WealthRocket is reader-supported. When you buy through links on the website, we may earn an affiliate commission.

HSBC World Elite Mastercard Review 2023

padlock icon

Why you can trust us

The team at WealthRocket only recommends products and services that we would use ourselves and that we believe will provide value to our readers. However, we advocate for you to continue to do your own research and make educated decisions.

HSBC World Elite Mastercard

HSBC World Elite® Mastercard®

Rated 2.9/5 stars.

  • 3% Earn 3% back in travel rewards on travel-related purchases.
  • 2% Earn 2% in travel rewards on gas, grocery, and drugstore purchases.
  • 1% Earn 1% on all other purchases.

  • Welcome Offer None
  • Annual Rewards $310 Learn how we calculate this.
  • Annual Fee $149 (first year waived)
  • Minimum Income Required Individual: $80,000 Household: $150,000

The Royal Bank of Canada (RBC) will be purchasing HSBC Canada. As a result, HSBC products will be discontinued shortly. Please refer to the best credit cards in Canada for alternatives.

Are you looking for a credit card that will 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.

In this HSBC World Elite Mastercard review, we’ll break down all the information you need about rewards, eligibility, perks, and more.

HSBC World Elite Mastercard: an overview

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.

HSBC World Elite Mastercard rewards

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 every dollar spent on gas, grocery, and drugstore purchases. All other purchases will earn 2 points per dollar.

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. You can also book with your preferred vacation specialist and get reimbursed.

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)

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

HSBC World Elite Mastercard eligibility

To be eligible for the HSBC World Elite Mastercard, you must:

  • Be the age of majority in your province or territory
  • Be a Canadian citizen
  • Have a personal annual income of $80,000 per year or $150,000 household
  • Have a good to excellent credit score (670 – 749)

HSBC World Elite Mastercard interest rates and fees


  • Annual fee: $149 (rebated for the primary cardholder for the first year)
  • Foreign transaction fee: None
  • Extra card fee: $0
  • Cash advance fee: $5

Interest rates

  • Purchases: 20.99% (19.99% if you live in Quebec)
  • Cash advances: 22.99% (21.99% if you live in Quebec)
  • Balance transfers: 22.99%


HSBC World Elite Mastercard perks

The HSBC World Elite Mastercard comes with a host of other perks, including:

  • 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.

  • 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, mobile device insurance, hotel/motel burglary insurance, extended warranty, and purchase assurance for up to 90 days.

  • 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.

Compare HSBC World Elite Mastercard alternatives

Our Pick
HSBC World Elite Mastercard

HSBC World Elite® Mastercard®

  • Welcome Offer None
  • Annual Rewards $310
  • Annual Fee $149 (first year waived)
  • Minimum Income Required Individual: $80,000 Household: $150,000
ScotiaGold Passport Visa

Scotiabank Passport Visa Infinite

  • Welcome Offer Up to 35,000 SCENE points
  • Annual Fee $150
  • Interest Rates Purchases: 20.99%, Cash Advances: 22.99%
  • Recommended Credit 660-724
Scotiabank Gold AMEX

Scotiabank Gold American Express Card

  • Welcome Offer Up to 40,000 Scene+ points
  • Annual Rewards $700
  • Annual Fee $120
  • Minimum Income Required $12,000

Our final thoughts

The HSBC World Elite Mastercard is an excellent option for high-earning travellers. With no foreign transaction fee, those travelling for either business or leisure can rest assured they won’t be charged extra for purchases made abroad. The card earns fantastic rewards for travel expenses and has won many awards for being one of the best travel rewards credit cards.

If you’re not a frequent traveller with a high income, however, there are better options. The card has a high annual fee and high income requirements for eligibility.

Related Articles

WealthRocket branded image for CIBC Aeroplan Visa card for students

CIBC Aeroplan® Visa* Card for Students Review 2023

Barry Choi November 23, 2023

Read more
EQ Bank Card branded image for WealthRocket

EQ Bank Card Review 2024

Sandra MacGregor January 25, 2024

Read more
brand image for cibc dividend visa infinite card

CIBC Dividend® Visa Infinite* Card Review 2024

Steven Brennan March 15, 2024

Read more
bmo air miles mastercard in front of green ribbon and gold coins

BMO Air Miles Mastercard Review 2023

Sandra MacGregor November 1, 2023

Read more
Image of the SimplyCash Preferred Card from American Express

SimplyCash® Preferred Card from American Express Review 2023

H.G. Watson October 23, 2023

Read more
Image of Neo Secured Credit card with ribbon and gold coin in background

Neo Secured Credit Card Review 2023

Rachel Morgan Cautero October 25, 2023

Read more