Fees, eligibility, all 20 transfer partners and what an HSBC reward point is really worth, for the HSBC Premier Credit Card in India.
| Joining fee | ₹12,000 + GST |
| Renewal fee | ₹20,000 + GST (waived for Premier) |
| Base earn | 3 points per ₹100 |
| Forex markup | 0.99% |
| Transfer partners | 15 airlines + 5 hotels |
Card overview
The HSBC Premier Credit Card is a metal World Mastercard for HSBC Premier banking customers. It earns 3 reward points per ₹100, charges just 0.99% on foreign currency spends, gets you into airport lounges as often as you like, and has no renewal fee as long as you stay Premier.
That last bit is what makes it unusual. Most premium cards in India want you to spend lakhs every year before they’ll drop the fee, but this one only asks you to stay a Premier customer, which you’d have to do anyway to hold the card.
So keeping the card is easy. Getting it is the hard part, and we’ll walk you through exactly what HSBC asks for further down.
Good to know: this card is only for HSBC Premier banking customers in India. If you don’t bank with HSBC Premier yet, you’ll need to open a Premier account first.
Looking for the HSBC TravelOne card? That’s a different card with its own fees and earn rates, and it’ll get its own page.
Reward point value at a glance
An HSBC reward point doesn’t have one fixed value. It depends on where you spend it.
₹1 per point
Apple store and Travel with Points (flights, hotels, car rentals)
₹1+ per point
Airline transfers at 1:1 with a good award seat
~₹0.20 per point
Gift vouchers (PointsFly estimate)
At ₹1 a point, the base earn of 3 points per ₹100 works out to a 3% return on everyday spending. That’s a strong number for a card with no renewal fee. Use the points for vouchers instead and it drops to about 0.6%, so how you redeem matters a lot here.
Where you earn, and where you don’t
Where you earn most
36 pts per ₹100
Hotels booked through HSBC Travel with Points (12X). Flights earn 18 points per ₹100 (6X) and car rentals 6 points per ₹100 (2X).
Strong rates
6X on Apple products bought through HSBC’s Unicorn portal, until 31 October 2026.
3 pts per ₹100 on almost everything, in India and abroad.
Capped categories such as utilities, insurance, education and wallets earn on the first ₹1 lakh a month combined.
Earns nothing
- Fuel
- Cash withdrawals
- Fees and charges
- Instant EMI purchases
Key takeaways
- The HSBC Premier Credit Card costs ₹12,000 + GST to join. The ₹20,000 + GST renewal fee is waived for as long as you stay a qualified Premier customer.
- You need an HSBC Premier bank account first, usually through a ₹50 lakh relationship balance or a ₹3 lakh monthly salary credit.
- You earn 3 points per ₹100 everywhere, and points never expire.
- Points move 1:1 to 11 airlines (including Singapore Airlines, British Airways, Qatar and Air India) and 4 hotel groups (Marriott, Accor, IHG and Wyndham).
- Lounge access is unlimited in India and abroad, and you get 8 free guest visits a year at overseas lounges.
What’s in this guide
HSBC Premier credit card fee and charges
The HSBC Premier Credit Card costs ₹12,000 + GST to join and ₹20,000 + GST a year, but the renewal fee is waived as long as you stay a qualified Premier customer with HSBC India.
The joining fee is charged once, after you activate the card. With GST it comes to ₹14,160. In return, you get 20,000 welcome points, which are worth ₹20,000 at the Apple store or on Travel with Points. So the welcome bonus more than pays for the joining fee.
Is the HSBC Premier credit card lifetime free?
Not quite, but close. You pay the joining fee once, and after that there’s no annual fee for as long as you keep your Premier status. If your relationship with HSBC drops below Premier, the ₹20,000 + GST renewal fee can kick in.
| Charge | What you pay |
|---|---|
| Joining fee | ₹12,000 + GST (once, after activation) |
| Annual fee | ₹20,000 + GST, waived for qualified Premier customers |
| Add-on cards | Free |
| Forex markup | 0.99% of the transaction (about 1.17% with GST) |
| Interest | 2.99% a month (35.88% a year) |
| Cash withdrawal | 2.5% of the amount (minimum ₹300) |
| Late payment | 100% of the minimum due (₹250 to ₹1,200 a month) |
| Over-limit | 2.5% of the over-limit amount or ₹500, whichever is higher |
| Rent payments | 1% processing fee + taxes |
| Card replacement | ₹100 |
That 0.99% forex markup is one of the lowest you’ll find on a premium card in India, and HSBC applies it with no conditions. Most cards charge 2% to 3.5%, so on a ₹2 lakh holiday you’d save somewhere between ₹2,000 and ₹5,000 in markup alone.
