Federal BankThe Premier Mastercard credit card is an exclusive offering by HSBC for its customers who maintain the Premier relationship with the bank in India. As is obvious from the name, the card is powered by MasterCard and is complimentary for the Premier customers of the bank. As introductory benefits, the customers can get complimentary Taj Epicure membership and a free night stay at taj hotels. The card earns you Reward Points at a decent reward rate that are redeemable against various products and airline miles.
You also get many other travel, dining, and lifestyle benefits, such as complimentary airport lounge access, free golf sessions, etc. We have discussed in detail all the features and benefits that come bundled with this card in this article. Read on to learn more about this Premier exclusive offering by HSBC.
HSBC Premier MasterCard Credit Card
Fees
Joining Fee
Renewal Fee
Best Suited For
Shopping |
Reward Type
Reward Points
Welcome Benefits
Movie & Dining
Reward Points redeemable for movie and dining vouchers/tickets on the bank's rewards catalogue
Rewards Rate
For every Rs. 100 spent using this credit card, you will get 2 Reward Points.
Reward Redemption
Reward Points transferable to partner airlines' AirMiles programs, hotel loyalty programs, redeemable for shopping vouchers, products, etc. on the bank's rewards catalog.
Travel
Complimentary airport lounge access, emergency services and international travel insurance.
Golf
Complimentary rounds of golf and discounted fee at premium golf destinations across India
Domestic Lounge Access
6 complimentary domestic airport lounge access under the MasterCard Lounge program
International Lounge Access
LoungeKey membership with 2 complimentary international lounge visits per year
Insurance Benefits
Emergency services and international travel insurance
Zero Liability Protection
Credit cardholders will not be held liable for any fraudulent transaction that takes place through their card post the reporting of loss or theft of the card to the bank.
Spend Based Waiver
N/A
Rewards Redemption Fee
Rs. 50 for every redemption request
Rewards Redemption Fee
Rs. 50 for every redemption request
Foreign Currency Markup
1.99% of the transaction amount
Interest Rates
2.49% per month (or 29.88% annually)
Fuel Surcharge
1% waiver
Cash Advance Charges
Rs. 300 or 2.5% of the amount withdrawn, whichever is higher.
Add-on Card Fee
Nil
- This card is exclusive for HSBC Premier Relationship customers.
- Complimentary Taj Epicure membership.
- 2 Reward Points for every Rs. 100 spent using the card.
- Reward Points transferable to partner airlines’ AirMiles programs and hotel loyalty programs.
- Reward Points redeemable for products, shopping vouchers, etc on the bank’s rewards catalog.
- Lower than usual foreign currency mark-up of 1.99%.
- Fuel surcharge waiver at all fuel stations across India.
- Zero cost liability protection post the time of reporting the loss of card.
- Complimentary airport lounge access.
- Emergency services and travel insurance benefits.
- Complimentary rounds of golf and discounted fee at select golf courses across India.
- Learning offers with partners including British Council, Yousician, eDX.
- No joining/annual fee.
Welcome Benefits
- You get complimentary Taj Epicure membership worth Rs. 25,000 on spending Rs. 10,000.
- You get a complimentary night stay at Taj hotels on spending Rs. 50,000.
HSBC Premier Mastercard Credit Card Rewards:
The cardholders will get 2 Reward Points for every Rs. 100 that they spent using their credit card.
Reward Redemption:
The redemption of reward points can be done as below –
- By transferring them to partner airlines’ AirMiles program (InterMiles, Singapore Airlines, British Airways). The redemption rate is as follows-
| AirMiles Program | Points | AirMiles |
| InterMiles | 3 | 2 JPMiles |
| Singapore Airlines | 2 | 1 Kris Flyer Mile |
| British Airways Executive Club | 1 | 1 Avios Mile |
- can be transferred to Taj Inner Circle hotel loyalty program. 1,000 Reward Points = 1,000 Taj Inner Circle Points.
- for purchasing shopping vouchers, products, etc from the bank’s redemption catalog.
Travel Benefits:
- Complimentary access to domestic and international airport lounges.
- Reward Points are transferable to partner airlines’ AirMiles programs (InterMiles, Singapore Airlines, British Airways) and Taj Inner Circle hotel loyalty program.
Airport Lounge Access:
- With LoungeKey membership, you will get complimentary access to international airport lounges, up to 2 times in a year.
- 6 complimentary visits per quarter to the domestic airport lounges under the MasterCard Lounge program.
Other Lifestyle Benefits:
- Complimentary access and discounted fees at select premium golf courses in India.
- Discount offers with learning partners including eDX, British Council, Yousician.
- Health and wellbeing benefits with global partners including Medical Travel Companions and MedicaMap.
Fuel Surcharge Waiver:
Surcharge waiver of 1% on all fuel transactions between Rs. 400 and Rs. 4,000 at all fuel stations in India.
Lower Foreign Currency Markup Fee:
You have to pay a lower markup fee of 1.99% of the transacted amount while making transactions in a foreign currency. Most other cards charge you a markup fee between 2.5% and 3.5%.
HSBC Premier Mastercard Credit Card Eligibility Criteria:
In order to be eligible for this credit card, one is required to maintain an HSBC Premier relationship in India.
How to apply:
If you have a Premier relationship with HSBC in India, you can apply for this credit card simply by visiting the card’s home page on the bank’s official website and selecting the “Apply Now” option. You’ll need to submit a few documents including an identity/address proof (Aadhar card, Voter card, etc.) and proof of income (salary slips, audited ITR acknowledgment).
Also Check: HSBC Smart Value Credit Card.
Customer Care:
HSBC offers 24×7 helpline to its Premier card holders. In case you need any assistance or to report the loss of card you may simply dial their customer support numbers 1800 266 3456 or 1800 120 4722.
Conclusion:
As this card is exclusive for the Premier Relationship members, it’d be unfair to compare it with other similar cards in the market. Still, since it is complimentary for the Premier customers and offers decent Reward rate and sub-premium benefits, there is no reason to skip this one if you are a Premier customer of the bank.
What do you think of this Premier Relationship exclusive offering by the HSBC bank? Do let us know in the comments. And if you’re an existing cardholder, feel free to share your experience for the benefit of others.
FAQs:
HSBC reward points are valid for 2 years from the date of accrual and expire thereafter.
No, you get only 2 complimentary international lounge access with the LoungeKey membership. Further visits are chargeable at USD 27 per guest per visit.
No, Reward Points can be transferred to frequent flyer programs of select airlines: InterMiles, Singapore Airlines and British Airways.
You get 6 domestic lounge access every calendar quarter under the MasterCard lounge access program.
No, only those HSBC customers who maintain a Premier Relationship with the bank in India are eligible for this credit card.
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