Introduction: Enjoy the benefits of being a premier banking customer of HSBC with a relationship manager completely dedicated to catering every financial requirement of yours. You can have a financial plan or strategy created just for you, with the support of HSBC whenever required. An HSBC Premier MasterCard Credit Cardholder will be able to receive excellent privileges on shopping, dining, travelling and many more. You can reach for the skies by making use of HSBC Premier MasterCard credit card which has been designed mainly for complementing your energetic lifestyle. By using the excellent rewards program, this credit card will offer the best for the customers of premier banking throughout India. Below is the HSBC Premier Credit card review.
HSBC Bank Premier MasterCard credit card benefits, features
As part of the services of Premier banking, the below benefits are provided on a HSBC Premier MasterCard Credit card.
HSBC Bank will provide a Relationship Manager for every cardholder for financial planning and also provide advice on investments. This card is supported by a specialist team of wealth management, the tool called “Goal planner” will provide wealth solutions which are custom made to all the customers of premier banking. Management of the personal economy of the customer is a simple task with various digital solutions additionally given by HSBC.
HSBC Premier MasterCard credit cardholders will be able to enjoy preferential access along with benefits and lifestyle privileges which are custom made.
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The customers of Premier Banking will be able to get welcome benefits from HSBC Bank in the form of gift vouchers from Amazon which are worth an amount of Rs.7,200/- for a purchase value of an amount of Rs.1,000/- within the first two months of issuance of cards.
Solutions anytime and anywhere
Premier customers will be able to access their amounts on credit card from anywhere across the globe by making use of the facility of internet banking. HSBC bank will also provide customer service 24/7 to the cardholders for any queries which are related to their credit card accounts. Cardholders will also be able to create requests for any replacements of the card on an emergency and any emergency cash at any of the branches of HSBC. This emergency replacement of cards will be done within 24 hours.
Access to Airport lounge
Every cardholder of HSBC Premier MasterCard credit card will be able to receive VIP access to almost 600 airport lounges throughout India and worldwide. You can check the HSBC Premier lounge list in its official website. Customers will also be able to receive a membership which is worth an amount of $99 to the program of Priority Program thereby receiving access to lounges of luxury airports. You will be able to enjoy two access to airport lounges as a complimentary in one year which is worth an amount of $25 each. After the completion of two complimentary visits, you can access the lounges by making payment to the required lounge fees along with taxes. Extra guests will be charged with a fee worth an amount of $27 per visit.
You will also be able to enjoy MasterCard lounge access at several international and domestic airport terminals present in India. HSBC Bank will provide a maximum of six airport lounge access as a complimentary in one quarter with only one entry allowed at once.
Benefits of Golfing
HSBC bank will provide access to premium golf courses present throughout India and to almost 2000 golf courses across the world with complimentary membership to Golf fee card and green fees which is discounted. You will be able to receive up to two golf games as a complimentary in a month, with a maximum of five games per year throughout golf courses which are partnered with HSBC bank. Moreover, 24/7 concierge services on golf are also provided to you.
Movie freaks will be able to receive a 50% cashback when they are using their HSBC Premier MasterCard Credit cards for purchasing movie tickets at PVR cinemas. The maximum amount of cashback provided in a month would be an amount of Rs.500/-.
Privileges on lifestyle
You will be able to redeem the collected reward points with top brands such as MakeMyTrip, Jimmy Choo, Boss, Tumi, Apple, Croma and other partnered stores. HSBC Bank will also provide good discounts on designer brands for Premier Cardholders.
The world has brought to you on a Premier Credit card platter. HSBC Bank Premier MasterCard Credit cardholders will be able to receive excellent privileges on dining with discounts up to 20% at good dining restaurants across India and also the world.
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Premier customers will be able to receive discounts and gift cards when they are shopping at designer boutiques and merchant stores by making use of HSBC Premier MasterCard credit card throughout the globe.
Heath, wellness and beauty
Every experience with this credit card will be unique with customers receiving the best offers on the products of Health and beauty, packages of fitness and spa treatments.
A waiver on fuel surcharge
Cardholders of HSBC Premier MasterCard credit card will be able to receive a waiver of 2.5% on a surcharge of fuel which will be ranging between the amounts of Rs.400/- to Rs.4,000/-. You can purchase fuel at any of the petrol bunks present throughout the country to use this waiver. This waiver on fuel surcharge will be valid across the year for the premier banking customers. You will not be able to accumulate reward points on the transactions of fuel which includes this waiver.
Transfer of balance
You will be able to transfer the outstanding balance amount in a convenient manner above the amount of Rs.3,000/- from any of the credit card from other banks to a HSBC Premier Mastercard credit card. HSBC bank will provide the customers with the excellent benefit of getting a balance transfer with a rate of interest of 0% for the starting three months. Moreover, you will also able to repat at a less rate of interest of 18% per year on the monthly instalments. You will also be able to repay the amount with flexible tenures which range between 6,12,18 and 24 months. HSBC bank will provide the facility of balance transfer through phone banking on the internet.
Customers of this credit card will be able to make online transactions for purchases secure, they can consider paying their utility bills, and also get the bills of their credit card as e-statements delivered to their respective email addresses.
