HSBC World Elite vs Amex Platinum (UK)

Let's take a break from all the Amex cards and look at a Mastercard from HSBC which offers some great benefits at a much lower fee than the Amex Platinum.
Btw, HSBC currently offers £200 bonus for switching your current account to HSBC Premier which would more than cover the annual fee for the card in this video!
HSBC World Elite Mastercard: www.hsbc.ca/credit-cards/prod...
HSBC Premier (+ £200 switching bonus): www.hsbc.co.uk/current-accoun...
#creditcards #americanexpress #hsbc #mastercard #prioritypass

[@Maydaymusik]

Here in the first 50, keep going bro

[@junkoandnigelwates403]

Very useful thank you

[@LoyaltyLlama]

Thanks!

[@tiggerish]

Great video!

[@LoyaltyLlama]

Thank you!

[@zuowang5185]

There is so little info on the hsbc premier travel insurance. I would love to see car rental insurance covered by credit card like chase sapphire reserve

[@LoyaltyLlama]

For what it's worth, the Amex Platinum does cover car rental. But the HSBC Premier is a lower tier product, yeah. On the bright side though, it comes for free!

[@markellis3411]

It's very good. I've claimed a couple of times and they've paid with no issues whatsoever

[@T2P181]

I'm interested in the HSBC card, but after the two welcome bonuses, it would make more sense to downgrade to the standard premier card. Or do they offer incentives?

[@LoyaltyLlama]

Officially, there're no further incentives. I haven't heard of them giving retention offers (and I didn't get one when closing the card either)

[@akshaypotdar1840]

Could you do similar video on Lloyds/Halifx world elite mastercard? Seems to be relatively cheaper, priority pass (unlimited access?), and fast track airport secuirty, cashback (as opposed to points), and the eligibilty doesn't seems to be as high as HSBC? Not sure what I am missing?

[@LoyaltyLlama]

Yep, this card has been on my list to review since November. Stay tuned, I'll definitely try to publish something this month! In short, the Lloyd's / Halifax card is a really good way to get lounge access - £180 / year to get lounge access for 2 people. With HSBC you'd pay £255 (£195 + £60 for the supplementary card holder). The only downside I can think of off the top of my head is the rewards structure: 0.5% cashback + lack of a welcome bonus is (in my view) quite weak. But, again, it's just my personal view and I'll go into more detail in the video!

[@akshaypotdar1840]

@@LoyaltyLlama Thanks, looking forward to it. Perhaps travel insurance is not included?

[@AviationAdam]

This is 100% the best way for someone to get unlimited lounge access as cheaply as possible. The poor rewards is a non-factor really, a lot of people would get this card just for the lounge access and fast track security, and there’s no income requirement or special bank account required. And if there’s an additional cardholder then it’s only £90 a year each which is a steal, given it’s like £400/year for lounge access with priority pass. I have the Santander world elite Mastercard which is basically the same, £15 a month and you can have a free additional cardholders provided they live at your address and are related to you. But with the added benefit of zero foreign transaction fees. You’re supposed to have a select account for that but I got away with it somehow. For most people, the Halifax and Lloyds ones are without a doubt the best value. HSBC is bad value because it has the highest fee at £195/year rather than £15/month, requires the Premier account and income/savings requirement, foreign transaction fees are applicable and an additional cardholder costs extra.

[@vase1in855]

How is elite premier vs amex gold?

[@LoyaltyLlama]

My personal pick between the 2 was Amex Gold as I valued the better points earning, Deliveroo credits and only needed a limited number of lounge passes.

[@sender5804]

you didn't mention Amex sign up bonus - could be 60k

[@LoyaltyLlama]

Ah, you're right! It's a significant factor when picking between cards.

[@rlspluto5811]

Met anyone with coutts bank or Black Amex’s in uk

[@LoyaltyLlama]

I haven't, actually :) Though coutts doesn't offer much in the way of rewards. As a private bank they focus on delivering bespoke service.

[@rlspluto5811]

@@LoyaltyLlama yeah coutts bank just the real elite who don’t care about rewards more about experience and more but please can you talk about it ?

[@LoyaltyLlama]

I can certainly try! Let me see if I can find anyone with first hand experience as I don't like talking about things I have only theoretical knowledge of.