HSBC Premier MasterCard® Credit Card

HSBC Premier MasterCard® Credit Card

Enjoy the best of both worlds with the HSBC Premier Mastercard. Earn 5% cash rebates on everyday spend, both local and overseas, and 1 Reward point per dollar on all purchases.
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HSBC Premier MasterCard® Credit Card HSBC Premier MasterCard® Credit Card

HSBC Premier MasterCard® Credit Card

  • 1.4 KrisFlyer miles for S$1 spent locally, 2.3 KrisFlyer miles for S$1 spent overseas, and exclusive privileges.

The HSBC Premier Mastercard is best for travel-minded high spenders who already maintain or can maintain HSBC Premier status. It allows you to earn 1.68 miles per S$1 on local spend and 2.76 miles per S$1 on overseas spend (for transfer partners at a 2.5:1 ratio) from 19 August 2025. 

Additionally, enjoy unlimited Priority Pass lounge access, complimentary limo rides per quarter, and a buffet of travel & hotel elite status perks for Premier Elite customers. 

Spend category

Rewards earned

Local spend

1.68 mpd

Overseas spend

2.76 mpd

 

SingSaver’s offer

Welcome offer comparison

Provider

Offer

HSBC Website

Up to 100,000 KrisFlyer miles (300,000 Reward points) for Premier qualified customers who spend at least S$5,000

Up to 50,000 KrisFlyer miles (150,000 Reward points) when you pay the annual fee and spend at least S$5,000

The welcome offer is sizable, if you can meet the minimum spend required.

 

HSBC Premier MasterCard® Credit Card at a glance

Air miles

5/5

  • Excellent miles earned on both local and overseas spend
  • Welcome offer is top-tier among Singapore credit cards
  • Unlimited lounge access adds non-monetary travel value

Overseas spending

4.5/5

  • Strong FCY earn rate (2.76 mpd) for overseas spend
  • Some foreign transaction fees apply (around 3.25%), which dampen net gains
  • Conversion ratios differ by rewards partner; worst-case they reduce the effective “miles per dollar” significantly

Travel

5/5

  • Unlimited airport lounge access for both principal and up to three supplementary cards
  • Complimentary limo rides per quarter (Premier and Premier Elite perks), golf games for Premier Elite
  • Travel and lifestyle elite status benefits via hotel/car rental programmes

Bill payment

3/5

  • Earns miles on many retail and overseas purchases; less clear for utilities, insurance and other categories. Some categories may be excluded. 
  • Not specially strong for bill payments vs specialised cashback cards.

Petrol

3/5

  • Petrol spend counts as local retail spend so you get the local miles rate. Good, but no special bonus multiplier for petrol.
  • Benefit less if most petrol spend is local and you primarily care about overseas rates.

 

Annual interest rate and fees

  • Annual principal fee: S$708.50 (inclusive of GST)
  • Supplementary annual fee: Free (Up to 3 cards)
  • Fee waiver: 1-year waiver for principal card if you:
    • Have a Premier relationship with HSBC
    • Maintain a total relationship balance (TRB) of at least S$200,000 (or its equivalent in foreign currency) with HSBC 
  • Interest-free period: 20 days
  • Annual interest rate: 27.88% p.a.
  • Late payment fees: S$100.00
  • Minimum monthly repayment: 100% of the monthly instalment
  • Foreign currency transaction fee: 2.25% (+1% from Mastercard)
  • Cash advance transaction fee: 8% or S$15, whichever is higher
  • Overlimit fee: S$40

Minimum income requirements

  • Singaporean/PR minimum income: S$30,000
  • Self-employed or Commission-based Singaporean or PR: S$40,000
  • Non-Singaporean minimum income: S$60,000
  • Fixed deposit collateral: S$10,000

 

Why apply for the HSBC Premier MasterCard® Credit Card

Miles and benefits

  • High miles earned: 1.68 mpd locally and 2.76 mpd overseas (best with favourable transfer partners).
  • Unlimited Priority Pass lounge access for primary + up to 3 supplemental cards.
  • Complimentary airport limousine rides every quarter for Premier; enhanced perks for Premier Elite.
  • Strong welcome gifts (especially for those meeting Premier qualification).

