HSBC India TravelOne Credit Card Review
A review of the HSBC India TravelOne Credit Card. Find out if this card deserves a place in your wallet.
HSBC India has been stirring up its credit card offerings in the country as of late. Following the recent overhaul of its HSBC Premier Credit Card, HSBC has now introduced the HSBC TravelOne Credit Card.
This is a travel-focused, miles-earning credit card with an extensive list of 20 transfer partners.
But is it any good? And does it deserve a place in your wallet? Let’s take a closer look.
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Qualifying Criteria
Unlike the HSBC Premier Credit Card, the TravelOne has relatively accessible qualifying criteria, requiring a minimum annual income of ₹4L. It’s available to residents of Chennai, Gurgaon, the Delhi National Capital Region (NCR), Pune, Noida, Hyderabad, Mumbai, Bangalore, Kochi, Coimbatore, Jaipur, Chandigarh, Ahmedabad, or Kolkata.
However, keep in mind that HSBC has a fairly stringent underwriting policy. They are known to reject applications from users who hold many credit cards or credit lines, so your mileage may vary.
Fees
The HSBC TravelOne Card carries a joining and annual fee of ₹4,999 + GST and offers 3,000 points as a one-time welcome benefit after spending ₹1L within 90 days of card issuance. The card doesn’t include any ongoing annual or renewal benefits.
As part of a launch introductory offer, HSBC also provides:
• ₹1,000 Cashback
• ₹3,000 Post Card Voucher
• 3 Months of EazyDiner Prime Membership
These perks are available if you download the HSBC Mobile App and spend ₹10,000 within the first 30 days. Additionally, the annual fee is waived if you spend ₹8L or more in a year.
One notable downside is the high forex markup fee of 3.5% + GST, which is a significant drawback for a travel-focused credit card.
Earning Rate
The HSBC TravelOne Credit Card offers two primary earning categories:
• Flat rate: Earn 2 points per ₹100 spent on all transactions, with no cap.
• Accelerated rate: Earn 2x points (4 points per ₹100 spent) on Airlines, Travel OTA, and Forex transactions, capped at 50,000 points per month (equivalent to ₹12.5L in spending).
As is increasingly common, certain transactions are excluded from earning rewards:
• Utilities (4900), insurance (6300, 5960), jewellery (5944, 5094)
• Education and government payments (9399, 8299, 8220, 8211, 8241, 8244, 8249, 9222, 9402, 9211, 9405), tax payments (9311), real estate agents and managers (6513), bail and bond payments (9223)
• Financial institutions (6010–6012), non-financial institutions (6051), money transfers (4829), e-wallets (6540)
• Fuel (5541, 5983, 5172, 5542, 5552)
Other Features & Benefits
Beyond earning rewards, the TravelOne Card offers notable discounts with key partners:
• Yatra: 15% off, capped at ₹3,000 for domestic flights and hotels and ₹5,000 for international flights and hotels, available twice per card year.
• EaseMyTrip: 15% off, with the same caps as Yatra.
• Paytm: 15% off, capped at ₹5,000 on flights (minimum transaction value ₹5,000) and ₹500 on bus bookings (minimum ₹500).
• Cleartrip: 15% off, capped at ₹3,000 for domestic flights and ₹5,000 for international flights. The offer can be redeemed once every six months.
• StayVista: 11% off, up to ₹3,000, available twice per calendar year.
• Zomato: 10% off on events, dining, and movies.
• AdaniOne Duty-Free Shopping: 20% off (minimum spend ₹8,000; max savings ₹3,000), once per card per year.
Lounge Access: You get 6 domestic and 4 international lounge visits every year via the LoungeKey network.
Purchase Protection: Another interesting feature with this card is that it offers purchase protection against damage, theft or other issues on purchases made using this card up to an annual aggregate limit of ₹16.66,600 per year with a per occurrence limit of ₹2,49,990. The policy is underwritten by TATA AIG.
Milestones
The card features only one milestone reward: 10,000 points for achieving ₹12L in annual spending. This single milestone is underwhelming compared to cards like the Axis Atlas, which offer multiple milestone benefits. A more tiered approach would have been a much stronger incentive.
Redemptions
The main highlight of the HSBC TravelOne Card is its extensive list of transfer partners—five hotel partners and 17 airline partners. Points transfer at a 1:1 ratio to most partners, with no caps on redemptions, unlike the Axis Atlas.
The complete list is below.
For hotels, Accor will likely be a favourite among cardholders. On the airline side, standout partners include Air Canada Aeroplan, Japan Airlines, Turkish Airlines, and Air France Flying Blue. I wonder what is prevent HSBC from bringing these transfer partners over to the HSBC Premier Card too.
Thoughts
It’s clear that the HSBC TravelOne Credit Card is designed to compete directly with the Axis Atlas. While the Atlas still offers a stronger earning rate, the TravelOne’s accelerated earnings on OTAs, uncapped points transfers, and extensive partner network make it an appealing choice.
For high spenders who max out their Axis Atlas transfer limits, this card can serve as an excellent backup. Additionally, for those who prefer a more reliable, consistent experience than what Axis Bank often provides, the HSBC TravelOne is a solid alternative.
For now, I’ll hold off on adding this card to my wallet. I hope HSBC extends the same robust partner network to its Premier Card as well.
Hi Jay, under exclusions I don't see Rental transactions mentioned, and I didn't see it on their MITC/the website either. Does it come under "Real Estate Agents", or is Rental payments currently not excluded in earning points?