HSBC Premier credit card eligibility
You need an HSBC Premier bank account before you can apply for the card. To qualify for Premier, you need a ₹50 lakh relationship balance with HSBC, a ₹3 lakh monthly salary credit, or a ₹1.15 crore home loan.
Here are all four ways in:
| Route | What HSBC asks for |
|---|---|
| Relationship balance | An average quarterly Total Relationship Balance (TRB) of ₹50 lakh |
| Salary | A salary account with HSBC and a net monthly salary credit of ₹3 lakh |
| Home loan | A mortgage of ₹1.15 crore, plus a ₹50 lakh TRB within 12 months of the first disbursement |
| International Premier | You’re already a qualified HSBC Premier customer in another country |
Your Total Relationship Balance isn’t just your savings account. It counts the money you hold across HSBC, such as deposits and investments, averaged over the quarter.
You might see ₹40 lakh quoted in older reviews and videos. That number still applies, but only to Premier accounts opened before 1 January 2026. If you’re opening one now, the bar is ₹50 lakh.
How to apply for the HSBC Premier credit card
- Open a Premier account. If you aren’t a Premier customer yet, request a callback on HSBC’s website and they’ll take you through the account opening.
- Visit a branch. Existing Premier customers apply for the card at an HSBC branch. There’s no instant online application for this one.
- Complete KYC. HSBC asks for the documents it needs during onboarding. Keep your KYC up to date, because the welcome points depend on it.
- Use the card within 30 days. Your first purchase unlocks the 20,000 welcome points. Fuel, fees and cash withdrawals don’t count as that first transaction.
How you earn HSBC reward points
The HSBC Premier Credit Card earns 3 reward points for every ₹100 you spend, in India and abroad, and up to 36 points per ₹100 on hotels booked through Travel with Points.
| Where you spend | What you earn |
|---|---|
| Everyday spends in India | 3 points per ₹100 |
| Spends abroad | 3 points per ₹100 |
| Car rentals on Travel with Points | 6 points per ₹100 (2X) |
| Flights on Travel with Points | 18 points per ₹100 (6X) |
| Hotels on Travel with Points | 36 points per ₹100 (12X) |
| Apple products on the HSBC Unicorn portal | 6X (until 31 October 2026) |
Points are counted in blocks of ₹100. Spend ₹1,250 and you earn 36 points, but the leftover ₹50 isn’t lost. It carries over and gets added to your next purchase.
Travel with Points: Up to 12X
Travel with Points is HSBC’s own booking platform for flights, hotels and car rentals, and it’s where this card earns fastest.
- The cap: you can earn up to 18,000 accelerated points a month. The 12X and 6X rates already include your usual 3 points per ₹100.
- Booking fees: ₹300 per person per leg on domestic flights and ₹700 on international flights.
- Paying: you can pay fully or partly with points, at ₹1 a point, and put the rest on your card. Bookings are priced in rupees, so there’s no forex charge either.
- Flexibility: you can add a “cancel for any reason” option to flights and hotels, which lets you cancel up to 3 hours before and get up to a full refund.
Here’s how that plays out. Book a ₹50,000 hotel stay and you’ll earn 18,000 points, which is about as far as the monthly cap goes. If you value those points at ₹1 each, that’s ₹18,000 back on a ₹50,000 booking. Not bad for one hotel stay.
Tip to make your PointsFly: compare the Travel with Points price with the hotel’s own website before you book. The 12X only helps if the room isn’t priced much higher to begin with. And if you spot a lower rate within 24 hours of booking, HSBC’s best-price guarantee refunds the difference as travel credit, up to ₹1,500.
Capped categories
These still earn 3 points per ₹100, but only on the first ₹1 lakh you spend across all of them in a month:
Utilities · Tax payments · Insurance · Jewellery · Education and government · E-wallets · Money transfers · Real estate · Financial institutions · Non-financial institutions · Bail and bond payments
What earns you nothing
Fuel, cash withdrawals, fees and charges, and disputed transactions earn no points. Instant EMI purchases don’t either, and cancelling or closing the EMI early won’t bring the points back. If you return something, the points from that purchase get reversed.
What your HSBC reward points are actually worth
HSBC reward points are worth ₹1 each at the Apple store and on Travel with Points, around ₹0.20 on gift vouchers, and potentially more than ₹1 when you transfer them to an airline at 1:1.
| How you redeem | Approximate value per point |
|---|---|
| Airline transfers (good award seat) | More than ₹1 |
| Travel with Points (flights, hotels, car rentals) | ₹1 |
| Apple products | ₹1 |
| Gift vouchers | Around ₹0.20 (PointsFly estimate) |
To check any redemption, use this:
Value per point = what it would’ve cost in cash ÷ points used
Take your 20,000 welcome points. Here’s where they can go:
- Apple store: ₹20,000 off an iPad or AirPods. That’s ₹1 a point.