Additional benefits

  • Travel insurance and other travel/lifestyle privileges.
  • Hotel elite status and car-rental elite privileges via HSBC partner programmes.
  • Golf fee benefits for Premier Elite customers.
  • Concierge and travel-related services.

Everyday value

  • Good value if you spend significantly overseas or in foreign currency.
  • If you meet and maintain the TRB, the high fees are waived, so the net cost can be low.
  • Less suited if you spend mainly locally and don’t travel or use lounge/limo perks often.

SingSaver’s take

The HSBC Premier MasterCard® Credit Card is a powerful miles credit card, especially for travellers or for those who already meet HSBC Premier status. The upgraded rates make it more competitive versus rivals. The main drawbacks are the high annual fee (if you don’t meet waiver criteria), the FCY fee that eats into overseas spend, and varied conversion ratios depending on your preferred airline partner. If you travel frequently, spend overseas or in foreign currency, and value lounge/limo perks, this card is well worth considering.

Pros Cons
✅  Strong miles earning in both local and FCY categories
✅  Unlimited airport lounge access including supplementary cards
✅  Generous welcome bonus for Premier-qualified users		 ❌  High annual fee for non-Premier Qualified customers
❌  Foreign transaction fees reduce net value of FCY spends
❌  Benefits highest only when you maintain HSBC Premier status and large TRB

 

Card comparison

Card

Miles

Annual fee (principal)

Other perks

HSBC Premier Mastercard

1.68 mpd local

2.76 mpd FCY

S$708.50 (waived if TRB ≥ S$200,000)

Unlimited lounges, limo rides, hotel elite status, strong welcome bonus

Citi PremierMiles Card

1.2 mpd local

2.2 mpd FCY

S$196.20

Complimentary airport lounge, complimentary travel insurance, airline and hotel transfer partners

UOB Visa Infinite Metal

1.4 mpd local 

2.4 mpd FCY

S$654

DragonPass access, high bonus miles, premium privileges

What makes the HSBC Premier Mastercard special is its upgraded earn rates (especially overseas) combined with a suite of travel-luxury perks and a waiver path via TRB.

 

Application process

  1. Open an HSBC Premier Account or contact the bank.
  2. Click “Apply Now” on this page and follow the prompts.
  3. Retrieve information from MyInfo (Singaporeans only), or go to a branch to apply.
  4. Wait for HSBC to approve your card (typically 1–2 weeks).
  5. Once approved, use your card and ensure you trigger any fee waiver or bonus conditions.

 

Frequently asked questions about the HSBC Premier MasterCard® Credit Card

What is the TRB and why is it important?

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The Total Relationship Balance (TRB) represents the total amount of deposits, investments, insurance, and other assets you hold with HSBC Singapore. Maintaining a TRB of S$200,000 or more grants you Premier qualification, waives the annual fee, and unlocks all associated perks. 

Do you need a Premier account to apply for the HSBC Premier Mastercard?

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Yes — the HSBC Premier Mastercard is exclusively for HSBC Premier banking clients. To qualify, you’ll need to maintain a Premier relationship with the bank, which means a TRB of S$200,000.

What are the new earn rates and when did they take effect?

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From 19 August 2025, the card earns 1.68 mpd on local spend and 2.76 mpd on foreign/overseas spend (for favourable transfer partners). 

Do I need to pay the annual fee?

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Only if you don’t meet the Premier qualification (TRB ≥ S$200,000). If you do, the fee is waived. Otherwise, you're subject to the fee of S$708.50.

Are there foreign transaction fees?

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Yes, FCY spend is subject to a 3.25% foreign currency transaction/conversion fee. That reduces the net miles per dollar, so it's good to factor in.

How do I redeem the reward points/miles?

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You can convert HSBC Reward Points to various airline and hotel loyalty programmes. Different transfer ratios depend on the partner. For the best value, use partners with stronger transfer ratios. 

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