HSBC Premier World Mastercard vs IDFC FIRST Millennia Credit Card Compared
Which credit card suits you? Side by side on the numbers that decide it. A blank means the provider has not published that figure, not that it is zero. Data last verified: 11 October 2026.
| Feature |  HSBC Premier World MastercardHSBC India5 recent changes → |  IDFC FIRST Millennia Credit CardIDFC First Bank7 recent changes → | |
|---|---|---|---|
| Rewards by spend | |||
| Rewards | 3% on most spends; 36% only at partner merchants | 0.38% base, up to 1.25% on dining | |
| UPI payments (scan and pay)same | Earns nothing | Earns nothing | |
| Online shopping | 3% | 0.38% | |
| Dining and food delivery | 3% | 1.25% | |
| Groceries | 3% | 0.38% | |
| Travel: flights, hotels, trains | 3%; 36% only at HSBC Travel with Points · hotels; 18% only at HSBC Travel with Points · flights | 1.25% | |
| Fuelsame | Earns nothing | Earns nothing | |
| Bills and recharges | 3% | 0.13% | |
| Rent | 3% | 0.38% | |
| Insurance premiums | 3% | 0.38% | |
| School and college fees | 3% | 0.38% | |
| Wallet top-ups | 3% | 0.38% | |
| Taxes and government payments | 3% | Not stated | |
| Spend abroad or in a foreign currency | 3% | 1.25% | |
| Everything else | 3% | 0.38% | |
| Card identity | |||
| Card type | Travel | Dining | |
| Network | Mastercard | Visa | |
| Card tier | Super premium | Entry | |
| Fees | |||
| Joining fee | ₹12,000 + GST | Free | |
| Annual fee | ₹20,000 + GST | Free | |
| Lifetime free | No | Yes | |
| Eligibility | |||
| Employment type | - | BOTH | |
| Min monthly salary | ₹3,00,000 | ₹25,000 | |
| Rewards | |||
| Reward typesame | Reward points | Reward points | |
| Point value | ₹1 | ₹0 | |
| Fuel surcharge | |||
| Fuel surcharge waiversame | Yes | Yes | |
| Lounge access | |||
| Domestic lounge visits | - | 0 | |
| International lounge visits | - | 0 | |
| International lounge unlimited | Yes | No | |
| Railway lounge visits | - | 16 | |
| Lounge programme | MASTERCARD | - | |
| Lounge condition | Unlimited LoungeKey international lounge access + Mastercard domestic lounges | Spend Rs 20,000 in the previous month for lounge access | |
| Forex and international | |||
| Forex markup | 0.99% | None | |
| Interest and charges | |||
| Interest rate (monthly) | 2.99% | 0.71% | |
| Interest rate (annual) | 35.88% | 8.52% | |
| Redemption | |||
| Redemption fee | - | ₹99 | |
| Page content | |||
| Documents needed | - | PAN card Aadhaar / valid address proof Latest 3 months bank statement Income proof, salary slips (salaried) or ITR (self-employed) Recent passport-size photograph | |
| Apply | Apply Now | Apply Now | |
Worth in Rupees at ₹20,000 a Month
- Rewards a year
- ₹7,200
- Fee a year
- - ₹23,600
- You keep
- - ₹16,400
- Rewards a year
- ₹1,440
- Fee a year
- ₹0
- You keep
- ₹1,440
At this spend, IDFC FIRST Millennia Credit Card comes out ₹17,840 a year ahead of HSBC Premier World Mastercard. Worked out from each card's published reward rate, caps and fee, on ₹20,000 a month. Your own spend changes the answer: try the rewards calculator.
Best For
- Frequent flyers: unlimited airport lounge visits
- Spending abroad: 0.99% markup, most cards add 3.5%
- First-time card users
- Young earners
- UPI payment users
- People who want no annual fee
Watch-Outs
- Skip it if you spend less than ₹66,000 a month: below that the ₹23,600 fee costs more than the rewards
- Skip it if most of your spending is fuel: those earn nothing on this card
- Skip it if you pay mostly by UPI: a Visa or Mastercard card cannot pay by UPI
- Skip it if you sometimes pay only the minimum due: interest of 2.99% a month (35.88% a year) outweighs any reward
- Base earning is only about 0.38%
- Low earning on utility bills
- No airport lounge access
Card data sourced via CardAdvisor.in, India Credit Card Facts, CC BY 4.0, adapted by SkyloFin.
Questions People Ask
Which has the lower annual fee, HSBC Premier World Mastercard or IDFC FIRST Millennia Credit Card?
IDFC FIRST Millennia Credit Card. IDFC FIRST Millennia Credit Card: no annual fee; HSBC Premier World Mastercard: ₹20,000. Check whether a spend-based waiver applies before you decide.
Which is better for spending abroad?
IDFC FIRST Millennia Credit Card has the lowest forex markup. IDFC FIRST Millennia Credit Card: 0%; HSBC Premier World Mastercard: 0.99%. The markup is charged on every foreign-currency transaction, before GST.
Which earns more on everyday spending?
On spends outside any bonus category: HSBC Premier World Mastercard 3%, IDFC FIRST Millennia Credit Card 0.38%. Bonus categories, rates limited to named merchants and monthly caps change the picture, so compare the rewards by spend too.
Which is easier to get?
By stated minimum monthly income: IDFC FIRST Millennia Credit Card ₹25,000, HSBC Premier World Mastercard ₹3,00,000. Banks also weigh your credit score and existing relationship, so meeting the income is not a guarantee.
Can I hold more than one of these cards?
Usually yes, if each bank approves you. Many people keep one card for everyday spending and another for a specific use such as travel. Each application is a separate credit check.
Work Out the Numbers
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Guides in Plain Words
Short reads that explain how it works before you decide.
- GuidesBest Credit Cards Under ₹500 a Year in India (2026)Credit cards with an annual fee of ₹500 or less (before GST) in 2026, ranked by the reward rate each bank states, with fee waivers.Read the guide →
GuidesNo-Cost EMI: What It Really Costs You, With a Worked ExampleNo-cost EMI is not a trick, but it is rarely free. Here is where the money goes: the discount you give up, the processing fee, and GST on the interest, worked out on a Rs 30,000 phone.Read the guide →- GuidesBest Online Shopping Credit Cards in India (2026)The credit cards that pay the most back on online shopping in 2026, which sites count, the monthly cap and the annual fee.Read the guide →
