Chase Sapphire Preferred® vs HSBC Premier World Mastercard®
Side-by-side comparison
| Chase Sapphire Preferred® | HSBC Premier World Mastercard® | |
|---|---|---|
| Annual fee | $95 | $95 |
| Welcome offer | 75,000 Ultimate Rewards® Points | 50,000 bonus points |
| Dining | 3x | 1x |
| Groceries | 3x | 3x |
| Gas | 3x | 3x |
| Travel | 2x | 2x |
| Streaming | 3x | 1x |
| Everything else | 1x | 1x |
| Est. yearly rewards* | $545 | $473 |
| Points type | Transfers to airlines & hotels | Transfers to airlines & hotels |
| Network | Visa | Mastercard |
*Estimated yearly rewards on typical household spending, every point valued at a flat 1 cent. Verified August 2026. See your own numbers in the calculator.
Welcome bonus and value over time
| Over time | Chase Sapphire Preferred® | HSBC Premier World Mastercard® |
|---|---|---|
| Welcome bonus | 75,000 Ultimate Rewards® Points | 50,000 bonus points |
| To earn it | $5,000 in 3 months | $4,000 in the first 3 months |
| Est. first-year value* | $1,430 | $1,083 |
| Est. ongoing value / yr* | $680 | $583 |
The Chase Sapphire Preferred® wins on both fronts: it comes out ahead in year one on the welcome offer and stays ahead every year after. Short term or long, it is the stronger pick on the numbers.
*First-year value counts the welcome bonus, estimated rewards, and annual credits, minus the annual fee; ongoing value is a typical year after. Every point at a flat 1 cent.
Perks, credits, and redemptions
| Perks | Chase Sapphire Preferred® | HSBC Premier World Mastercard® |
|---|---|---|
| Lounge access | None | None |
| Annual credits | ~$230/yr (4 credits) | ~$205/yr (4 credits) |
| Points & redemptions | Transferable to airline & hotel partners | Transferable to airline & hotel partners |
The two are closely matched on perks and redemptions, so the welcome offer and everyday earning above are what should decide it.
Transfer partners and point value
Only the Chase Sapphire Preferred® earns transferable points. Its Chase Ultimate Rewards move to World of Hyatt, United, Air Canada, Southwest, and British Airways Avios, where a point can be worth several cents on a premium-cabin redemption, far above its cash value. The HSBC Premier World Mastercard® pays flat cash back, worth about a cent, so its ceiling is nearer a penny per point no matter how you redeem.
The verdict
On a typical year of household spending, the Chase Sapphire Preferred® earns about $545 a year in rewards and the HSBC Premier World Mastercard® about $473, valuing every point at a flat 1 cent. The Chase Sapphire Preferred® charges $95, but carries about $230 in annual statement credits that offset it for anyone who uses them. The HSBC Premier World Mastercard® charges $95, but carries about $205 in annual statement credits that offset it for anyone who uses them. Counting rewards, fees, and any credits, the Chase Sapphire Preferred® delivers more total value, about $84 a year more for a typical spender, mostly because it earns more where you spend most, on dining and streaming. Both earn transferable points rather than flat cash, so the deciding factor is whose transfer partners reach the airlines and hotels you would actually book. On the sign-up bonus, the Chase Sapphire Preferred® currently has the larger welcome offer. A welcome bonus is a one-time event, so weigh it apart from the ongoing rewards.
Pick the Chase Sapphire Preferred® if your spending leans toward dining, streaming.