Mastercard customers can enjoy an instant upgrade to SLH Club 02 or 03 status, which gives complimentary breakfast and room upgrades across 650 hotels worldwide.
The HSBC Premier Mastercard has cut its welcome bonus from 106,200 miles to 58,200 miles, but it's still available to existing cardholders, with a waivable annual fee.
Mastercard plans to launch a new ultra-premium World Legend tier, as well as new benefits for World and World Elite cardholders via The Mastercard Collection.
CardUp users can pay income taxes with a Mastercard and fees from 1.55%, reducing the cost per mile to as low as 0.76 cents. Redemption and payment caps apply.