HSBC TravelOne Credit Card Review: Travel and Earn Rewards All on One App

Why do we travel?

For some, it’s to escape the humdrum and hustle and bustle of routine, waiting to explore uncharted waters. For others, it’s an essential break to reset and recharge our weary selves from the daily grind.

Why do we need a travel card?

If you're looking at the HSBC TravelOne credit card, the list can be endless.

Good miles earn rate? Checked. Travel perks from the largest range of airlines and hotels? Checked. How about lounge access and travel insurance? Also checked.

All ready to set your out-of-office note and jet off soon? Find out why this card can be your new travel buddy!

HSBC TravelOne card product summary:

• 2.4 miles per dollar (6x Rewards points) on foreign currency spending

• 1.2 miles per dollar (3x Rewards points) on local currency spending

• Points transfers will be completed within 1 business day

• Perks can be shared with a supplementary card

• Enjoy an abundance of options with the ability to instantly redeem miles and hotel points through a diverse selection of airline and hotel affiliates, including Cathay Pacific, Singapore Airlines, Marriott Bonvoy, and others.

• No conversion fee when you redeem for air miles or hotel points (till 31 May 2024)

• 4x complimentary airport lounge visits a year

• Up to US$100,000 complimentary travel insurance

• Annual income requirement: S$30,000 (Singaporeans/PRs), S$40,000 (Foreigners)

• Annual fee: S$196.20 (waived from 2nd year onwards with >S$25,000 annual spend)

For those considering the HSBC TravelOne Card as their next credit card, weighing the advantages and disadvantages is crucial to making an informed decision. This card offers a range of benefits tailored for frequent travellers and those who appreciate rewards on their spending. 

From generous welcome bonuses to extensive miles earning potential and exclusive lifestyle perks, the HSBC TravelOne Card positions itself as a compelling option for many. 

However, like any financial product, it comes with its own set of considerations, including interest rates and spending requirements for bonus eligibility. Below is a detailed comparison of the pros and cons to help you assess whether the HSBC TravelOne Card is the best miles card for you and aligns with your financial habits and rewards preferences.

HSBC miles redemption is a straightforward and efficient process designed for HSBC TravelOne Cardholders to convert their accumulated reward points into airline miles. It has a decent earn conversion rate of 1.2 mpd (3X Reward points) for local spending and 2.4 mpd (6X Reward points) for foreign currency spending.

With this card, there's no minimum spend required to start earning miles, and there's no cap on the number of points you can accumulate. This process allows for flexibility and convenience in planning trips, whether for business or leisure, by leveraging points earned on everyday purchases towards your next flight or hotel booking, thereby maximising the value of every dollar spent.

What’s good is that the spending categories are not restricted to earning miles as it follows an eligibility blacklist approach, so you can also earn on your daily expenses. However, there are some MCC exceptions that do not qualify for miles to be earned. Refer to the full list here.

*Only in June and December

All foreign currency transactions on the HSBC TravelOne Card incur a 3.25% fee, which aligns with the market standard.

#1: It has the highest number of transfer partners 

There’s something appealing about being in the miles game that no number of cards seems too great for miles chasers.

A quick look at the HSBC TravelOne Credit Card card benefits and it’s clear from the 2.4 mpd on foreign currency spending that this card is practically urging you to book the next available flight out to the first destination that comes to your mind, whether it’s an affordable getaway from Singapore or a luxury cruise around the world. 

Another highlight is the high number of travel partners (12 and counting), effectively letting travel lovers enjoy perks from a broad range of frequent flier and hotel loyalty programmes. 

With an ambitious goal to sign 20 travel partners by the end of 2023, we can't wait to see who else will be joining this highly attractive list. 

While it is a decent card to charge your travel expenses, what’s attractive about this card is definitely not just the miles earning rate. This brings us to the next point

#2: It prefers to give instant enjoyment

Another plus point is the rewards redemption over the HSBC Singapore app, which gives you access to instant miles and hotel points redemption with a wide range of airline and hotel partners including Cathay Pacific, Singapore Airlines, IHG, Marriott Bonvoy and more.

Here are more details on redeeming your HSBC TravelOne Rewards points.

Do note that to start redeeming air miles or hotel points on your HSBC TravelOne Credit Card, you will need a minimum of 25,000 Reward Points to redeem 10,000 air miles or hotel points. Thereafter, the redemption will be based on blocks of 5 Reward points to 2 air miles or hotel points.

Below is the list of eligible Frequent Flyer Programmes following the above rate:

• Singapore Airlines – KrisFlyer

• Cathay Pacific – Asia Miles

• EVA Air – Infinity MileageLands

• British Airways – Executive Club

• Air Frane-KLM – Flying Blue

• Qantas – Frequent Flyer

• Vietnam Airlines – Lotusmiles

• Etihad – Guest

• AirAsia – rewards

Hotel partners wise, this is the list so far:

• Accor Live Limitless Lifestyle*

• IHG One Rewards

• Marriott Bonvoy

*Only partner with a lower conversion rate of 25,000 Rewards Points : 5,000 Rewards Programme Points

#3: It comes with peace of mind 

If travel insurance is usually an afterthought for you, you won’t need to think twice with the HSBC TravelOne card or search for travel insurance promotions. 

