Obtaining the HSBC Premier Credit Card is not a standard application process; it is an invitation to upgrade your entire banking relationship.
Unlike other lenders who simply check your credit score, HSBC requires you to join their “Premier” ecosystem first. The credit card is a perk of membership, not a standalone product. This means the application has two distinct stages: Qualifying for the Bank Account and then Requesting the Card.
This guide is designed for high-net-worth individuals. We will navigate the strict new eligibility criteria (updated for 2025), the documentation required to prove your wealth, and the seamless “Switch” service to move your financial life to HSBC.
HSBC Premier Credit Card
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Annual Fee
£0
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Welcome Bonus:
Up to 60,000 Points
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Purchase Rate:
26.9% APR (Variable)
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Eligibility: Requires an existing HSBC Premier or Private Banking Account.
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Rewards: Earn 1 point per £1 spent in Sterling (2 points in foreign currency) on the Premier Card.
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0% Offers: Up to 18 months 0% on balance transfers (2.99% fee applies).
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Travel: Discounted access or unlimited access to airport lounges (depending on the specific Premier Card).
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Excellent Rewards: Points convert into airline miles (e.g., British Airways, Emirates) or shopping vouchers.
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Global Recognition: Ideal for customers with international banking needs.
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Purchase Protection: Extended warranty and Purchase Protection cover included.
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No Annual Fee Option: The standard Premier Credit Card has no annual fee.
Phase 1: The “Gatekeeper” Criteria (Updated)
You cannot apply for this credit card unless you hold an HSBC Premier Bank Account.
Warning: The eligibility rules have recently tightened. While the threshold used to be £75,000, new applicants must now meet one of the following stricter criteria to open the account:
- Income Route: You must pay your annual income into the account, and that individual gross income must be £100,000 or more.
- Savings Route: You must hold at least £100,000 in savings or investments with HSBC UK.
- International Route: You already qualify for HSBC Premier in another country (e.g., USA, Hong Kong, UAE).
If you do not meet one of these three criteria, your application will be declined, or you will be offered a standard “Advance” account instead.
Phase 2: Opening the Premier Bank Account
If you meet the criteria, the application for the account is the biggest hurdle. Once this is open, getting the credit card is a formality.
How to Apply
- New to HSBC: The most efficient method is via the HSBC UK Mobile Banking App. The app uses facial recognition to verify your ID instantly, skipping the need for a branch visit in most cases.
- Existing HSBC Customers: If you already bank with HSBC (e.g., Advance or Student account), you must “Upgrade” your status. You can do this by logging into Online Banking or calling the Premier support line to request a relationship review.
The “High Net Worth” Documentation
Because this is a premium account, the vetting is more thorough than for a standard Monzo or Starling account. Have these ready:
- Proof of Income: If applying via the Income Route, you may need 3 months of payslips or a P60 showing the £100k+ figure. Self-employed applicants will generally need their latest SA302 tax calculation.
- Proof of Wealth: If applying via the Savings Route, have statements ready from your current investment provider showing the funds you intend to transfer.
- Identity: A valid Passport or Driving Licence. The digital check will ask you to scan this and take a “selfie” video.
Phase 3: Applying for the Credit Card
Once your Premier Bank Account is active (usually 24-48 hours after approval), the door is open.
- Log in to the App: Go to the “Products” section.
- Select “Credit Cards”: You will see the HSBC Premier Credit Card (and the paid “World Elite” version).
- One-Click Application: Because HSBC has already verified your income and identity for the bank account, this form is incredibly short. It mostly checks that your circumstances haven’t changed overnight.
- Instant Decision: Most Premier customers receive an instant approval with a generous credit limit (often £5,000+).
The Strategic Switch: Maximising Value
If you are moving your main banking to HSBC to get this card, use the Current Account Switch Service (CASS).
- It’s Guaranteed: The service moves all your Direct Debits, Standing Orders, and salary payments from your old bank (e.g., Barclays, Lloyds) to HSBC automatically in 7 working days.
- Potential Bonus: HSBC often runs “Switch Offers.” Currently, there are incentives for customers who invest significant sums (e.g., £100k+), sometimes offering cashback rewards. Check the “Offers” page before you start the switch to ensure you opt-in.
Final Checklist Before You Begin
- Check your P60: Ensure your gross income is officially over £100,000. If it is £99,000, you will likely be rejected for Premier status.
- Download the App: It is faster than the website.
- Prepare for the “World Elite” Question: During the application, you will be asked if you want the “Premier World Elite” card instead. Remember: The standard Premier card is free; the World Elite costs £195/year but adds lounge access. Choose carefully based on your travel habits.
Ready to upgrade your financial status? If you meet the criteria, the HSBC Premier relationship is one of the most rewarding in the UK banking sector.
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