HSBC Premier Credit Card Review

The HSBC Premier Credit Card is a premium offering that targets high-net-worth individuals who frequently travel and prioritise lifestyle benefits. It comes with great rewards for dining, entertainment, and travel. However, its expensive joining and annual fees, along with strict eligibility criteria based on a significant Total Relationship Balance, make it less accessible to the average consumer. 

The card's standout features include accelerated rewards on specific categories, free airport lounge access, and comprehensive travel insurance. Before making a decision, it's essential to weigh its benefits against its costs and eligibility requirements. If you're a frequent traveler and value premium lifestyle perks and comfortably meet the eligibility criteria, this card could be a worthwhile investment. 

However, if you don't meet the eligibility or prioritise other spending categories, it's advisable to explore alternative credit cards like:

1. HDFC Bank Infinia Credit Card
2. Axis Bank Magnus Credit Card
3. HDFC Diners Club Black Credit Card

Overview

Rewards on HSBC Premier Credit Card

You'll earn 3 points per ₹100 spent. Use your points to buy the latest Apple products with Imagine vouchers or plan your next adventure when you convert your  points to air miles via the Star Alliance network, including with Air India. HSBC Premier allows you to redeem earned reward points for Air Miles with partnered airlines as per the below details:

Who should get an HSBC Premier Credit Card?

Whether or not the HSBC Premier Credit Card is right for you depends on several factors, including your lifestyle, spending habits, and financial situation. Here's a breakdown of who might benefit most from this card:

• You are a high-spender who frequently travels
• You prefer to redeem rewards for Air Miles or Apple products
• You want a low forex markup fee credit card
• You frequently dine out via the EazyDiner app
• You frequently make movie ticket bookings through BookMyShow

How to apply for an HSBC Premier Credit Card?

To apply for HSBC Premier Credit Card, follow the below steps:

Step 1: Visit select.finology.in and click on the 'Credit Card' tab.
Step 2: Click on Card Issuers, where you will see a list of banks that issue credit cards.
Step 3: Choose HSBC Bank from the list.
Step 4: Choose 'HSBC Premier Credit Card' and click on the 'Apply Now' button.
Step 5: Provide the required consent, and then you will be redirected to a page where you need to fill in your mobile number and PAN card number.
Step 6: Fill in the credit card application form and attach the documents required.

HSBC Premier Credit Card Eligibility

To apply for HSBC Premier Credit Card, you must meet at least one of the following criteria:

• Maintain a quarterly Total Relationship Balance (TRB) of ₹40,00,000.
• Have a mortgage relationship with the disbursal of ₹1,15,00,000 or more with HSBC India.
• Hold a corporate salary account under the HSBC Corporate Employee Program (CEP) in India with a net monthly salary credit of ₹3,00,000 or more into the account.
• Have a global Premier relationship within the HSBC group.

Documents Required

• Proof of identity: PAN Card, Aadhaar card, Driver's License, Passport, Voter's ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI or any other government-approved photo ID proof.
• Proof of Address: Aadhaar card, Driver's License, Passport, Utility Bill not more than 3 months old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement, or any other government-approved address proof.
• Proof of Income: Latest one or two salary slips (not more than 3 months old), the latest Form 16, and the last 3 months bank statement.