • Interest Rates Purchases: 20.99%, Cash Advances: 22.99%
  • Recommended Credit 660 - 724

Features of the HSBC World Elite Mastercard

The HSBC World Elite Mastercard is a premium credit card, best for those with high monthly spending habits. This card offers a variety of benefits and rewards for cardholders, especially those frequently on the go for business or pleasure. Some of the benefits of the HSBC World Elite Mastercard include:

  • Travel rewards: Earn points for every dollar spent, which you can redeem for travel rewards, such as flights, booking all-inclusive hotel stays, and car rentals. You can also book with your preferred vacation specialist and get reimbursed.
  • Elite benefits: The card offers a variety of elite benefits, such as access to Mastercard Dragonpass airport lounges, free access to WiFi from Boingo, and discounts on luxury hotel suites.
  • Annual travel enhancement credit: $100 redeemable toward select airline seat upgrades, airline baggage fees, and airport lounge passes.
  • No foreign transaction fees: You’ll want to pack the HSBC World Elite Mastercard for your next vacation. Cardholders aren’t charged a foreign transaction fee when using the card abroad; only the exchange rate applies. HSBC removes the hassle of taking out cash on your next vacation and allows you to make purchases worldwide without that additional fee.
  • Insurance: The card offers a variety of insurance benefits, including emergency travel medical insurance up to $2 million, car rental insurance for accidents, theft and damage of items, and purchase assurance for up to 90 days.

How to earn rewards with the HSBC World Elite Mastercard

Earn 6 points for every dollar spent on eligible travel purchases up to $50,000 annually. Includes (but is not limited to) purchases on:

  • Airlines
  • Car rentals
  • Hotels
  • Cruise lines
  • Travel agencies

Earn 4 points for all dollars spent on gas, grocery, and drugstore purchases. All other purchases will earn 2 points per dollar.

Special offer for the HSBC World Elite Mastercard

Here’s a fast way to earn points. HSBC World Elite Mastercard allows you to earn up to 80,000 points (a $400 travel value), offers a rebate for the annual fee for the primary cardholder for the first year (worth $149), and provides you with a $100 annual travel enhancement credit for seat selection, lounge access, etc. This special offer will expire, so make sure you apply before August 31st, 2023. To summarize, the welcome bonus earns:

  • 20,000 points welcome bonus when you make your first purchase ($100 travel rewards value)
  • Earn 10,000 points each month when you spend at least $1,000 each month for the first 6 months of account opening (up to $300 travel rewards value)
  • A first-year annual fee rebate for the primary cardholder ($149)
  • A $100 annual travel enhancement credit

All those bonuses add up to $649 in total value in the first year. Unfortunately, this special offer is not available to residents of Quebec. However, those living in Quebec are eligible for a separate offer.

How to redeem rewards with the HSBC World Elite Mastercard

Redeeming rewards on the HSBC World Elite Mastercard is easy. Log in to your online account and easily browse your reward options.

Cardholders can use points to book a trip through the HSBC travel portal, or redeem points for a credit against travel already booked on the card. The HSBC travel portal is where you can plan out your whole trip. You can search for flights, hotels, and rental cars, and use your points to pay for part or all of your trip.

Another option available to HSBC World Elite Mastercard holders is to convert points to frequent flyer miles with Cathay Pacific, Singapore Airlines, and British Airways. Cardholders will need an account with the partner program to convert points to one of the partner programs points.

Cardholders can convert points into miles with these companies at the following ratios:

  • Asia Miles – Cathay Pacific (25,000 HSBC reward points = 8,000 miles)
  • Krisflyer – Singapore Airlines (25,000 HSBC reward points = 9,000 miles)
  • Executive Club – British Airways (25,000 HSBC reward points = 10,000 miles)

What can I use my rewards for?

Aside from travel rewards, cardholders have alternative options, such as gift cards, merchandise, and HSBC financial rewards.

Here’s how the HSBC financial rewards shake out:

  • 25,000 points = $100 mortgage account credit
  • $75 credit card account credit
  • $75 savings account credit

Other perks if the HSBC World Elite Mastercard

On top of all the benefits listed above, the HSBC World Elite Mastercard also offers:

  • Travel insurance, including car rental insurance
  • Dragonpass Airport Lounge Membership
  • Free access to Boingo WiFi hotspots for up to 4 devices
  • Purchase assurance
  • Extended warranty insurance
  • 10% discount on select hotel bookings when booked directly through Expedia and Agoda websites
  • No foreign transaction fees
  • Mobile device insurance up to $1,000 in case your mobile is malfunctioning, stolen, lost, or damaged — so long as the device was purchased using the card
  • Hotel and motel burglary insurance

Eligibility for the HSBC World Elite Mastercard

To be eligible for the HSBC World Elite Mastercard, you must meet the following financial requirements:

  • 18 years old (19 in some provinces)
  • Canadian citizen
  • Personal income of $80,000 per year or $150,000 in total household income per year
  • Good to excellent credit score (670 – 749)

Fees and interest of the HSBC World Elite Mastercard

Primary cardholders pay an annual fee of $149, and each additional card is free. However, the primary cardholder will have the first annual fee waived with the special offer (excludes Quebec).

The interest rate for the HSBC World Elite Mastercard is 20.99% on purchases (19.99% for Quebec residents), 22.99% on balance transfers, and 22.99% on cash advances (21.99% for Quebec residents).

Pros and cons of the HSBC World Elite Mastercard


  • Rewards accumulate on almost every dollar spent with the card
  • Impressive comprehensive travel insurance, including insurance for lost baggage and car rental insurance
  • Rewards can be used for travel purchases, merchandise, gift cards, or converted to frequent flyer miles


  • High income and credit score for eligibility
  • The high annual fee for primary cardholders

Is the HSBC World Elite Mastercard right for me?

The HSBC World Elite Mastercard is an excellent option for high-income earners who travel frequently for either business or leisure. The card earns fantastic rewards for travel expenses and has won many awards for being one of the best travel rewards credit cards.

Frequently Asked Questions

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