Priority Destinations World Elite Mastercard® from First Hawaiian Bank Review

In the ever-evolving landscape of credit cards, finding one that perfectly aligns with your spending habits and financial goals can be challenging. Today, I will delve into the Priority Destinations World Elite Mastercard® from First Hawaiian Bank. As a financial expert, I will provide a comprehensive review, highlighting its features, benefits, and potential drawbacks, to help you make an informed decision.

Priority Destinations World Elite Mastercard® Review

The Priority Destinations World Elite Mastercard® is designed with the avid traveler in mind, offering impressive rewards on travel-related expenses and other everyday purchases. With a generous sign-up bonus, competitive rewards rates, and valuable travel benefits, this card aims to cater to those who prioritize travel and seek to maximize their miles.

Key Features

– 5x Priority Miles per $1 spent on travel purchases for the first $6,000 spent in a calendar year (2x Priority Miles thereafter).
– 2x Priority Miles per $1 spent on everyday purchases (gas after 4/30/23, groceries, cable TV, phone, and utilities).
– 50,000 Priority Miles with $3,000 spend within the first three months after opening a new account.
– $0 annual fee for the first year; $50 thereafter.
– 0% Intro fixed APR for the first six billing cycles following the opening of your new account.
– 4.99% Fixed APR for eight billing cycles on balance transfers.
– 18.00% Variable APR thereafter.
– Airport Lounge Access: Membership in Airport Lounge Access by Lounge Key, including two complimentary airport lounge visits per year ($32 per person per visit thereafter).

Priority Destinations World Elite Mastercard® Key Takeaways

The Priority Destinations World Elite Mastercard® offers a robust rewards program that is particularly advantageous for travelers. Here are the key takeaways:
– High Earning Potential on Travel: Earning 5x Priority Miles on travel purchases for the first $6,000 annually makes this card an excellent choice for frequent travelers.
– Solid Rewards on Everyday Spending: With 2x Priority Miles on everyday purchases, including gas, groceries, cable TV, phone, and utilities, the card ensures that you can earn rewards even when not traveling.
– Generous Sign-Up Bonus: The 50,000 Priority Miles bonus after spending $3,000 in the first three months provides a significant head start on accumulating miles.
– Introductory APR Offers: The 0% intro APR for six months on purchases and 4.99% fixed APR on balance transfers for eight billing cycles offer financial flexibility.
– Travel Perks: Airport lounge access and other travel-related benefits add value for those who travel frequently.

Priority Destinations World Elite Mastercard® Pros and Cons

Pros

1. Excellent Travel Rewards: The card offers 5x Priority Miles on travel purchases for the first $6,000 spent annually, which is one of the highest earning rates in the market.
2. Valuable Sign-Up Bonus: The 50,000 Priority Miles bonus is a substantial incentive for new cardholders.
3. Introductory APR Offers: The 0% intro APR on purchases and low fixed APR on balance transfers provide opportunities for interest-free financing.
4. Travel Benefits: Airport lounge access and other travel-related perks enhance the overall value for travelers.
5. No Annual Fee for the First Year: The $0 annual fee for the first year allows cardholders to test the card’s benefits without immediate cost.

Cons

1. Annual Fee After the First Year: The $50 annual fee after the first year may be a drawback for some cardholders.
2. High APR After Intro Period: The 18.00% variable APR after the introductory period can be costly if you carry a balance.
3. Limited Lounge Access: While the card offers airport lounge access, the complimentary visits are limited to two per year, with a fee for additional visits.
4. Foreign Transaction Fee: The card may charge fees for transactions made outside the U.S., which can be a disadvantage for international travelers.

Priority Destinations World Elite Mastercard® Benefits

The Priority Destinations World Elite Mastercard® comes with a range of benefits that cater to both everyday spending and travel needs.

Travel Benefits

1. Airport Lounge Access: Cardholders receive membership in Airport Lounge Access by Lounge Key, including two complimentary visits per year. This benefit provides a comfortable and relaxing environment while waiting for flights.
2. Lost Luggage Reimbursement: In the unfortunate event that your luggage is lost, the card offers reimbursement for the lost items, providing peace of mind during your travels.
3. Baggage Delay Insurance: If your baggage is delayed, the card offers insurance to cover essential items, ensuring you are not left without necessities.
4. Auto Rental Insurance: The card provides insurance coverage for auto rentals, which can save you money on rental insurance fees.

Everyday Benefits

1. Purchase Protection: The card offers purchase protection for eligible items, safeguarding your purchases against damage or theft.
2. Extended Warranty Protection: Eligible items purchased with the card receive extended warranty protection, providing additional coverage beyond the manufacturer’s warranty.
3. Fraud Protection: The card includes robust fraud protection measures to ensure your account is secure from unauthorized transactions.
4. Payment Flexibility: The introductory 0% APR on purchases and low fixed APR on balance transfers provide financial flexibility, allowing you to manage your expenses effectively.

Rewards Program

The Priority Destinations World Elite Mastercard® rewards program is designed to help you earn miles quickly and efficiently.
1. Earning Miles:
– 5x Priority Miles per $1 spent on travel purchases for the first $6,000 spent in a calendar year (2x Priority Miles thereafter).
– 2x Priority Miles per $1 spent on everyday purchases, including gas (after 4/30/23), groceries, cable TV, phone, and utilities.
2. Redeeming Miles: Miles can be redeemed for a variety of travel-related expenses, including flights, hotel stays, and car rentals, offering flexibility in how you use your rewards.

Additional Benefits

1. No Foreign Transaction Fees: While some credit cards charge fees for transactions made outside the U.S., this card does not, making it a good option for international travelers.
2. Complimentary Travel Insurance: The card offers complimentary travel insurance, including trip cancellation and interruption coverage, providing added protection for your travel plans.
3. Concierge Service: Cardholders have access to a concierge service that can assist with travel arrangements, restaurant reservations, and other personal services.

Conclusion

The Priority Destinations World Elite Mastercard® from First Hawaiian Bank is a strong contender for those who prioritize travel and seek to maximize their rewards. With a high earning rate on travel purchases, a generous sign-up bonus, and valuable travel benefits, this card offers significant value for frequent travelers. The introductory APR offers also provide financial flexibility, making it an attractive option for those looking to manage their expenses effectively.
However, the card does come with some drawbacks, including an annual fee after the first year and a high APR after the introductory period. Additionally, the limited airport lounge access and potential foreign transaction fees may be a consideration for some cardholders.
Overall, the Priority Destinations World Elite Mastercard® is a well-rounded travel rewards card that offers substantial benefits for those who travel frequently and can take advantage of its rewards program. If you fit this profile and are looking for a card that can enhance your travel experiences while providing solid everyday rewards, this card is worth considering.

Final Thoughts

As a financial expert, I recommend carefully evaluating your spending habits and travel frequency before applying for the Priority Destinations World Elite Mastercard®. If you find that the card’s benefits align with your lifestyle and financial goals, it can be a powerful tool to help you earn valuable rewards and enjoy a range of travel-related perks. Always remember to read the terms and conditions carefully and consider how the card’s features fit into your overall financial strategy.
By doing so, you can make an informed decision that maximizes the value you receive from your credit card and enhances your travel experiences.