HSBC Premier Mastercard Is No Longer Available: What Happened and 3 Alternatives
The HSBC Premier Mastercard is no longer available in Canada. HSBC Bank Canada no longer exists as a separate bank: RBC (Royal Bank of Canada) completed its acquisition of HSBC Bank Canada, with ownership of the Canadian banking business transferred to RBC effective March 28, 2024. HSBC Canada branches reopened as RBC locations on April 1, 2024, and HSBC Canada credit cards, including the Premier Mastercard, were replaced by RBC cards. As of October 2026, there is no HSBC credit card you can apply for as a Canadian resident.
The HSBC Premier cards you may still see online are issued by HSBC in other countries (for example, through HSBC’s international or expat banking arms). They are not Canadian products and are not a substitute for a Canadian card. This guide explains what happened to Premier Mastercard holders and compares three Canadian cards that serve the same type of client today.
What the HSBC Premier Mastercard was
The Premier Mastercard was a rewards card reserved for HSBC Premier banking clients in Canada. It was a relationship product rather than a card anyone could pick off the shelf: you first had to qualify for HSBC Premier. According to HSBC’s legacy fee documentation, now hosted by RBC, Premier required an active HSBC Premier chequing account plus at least one of the following: combined personal deposits and investments of $100,000 or more, a personal HSBC residential mortgage of $500,000 or more, or income deposits of $6,500 a month together with $100,000 or more in assets under management in Canada.
Its appeal was the package: a card attached to a premium banking relationship, aimed at clients with international ties who valued HSBC’s global presence. Because the product was retired with the RBC transition, its old rates, fees and rewards no longer apply to anyone in Canada.
What happened to existing HSBC Premier Mastercard holders
HSBC Canada clients did not need to reapply for anything. Their accounts were moved to RBC as part of the acquisition, and HSBC Canada credit cards were replaced with RBC cards. Reports from the time of the transition, based on the letters RBC sent to cardholders, indicate that HSBC Premier Mastercard holders were moved to the RBC Rewards Visa Preferred, a card RBC no longer offers to new applicants, while HSBC World Elite cardholders were moved to RBC Avion cards. The exact card and the points treatment were set out in each client’s personal letter from RBC.
- Your account history is still available. RBC says former HSBC clients can find past statements by signing in to RBC Online Banking, opening Documents/Statements, and choosing “HSBC Bank Canada Documents & Transactions”.
- Help for migrated clients. RBC runs a dedicated line for former HSBC Canada personal banking clients at 1-833-669-2908.
- You can switch. If the RBC card you were given does not fit how you spend, you can ask RBC about changing cards or compare options at other banks, such as the three below.
3 Canadian alternatives for former HSBC Premier clients
We picked these for people with a Premier-level profile: established credit, solid income and a preference for a card that rewards everyday spending. All figures were checked on the issuer’s website in October 2026.
1. RBC Cash Back Preferred World Elite Mastercard: stay with RBC, keep it simple
Best for: former HSBC Premier clients who are now RBC clients and want straightforward cash back instead of points.
- Annual fee: $99 ($0 for additional cards)
- Interest rates: 20.99% on purchases, 22.99% on cash advances
- Cash back: 1.5% on the first $25,000 of purchases each year, then 1%.
- Income requirement: $80,000 personal or $150,000 household.
- Network: World Elite Mastercard, so you keep Mastercard acceptance and World Elite perks.
Drawback: a flat rate rewards consistency rather than specific categories, and the rate drops to 1% after $25,000. RBC does not advertise a foreign transaction fee waiver on this card, and travel insurance is an optional paid add-on rather than built in, so it is not designed for spending abroad. Read our full guide to the RBC Cash Back Preferred World Elite Mastercard.
2. Rogers Red World Elite Mastercard: no fee, extra on US dollar spending
Best for: high earners who want a World Elite card with no annual fee, especially Rogers, Fido, Shaw or Comwave customers.
- Annual fee: $0
- Interest rates: 21.99% to 25.99% on purchases, 22.99% to 27.99% on cash advances
- Cash back: 2% on eligible purchases if you have at least one qualifying Rogers, Fido, Shaw or Comwave service, otherwise 1.5%; 3% on eligible purchases made in US dollars.
- Extras: 5 Roam Like Home days a year with an eligible Rogers mobile plan, plus included insurance such as emergency travel medical and car rental coverage.
- Income requirement: $80,000 personal or $150,000 household.
