HSBC World Elite Mastercard adds more grocery power to Canadian households

by Anshul
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Arguably, the best Canadian credit card to travel internationally, the HSBC World Elite Mastercard has introduced a new earn category which further enhances the cards’ all-round reputation. All purchases at Gas, Grocery and Drugstores now earn 4 points per $1, giving cardmembers an opportunity to make this into their everyday card, and not just a travel card. The welcome bonus continues to offer up to 80,000 points (110,000 Points for Quebec Residents), first year annual fee rebate, and a $100 travel enhancement credit for all new card accounts approved by May 31, 2023. There is so much to love about the card, let’s look at the updates in detail;

HSBC World Elite Mastercard – Apply Now 

    • Annual Fee: $149 CAD (Annual Fee Rebate for the primary cardholder* for the first year*)
    • Welcome Bonus:
      • Up To 80,000 points* (Apply by May 31, 2023);
        • 20,000 points* as welcome bonus upon approval
        • 60,000 points* (10,000 points for each month with with $1,000 CAD spend, in the first six months of account opening)
      • Offer for Quebec Residents: Up To 110,000 points* (May 31, 2023);
        • 20,000 points* as welcome bonus upon approval
        • 90,000 points* when you keep account open and active for 180 days
    • Earning Rate:
      • 6 Points per $1 on all eligible Travel purchases
      • 4 Points per $1 on all eligible purchases that are Gas, Grocery and Drugstore
      • 2 Points per $1 on all other eligible purchases
    • Additional Benefits:
      • $100 annual travel enhancement credit*
      • No foreign transaction fees
      • Unlimited Wi-Fi through Boingo at over 1 million hotspots worldwide
      • Complimentary membership to Mastercard Airport Experiences Provided by LoungeKey, offering access to over 850 airport lounges worldwide
      • 10% discount on select hotel bookings on your card with Expedia and Agoda when you book directly through the HSBC Expedia and Agoda websites
      • Comprehensive Insurance Coverage
        • 31–day insurance coverage – Worldwide Emergency Travel Medical insurance
        • Baggage delay or loss insurance
        • Trip Cancellation and Trip Interruption/Delay insurance
        • Car Rental Insurance
        • Purchase Assurance and Extended Warranty insurance
    • Eligibility Requirements: Annual individual income of $80,000 or $150,000 household income, or minimum of $400,000 in assets under management (based on liquid, investable assets with a financial institutions in Canada).

HSBC Rewards Program

There is a lot to love about a simple and straightforward rewards program, and HSBC Rewards is just that. No mental gymnastics required, and members can earn and redeem directly within the program.

    • Earning HSBC Points
      As seen above, with the HSBC World Elite® Mastercard®, members earn 6 points on every $1 spent towards any travel purchases, and 3 points on every $1 spent on all other eligible purchases.
    • Redeeming HSBC Points
      • Statement Credit – HSBC Mastercard cardholders can redeem points for statement credit towards any eligible travel purchase charged to an HSBC Mastercard. No blackout dates.
      • Convert to Frequent Flyer miles – Cardholders can also choose to convert their points into other airline miles. Currently, the options include Asia Miles (25,000 Points = 8000 Miles), Singapore Airlines Krisflyer (25,000 Points = 9000 Miles), and British Airways Executive Club (25,000 Points = 10000 Miles)
      • Financial Rewards – Cardholders can redeem HSBC Points towards HSBC Personal Finance. The options in this category include;
        • HSBC Mastercard Account Credit: 25,000 Points = $75
        • HSBC Mortgage Account Credit: 25,000 Points = $100
        • HSBC Savings Account Credit: 25,000 Points = $75
      • Gift Cards and valuable merchandise – Last but not least, cardholders can also redeem points towards gift cards such as Esso, Costco, Amazon, and more., and other merchandise on the HSBC Rewards website.

Take Away

I would peg the HSBC World Elite® Mastercard® as a must have for all Canadian wallets, be it for daily spend or as a designated travel card. My personal favorite is the simplicity of the rewards program, and the flexibility to redeem credits towards any eligible travel purchase billed to the card. The $100 travel credit, unlimited Wi-Fi through Boingo, and lounge access through Lounkey membership, are excellent additional perks that make it a well rounded card for Canadian households.

1 comment

Canada Immigration February 14, 2023 - 5:45 am

Worth read.


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