It seems like the HSBC Premier Mastercard just keeps getting better and better.
Last month, HSBC unveiled a series of enhancements which boosted the earn rates, added unlimited airport lounge access for up to four cardholders, and doubled the number of complimentary airport limo rides — all while keeping the card free for qualified HSBC Premier customers.
Those revised benefits take effect from today, and HSBC has sweetened the deal further with a new welcome offer of up to 106,200 bonus miles, available to both new and existing HSBC cardholders.
Assuming you can find the S$200,000 necessary to maintain an HSBC Premier account, then this is really a no-brainer.
HSBC Premier Mastercard welcome offer
Customers who apply for a HSBC Premier Mastercard from 19 August to 19 October 2025 (with approval by 2 November 2025) are entitled to one of the following offers.
| Customer | Criteria | Gift |
| Premier Qualified Customer |
|
Up to 106,200 miles (265,500 HSBC Points) |
| Non-Premier Qualified Customer |
|
Up to 46,200 miles (115,500 HSBC Points) |
The bigger welcome offer of up to 106,200 miles is reserved for Premier Qualified Customers, defined as those who:
- Have a Premier relationship with HSBC, and
- Maintain a Total Relationship Balance (TRB) of at least S$200,000 (or its foreign currency equivalent)
Premier Qualified Customers also receive a perpetual waiver of the S$708.50 annual fee.
Non-Premier Qualified Customers receive a smaller bonus of up to 46,200 miles, and are required to pay the annual fee.
All cardholders will need to meet a minimum spend of S$5,000 by the end of the month following approval, and provide consent to receiving marketing and promotional materials from HSBC at the time of submitting their application. This must not be revoked at the time the gift is credited.
| ❓What about SingSaver welcome gifts? |
|
SingSaver has historically offered welcome gifts for HSBC Premier sign-ups, but unfortunately, I still don’t have a concrete timeline for when these will be returning. I’m personally planning to finish out my AMEX Platinum Charge membership year (in September) before pulling the trigger on the HSBC Premier Mastercard. I hope there’ll be something by then, but you’ll need to decide whether it’s worth waiting for something that may or may not happen. |
Who is eligible for this offer?
This offer is available to HSBC Premier customers who:
- do not currently hold a principal HSBC Premier Mastercard, and
- have not cancelled a principal HSBC Premier Mastercard in the past 12 months before approval
This is a much more generous scope than HSBC’s regular welcome offers, which exclude anyone who holds any principal HSBC credit card, or has cancelled one in the past 12 months.
What counts as qualifying spend?
Cardholders must make a minimum qualifying spend of S$5,000 by the end of the month following card approval. Both principal and supplementary cardholder spending will be taken into account.
| Card Account Opening Date | Qualifying Spend Period |
| 19-31 Aug 2025 | 19 Aug to 30 Sep 2025 |
| 1-30 Sep 2025 | 1 Sep to 31 Oct 2025 |
| 1-31 Oct 2025 | 1 Oct to 30 Nov 2025 |
| 1-2 Nov 2025 | 1 Nov to 31 Dec 2025 |
This means that you have anywhere between 1-2 months to meet the minimum spend, depending on when your card is approved. If you have concerns about meeting the minimum spend, try to get approved early in the month so you have more time.
Qualifying spend is defined at point 4.3 of the T&Cs, and excludes the following:
- CardUp and ipaymy
- Gambling-related transactions
- Government services
- Prepaid account top-ups
What’s strange about this list is that it’s missing charitable donations, hospitals, insurance premiums, and utilities, which are normally excluded from earning rewards with HSBC cards. Whether this is intentional or an oversight, I really can’t say. But HSBC caveats that this list is “non-exhaustive”, so I certainly wouldn’t risk it.
When will the welcome gift be awarded?
Bonus HSBC Points will be credited within 120 days from the card account opening date
Terms & Conditions
The terms & conditions of this welcome offer can be found here.
What can you do with HSBC Points?