Drawback: Rogers still adds a 2.5% markup on foreign currency transactions, so the 3% earned on US dollar purchases nets out to roughly 0.5% after the fee. Other foreign currencies earn the regular rate and also pay the 2.5% markup. Read our full guide to the Rogers Red World Elite Mastercard.
3. Scotiabank Passport Visa Infinite+ Card: for international lifestyles
Best for: globally mobile clients, the core HSBC Premier audience, who spend in foreign currencies and use airport lounges.
- Annual fee: $150 (rebated with Scotiabank’s Ultimate Package chequing account)
- Interest rates: 20.99% on purchases, 22.99% on cash advances
- No foreign transaction fees: only the exchange rate applies on foreign currency purchases.
- Lounges: Visa Airport Companion membership with 6 complimentary lounge visits a year.
- Rewards: Scene+ points: 3 per $1 at Sobeys-family grocers, 2 per $1 on other groceries, dining, entertainment and daily transit, 1 per $1 on everything else.
Drawback: the annual fee is higher than the other two options unless you bank with Scotiabank, and you need to redeem Scene+ points rather than receive cash. Read our full guide to the Scotiabank Passport Visa Infinite Card.
SEE THE RBC CASH BACK PREFERRED GUIDE
Comparison: HSBC Premier Mastercard vs today’s alternatives
| Card | Annual fee | Purchase interest rate | Main benefit | Best for |
|---|---|---|---|---|
| HSBC Premier Mastercard | No longer offered | No longer offered | Rewards card tied to HSBC Premier banking (retired in 2024) | Former HSBC Premier clients |
| RBC Cash Back Preferred World Elite | $99 | 20.99% | 1.5% cash back on first $25,000, then 1% | Simple cash back at RBC |
| Rogers Red World Elite | $0 | 21.99% to 25.99% | 2% with a Rogers service (1.5% without), 3% on US dollar purchases | No-fee World Elite card |
| Scotiabank Passport Visa Infinite+ | $150 | 20.99% | No foreign transaction fees, 6 lounge visits a year, Scene+ points | International spending and travel |
How to choose after HSBC
- Decide whether you want to stay at RBC. If your banking already moved to RBC, an RBC card keeps everything under one login. If you are open to moving, the Rogers and Scotiabank cards are worth comparing.
- Check the income thresholds. RBC and Rogers ask for $80,000 personal or $150,000 household income. Scotiabank lists minimums starting at $60,000 personal or $100,000 household income, or $250,000 in assets under management.
- Look closely at foreign currency costs. Many Premier clients spent abroad. Only the Scotiabank Passport card here advertises no foreign transaction fees. Rogers adds a 2.5% markup, and RBC does not advertise a waiver on its Cash Back Preferred card.
- Count the annual fee against your rewards. At 1.5%, the RBC card’s $99 fee is covered by about $6,600 of yearly spending. The Rogers card has no fee to recover.
- Quebec residents. Some terms, insurance documents and rates differ in Quebec; check the provincial version on the issuer’s site.
- Review your RBC letter. If you were a cardholder at the transition, your letter from RBC explains which card you received and how your points were handled.
Frequently asked questions
Can I still apply for an HSBC Premier Mastercard in Canada?
No. HSBC Bank Canada was acquired by RBC in March 2024 and no longer offers credit cards in Canada. HSBC Premier cards advertised on HSBC’s international websites are issued outside Canada.
Which RBC card replaced the HSBC Premier Mastercard?
Reports from the transition indicate that Premier Mastercard holders were moved to the RBC Rewards Visa Preferred, a card RBC no longer offers to new applicants. The card you actually received is named in your letter from RBC and on your RBC statements.
Where can I find my old HSBC statements?
Sign in to RBC Online Banking, go to Documents/Statements and select “HSBC Bank Canada Documents & Transactions”. RBC’s line for former HSBC personal clients is 1-833-669-2908.
What should I do with my old HSBC card?
HSBC Canada cards were replaced by RBC cards during the 2024 transition, so use the RBC card you received instead. If you never received or activated a replacement, contact RBC’s line for former HSBC clients.
About the author
I’m a journalist and advertising professional with a degree in both fields, and a deep passion for music, TV shows, books, and all things pop culture. I love learning new languages and exploring the customs and cultures of different countries. What I enjoy most about working in communication is writing and creating SEO-driven content that makes information practical, accessible, and genuinely helpful for people who want to learn or stay informed.
