HSBC Premier Metal Credit Card – Benefits, Fees & Eligibility

HSBC Premier Metal Credit Card

Introduction

The HSBC Premier Metal Credit Card is an exclusive offering designed for HSBC's Premier customers in India. This premium card provides a comprehensive suite of benefits, spanning from extensive travel privileges to gourmet dining and luxurious lifestyle perks. Cardholders enjoy the advantage of the lowest foreign exchange markup globally, competitive reward rates with 1

redemption options for leading airlines, hotel partners, and Apple products, and unlimited airport lounge access worldwide, including 8 complimentary international guest visits. As an introductory benefit, the card provides a complimentary Taj Epicure membership, an EazyDiner Prime membership, and Taj Experience gift vouchers worth INR 12,000.

Welcome Benefits

• Complimentary Epicure membership with offers and benefits across Taj hotels.
• Taj Experiences gift card worth INR 12,000.
• Complimentary EazyDiner Prime annual membership.
• These introductory offers are valid from January 1, 2025, till December 31, 2025.

Fees

• Joining Fee: INR 12,000 + GST, paid after card activation.
• Renewal Fee: INR 20,000 + GST.
• Spend-Based Waiver: The annual renewal fee of INR 20,000 will be waived if the cardholder meets the HSBC Premier eligibility criteria.
• Renewal Fee Waiver Condition: The annual fee is waived for Premier banking customers who maintain one of the following:
  • A Total Relationship Balance (TRB) of INR 4,000,000 in India.
  • An HSBC Home Loan outstanding balance of INR 11,500,000 or more.
• Rewards Redemption Fee: INR 50 for every redemption request.
• Foreign Currency Markup: 0.99% of the transaction amount, applicable anywhere and anytime globally.
• Interest Rates: 2.99% per month (or 35.88% annually).
• Fuel Surcharge: 1% fuel surcharge waiver.
• Cash Advance Charges: INR 300 or 2.5% of the amount withdrawn, whichever is higher.

Rewards

• General Rewards
  • Earn 3 Reward Points for every INR 100 spent on all transactions.
  • Reward Points never expire, offering long-term value.
  • Offers a competitive reward rate of 3%, with no specified exceptions currently.
• Travel Benefits
  • Unlimited domestic airport lounge access for cardholders.
  • Unlimited international airport lounge access for cardholders, along with 8 complimentary international guest visits.
  • Access to over 1,400 airport lounges globally.
  • Includes international travel insurance and worldwide assistance.
• Dining & Entertainment
  • Enjoy Buy One Get One (BOGO) offers on BookMyShow any day of the week.
  • Receive 30% off your dining bill (up to INR 1,250) with EazyDiner.
• Lifestyle Benefits
  • Access to up to 24 complimentary golf lessons across India, as a Premier Account benefit.
  • Shop in style with exciting discounts and offers across marquee brands.
• Insurance & Security
  • Online fraud protection.
  • Lost card liability coverage provides insurance for misuse of your card up to INR 300,000, applicable from 24 hours before reporting the loss.
  • Emergency services are also included.
• Flexible Payment Options
  • Convenient EMI options are available, including Balance Transfer on EMI, Cash-on-EMI, and Loan-on-Phone.
  • Option to transfer your outstanding credit card balance to an HSBC credit card for easier repayments at a lower interest rate.
  • Exclusive access to discounts with select partners.

Rewards Redemption Guide

• Reward points offer 1
  conversion to air miles across more than 20 domestic and international airlines.
• Points can be redeemed for Apple products (via Imagine vouchers) at a 1
  ratio, where 1 point is equivalent to INR 1.
• Cardholders can convert their Reward Points into various airline and hotel loyalty programs.
• Reward points can also be redeemed against e-vouchers or products available on the bank’s rewards catalogue.
• A redemption fee of INR 50 applies for every reward redemption request.
• Airmiles Program Conversion Ratios (Reward Points to Airmiles):
  • Air India Maharaja Club: 1
  • Etihad Airways: 1
  • Singapore Airlines (Kris Flyer): 1
  • British Airways Executive Club (Avios): 1
  • Air France - KLM: 1
  • Air Asia: 1
  • Hainan Airlines Fortune Wings Club: 2
  • Qantas Frequent Flyer: 1
  • Royal Orchid Plus: 1
  • Vietnam Airlines Lotusmiles: 1
• HSBC Reward Points have lifetime validity.

Card Eligibility Criteria

• Eligibility Rules:
  • Applicants must be an existing HSBC Premier customer in India.
  • To qualify for an HSBC Premier banking relationship, one must meet any of the following criteria:
    • Maintain a quarterly Total Relationship Balance (TRB) of ₹4,000,000.
    • Have a mortgage relationship with a disbursal of ₹11,500,000 or more with HSBC India.
    • Hold a corporate salary account under the HSBC Corporate Employee Programme (CEP) in India with a net monthly salary credit of ₹300,000 or more into the account.
• Documents Required:
  • Identity/address proof (e.g., Aadhaar card, Voter card).
  • Proof of income (e.g., salary slips, audited ITR acknowledgment).

Card Review

The HSBC Premier Metal Credit Card is a premium offering exclusively for the bank's Premier Relationship members, making it distinct from general credit cards in the market. Its complementary nature for Premier customers, combined with a robust reward rate of 3% and a suite of high-end benefits, makes it a valuable addition for those who meet the eligibility criteria. It particularly shines for frequent travelers, offering one of the lowest foreign exchange markups and extensive global lounge access. While it provides significant value for Premier customers, some might argue that given the high-tier banking relationship required, the credit card benefits could be further enhanced to compete with other banks' top-tier offerings. However, for an already qualified Premier customer, this card offers a compelling package of privileges.

Important Product Details

• Positive Highlights:
  • Exclusive metal card design.
  • Lowest foreign exchange markup globally at 0.99%.
  • High reward rate of 3 Reward Points per INR 100 spent, with points that never expire.
  • Exceptional reward redemption flexibility, including 1
    conversion to air miles across over 20 airlines and 1
    (INR 1 value) on Apple products.
  • Extensive airport lounge access: unlimited domestic and international for cardholders, plus 8 international guest visits.
  • Generous welcome benefits: complimentary Taj Epicure membership, INR 12,000 Taj gift card, and complimentary EazyDiner Prime membership.
  • Comprehensive insurance coverage including international travel insurance and lost card liability up to INR 300,000.
  • Lifestyle perks such as Buy One Get One movie offers, dining discounts (30% off with EazyDiner), shopping offers, and complimentary golf lessons.
  • Flexible payment options like EMI conversion and balance transfer facility.
  • Annual fee waiver for qualifying Premier banking customers.
• Negative Highlights:
  • Significant joining fee (INR 12,000 + GST) and renewal fee (INR 20,000 + GST) if Premier banking relationship criteria are not consistently maintained.
  • Limited accessibility as it's exclusive to existing HSBC Premier customers.
  • A rewards redemption fee of INR 50 is charged per request.

Other Details

• The card has an overall rating of 4.4/5.
• It is best suited for individuals with a focus on Travel and Shopping.
• The card earns Reward Points.
• HSBC Customer Care for Premier cardholders offers a 24x7 helpline. You can reach them at 1800 266 3456 (within India) or +91-40-61268001 (from overseas).
• Online applications are recommended using the latest version of Chrome or Safari.
• Alternatively, applications can be made via phone calls or by visiting a local HSBC branch.