In October 2024, HSBC made some big changes to the HSBC Premier Mastercard, switching its rewards from cashback to miles, adding airport lounge and limo benefits, and upgrading it to a World Elite Mastercard.
Less than a year later, we’re seeing a second round of changes— but I’m not complaining, because these are genuine enhancements that almost feel too good to be true.
From 19 August 2025, the HSBC Premier Mastercard will:
- Boost its local/FCY earn rates to 1.68/2.76 mpd
- Add unlimited lounge access for the principal and three supplementary cardholders
- Double the airport limo rides for Premier customers, and remove the minimum spend requirement for Premier Elite customers
- Add six complimentary golf games for Premier Elite customers
The best part? The annual fee will continue to be waived for HSBC Premier customers with a total relationship balance of at least S$200,000. Yes. You’re basically enjoying many of the benefits you’d expect from a $120K card, without the annual fee!
This is sensational stuff, and I’m certainly planning to hop onboard. That said, I understand that SingSaver plans to launch a HSBC Premier welcome gift soon (a few years ago they offered an iPhone Pro Max or an OTO massage chair), so I plan to hold off until the details are finalised.
Overview: HSBC Premier Mastercard changes
 HSBC Premier Mastercard |
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| FAQs | Revised T&Cs |
Here’s an overview of the upcoming changes to the HSBC Premier Mastercard.
Annual fee
| Till 18 Aug 2025 | From 19 Aug 2025 | |
| Annual Fee | S$490.50 | S$708.50 |
The HSBC Premier Mastercard currently has an annual fee of S$490.50, which will be increased to S$708.50 for renewals or approvals from 19 August 2025 onwards.
No one likes an annual fee increase, but it really shouldn’t matter, because the annual fee is waived so long as:
- you have a Premier or Premier Elite relationship with HSBC and maintain a total relationship balance (TRB) of S$200,000 (or FCY equivalent) with HSBC Singapore, or
- you have a Private Banking relationship with HSBC Private Bank
Mind you, you need to be a HSBC Premier customer to apply for the HSBC Premier Mastercard in the first place, so as long as you maintain your TRB, everyone’s happy.
| ❓ Why is there an annual fee in the first place? |
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Since the HSBC Premier Mastercard is exclusively for HSBC Premier customers, and a TRB of S$200,000 is required to become a HSBC Premier customer in the first place, who actually pays the annual fee? First, HSBC Premier status is global, so you could have HSBC Premier status in Singapore by virtue of your relationship with HSBC in some other country. If you wanted the HSBC Premier Mastercard here, you would need to pay the annual fee. Second, you may have started your HSBC Premier relationship in Singapore with a TRB of S$200,000, but fallen below that amount over time. HSBC won’t downgrade your relationship immediately (you’ll be charged a S$50 monthly service fee), and if you apply for a HSBC Premier Mastercard in this state, you would need to pay the annual fee. For more information on how the TRB is calculated, refer here. |
Earn rates
| Till 18 Aug 2025 | From 19 Aug 2025 | |
| Local Spend | 3x points per S$1 (1.2 mpd) |
4.2x points per S$1 (1.68 mpd) |
| FCY Spend | 5x points per S$1 (2 mpd) |
6.9x points per S$1 (2.76 mpd) |
The HSBC Premier Mastercard currently earns:
- 3x HSBC points per S$1 spent in SGD (1.2 mpd)
- 5x HSBC points per S$1 spent in FCY (2 mpd)
From 19 August 2025, the earn rates will be boosted to:
- 4.2x HSBC points per S$1 spent in SGD (1.68 mpd)
- 6.9x HSBC points per S$1 spent in FCY (2.76 mpd)
These are excellent earn rates for a general spending card, but there are two catches.
First, HSBC does not award points for CardUp, ipaymy or RentHero, and HSBC does not have a tax payment facility or bill payment platform of its own. Therefore, unless you’re a regular big spender, it might still take time to accumulate a critical mass of points.
Second, the exact mpd depends on which transfer partner you choose. HSBC’s conversion ratios range from 2.5-5 HSBC points : 1 mile/point (see below for the full list).
The earn rates of 1.68/2.76 mpd only apply if you choose a partner with a 2.5 HSBC points : 1 mile ratio, and could go as low as 0.84/1.38 mpd at the other end of the spectrum (though admittedly that’s just for a single partner).
