HSBC TravelOne Credit Card Review: Your Gateway to Travel Rewards and Perks

Why do we travel?

For some, it’s to escape the humdrum, 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? Check.

Travel perks from the largest range of airlines and hotels? Check.

How about lounge access and travel insurance? Also check.

So, if you’re ready to set your out-of-office note and jet off soon, take a look at our review to find out why this card should be your new travel buddy!

The HSBC TravelOne Credit Card has a number of benefits, including:

• Local Earn Rates: 1.2 miles per dollar (3X Rewards points) on local currency spending.

• International Earn Rates: 2.4 miles per dollar (6X Rewards points) on foreign currency spending.

• Fast Points Transfers: Points transfers will be completed within 1 business day.

• Shareable Perks: Perks can be shared with a supplementary card.

• Airport Lounge Access: Four complimentary airport lounge visits a year.

• Travel Insurance: Up to US$100,000 complimentary travel insurance.

• Earn Miles on Everything: Accumulate miles on all your spending, from everyday purchases like dining and groceries to travel bookings and more. Plus, boost your miles balance faster with an accelerated earn rate on foreign currency transactions.

• Redeem For Travel Rewards: Enjoy the flexibility to redeem your miles for flights, hotel stays, upgrades and exclusive travel perks. A wide range of airline and hotel partners are available, including Singapore Airlines, Etihad Airways and Marriott Bonvoy.

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

From generous welcome bonuses, 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 Credit Card is the best miles card for you, and whether it 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. This helps to maximise 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. You may 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.

There’s something very appealing about being in the miles game, which makes no number of cards seem too great for miles chasers.

From a quick look at the benefits of the HSBC TravelOne Credit Card, it’s clear from the 2.4 miles per dollar (mpd) on foreign currency spending that this card is practically urging you to book the next available flight out. Whether it’s an affordable getaway from Singapore or a luxury trip around the world, the answer is simple: You should do it.

Another highlight is the vast number of travel partners (21 and counting) available, giving travel lovers the opportunity to enjoy perks from a broad range of frequent flier and hotel loyalty programmes.

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

Another plus point is the rewards redemption programme over the HSBC Singapore app. It gives you near-instant access to miles and hotel points across a wide range of airline and hotel partners like Etihad Airways, Singapore Airlines, IHG, Marriott Bonvoy and more. Click here for more details regarding redeeming your HSBC TravelOne Rewards points.

However, do note that you will need a minimum of 25,000 Reward Points to redeem 10,000 air miles or hotel points on your HSBC TravelOne card. 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:

• Japan Airlines — Jal Mileage Bank

• Club Vistara

• Aeroplan

• Fortune Wings Club

• Qatar Airways — Privilege Club

• Turkish Airlines — Miles & Smiles

• United Airlines — Mileage Plus

• Thai Airways — Royal Orchid Plus

• Air France — Flying Blue

• A Rewards

• British Airways — Executive Club

• Asia Miles

• Etihad Airways — Etihad Guest

• Eva Air — Infinity Mileagelands

• Qantas Airways — Frequent Flyer

• Krisflyer

• Vietnam Airlines — Lotus Smiles

Hotel partners-wise, this is the list so far:

• Wyndham Rewards

• Accor Live Limitless Lifestyle*

• IHG One Rewards

• Marriott Bonvoy

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

If travel insurance is usually an afterthought for you, or you frequently find yourself searching for last-minute travel insurance promotions, you won’t need to think twice with the HSBC TravelOne card.

The HSBC TravelOne card 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 also the ID Theft Protection™. This gives you peace of mind when surfing and purchasing online, by providing proactive monitoring and alerts to ensure your personal data is safe from identity theft or fraud. Simply enrol online for complimentary access.

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

However, 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.

HSBC TravelOne cardholders earn 1.2 miles per dollar on local currency spending and 2.4 miles per dollar on foreign currency spending. These miles are earned on all eligible purchases, including dining, groceries and travel bookings, making it a versatile card for everyday spending and travel expenses.

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.

New HSBC TravelOne cardholders can currently take advantage of the SingSaver CNY Sure Win, Sure Huat promotion, where you can win a Red Packet worth up to S$8,888! This promotion runs until 26 January 2025 and is valid for new HSBC credit cardmembers only. 

Alternatively, you can choose from a range of exciting gifts, including a Dyson Supersonic, Apple iPad 10th Gen, S$370 Trip.com voucher or S$198 Cash + S$150 eCapitaVoucher, when you apply for the HSBC TravelOne Credit Card, pay the annual fee and meet the minimum spend requirement. 

This offer is also valid until 26 January 2025 and is exclusive to new HSBC cardmembers. Don't miss out!

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 one-for-one 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.

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 the approval-in-principle page displayed shortly after your MyInfo submission.

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).

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 Credit Card is ideal for you. Apart from the fantastic array of established hotels and airline partners, it’s 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 one business day (up to five business days for Accor Live Limitless).

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.