- Gift vouchers: roughly ₹4,000 worth. That’s about ₹0.20 a point.
- Singapore Airlines KrisFlyer: 20,000 KrisFlyer miles at 1:1. If they cover a flight that costs ₹40,000 in cash, each point just did ₹2 of work.
- Marriott Bonvoy: 20,000 Bonvoy points, enough for a free night at many mid-range Marriott hotels.
Same 20,000 points, and the gap between the voucher and the flight is ten times. Want to see what your own balance could do? Try our reward points calculator. For a step-by-step guide to every redemption option, read our HSBC reward points redemption guide.
How to transfer HSBC points to airlines and hotels
- Join the programme. You need your own account with the airline or hotel before you can transfer.
- Find the seat or room first. Make sure award space exists before you move anything.
- Transfer in the app. Conversions happen in the HSBC India Mobile Banking app, and most land instantly or within a working day.
- Book straight away. Award seats don’t wait, and transfers can’t be reversed.
HSBC Premier transfer partners (India)
HSBC Premier points transfer to 20 programmes in India: 15 airlines and 5 hotel groups. Eleven of the airlines and four of the hotels are at 1:1.
Most transfers are instant or done within one working day. The exceptions are Air India and Hainan Airlines (up to 5 working days) and Japan Airlines (up to 10).
Airlines at 1:1
| Airline | Programme | Time to arrive |
|---|---|---|
| Air India | Maharaja Club | Up to 5 working days |
| Air France-KLM | Flying Blue | Instant to 1 working day |
| British Airways | The British Airways Club (Avios) | Instant to 1 working day |
| Etihad Airways | Etihad Guest | Instant to 1 working day |
| EVA Air | Infinity MileageLands | Instant to 1 working day |
| Japan Airlines | JAL Mileage Bank | Up to 10 working days |
| Qantas | Qantas Frequent Flyer | Instant to 1 working day |
| Qatar Airways | Privilege Club (Avios) | Instant to 1 working day |
| Singapore Airlines | KrisFlyer | Instant to 1 working day |
| Thai Airways | Royal Orchid Plus | Instant to 1 working day |
| Vietnam Airlines | Lotusmiles | Instant to 1 working day |
Airlines at other ratios
| Airline | Programme | Ratio |
|---|---|---|
| AirAsia | airasia rewards | 1:3 |
| Hainan Airlines | Fortune Wings Club | 2:1 |
| Turkish Airlines | Miles&Smiles | 2:1 |
| United Airlines | MileagePlus | 2:1 |
AirAsia is the odd one out. Send 1 point and you get 3 AirAsia points, which helps on short hops around Southeast Asia.
Hotels
| Hotel group | Programme | Ratio |
|---|---|---|
| Marriott | Marriott Bonvoy | 1:1 |
| Accor | ALL – Accor Live Limitless (see what Accor points are worth) | 1:1 |
| IHG | IHG One Rewards | 1:1 |
| Wyndham | Wyndham Rewards | 1:1 |
| Shangri-La | Shangri-La Circle | 5:1 |
Before you hit transfer
HSBC doesn’t publish minimum transfers or caps for each partner, so check the numbers in the app before you start. Partners can also change, so it’s worth a quick look each time.
Golden rule: seat (or room) first, transfer second. Never the other way round.
HSBC Premier credit card benefits
The main HSBC Premier Credit Card benefits are unlimited airport lounge access, a 0.99% forex markup, 20 airline and hotel transfer partners, and 20,000 welcome points. HSBC says the benefits can be worth up to ₹2.5 lakh a year.
Welcome benefit
- 20,000 reward points when you make your first purchase within 30 days of getting the card.
- The offer covers cards issued between 9 October 2025 and 31 December 2026, and you need to have paid the joining fee.
- Points arrive within 3 days of that first purchase, and you can see them in the HSBC India Mobile Banking app.
Travel
- 0.99% forex markup on every foreign currency spend.
- International travel insurance that covers delayed or lost checked bags, flight delays, missed connections and lost travel documents.
- Up to 20% off hotel bookings on Agoda.
- Mastercard hotel perks: one free night at participating hotels, and upgrades, early check-in and late checkout at 3,800+ luxury properties.
- Up to 35% off Avis car rentals and 15% off Airalo eSIMs.
Dining and entertainment
- EazyDiner: 30% off your bill, up to ₹1,500, once a month.
- BookMyShow: buy one, get one free on movies and live events, on any day, twice a month, up to ₹750 per free ticket. The current offer runs until 31 October 2026.
- District by Zomato: 10% off on dining and activities, plus buy-one-get-one cinema tickets.