That said, earning an uncapped 1.97 mpd with Aeroplan (3.5 HSBC points : 1 mile) through overseas spending isn’t too bad. You’ll pay a 3.25% FCY fee, but paying 1.65 cents per mile is still cheaper than buying them from the programme during a sale, and you’re earning those miles as a byproduct of spending anyway.
| Transfer Ratio (Points : Miles) |
HSBC Premier MC (SGD)* |
HSBC Premier MC (FCY)^ |
| 25,000 : 10,000 (8x partners) |
1.68 mpd | 2.76 mpd |
| 30,000 : 10,000 (2x partners) |
1.4 mpd | 2.3 mpd |
| 35,000 : 10,000 (5x partners) |
1.2 mpd | 1.97 mpd |
| 50,000 : 10,000 (1x partner) |
0.84 mpd | 1.38 mpd |
| *4.2 points per S$1 on SGD spend ^6.9 points per S$1 on FCY spend |
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I should also highlight that Singapore Airlines KrisFlyer has a 3 HSBC points : 1 mile ratio, following a devaluation in early 2025. While this still works out to a decent 1.4/2.3 mpd, I don’t think you should be using HSBC cards if you’re a KrisFlyer-only kind of person.
Unlimited airport lounge visits
| Till 18 Aug 2025 | From 19 Aug 2025 | |
| Premier | 4x per m. year | Unlimited visits for principal and 3X supp. cards |
| Premier Elite | 6x per m. year |
The HSBC Premier Mastercard currently offers principal cardholders 4x (Premier) or 6x (Premier Elite) airport lounge visits per year, through Priority Pass. These can be used by the cardholder, or shared with guests.
From 19 August 2025, both Premier and Premier Elite customers will enjoy unlimited lounge visits for the principal and up to three supplementary cardholders. That’s one heck of an enhancement!
The drawback, if you can even call it that, is that it will no longer be possible to bring guests for free — a US$35 fee applies. However, if you travel frequently with family members, you can give them a supplementary card, which would grant lounge access even when you’re not travelling with them. Do note that a supplementary cardholder must be at least 18 years old (or 16 years old, with proof of overseas studies).
And yes, before someone asks. Unlike AMEX and OCBC, HSBC does not have any lounge pass restrictions— you can use your Priority Pass visits at lounges, spas, restaurants, or any of the thousands of other experiences available.
1-2 free airport limo rides per quarter
| Till 18 Aug 2025 | From 19 Aug 2025 | |
| Premier | 1x per quarter (min. S$12K spend) |
2x per quarter (min. S$12K spend) |
| Premier Elite | 2x per quarter (min. S$12K spend) |
2x per quarter (no min. spend) |
The HSBC Premier Mastercard currently offers principal cardholders 1x (Premier) or 2x (Premier Elite) airport limo transfers, with a minimum spend of S$12,000 per calendar quarter.
From 19 August 2025, the entitlement will be upgraded. Premier customers will enjoy 2x airport limo transfers with the same minimum spend as before, while Premier Elite customers will enjoy 2x airport limo transfers with no minimum spend necessary (provided they maintain a TRB of at least S$1.2M; otherwise they’ll need to spend S$12,000 too).
| 👍 First quarter concession |
| HSBC offers a nice little concession for new cardholders: during your first calendar quarter, the minimum spend for limo rides is S$6,000 instead of S$12,000. For example, if your card was approved in August 2025, the minimum spend for the July to September 2025 period need only be S$6,000. |
Codes to redeem limo rides will be sent by the end of the second month following the quarter in which the criteria was met.
| Calendar quarter where eligibility criteria is met | Limo code sent by |
| 1 January to 31 March | 31 May |
| 1 April to 30 June | 31 August |
| 1 July to 30 September | 30 November |
| 1 October to 31 December | 28 or 29 February |
Codes are valid for 12 months from the month of issuance, and can be used for rides to or from Changi Airport.
Golf games
| Till 18 Aug 2025 | From 19 Aug 2025 | |
| Premier | World Elite golf | World Elite golf |
| Premier Elite | World Elite golf & 6x complimentary games |
From 19 August 2025, principal HSBC Premier Mastercard cardholders with Premier Elite status will enjoy 6x complimentary green fees at participating golf clubs. Customers must maintain a TRB of S$1.2M to enjoy this benefit
All HSBC Premier Mastercard customers will continue to enjoy the generic World Elite Mastercard golf programme.
What can you do with HSBC points?
HSBC points can be converted to 20 airline and hotel partners at the following ratios.
| ✈️ HSBC Airline Partners | |
| Frequent Flyer Programme | Conversion Ratio (HSBC Points : Partner) |
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50,000 : 10,000 |
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35,000 : 10,000 |
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35,000 : 10,000 |
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35,000 : 10,000 |
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35,000 : 10,000 |
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35,000 : 10,000 |
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30,000 : 10,000 |
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30,000 : 10,000 |
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25,000 : 10,000 |
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25,000 : 10,000 |
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25,000 : 10,000 |
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25,000 : 10,000 |
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25,000 : 10,000 |
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25,000 : 10,000 |
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25,000 : 10,000 |
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25,000 : 10,000 |
| 🏨 HSBC Hotel Partners | |
| Hotel Programme | Conversion Ratio (HSBC : Partner) |
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30,000 : 10,000 |
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25,000 : 5,000 |
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25,000 : 10,000 |
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25,000 : 10,000 |
All conversions must be done via the HSBC Singapore app (Android | iOS) and are processed instantly, with the exception of the following:
- Hainan Fortune Wings Club: Within 5 business days
- Japan Airlines Mileage Bank: Within 10 business days
Conversions are free of charge until further notice, and HSBC points are pooled across cards.
