HSBC Premier drops its income requirement to £75,000 – can you get the best Avios Mastercard?

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• Sam says:

  26 Mar26 March 14:39

  Does anyone know the cancellation policy on the Premier Elite card and when you can reapply to be eligible for the welcome bonus again?

  • Rob says:

    26 Mar26 March 19:51

    No. Still a fairly new product.

    • James says:

      31 Mar31 March 12:59

      Yes, you can. I upgraded this morning, Advance to Premier and standard credit card to Premier.

      They did point out I’d lose the 0% promotional period (would end on my next statement) but I wasn’t using it anyway.

  • Polly says:

    26 Mar26 March 23:09

    Nothing when you renew or refer. Lots of hassle as you complete a year. Esp if you want to drop down to free card. In the end l kept qioting how great Amex are at keeping customers etc etc. Their csa team dont really know how this product works. I had to explain their own t and c to them they had not a clue.I had to insist on dealing at management level. And face another hurdle in July at renewal again. In the end they credit back my fee to me last year for all the grief. Haven’t decided whether to keep it for a 3rd year. But we do put a lot of spend through it so it is useful to have.

• Costas says:

  27 Mar27 March 10:17

  Does it make sense to pay for the paid card when you have A3*G and BA Gold and have access to the free card (and an amex as well?)

• Michelle says:

  27 Mar27 March 20:47

  My husband and I were offered the Premier account today – not sure it’s worth it as the criteria is that we need to move our savings to HSBC or purchase a life cover product. We were looking at NatWest Premier- Reward Black account instead. The account has a larger monthly fee but cheaper than taking out a product with HSBC and it also includes a Priority Pass membership – does anyone have the NatWest account?

  • Alex says:

    28 Mar28 March 12:21

    According to Bonglim post above, you only need to put £100 in one HSBC investment fund and that’s it.

• Alex says:

  28 Mar28 March 02:40

  Just to confirm – are the total 40,000 Avios points for spending £12,000 in the first year credited if you’ve paid just 1 annual fee? I.e. without the need to renew for the next year?

  • Rob says:

    28 Mar28 March 08:18

    Some get away with it if they fight HSBC but most fail and must renew.

    • James says:

      31 Mar31 March 13:04

      They have cleared this up for new applicants – you have to pay the 2nd year to get the bonus points:

      “Spend £12,000 or more on your card within your first 12 months of membership to receive a further 40,000 reward points at the anniversary of card membership.”

      • Polly says:

        3 Apr3 April 07:33

        Which is simply blackmail…you might not chose continue with the elite and need to drop down to the free premier card. Then what happens? You really have to fight for a fee refund. Not cleared up at all, actually.

• Ant says:

  29 Mar29 March 17:05

  Can anyone that did the £100 into the Global Investments account to qualify tell me how you transfer the £100? Managed to open the account but the bank said there should be an option to transfer cash into the account which i can’t find….? Figured if i transfer cash it wouldnt attact the fees associated with investments or is that not possible?

  • luckyjim says:

    2 Apr2 April 15:09

    When you start a global investment portfolio ISA they will automatically create an ‘uninvested cash’ account for you. You need to move cash from your current account into this before you can buy any funds. You could just leave it as a cash but your new best friend (relationship manger) might ask about it.

    You probably don’t get an ‘uninvested cash’ account with a non-ISA portfolio. The idea is that you can buy and sell funds – or hold cash – within the ISA portfolio.

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