HSBC Points can be transferred to 20 airline and hotel partners at the ratios shown in the table below.
| ✈️ HSBC Airline Partners | |
| Frequent Flyer Programme | Conversion Ratio (HSBC Points : Partner) |
 |
50,000 : 10,000 |
 |
35,000 : 10,000 |
 |
35,000 : 10,000 |
 |
35,000 : 10,000 |
 |
35,000 : 10,000 |
 |
35,000 : 10,000 |
 |
30,000 : 10,000 |
 |
30,000 : 10,000 |
 |
25,000 : 10,000 |
 |
25,000 : 10,000 |
 |
25,000 : 10,000 |
 |
25,000 : 10,000 |
 |
25,000 : 10,000 |
 |
25,000 : 10,000 |
 |
25,000 : 10,000 |
 |
25,000 : 10,000 |
| 🏨 HSBC Hotel Partners | |
| Hotel Programme | Conversion Ratio (HSBC Points : Partner) |
 |
30,000 : 10,000 |
 |
25,000 : 5,000 |
 |
25,000 : 10,000 |
 |
25,000 : 10,000 |
The crucial thing to know is that not all partners share the same transfer ratio. Therefore, the effective earn rate and size of the welcome offer depends on the partner you choose.
In fact, HSBC advertises the offer in terms of KrisFlyer miles, but you could actually receive 20% more if you choose a partner with a 2.5 points = 1 mile transfer ratio, like British Airways Executive Club or EVA Air Infinity MileageLands. That’s how I derive the 106,200 miles figure; if you want KrisFlyer, the bonus is worth only 88,500 miles.
Likewise, the HSBC Premier Mastercard’s advertised earn rates of 1.68/2.76 mpd also assume a transfer partner with a 2.5 points = 1 mile transfer ratio. Otherwise, it can go as low as 0.9/1.4 mpd on the other end of the spectrum, if you pick a partner with a 5 points = 1 mile transfer ratio.
| 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 |
||
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
Transfers 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.
Overview: HSBC Premier Mastercard
| HSBC Premier Mastercard |
|||
| Apply | |||
| Income Req. | S$30,000 p.a. | Points Validity | 37 months |
| Annual Fee | S$708.50 |
Min. Transfer |
25,000 HSBC Points (10,000 miles) |
| Miles with AF | – | Transfer Partners | 20 |
| FCY Fee | 3.25% | Transfer Fee | Free |
| Local Earn | 1.68 mpd | Points Pool? | Yes |
| FCY Earn | 2.76 mpd |
Lounge Access? | Yes |
| Special Earn | – | Airport Limo? | Yes |
| Cardholder Terms and Conditions | |||
The HSBC Premier Mastercard is the companion card for the HSBC Premier priority banking programme.
Key benefits include:
- Unlimited Priority Pass visits for the principal and three supplementary cardholders (including non-lounge experiences like restaurants)
- 8x complimentary airport limo rides per year, with min. spend of S$12,000 per quarter (no min. spend for HSBC Premier Elite)
- Complimentary ENTERTAINER with HSBC subscription
- Savour Dining experiences
As a World Elite Mastercard, all principal and supplementary cardholders also enjoy the following benefits.
| 🏨 Hotel Elite Status | |
| 🚗 Rental Car Elite Status | |
| 👍Other Perks |
Conclusion
The HSBC Premier Mastercard has launched a new welcome offer of up to 106,200 bonus miles, available with a minimum spend of S$5,000. This, together with other benefits like unlimited lounge access and airport limo transfers, makes it a very enticing card indeed.
However, it’s only worth going for if you count as a qualified HSBC Premier customer, which requires a TRB of S$200,000. You should consider the returns you can earn on those funds with HSBC versus elsewhere, in order to get a true picture of the cost.
Where did you get local 1.68mpd and 2.76mpd overseas? My email from HSBC shows 1.4mpd local and 2.3 overseas
Hsbc quotes in terms of kf miles
Spend and earn accelerated rewards
Be rewarded as you spend with your HSBC Premier Mastercard.
Up to 1.4 KrisFlyer miles (4.2× Reward points) for each SGD1 spent locally
Up to 2.3 KrisFlyer miles (6.9× Reward points) for each SGD1 spent overseas.
See the page here, https://www.hsbc.com.sg/credit-cards/products/premier-mastercard/
If it’s really 1.68/2.76 I would be moving away from my OCBC Premier Voyage.
