HSBC Revamps Premier World Mastercard: Up To 8x Bonus Points On Local Spending

HSBC is relaunching its HSBC Premier World Mastercard Credit Card, moving away from rewards for malls and hotels to focus on online, contactless, and groceries spend instead. The changes to the card’s benefits will take place on 9 November and will affect all new and existing HSBC Premier World Mastercard cardholders.

Under the new HSBC Premier World Mastercard Credit Card benefits, cardholders are entitled to:

  • 10x Rewards Points on overseas face-to-face spend
  • 8x Rewards Points for contactless spend
  • 5x Rewards Points for groceries
  • 5x Rewards Points for selected online merchant spend

All other retail spend will qualify for 1x Rewards Points. The table below shows the benefits before and after the card’s “relaunch”:

Benefits before 9 November 2020 Benefits after 9 November 2020
·       1x Rewards Points on all eligible spend

·       9x Additional Rewards Points for overseas dining and hotel

·       7x Additional Rewards Points for spend at Mid Valley Megamall and The Gardens Mall

·       4x Additional Rewards Points for spend at participating malls

·       4x Additional Rewards Points on local hotel spend

·       1x Rewards Points on all eligible spend

·       9x Additional Rewards Points for overseas face to face spend

·       7x Additional Rewards Points for contactless spend

·       4x Additional Rewards Points for groceries

·       4x Additional Rewards Points on Lazada, Fave, Grab, Shopee, HappyFresh, and Zalora

Same as before, eligible spend include all transactions made with the HSBC Premier World Mastercard Credit Card – excluding petrol, charitable, quasi-cash or government-related transactions. The terms and conditions also specify that no additional rewards points will be given for spend on insurance and utility payments.

The changes made to the HSBC Premier World Mastercard make it a more relevant credit card in current times, with more consumers turning to contactless payments, online shopping, and eating at home compared to before. In fact, these new benefits are quite similar to that of the HSBC Platinum Mastercard now, as both cards offer 8x points for contactless and 5x points on groceries and online spend. Still, the highest points multiplier on the HSBC Premier World Mastercard remains travel-related, with the category broadened to rewards points on all overseas face-to-face spend as opposed to the dining and hotel requirements previously.

Besides that, the relaunch has also made some changes to the maximum number of Rewards Points cardholders can get using the HSBC Premier World Mastercard:

Points capping before 9 November Points capping after 9 November
·       Overseas: 20,000 Additional Rewards Points per month

·       Local: 9,000 Additional Rewards Points per month

·       Overseas: 15,000 Additional Rewards Points per month

·       Contactless: 8,000 Additional Rewards Points per month

·       Groceries: 4,000 Additional Rewards Points per month

·       Online: 4,000 Additional Rewards Points per month

Altogether, you can earn a total of 31,000 Additional Rewards Points per month under the new revision compared to the total of 29,000 Additional Rewards Points before. This is mostly due to the increase of the maximum local Additional Rewards Points you can earn, from 9,000 previously to 16,000 after the revamp. Nonetheless, you’ll notice that you can earn fewer Additional Rewards Points for overseas transaction with the change.

travel bag

Currently, HSBC Premier World Mastercard cardholders are entitled to 6x complimentary Plaza Premium Lounge visits in KLIA, Hong Kong, and Singapore. However, in its announcement about the credit card’s relaunch, HSBC made no mention of any changes to the card’s airport lounge privileges – so one could assume that they remain unaffected.

The HSBC Premier World Mastercard Credit Card is exclusively available for HSBC Premier accountholders with a minimum of RM200,000 in total relationship balance with HSBC, and is free for life.

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