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Arguably the best Canadian credit card to travel overseas with, the HSBC World Elite® Mastercard® also comes with a welcome bonus offer of up to 100,000 Points. With an impressive earn rate of 6 points/$ on travel and 3 points/$ on all other purchases, and perks like No Foreign Transaction Fees, or $100 Travel credit, the card should appeal to everyone looking to leverage future travel plans. An incredibly straight forward rewards program ensures that cardholders enjoy maximum flexibility in earning and redeeming HSBC perks, be it for Travel, Gift Cards or even Financial rewards. Lets take a look at the card features;

HSBC World Elite Mastercard Apply Now 

 

HSBC World Elite

 

    • Annual Fee: $149 CAD (Annual Fee Rebate for the Primary Cardholder for the first year)
    • Welcome Bonus:
      • Up To 100,000 Points (Apply by January 31, 2022);
        • 20,000 Points as welcome bonus upon approval
        • 50,000 Points with $6,000 CAD spend in the first 180 days
        • 10,000 Points for adding 1st Authorized User
        • 20,000 Points as an Anniversary Bonus
      • Offer for Quebec Residents: Up To 130,000 Points (Apply by January 31, 2022);
        • 20,000 Points as welcome bonus upon approval
        • 80,000 Points with $6,000 CAD spend in the first 180 days
        • 10,000 Points for adding 1st Authorized User
        • 20,000 Points as an Anniversary Bonus
    • Earning Rate:
      • 6 Points per $1 on all eligible travel purchases
      • 3 Points per $1 on all other eligible purchases
    • Additional Benefits:
      • $100 annual travel enhancement credit
      • No foreign transaction fees
      • Unlimited Wi-Fi through Boingo at over 1 million hotspots worldwide
      • Complimentary membership to Mastercard Airport Experiences Provided by LoungeKey, offering access to over 850 airport lounges worldwide
      • 10% discount on select hotel bookings on your card with Expedia and Agoda when you book directly through the HSBC Expedia and Agoda websites
      • Comprehensive Insurance Coverage
        • 31–day insurance coverage – Worldwide Emergency Travel Medical insurance
        • Baggage delay or loss insurance
        • Trip Cancellation and Trip Interruption/Delay insurance
        • Car Rental Insurance
        • Purchase Assurance and Extended Warranty insurance
    • Eligibility Requirements: Annual individual income of $80,000 or $150,000 household income, or minimum of $400,000 in assets under management (based on liquid, investable assets with a financial institutions in Canada).

HSBC Rewards Program

There is a lot to love about a simple and straightforward rewards program, and HSBC Rewards is just that. No mental gymnastics required, and members can earn and redeem directly within the program.

    • Earning HSBC Points
      As seen above, with the HSBC World Elite® Mastercard®, members earn 6 points on every $1 spent towards any travel purchases, and 3 points on every $1 spent on all other eligible purchases.

    • Redeeming HSBC Points
      • Statement Credit – HSBC Mastercard cardholders can redeem points for statement credit towards any eligible travel purchase charged to an HSBC Mastercard. No blackout dates.
      • Convert to Frequent Flyer miles – Cardholders can also choose to convert their points into other airline miles. Currently, the options include Asia Miles (25,000 Points = 8000 Miles), Singapore Airlines Krisflyer (25,000 Points = 9000 Miles), and British Airways Executive Club (25,000 Points = 10000 Miles)
      • Financial Rewards – Cardholders can redeem HSBC Points towards HSBC Personal Finance. The options in this category include;
        • HSBC Mastercard Account Credit: 25,000 Points = $75
        • HSBC Mortgage Account Credit: 25,000 Points = $100
        • HSBC Savings Account Credit: 25,000 Points = $75
      • Gift Cards and valuable merchandise – Last but not least, cardholders can also redeem points towards gift cards such as Esso, Costco, Amazon, and more., and other merchandise on the HSBC Rewards website.

Take Away

I would peg the HSBC World Elite® Mastercard® as a must have for all Canadian wallets. Be it for daily spend or as a designated travel card, the card offers something for all tastes. My personal favorite is the simplicity of the rewards program, and the flexibility to redeem credits towards any eligible travel purchase billed to the card. The $100 travel credit, unlimited Wi-Fi through Boingo, and lounge access through Lounkey membership, are excellent additional perks that make it a well rounded card for Canadian households. 

 

Title Image Credit: HSBC Canada, via Twitter