HSBC India is expanding its footprint by launching new credit cards, refreshing existing products and opening branches across the country. As part of this push, the bank has introduced the HSBC TravelOne Credit Card, a travel-centric card targeted at frequent flyers and hotel guests.
The TravelOne card lets cardholders transfer reward points to a range of airline and hotel loyalty programs, often instantly. Below is a concise, reader-friendly guide to the key features, fees, rewards and benefits of this new travel card.
Table of Contents
- Overview
- Fees
- Design
- Rewards
- Milestone Benefit
- Redemption
- Lounge Access
- Forex Markup Fee
- Features & Benefits
- Should you get it?
- Bottomline
Overview
| Type | Travel Credit Card |
| Reward Rate | 2% to 7.2% |
| Forex Markup Fee | 3.5%+GST |
| Best for | OTA Travel Spends |
| USP | Uncapped redemption |
This card is aimed at travellers who prioritise airline miles and hotel loyalty programs, with particular value for Accor members.
Fees
| Joining Fee | 4,999+GST |
| Welcome Benefit | 3,000 Points (after spending 1L in 90 days) |
| Renewal / Annual Fee | 4,999+GST |
| Renewal Benefit | – |
| Renewal Fee waiver | 8L INR annual spend |
The welcome benefit of 3,000 points requires eligible spending and does not directly offset the joining fee unless redeemed for partners like Accor. New customers who download the HSBC app and spend INR 10,000 within 30 days may receive additional introductory incentives:
- INR 1,000 cashback
- INR 3,000 postcard voucher
- 3 months EazyDiner Prime membership
These incentives are part of an introductory offer and may not be permanent. A limited-time cashback promotion also runs for applicants who apply by 31 December 2025 and spend INR 25,000 in the first 30 days.
*** Additional 3,999 INR cashback — Offer ends 31st Dec 2025 ***
Design
The global design appears polished; final impressions will depend on material finish and production quality in India. The Mastercard logo resembles that seen on higher-tier cards, though the product is issued on the Mastercard World platform.
Rewards
| SPEND TYPE | Reward Points | REWARD RATE (Points/Miles) | REWARD RATE (Accor) | MAX. CAP (PER MONTH) |
|---|---|---|---|---|
| Regular Spends | 2 / 100 INR | ~2% | ~3.6% | – |
| Airlines, Travel aggregators & Forex Spends | 4 / 100 INR | ~4% | ~7.2% | 50K Points (12.5L spend) |
A notable advantage is that the card awards accelerated points for spends made through travel aggregators (OTA) such as MakeMyTrip and Cleartrip, which benefits hotel and flight bookings. However, several merchant categories are excluded from earning rewards, including utilities, insurance, jewellery, certain education and government payments, tax payments, many financial transaction categories, e-wallets and fuel.
These exclusions are broader than some competing cards. A capped rewards approach on these categories would be preferable to a full exclusion to avoid penalising normal users.
NEW: HSBC has also introduced Accelerated Rewards, which further improves the TravelOne card’s earning potential on targeted spends.
Milestone Benefit
| SPEND REQUIREMENT | MILESTONE BENEFIT | Reward Rate |
|---|---|---|
| 12 Lakhs | 10,000 Points | 0.8% |
The milestone boosts the effective return, increasing base rewards from approximately 2% to 2.8% (or higher when converted to Accor points). A single milestone is useful, though multiple tiered milestones would offer more flexibility to frequent spenders.
Redemption
- Transfer points to airline and hotel partners (many at a 1:1 ratio)
- Extensive partner list across airlines and hotels
- Most transfers are instant or complete within one day
The partner roster is extensive. Among them, Accor stands out for delivering consistently strong value when points are transferred and redeemed.
Lounge Access
| ACCESS TYPE | VIA | LIMIT |
|---|---|---|
| Domestic | Mastercard | 6 / Year |
| International | LoungeKey | 4 / Year |
Lounge access is included without any minimum annual spend requirement. Guest access is not part of the standard benefit, but complimentary entries for the primary cardholder make sense at this fee level.
Forex Markup Fee
- Foreign currency markup fee: 3.5% + GST (approximately 4.13% total)
- Net return on forex spends: rewards (~4%) minus markup (~4.13%) = slightly negative
Although forex-eligible spends earn accelerated points, the higher forex markup diminishes net returns. A lower markup, closer to 2%, would better align with the card’s travel positioning.
Features & Benefits
- 15% off at Yatra, Cleartrip, EaseMyTrip & Paytm
- 10% off on Zomato
- Buy 1 Get 1 on movies (up to INR 200 off) via District App
- 20% off on duty-free via the AdaniOne app or website
- Golf benefits through the Mastercard Golf Program
- USD 20,000 annual purchase protection
Should you get it?
If you want a travel credit card with flexible points transfer to airline and hotel partners, the HSBC TravelOne Credit Card is a compelling choice. It’s especially attractive when paired with periodic transfer bonuses from partners like Accor.
*** Best Travel Credit Card ***
Bottomline
- Cardexpert Rating: 4.5/5
The HSBC TravelOne Credit Card is a strong travel-focused product, enhanced by the recent Accelerated Rewards program and a broad partner network. For travellers who value point transfers and OTA earning, it offers useful flexibility and competitive value.
What are your thoughts on the HSBC TravelOne Credit Card? Share your views in the comments.