Filling the Void: Great Alternatives to the HSBC World Elite Mastercard

By the end of March 2024, Canada will lose one of its longstanding stalwart credit cards when the HSBC World Elite Mastercard is gone forever.

The HSBC World Elite Mastercard was much beloved as a travel card due to its many keystone features: no foreign transaction fees, flexible points, a $100 annual travel enhancement credit, World Elite Mastercard benefits, strong insurance, and more.

In this article, we’ll share our picks for cards to replace the HSBC World Elite Mastercard. Depending on which features you valued most from the departing card, you may consider one or more of the cards we suggest below.

Cards with No Foreign Transaction Fees

For years, the HSBC World Elite Mastercard was our top choice for a travel credit card with no foreign transaction fees. 

If you’re transitioning from the HSBC World Elite Mastercard to the RBC^® Avion Visa Infinite^†, it’s worth noting that you’ll continue to enjoy no foreign transaction fees on the transitioned card. However, you may want to apply for that card separately to leverage the welcome bonus, even though it won’t come with no foreign transaction fees as a feature for new applicants, as we’ll discuss below.

If you value the no foreign transaction fee feature on the HSBC World Elite Mastercard, then you’ll want to find a suitable replacement once the card is phased out forever.

As it stands, the best travel credit card with no foreign transaction fees is the Scotiabank Passport Visa Infinite Card, which was the winner of the 2023 Prince of Travel Award for Canada’s best no foreign transaction fee card, and is our pick for this category here as well.