HSBC Premier Mastercard: fees, interest and requirements
The HSBC Premier Mastercard has an annual fee of ₱6,000 a year and charges 3% a month on unpaid balances.
Verdict: Worth it if you fly often enough that its miles or lounge access are worth more than ₱6,000 a year to you. Skip it if you spend a lot abroad (3.5% foreign fee).
From HSBC Credit Card Fees and Charges. Interest cap, in force since 2023: BSP Circular No. 1165, s.2023.
₱20,000 repaid in 3 equal monthly payments at 3% a month costs ₱1,212 in interest; add the ₱6,000 annual fee and a year comes to ₱7,212, 118th lowest of 127 cards open to the public (tied with 6).
HSBC's closest card is the HSBC Red Platinum Mastercard. Against it, this card costs ₱6,000 a year instead of ₱2,500, earns rewards on different terms and has different perks.
BSP supervised: The Hongkong & Shanghai Banking Corporation, universal and commercial bank, BSP institution ID 12, is on the BSP Verifier list dated Sep 28, 2026.
What the HSBC Premier Mastercard gives you
- For every PHP20 spent, earn 4 bonus points on overseas purchases, and 3 bonus points on local shopping and dining transactions. HSBC card page
- Only HSBC Premier account holders are eligible for an HSBC Premier Mastercard. same page
- Enjoy membership to more than 1,300 airport lounges worldwide. same page
- Enjoy free Travel Insurance coverage same page
- 6% rebate on your first Caltex fuel purchase plus 3% rebate all year round. same page
Who should get the HSBC Premier Mastercard
| If | Then |
|---|---|
| You pay in full every month and want a travel and miles card | The Maya Black Credit Card (Maya) needs ₱180,000 a year in income and costs ₱6,000 a year less as long as you use it monthly. Pick the HSBC Premier Mastercard only if its rewards are worth more than that to you. |
HSBC Premier Mastercard downsides, and what a late payment costs
- Without the required deposit balance, the fee is ₱6,000 a year.
- Foreign currency purchases cost 3.5% extra.
If you pay late: HSBC charges up to ₱1,500, and 3% a month interest runs on what is unpaid. Safe action: pay at least the minimum due by the due date, or the full balance to pay no interest.
HSBC Premier Mastercard annual fee, interest and charges
| Charge | HSBC Premier Mastercard | When, and the rule |
|---|---|---|
| Annual fee | ₱6,000 a year Supplementary: free | Free for life for HSBC Premier account holders. ₱6,000 a year (supplementary ₱3,000) if you do not keep the Premier Total Relationship Balance. HSBC fee page |
| Interest | 3% a month | At the BSP ceiling of 3% a month (Circ. 1165). same page |
| Cash advance | ₱200 a withdrawal plus 3% a month interest | The BSP maximum (Circ. 1165). same page |
| Late payment | ₱1,500 | same page |
| Foreign transactions | 3.5% | same page |
Figures from HSBC Credit Card Fees and Charges. BSP ceilings: BSP Circular No. 1165, s.2023. How HSBC words its late-fee, foreign-fee and minimum-due rules, the same on all its cards: HSBC billing rules.
Requirements and how to apply
Apply with the button below. Channels, documents, status and hotline: HSBC contact and requirements.
Interest on your own balance
- Interest you pay at 3% a month:
- ₱1,212
- Monthly payment:
- ₱7,071
- Total you pay:
- ₱21,212
Against similar cards from other banks
| Card | Annual fee | Interest a month | ₱20,000 over 3 months, plus fees | Minimum income |
|---|---|---|---|---|
| HSBC Premier Mastercard HSBC | ₱6,000 a year free with a deposit balance | 3% | ₱7,212 | - |
| UnionBank Go Rewards Platinum Visa UnionBank | ₱5,000 a year | 3% | ₱6,212 | ₱600,000 a year |
| UnionBank Cebu Pacific Platinum UnionBank | ₱5,000 a year | 3% | ₱6,212 | ₱600,000 a year |
| BDO Visa Platinum BDO | ₱4,500 a year waived above a spend | 3% | ₱5,712 | ₱924,000 a year |