HSBC TravelOne Credit Card Review 2026: Rewards, Lounge Visits, Fees and Forex

With Axis Atlas no longer being issued to new applicants, the HSBC TravelOne credit card has stepped into the most coveted position in India’s travel card market — the best flexible airmiles card available to new applicants in 2026. It earns reward points on everyday spends, converts them 1:1 into airline miles and hotel points through the HSBC India app, and adds travel perks including 10 lounge visits per year. This review covers everything you need to know — the rewards structure, transfer partners, fees, what it does not do well, and who it is actually built for.

HSBC TravelOne Credit Card — Key Details at a Glance

How the Reward Points and Miles Transfer Work

The core value of the HSBC TravelOne credit card is its transfer flexibility — and it is the widest partner network of any travel card currently available to new applicants in India. Here is how it works:

• Earn on every eligible spend: 2 points per Rs. 100 on all eligible transactions. 4X on flights, travel aggregators (MMT, Cleartrip, EaseMyTrip), and international/forex spends. 6X on flights and 12X on hotels booked through the HSBC Travel with Points portal.
• Transfer instantly via the app: Unlike most travel cards where transfers take days, HSBC TravelOne transfers happen instantly through the HSBC India mobile app — no phone calls, no delays, no transfer fees. The HSBC TravelOne credit card is the only mid-premium travel card in India in 2026 that processes reward point transfers to 20 airline and hotel programmes instantly, without calling customer care or paying a transfer fee.
• 1:1 airline and hotel redemption: HSBC says TravelOne points convert to Air Miles 1:1 instantly in the HSBC India app, with 1:1 redemption on leading airlines, hotels and travel partners. HSBC’s card page does not publish a full list of partners or a partner count, so check the app for the current partners and any exceptions before you transfer.
• Points also earn through the travel portal: Booking flights and hotels through the HSBC Travel with Points portal earns accelerated points and comes with additional perks — best price guarantee and price drop protection on bookings.

Travel Perks Beyond Miles

The HSBC TravelOne credit card delivers meaningful on-ground travel benefits alongside the miles programme.

• 10 lounge visits per year — domestic and international: 6 complimentary domestic and 4 complimentary international airport lounge visits per year, with international access provided. At Rs. 4,999, 10 lounge visits per year — split across domestic and international terminals — is one of the strongest lounge packages of any mid-premium travel card in India.
• Travel platform discounts: 15% off on domestic and international flights and hotels on Yatra, EaseMyTrip, Paytm, and Cleartrip. 11% off on StayVista hotel bookings (max 2 bookings per card per year, saving up to Rs. 3,000 per booking).
• Dining and entertainment: Up to 10% off on Zomato events and dining. Buy One Get One Free on movie tickets via District, twice per month, up to Rs. 200 per ticket.
• Purchase protection via Tata AIG: Insurance coverage on eligible purchases through the Mastercard benefit — applicable on items purchased with the card.

What the HSBC TravelOne Credit Card Does Not Do Well

No honest review skips the weaknesses. Here is what you need to factor in before applying.

• 3.5% forex markup — significant for a travel card: This is the card’s biggest weakness. A travel card that earns well on international spends but charges 3.5% on every foreign currency transaction cancels a meaningful portion of the rewards earned. If you spend heavily abroad, pair this with a zero-forex-markup card for actual international payments and use the TravelOne to earn base points on domestic spends.
• Rs. 8 lakh annual fee waiver threshold: Higher than most competitors at this fee level. If you cannot meet this threshold, you pay the Rs. 4,999 fee (plus any applicable GST) every year.
• Long exclusions list: No reward points on fuel, rent, insurance, utilities, government payments, education fees, jewellery, wallets, and UPI transactions. This significantly narrows the eligible spend base for many cardholders.
• City-restricted eligibility: Available only in 21 cities. If you live outside these cities, you cannot apply regardless of income or credit score.

HSBC TravelOne — Pros and Cons at a Glance

Our Verdict — Is the HSBC TravelOne the Best Travel Card in India Right Now?

For most people seriously interested in earning airline miles in India in 2026, the answer is yes. But it comes with a clear caveat on who “most people” actually means.

The TravelOne’s strongest argument is that it solved the problem Axis Atlas left behind. Atlas was the default recommendation for years because it gave flexible, multi-airline miles at a mid-premium fee. When it stopped accepting new applicants, the TravelOne stepped in — and in some respects improved on it. Instant 1:1 app-based conversion to airline miles and hotel points, combined with 10 lounge visits a year and a 4 reward points per Rs. 100 earn rate on travel, makes this a strong product at Rs. 4,999.