If you’re looking for a credit card that comes with travel insurance, the HSBC TravelOne card is the right card for you. It comes with complimentary travel insurance with up to USD100,000 of coverage when you charge the full cost of your air ticket to your HSBC TravelOne Credit Card.

For added security, there's the ID Theft Protection™ which gives you peace of mind when surfing and purchasing online.

Proactive monitoring and alerts help to ensure your personal data is safe from identity theft or fraud. Simply enrol online for complimentary access.

#4: It’s eligible for the HSBC Everyday+ Rewards Programme

For HSBC TravelOne cardmembers who have an HSBC Everyday Global banking account, the HSBC Everyday+ Rewards Programme lets you earn up to 1% cashback on card spend and GIRO bill payments, and 1% bonus interest on your savings account upon fulfilling the criteria.

What’s more, if you make 5 qualifying transactions on your HSBC credit card, you’ll be eligible for the Sure-Win monthly promotion and stand to win some awesome prizes including a hotel stay and dining vouchers.

This is provided you deposit an aggregate of at least S$2,000 (or S$5,000 for Premier banking) into an eligible HSBC Everyday Global Account in a given calendar month via salary crediting and/or inward transfers from a non-HSBC bank account too.

Can you enjoy an annual fee waiver for the HSBC TravelOne Credit Card?

Yes, cardholders of the HSBC TravelOne Credit Card can enjoy an annual fee waiver, offering a valuable benefit for those who meet certain criteria. To qualify for the annual fee waiver, cardholders must achieve a minimum annual spend of S$25,000. This spending threshold allows cardholders to enjoy the extensive benefits of the HSBC TravelOne Credit Card without the added cost of an annual fee from the second year onwards. This feature is particularly appealing to frequent spenders and travellers who can easily meet the spending requirement, making the card more cost-effective and rewarding in the long run.

The HSBC TravelOne Credit Card is designed for a broad spectrum of users, particularly appealing to those with a penchant for travel and an appreciation for instant rewards. Ideal candidates for this card include:

• Frequent Travellers: Individuals who travel often, whether for business or leisure, will find the HSBC TravelOne Credit Card especially beneficial. The card's competitive miles earn rate on both local and overseas spending ensures that every dollar spent brings them closer to their next trip.

• Rewards Optimisers: Users who prioritise the flexibility and immediacy of rewards redemption will appreciate the card's straightforward points-to-miles conversion process. With the HSBC TravelOne Credit Card, cardholders can redeem their miles instantly for flights and hotel stays, making it a great option for those who like to plan impromptu trips or take advantage of last-minute travel deals.

• Lifestyle Enthusiasts: Individuals who enjoy lifestyle perks such as dining, shopping, and entertainment benefits will find the card's additional features, including complimentary airport lounge access and exclusive 1-for-1 deals through the HSBC ENTERTAINER app, particularly attractive.

• Insurance Seekers: The inclusion of complimentary travel insurance provides peace of mind for cardholders, making it a solid choice for those who value safety and security while traveling.

• Annual Fee Savers: Those willing to spend a minimum amount annually to qualify for fee waivers will benefit from the HSBC TravelOne Credit Card's annual fee waiver policy, which makes it cost-effective for regular users.

Step 1: Apply via SingSaver’s credit card page

Initiate your application on the SingSaver credit card portal by selecting the HSBC TravelOne Card application option. Opting for an online application or using the HSBC mobile app and SingPass MyInfo allows HSBC to automatically retrieve your verified identity and income information from SingPass. This significantly speeds up the process, with approval-in-principle page displayed shortly after your MyInfo submission.

Step 2: Provide all documentation required

Submit the required documents for your application to be considered by HSBC. These documents include your NRIC or other identification proof, your most recent payslip, the past year's CPF Contribution History Statement, and your latest Income Tax Notice of Assessment (NOA).

Step 3: Receive your HSBC TravelOne Credit Card

Upon approval, you can promptly activate your HSBC TravelOne Card via the HSBC mobile app. Activation involves entering a One-Time Password (OTP) after your 6-digit Online Banking PIN, ensuring the security of your credit card transactions. Your card is then ready for immediate use, allowing you to make purchases and track your air miles and other rewards through the HSBC mobile app.

If you’re just getting into the miles game and can’t wait to book your next getaway and enjoy some great perks, the HSBC TravelOne is ideal for you. Apart from the fantastic array of established hotels and airline partners, it is also a great card to help you earn miles quickly through daily spending.

We especially like the part where air miles and hotel points redemptions will be completed instantly or within 1 business day (up to 5 business days for Accor Live Limitless). Instant gratification is indeed a great feeling.

There’s also the 20,000 miles signup offer (or the equivalent to a round trip to Bali!) for both new and current HSBC cardmembers. All you need to do upon card approval is to hit the minimum monthly spend of S$800.