While the minimum transfer block is 10,000 miles/points (Accor: 5,000 points), the subsequent block is just 2 miles (Accor: 1 point). In other words, you could choose to transfer 10,002 miles or 20,958 miles, which helps you avoid orphan points.
Conclusion
The HSBC Premier Mastercard will be significantly enhanced from 19 August 2025, with boosted earn rates, unlimited lounge access, a more generous limo benefit, and additional golf privileges. While the annual fee will also be increased, this is irrelevant to HSBC Premier customers who maintain a TRB of at least S$200,000.
With these changes, this card will be head and shoulders above other premier banking cards, like the OCBC Premier VOYAGE, StanChart Priority Visa Infinite, and UOB Privilege Banking Visa Infinite. It could even replace the $120K card in your wallet, if you don’t mind committing the funds to HSBC.
I’ll be doing a full review of the HSBC Premier Mastercard soon, and will also publish an update when the SingSaver welcome gifts are live, so try and hold off for those if you can.
Hi Aaron, do you know if the SingSaver HSBC Premier promo will be for the bank status and/or the card?
step 1: sign up for hsbc premier via singsaver, get gift.
step 2: sign up for hsbc premier mastercard, get sign up bonus.
For the sign up bonus, based on previous promo, it be new to bank or new to card or both?
May I ask, is it similar to the HSBC infinite card where the supplementary card also get infinite entries to the lounge? Is the lounge Priority Pass or Lounge key or Dragon pass?
tell me you didnt read the article without telling me.
The Nurf champions need to take note. Yes, I am looking directly at you UOB and DBS.
Hi Aaron, do you know how about the customers getting Premier status with home loan? Does the home loan balance count?
If I don’t have 200k can I get the benefits?
Sry a newb question, does the supp card spending earn miles at the same rate, and will these miles be pooled across cards?
I’ll be keen to get your view on this card vs Citi Prestige in due course,
I’m led to believe that worldwide HSBC Premier status does not qualify for the fee waiver. It is dependent on having S$200k in HSBC Singapore. So I’ll be cancelling my card if they try to charge me a fee. Why should I move funds from a higher interest account overseas to avoid a fee that I shouldn’t be charged in the first place ?
Your higher interest account overseas will probably qualify you for that country’s version of the Singapore HSBC Premier Mastercard. I think you should get the version of the Premier Mastercard for that country where you are getting higher interest overseas. There will be good benefits from that overseas card for you to use too. Singaporeans with HSBC accounts in Singapore will not have access to the card that you can get. You are very fortunate. No problem for you.
this is correct. My AUM is met with HSBC US and the Premier status maps just fine (but not Elite/Jade/whatever they call it) across the Global Transfer view on the app. Did not matter to the cards department: they rang me recently to inform that unless I put in S$200k or $150k in foreign currency, I should expect to see the $500 annual fee if, and when, my card is approved. The upside is that these “fresh funds” make you eligible to receive a promotional EIR on a 6-12 month CD. It definitely wasn’t any more than 3-4% annually, consider… Read more »
I believe it doesn’t matter how high the interest rate is if the fund amount required is only a small portion of your growth portfolio (for instance, less than 10%). You can park your money wherever you like or even benefit from side benefits, even if the interest rate is zero. This doesn’t affect your portfolio since you’ll still need to access some cash anyway.
Who wants to pay SGD 800 to get in a lower class lounge where the Main customers get in the airlines lounge for free? These cards are for those that don’t command privileges but want to pretend they do . Get a free Mastercard from other banks or an Amex card . Amex cards are run by them whereas Mastercard is run by Mastercard not HSBC
No one is paying SGD800, as what Milelion has said, it is likely FOC for the bulk of the customers. I have tonnes of Priority Pass cards and unlike in Europe and USA, the Priority Pass lounges in Asia do actually pass muster. Not spectaular, but beats waiting at the gate or overpriced shops.
We will using our complimentary Priority Passes on a trip to a nearby country next month and SQ flies the 737Max with only 6 J seats, no F. For the dates and the flight we want, and the number of seats we need, it looks like we will have to fly Y for the return leg of our trip. We haven’t flown frequently with our young kids since COVID so our PPS status has lapsed and the last 2 trips on J to Korea and Japan have been done with our huge pool of miles. So PP does come in… Read more »
Does the unlimited priority pass include restaurants or just lounges only? Can I like get a meal at crystal jade then go chill out at the lounge?
This is why the buff will not last.
Any news when the singsaver hsbc premier promo is happening ?
still no word of when it will launch. if you need it urgently might as well apply first