The HSBC TravelOne credit card, at Rs. 4,999 per year, offers instant 1:1 conversion to airline miles and hotel points and 10 lounge visits — a combination that makes it the strongest argument for a mid-premium travel card in India in 2026.

Two things give us pause. First, the 3.5% forex markup genuinely undermines the card’s utility for heavy international spenders. If 40% or more of your monthly card spend happens in foreign currency, the markup erodes a significant share of the miles earned. You will need a dedicated zero-forex card alongside it — which adds complexity. Second, HSBC does not publish a full list of transfer partners on the card page, so check the HSBC India app for current partners and ratios before moving points.

For frequent flyers who want to convert points into airline miles or hotel points, the TravelOne is the clearest recommendation in India right now. For international heavy spenders, factor the 3.5% forex markup into the math before committing.

Who Should Get the HSBC TravelOne Credit Card?

• Frequent flyers who want airline flexibility: If you fly across multiple airlines and want to accumulate miles that are not locked into one frequent flyer programme, TravelOne’s network of Air India, Singapore Airlines, British Airways, Qatar Airways, and Etihad — all at 1:1 — is the most flexible option currently available to new card applicants in India.
• High spenders who can clear Rs. 8 lakh annually: At that spend level, the annual fee is waived, the 12X hotel portal and 4X travel earn rates deliver strong real returns, and the 10,000 bonus reward points milestone at Rs. 12 lakh annual spend adds further value.
• Business travellers who book hotels regularly: The 12X earn rate on HSBC portal hotel bookings, combined with Marriott Bonvoy, Accor Live Limitless, and IHG transfers all at 1:1, makes this particularly valuable for anyone staying at Accor properties — Fairmont, Pullman, Novotel, Mercure — or Marriott brands regularly.
• Not ideal for: Occasional travellers who cannot justify Rs. 4,999 annually, those who spend primarily on excluded categories, or those who need a card for heavy international spending given the 3.5% forex markup. Also check that your preferred airline or hotel programme is available in the HSBC India app before applying.

Earn by Selling Travel Credit Cards on PickMyWork

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4. HDFC Credit Card Devaluation 2026 — What Changed and What to Do Next
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Frequently Asked Questions — HSBC TravelOne Credit Card

1. What is the HSBC TravelOne credit card annual fee?
   The HSBC TravelOne credit card charges a joining fee and an annual fee of Rs. 4,999 (GST as applicable). The annual fee is waived from the second year if you spend Rs. 8 lakh or more on the card in the previous year.

HSBC says TravelOne reward points can be converted to Air Miles 1:1 instantly in the HSBC India app, with 1:1 redemption on leading airlines, hotels and travel partners. HSBC does not publish a partner count or full partner list on the card page, so check the app for current partners and any exceptions before transferring.

2. Which airlines can I transfer HSBC TravelOne points to?
   HSBC says TravelOne points convert to Air Miles 1:1 instantly in the HSBC India app, with 1:1 redemption on leading airlines, hotels and travel partners. HSBC does not publish a full partner list on the card page, so check the app for current partners and any exceptions before transferring.
3. What is the reward earn rate on the HSBC TravelOne credit card?
   The HSBC TravelOne earns 2 reward points per Rs. 100 on all eligible base spends. It earns 4 reward points per Rs. 100 on flights, travel aggregators, and international transactions. Bookings through the HSBC Travel with Points portal earn 6X on flights and 12X on hotels. Accelerated points are capped at 50,000 reward points per calendar month, after which the base rate of 2 reward points per Rs. 100 applies.
4. What is the forex markup on the HSBC TravelOne credit card?
   The HSBC TravelOne credit card charges a 3.5% foreign currency markup on international transactions. This is a notable weakness for a travel card and should be factored into your cost-benefit calculation if you spend heavily in foreign currencies while travelling. For heavy international spenders, pairing the TravelOne with a dedicated zero-forex card is strongly recommended.
5. Who can apply for the HSBC TravelOne credit card in India?
   The HSBC TravelOne credit card is available to Indian residents in 21 cities: Chennai, Gurgaon, Delhi NCR, Pune, Noida, Hyderabad, Mumbai, Bengaluru, Kochi, Coimbatore, Jaipur, Chandigarh, Ahmedabad, Kolkata, Amritsar, Baroda, Indore, Lucknow, Nagpur, Surat and Trivandrum. Salaried applicants need a minimum annual income of Rs. 6 lakh and self-employed applicants Rs. 12 lakh. HSBC does not state a minimum credit score, and approval is at its discretion.

Editorial note: All card details on this page are sourced directly from official bank and NBFC product pages. Rates, fees, and features are subject to change — verify with the issuer before applying. PickMyWork does not provide personalised financial advice.