THIS OFFER HAS NOW EXPIRED
Today is the last day to apply for the elevated offer of 40,000 points for the HSBC World Elite Mastercard. As of tomorrow the standard welcome offer of 20,000 points with an annual fee will be back. By no means does this 40K offer come close to the 100K offer they ran
for the last four months of 2020 and we are hopeful a bigger bonus will be seen from them in the near future. If you do need to the grab the card sooner than later then go for it today as it provides up to 40,000
bonus HSBC Rewards Points along with having the first
year $149 annual fee waived on the primary card. The bonus is awarded
- 20,000 Point Welcome Bonus on your first purchase
- 20,000 when you spend $5,000 in the first 180 days
The 40,000 points once achieved are worth $200 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
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 16,000 Avios in British Airways’
Executive Club although I would only convert them when HSBC runs their
transfer bonus promotion which we several times per year. The last
transfer bonus was this past November and it offered a 35% boost.
Here are some options
to check out that you can utilize with British Airways:
- How to get select Canada to U.S. award flights faster by utilizing British Airways’ Executive Club
- How you can easily get a free flight between Toronto and Dublin, Ireland (pre taxes/fees) or 4 flights for $240+fees
The card also features No Foreign Transaction
fees which is a big deal right now if you do a lot of online shopping
from the U.S. plus it also comes with a $100 annual travel enhancement
credit (to use
on bag fees, seat selection etc) and like all World Elite Mastercards
in Canada it has airport lounge access membership via LoungeKey.
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 40,000 points worth $120 in cash back rebates.
this offer is nowhere near the 100,000 points seen at the end of last
year or even the 60,000 points seen prior to that. We are hopeful to see one of those offers come back soon!
I would also recommend
reading our review of the card.