Imagine a single credit card that makes travel smoother, shopping rewarding, and dining more fun — that’s what the HSBC Premier Credit Card promises. For someone who travels often, shops online or abroad, or simply wants premium perks, this card tries to deliver value in multiple ways. In this HSBC Premier credit card review, you’ll learn exactly what the card offers — its benefits, drawbacks, fees, and whether it’s a good fit depending on lifestyle and spending habits. By the end, you should know whether it’s a card worth applying for or skipping.
Quick Overview
| Details | |
|---|---|
| Card issuer: | HSBC (as part of its Premier banking suite) |
| Annual fee / Joining fee: | ₹12,000 (joining fee) + ₹20,000 renewal fee from second year (though fees may be waived if you meet Premier criteria) |
| Welcome bonus: | 20,000 reward points on first transaction with the card (post 2025 update) |
| Best for: | Frequent travellers, high spenders, people who value lounge access, international spends, and lifestyle privileges |
Key Benefits of HSBC Premier Credit Card
Cashback / Rewards
- Cardholders earn 3 reward points for every ₹100 spent — roughly a 3% return in rewards.
- Reward points never expire.
- Points can be redeemed for air miles, hotel loyalty programs, gift vouchers, or even Apple products (via Imagine vouchers) at a 1:1 ratio in many cases.
- On travel bookings (hotels, flights, car rentals), you can get up to 12× reward points through “Travel with Points” offers.
Travel benefits
- Unlimited airport lounge access — domestic and international for the primary cardholder.
- Guests get 8 complimentary international lounge visits per year (for guests of the cardholder).
- Low foreign exchange mark-up fee: just 0.99% on international spends — much lower than typical credit card forex charges.
- Additional perks sometimes include travel-related privileges (hotel discounts, etc.) under the broader Premier banking programme.
Shopping / Partner offers
- Redemption flexibility: reward points can be used for Apple products, gift cards, hotel stays, airlines, etc.
- Lifestyle privileges via associated memberships and offers (depending on the bank’s Premier privileges) — may vary.
EMI / Big Spend perks
- Card supports EMI or balance transfer options (as with many cards from the issuer), which can help convert big purchases into manageable monthly payments.
- For overseas trips or expensive purchases, perks like lower forex markup plus reward-point redemption can help offset costs.
HSBC Premier Credit Card Review: Fees and Charges
- Joining fee: ₹12,000 (plus applicable GST) when the card is first issued.
- Annual / Renewal fee: ₹20,000 (plus applicable taxes) from the second year onwards — unless the user meets the bank’s Premier-customer criteria (in which case the fee can be waived).
- Foreign currency markup fee: 0.99% on international transactions — favourable compared to many cards.
- Cash advance/cash withdrawal fee: Typically ~2.5% or a minimum of ₹300 (or as per the bank’s current terms) — standard for premium cards.
HSBC Premier Credit Card Review: Pros and Cons
Pros
- Simple and transparent rewards: 3% across almost all spends.
- Reward points never expire.
- Good flexibility: redeem points for air miles, hotels, shopping vouchers, Apple products.
- Excellent travel perks: unlimited lounge access, low forex markup — good for international travellers.
- Bonus welcome benefit (20,000 reward points) adds immediate value for first transaction — worth something tangible.
Cons
- High joining and renewal fees — ₹12,000 + ₹20,000 — which may not justify value if usage is low.
- Only available to those with a Premier banking relationship at HSBC (income/balance/investments criteria).
- Many benefits (like lounge access, travel perks) only make sense if you travel frequently or spend significantly.
- Reward rate (3%) while good, may not beat some other premium cards with higher returns or more aggressive offers.
- No automatic annual fee waiver unless the bank’s criteria are maintained — may feel like a burden if one does not maintain a relationship balance.
Who Should Apply for the HSBC Premier Credit Card?
Best for:
- Frequent travellers — both domestic and international — who will utilise lounge access and lower forex charges.
- High spenders: those who spend a lot on shopping (online/offline), travel, lifestyle, utilities, etc. — to maximise 3% rewards.
- People who already maintain or can meet the bank’s Premier-customer criteria (balance, investments, or salary) — to get fee waiver benefits.
- Those who value flexible reward redemption (air miles, hotel stays, Apple products, gift vouchers).
Not ideal for:
- Casual spenders with low or irregular monthly expenses, where the high fees may not be justified.
- People seeking fuel-specialised cards, or basic cashback cards for everyday small spends.
- Someone who doesn’t travel often or spend internationally — lacking opportunity to leverage key perks (lounge, forex benefit, travel offers).
How to Apply for an HSBC Premier Credit Card
Eligibility criteria:
- Must be an existing Premier banking customer at HSBC India.
- Typical Premier-customer criteria: maintain a quarterly Total Relationship Balance (TRB) of ₹40 lakh, or have a salary account with net monthly salary credit of ₹3 lakh or more, or have a mortgage of ₹1.15 crore or more with required TRB within 12 months.
Documents usually required (per standard HSBC policy):
- Identity proof (e.g., Aadhaar, Passport, Driving Licence, Voter ID, PAN, etc.)
- Address proof (could be the same as identity if the address is updated)
- Proof of income (salary slips, Form 16, ITR, etc.) — especially if applying on a salary basis.
How to apply:
- If you already hold a Premier account: visit HSBC’s official website and fill out the online form for the Premier Credit Card; a bank representative will follow up.
- Alternatively, you can visit a nearby HSBC branch to submit your application and documents offline.
(Note: Since this card is part of HSBC’s Premier banking suite, you cannot apply directly unless you qualify as a Premier customer.)
HSBC Premier Credit Card Review: FAQs
HSBC Premier Credit Card Review: Verdict
If you travels often, spends heavily on shopping or lifestyle, and meet the Premier-customer criteria at HSBC, the HSBC Premier Credit Card can offer excellent value. With a straightforward 3% reward rate, flexible redemption, unlimited lounge access, low forex charges, and a strong welcome bonus, it delivers premium perks you’d expect at this level.
However, the high fees — ₹12,000 joining + ₹20,000 renewal — mean the card is worth it only if you use the perks and spend significantly. For a casual spender or someone who rarely travels, the cost may outweigh the benefits.
