Monday, March 30, 2020

New HSBC World Elite Mastercard offer - Up to 60,000 bonus points + first year annual fee waived (90,000 points + annual fee for Quebec)


HSBC's latest offer for their World Elite Mastercard is out now and it is one of the better ones for this card. This offer is very similar to the offer we last fall however they have made the bonus based on a flat rate spend of $5,000 instead of a per dollar multiplier.


 A little background on this card - this is not their 'Premier World Elite' which is meant for people who bank at HSBC but rather this card is for any Canadian and it is essentially the same as the Premier version. When HSBC launched this card in 2018  it became obvious they didn't want to only market their credit cards to those who bank with them, rather they wanted to get into the entire lucrative Canadian credit card market.  To learn more about this card outside of this bonus offer I would recommend reading our review of the card

From now until June 29th you can apply for the HSBC World Elite Mastercard and get up to 60,000 bonus HSBC Rewards Points along with having the first year $149 annual fee waived on the primary card.  The bonus is awarded as follows:

  • 20,000 Point Welcome Bonus on your first purchase
  • 40,000 when you spend $5,000 in the first 180 days
The 60,000 points once achieved are worth $300 in travel rewards but this card isn't just a travel points card, it is actually a Hybrid Card. This means points can also be converted to partners outside of HSBC Rewards. In this card's case, they can be transferred to British Airways Executive Club, Cathay Pacific Asia Miles or Singapore Airlines KrisFlyer. The points convert as follows:
  • 2.5 points to 1 Avios
  • 3 points to 1.35 KrisFlyer Miles 
  • 3 points to 1.2 Asia Miles 
This means the sign up bonus is worth 24,000 Avios in British Airways' Executive Club which if you have followed us for sometime now know that is a good amount for a lot of various redemptions.

Here are some options to check out
The sign up bonus isn't the only good feature about this card however. It is one of only eight cards in Canada that has No Foreign Transaction fees, it also comes with a $100 annual travel enhancement credit (to use on bag fees, seat selection etc) and like most World Elite Mastercards in Canada it has airport lounge access membership via LoungeKey.

Recommend Reading: No Foreign Transaction Fee Credit Cards for Canadians 
& The Ultimate No Foreign Transaction Fee Credit Card Portfolio

Now, with travel being curtailed due to the Coronavirus pandemic you may be more interested in cash back options to help with your financial situation and this card does have that option. The points can also be redeemed for many other non-travel items like merchandise, experiences, gift cards, HSBC financial products and even for any purchases made on the card. HSBC calls this last option their Cash Back Rebate and is 25,000 points for a $75 statement credit. That works out to a 0.9% to 1.8% return (based on 3 points for everyday spending and 6 points for travel) and also makes the welcome bonus of 60,000 points worth $180 for cash back rebates.


Here are the most current details for this card:
Also note the first year free waiver option is not available for Quebec residents so instead they offer up to 90,000 bonus points for getting the card and simple holding on to it. The offer for Quebec is as follows:
  • Welcome Bonus 20,000 Points ($100 travel value)
  • Receive an additional 70,000 Points ($350 travel value) if you keep your account open and active for 180 days.
  • Must apply by June 29, 2020. Conditions Apply

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