The loan provided on the phone
Members of Premier banking will be able to make purchases of high value and convert them into monthly instalments in a convenient manner by making use of the feature of “Loan on Phone”. A minimum amount of purchase of Rs.1,000/- is needed to get this facility. Cardholders will be able to use the loan on phone feature by getting in touch with the phone banking service of HSBC Bank within 15 days of purchase. Repayments for the loan which is converted can be made with tenures ranging between 6,12,18 and 24 months at a rate of interest which is low at 1.5%, calculated on a monthly decreasing balance basis. All the EMIs will be charged to the credit card of the customer account. A processing fee of 2% which would be subjected to a minimum amount of Rs.100/- would be charged for the first time the payment of a monthly instalment is done.
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Offers all around the year
Customers will be able to receive several offers from HSBC across the year when they are using their HSBC Premier MasterCard Credit cards. Some of the key benefits have been listed in the below points
- You will be able to receive one ticket for free for every movie ticket purchased on the application of BookMyShow. You will also be able to enjoy several family entertainment benefits available at the theme and entertainment parks.
- Activities which are booked on the ClearTrip will get you a 50% savings when you are purchasing using the HSBC Premier Mastercard Credit card.
- You will be able to receive discounts of 10% on admission tickets at Ocean Park of Hong Kong.
- You will be able to receive a gift voucher of up to an amount of up to Rs.500/- for the bills of dining at selected dining restaurants. Also, you will be able to receive special offers from restaurants, when the payments are made by making use of the HSBC Credit cards. You will be able to receive additional reward points at selected Indian cities when you are making purchases using the HSBC Premier MasterCards Credit card.
- Bookings which are made on the application of MakeMyTrip will give you a cashback which would range between the amounts of Rs.300/- to Rs.4,000/-.
Options of EMI
Purchases made of high value by making use of this credit card can be converted into EMIs at the merchant stores and you can repay them in flexible tenures which range between 3,6,9,12,18 and 24 months. There will not be any fee for processing fees levied and cardholders will be able to receive reward points on their EMI transactions.
Protection of online protection/liability of lost card
HSBC Premier MasterCard credit card customers will be able to receive coverage of up to 24 hours before reporting the card loss for an amount of up to Rs.3 lakh. The insurance for lost card liability will be available only for the primary cardholders.
HSBC Bank will provide online fraud protection for an amount of Rs.3 lakh. If there is any misuse of your credit card online, then the claim made for the fraud will be reported within 15 days from the statement period end date as per the statement of the credit card. Both the insurance covers will be provided by TATA AIG General Insurance Company Limited to the customers of Premier Banking.
- HSBC Bank will provide customers of Premier Banking into a world of excellent gifts and rewards provided as part of the excellent rewards program.
- Cardholders of Premier Credit card will be able to receive two reward points for each amount of Rs.100/- spent by making use of their HSBC Premier MasterCard Credit cards.
EXTRA points Program
The program of EXTRA points from the HSBC Bank will help the customers of Premier card receive rewards more quick at partnered EXTRA stores. Each time a purchase is made by making use of the HSBC premier credit card, EXTRA points can be received.
Redemption of reward points
Customers of Premier credit card will be able to redeem collected rewards for several options which include vouchers, garments, home appliances, beauty products, air miles and donations too. Redemption of reward points can be made from the rewards catalogue online.
Cardholders will be able to redeem the points for KrisFlyer Miles with Singapore Airlines and also for Taj Inner Circle points.
Cardholders will be able to use the 24×7 Premier Emergency Hotline for blocking the cards which are lost, place request for card replacement or an emergency cash advance throughout 200 countries across the world. The emergency cash advance can be received if the delivery of the card which is replaced is pending.
- Proof of identity like your passport information page, aadhaar card, PAN card etc.
- Address proof like your Aadhaar card, driving licence
- Income proof like salary slips or Form 16.
HSBC Premier Credit card Eligibility
- All the applicants should have the minimum age of 21 years and they should earn a minimum income of an amount of Rs.5 lakh per annum.
- HSBC Premier MasterCard credit cards are provided depending on the Total Relationship Balance of the customers of Premier banking in India. A certain criteria of an amount of Rs.25 lakhs for 3 months has to be maintained by a customer. The Total Relationship balance will be calculated depending on the below factors
- The average balance held in the fixed deposit of HDFC bank for 3 months.
- The market value of investment of customer or the value of net purchase on a quarterly basis.
- Value of Life Insurance premium which is paid.
- The market value of the Demat holding which is held in the depository account of HSBC bank.
The balance which is maintained in accounts which belong to family members can also be considered for meeting the criteria of TRB.
Fees and charges of HSBC Bank Premier MasterCard Credit card
- Annual fee and joining fee on this card is charged based on the Premier relationship of HSBC bank.
- Fees for the cash advance is 2.5% of the amount of transaction which would be subjected to a minimum amount of Rs.300/-.
- The interest-free credit period is up to 52 days.
- Payment due date from the date of statement is 22 days.
- Finance charges on the extended credit are 2.49% per month. This would be calculated from the transaction date.
- Minimum amount due is 5% of the total outstanding statement balance amount which would be subjected to a minimum amount of Rs.100/-.
- Limit of cash advance is a maximum of 60% of the limit on the credit card.
- Charges for cheque bounce is an amount of Rs.350/-.
- Charges for duplicate statements is an amount of Rs.100 per statement.
- Fee for over-limit is an amount of Rs.500/- per month.
- Fee for replacement of card within India is an amount of Rs.100/-.
- Fee for late payment is 50% of the minimum amount due which is subjected to a minimum amount of Rs.400/- to the maximum amount of Rs.750/- per month.
- Charges for the redemption of reward points is an amount of Rs.50/- per redemption.