Protection and fuel
- Card misuse cover of up to ₹3 lakh, starting 24 hours before you report the card lost.
- 1% fuel surcharge waiver on fuel bills between ₹400 and ₹4,000. Fuel doesn’t earn points, though.
Golfer? HSBC’s golf benefits come with your Premier bank account rather than the card. Qualified Premier customers get 24 free games and 12 lessons a year through The Golf League app.
HSBC Premier credit card lounge access
HSBC Premier gives primary and add-on cardholders unlimited airport lounge access in India and abroad, plus 8 free guest visits a year at overseas lounges.
How it works in India and abroad
- In India: you get in through the Mastercard lounge programme. The list of lounges changes from time to time, so check it before you fly.
- Abroad: you get a free LoungeKey membership, which covers 1,400+ lounges outside India. Just show your card at the desk.
- Guests: 8 free guest visits a year, at overseas lounges only.
- That US$3.25 on your statement: LoungeKey lounges swipe your card for a small hold of about US$3.25. It’s a pre-authorisation, not a fee, and it gets reversed.
If you’ve read that the card only gives 2 lounge visits a year, that’s from an old HSBC document. The current card gives unlimited visits.
2026 updates at a glance
Three things changed on the HSBC Premier this year:
- New Premier accounts opened from 1 January 2026 need a ₹50 lakh relationship balance (it’s still ₹40 lakh for older accounts).
- In July 2026, cardholders started reporting that HSBC was reversing points and sending notices over what it saw as misuse of the rewards programme.
- The 6X offer on Apple products through the HSBC Unicorn portal is set to end on 31 October 2026.
This page already reflects all three. Want the full story on the rewards crackdown and what it means for your points? Read our 2026 HSBC rewards update.
HSBC Premier credit card review: Our verdict
If you already bank with HSBC Premier, this is one of the best-value premium cards in India. You get a 3% base return, a 0.99% forex markup and unlimited lounges, and as long as you stay Premier, there’s no renewal fee to worry about.
So is the HSBC Premier Credit Card worth it? For Premier customers, almost certainly yes. The joining fee is covered by the welcome points, and after that the card costs you nothing to hold. The bigger question is whether it’s worth opening a Premier account just to get the card, and that depends on whether you’d keep ₹50 lakh with HSBC anyway.
What we like
- No renewal fee while you stay Premier
- 3 points per ₹100 everywhere, and points never expire
- 0.99% forex markup with no conditions
- 20 transfer partners, most at 1:1
What could be better
- You need a Premier bank account first
- No milestone or spend-based bonuses
- Fuel, cash and fees earn nothing
- Vouchers are poor value at around ₹0.20 a point
A great fit if you’re already a Premier customer, you spend abroad often, and you’re happy to move points to airlines or use them on Travel with Points.
A weaker fit if you’d only open a Premier account for the card, or you mostly redeem for gift vouchers.
More credit cards: HDFC Infinia · Amex Platinum · Axis Magnus
HSBC Premier credit card FAQs
Is the HSBC Premier credit card lifetime free?
Not exactly. You pay a one-time joining fee of ₹12,000 + GST. After that, the ₹20,000 + GST annual fee is waived for as long as you stay a qualified HSBC Premier customer in India, so in practice there’s no yearly fee while you keep your Premier status.
How do I qualify for HSBC Premier?
You qualify for HSBC Premier in India with an average quarterly relationship balance of ₹50 lakh, a net monthly salary credit of ₹3 lakh into an HSBC account, or a ₹1.15 crore home loan plus a ₹50 lakh balance within 12 months. Premier customers from other countries also qualify.
Is HSBC Premier hard to get?
The card itself is easy once you’re a Premier customer, because HSBC offers it to Premier account holders. The hard part is qualifying for Premier, which needs a ₹50 lakh relationship balance, a ₹3 lakh monthly salary credit or a large HSBC home loan.
Can I get the HSBC Premier credit card without a Premier account?
No. The HSBC Premier Credit Card is only available to existing HSBC Premier banking customers in India. If you aren’t one yet, you can request a callback from HSBC to open a Premier account, then apply for the card at a branch.
Do HSBC Premier reward points expire?
No. Reward points on the HSBC Premier Credit Card don’t expire under HSBC’s current programme. Points from a purchase you return or cancel are reversed, and Instant EMI purchases don’t earn points in the first place.
Is the HSBC Premier card a metal card?
Yes. HSBC calls it the HSBC Premier Metal Credit Card. It’s issued on the Mastercard World platform, which is why you’ll also see it called the HSBC Premier World Mastercard.
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Card terms change often. This page reflects HSBC India’s published terms as of 26 October 2026. Confirm current terms with HSBC before applying.
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