Oh I got it! You are using /2.5 for mpd, and for KF it’s /3. Thanks!
For someone investing monthly into US ETFs via IBKR: Can I do the same with S$200k in HSBC for a short while and get my hands on the card? Or am I restricted to their own products in any way?
Which ETFs are you buying? Side note: you may prefer to buy Irish-domiciled ETFs, as they won’t suffer the US foreign investor inheritance tax that US-domiciled instruments do.
I checked for you, and they have major US ETFs and single name stocks. Ironically, they don’t have Irish-domiciled, so that could be a bit of a roadbump for me/others.
Thanks for checking, agreed on the withholding tax.
BOXX comes to mind for the duration of the promotion. Take near T-Bill margins without dividend payments.
Here are the results from a search for “BOXX” in the HSBC dashboard:
Symbol Name Country
BOXX BOXX Alpha Architect 1-… United States
TDTT FlexShares iBoxx … United States
TDTF FlexShares iBoxx United States
SNLN Highland/iBoxx Se… United States
HYG iShares iBoxx $ Hig… United States
LQD iShares Trust: iShar… United States
KT2 DB X-TRACKERS II – M… Singapore
KF6 DBXT IBOXX SOV EU … Singapore
KF7 DBXT iBoxxUSTr US$ Singapore
Hi there – would you know if you can write options easily (via website or app like IBKR) or is it one of those have to call in to a human broker to order type situations?
Would the written options also count as part of the $200K? understanding there’s different situations but let’s say for something like cash-secured puts or covered calls.
Thanks so much for your help!
Great deal if have TRB met. Maybe worth to mention on 4th main course free at over 30 restaurants, 5% cash back for Apple products and $2/- off GV tickets and a free GV gold class ticket on weekends with 2 gold class tickets purchase. Also can get up to uncapped 6.75 mpd if book travel in their portal. (9 reward points for flight & car rental, 18.75 reward points for hotels)
Any mention about how long to park the $200k to be qualified?
Same question. Would the annual fee be charged after all, if I suffer investment losses along the way (say after 6 months) or withdraw my funds?
Reading the TnC, Maintenance period is 3 months. Need fund 200K and open a premier account.
https://www.hsbc.com.sg/content/dam/hsbc/sg/documents/premier/offers/welcome-reward-promotion-and-referral-programme.pdf
Does it mean after spending 5k , on the 4th month I can take out the 200k?
Does anyone know what is the current HSBC Premier interest rate? I’m currently on OCBC premier dividend, and they’re paying out 2%
Nice. I’ve been no fan of HSBC over my time in SG, they’re difficult to work with as a bank. However, you can’t argue with the positive customer approach they’ve been taking over the last few months, despite the nerfs to the HSBC Revo. This offer will win my business over from DBS Treasures.
Also, I just cancelled my Amex Plat. Good riddance to that overpriced piece of crap!
not to mention the hsbc revo is having something of a moment right now!
and yes, once october comes round it’s goodbye to the plat charge for me, and hello hsbc premier mastercard
Any news on SingSaver rewards? Considering if i should apply now
I applied for the premier card on 12 Aug and got it approved on 19 Aug. But I saw they have updated with a new promotion on 19 Aug… I have no idea if the previous promotion of 65k miles is still applicable or what promotion I’m entitled to (which affects my min spend)… called the hotline and seems like they also have no idea what promotions they are offering.
Does using the card for insurance premium count as part of the $5k Qualifying spend?
Hi Aaron, existing premiere will have their priority pass membership updated to unlimited but new premiere will not have a priority pass membership? Will the new premiere member have access to non-lounge facilities? They are so use to scanning the priority pass app for entry? New and Old have different way of accessing lounge and non-lounge? Confussing
What spendings are eligible for minimum qualifying spend of S$5,000? Are things like medical bills counted?
There is no mention of amaze pairing for the 5k. Anyone has info?
The $5 spending need to be foreign spend else you will not get the full 100k
Do you know if the 100K bonus miles is a one off thing? Or are there also bonus miles given out every year the card is renewed? I couldn’t find any information about this on the HSBC website.