HSBC Premiere, any point?

[macron]

No fee and you get travel insurance, is that it? Not sure it's a card with many bragging rights, exchange rates they describe as "competitive", and money sending/ holding only through the app. sounds less convenient than a Monzo or the like.

Is there any advantage? Anything else comparable that's 'better' as it were?

[Tye Green]

the free travel insurance is worth having depending upon your insurance risk. they even advertise this benefit but unfortunately they didn't accept me even though I met the conditions so I had to pay £200+ and stayed with current bank - fk em

[JoeRRS]

As mentioned travel insurance for the family is pretty good, also lounge access via lounge key I use a fair amount but other than that I have not used anything else special apart from the premier tent at the rugby 7`s in Dubai which must have been 14-15 years ago or so that had free F&B....

[zsdom]

Free Travel insurance up to the age of 70
£500 interest free overdraft
£1000 atm daily limit
Preferential rates on some savings (better could still be had though)
Preferential rates on mortgages which can be passed on to children & grandchildren
Under 18s premier accounts
Worldwide large encashments
Relationship manager if you’re looking to discuss investments, IHT, pensions & retirements
Unsecured loans of up to £250k
Credit card points rewards
2years Extended warranty on electrical & white goods
Airport lounge access with a reduced booking fee

All for free if you meet the qualifying criteria

[EmilA]

I became eligible for this recently and upgraded to it. The only benefit that interested me was the travel insurance, looks like there are other perks which may benefit me too.

[bad company]

I had similar from Lloyds a few years ago, come and join the Lloyds Private Bank. It all sounded good and I duly allowed them to manage my investments. B****y disaster, they charged very high fees for terrible investment decisions.

Oddly enough it came good though as I took the investments out but retain the Private Bank benefits including travel insurance.

[macron]

zsdom said:

All for free if you meet the qualifying criteria

Cool, worth a shot then- thanks. Like so many of these things it's all about the detail!

[Ziplobb]

The criteria has just changed for Premier current account and the fee based credit card has gone up quite a bit but they have increased the reward points scheme so you get 3 HSBC points per £. This converts at 1.5 to various airline points schemes (not just BA and Virgin) this is quite useful if you charge a lot to the card and want some flexiability to choose rewards flights with many more airlines. It also has unlimited priority pass access.

[SkinnyPete]

An alternative to look at is Barclays Premier.

Apple TV is useful, rainy day saver, a few other bits and also the Avios scheme (but that has a monthly fee).

[The_Doc]

I've had some of these "Premier/premium" accounts and they never really make you richer.
Santander Select , HSBC etc.

You just get badgered to invest your portfolio or manage your debt with them, and my IFA is and was always better at it. All for about £100 of freebies

I now have a high street bank's cheapo current account, and move my post-bills pay out of it on 2nd of the month.
Investments with AJBell and various.
Freedom of financial choice, not tied to them.

[alscar]

bad company said:

I had similar from Lloyds a few years ago, come and join the Lloyds Private Bank. It all sounded good and I duly allowed them to manage my investments. B****y disaster, they charged very high fees for terrible investment decisions.

Oddly enough it came good though as I took the investments out but retain the Private Bank benefits including travel insurance.

I think the “ best “ thing to come from my Lloyds Private account was the daily auto sweep they offered at the time from the current account to a savings account and back again always ensuring the minimum £5k was maintained.
The travel insurance , AA cover and mobile phone insurance seems pretty comprehensive too.
I also had some of their asset management but whilst the fees weren’t low the returns were just about acceptable.

[bad company]

alscar said:

I think the “ best “ thing to come from my Lloyds Private account was the daily auto sweep they offered at the time from the current account to a savings account and back again always ensuring the minimum £5k was maintained.
The travel insurance , AA cover and mobile phone insurance seems pretty comprehensive too.
I also had some of their asset management but whilst the fees weren’t low the returns were just about acceptable.

They still do the daily sweep though the savings rate is so low it’s hardly worth bothering.

We use the annual travel insurance which is valuable for us.

[alscar]

bad company said:

alscar said:

I think the “ best “ thing to come from my Lloyds Private account was the daily auto sweep they offered at the time from the current account to a savings account and back again always ensuring the minimum £5k was maintained.
The travel insurance , AA cover and mobile phone insurance seems pretty comprehensive too.
I also had some of their asset management but whilst the fees weren’t low the returns were just about acceptable.

They still do the daily sweep though the savings rate is so low it’s hardly worth bothering.

We use the annual travel insurance which is valuable for us.

Yup - whilst the savings rate is low ( I think I get currently 2.35% ) it’s more about the need to never worry about dipping below the £5k / convenience and thus potentially be due for some fees.

[Presuming Ed]

I have the premier account for the travel insurance alone but wasn’t aware we got airport lounges as part of the account. Or is that if you take the credit card? No way am I having a credit card called global elite and pay for the privilege.

[zsdom]

Presuming Ed said:

I have the premier account for the travel insurance alone but wasn’t aware we got airport lounges as part of the account. Or is that if you take the credit card? No way am I having a credit card called global elite and pay for the privilege.

The world elite card has the annual fee and free lounge access, the normal premier card has no annual fee but a £24 per person lounge fee

[iphonedyou]

SkinnyPete said:

An alternative to look at is Barclays Premier.

Apple TV is useful, rainy day saver, a few other bits and also the Avios scheme (but that has a monthly fee).

Thanks for this! I had no idea. Now signed up via Premier and binned my wife's subscription.