TravelOne

Joining ₹4,999 · Annual ₹4,999 · Annual fee (including GST) fully reversed if total eligible spend across primary + add-on cards exceeds ₹8,00,000 in the anniversary year

Fee break-even: ≈₹2,49,950/yr through this card at its base rate. Below that, the fee eats the rewards.

Earns Reward Points · assumed 1 ₹/point. Assumes the airline/hotel transfer route: 1 RP = 1 mile at 1:1 to most of HSBC's 20 partners, valued at ~₹1 per mile (CardExpert's stated baseline for this card. HSBC's own published range for its points is ₹0.25 to ₹1.00, so ₹1 is the TOP of that range and needs disciplined redemption to realise). Transfers are made in the HSBC app with no transfer fee, completing in about a day. THERE IS NO CASH-OUT ROUTE. HSBC states its reward points are not exchangeable or refundable for cash or credit, so treat any 'convert to cashback' claim as false. The weaker routes are materially worse: redeeming against travel bookings on HSBC's 'Travel with Points' portal has been measured at only ~₹0.31/RP, and vouchers/merchandise can be as low as ₹0.25/RP (plus a ₹50 handling debit on physical goods). A holder who does not transfer to a good airline programme is realistically nearer 1% base / 2% travel than the 2%/4% here. ₹0.50 per point is the defensible floor. Points expire 3 years after earning, and lapse 1 month after voluntary card closure.

Verified 10 Aug 2026

Forex markup3.5%

GolfNone

ConciergeNone

Fuel surchargeNone

EMI₹99 plus GST per transaction at a merchant, 2.5% of the balance with a ₹250 minimum otherwise processing fee · A converted purchase stops earning rewards · A flat ₹99 plus GST per conversion at a shop, the cheapest published fee of the lot. Converting a bill afterwards costs 2.5% with a ₹250 floor instead. Minimum transaction is above ₹2,000, and gold and card fees cannot be converted at all. · Instant EMI (IEMI) transactions are loan facilities and earn no reward points. Points are not reinstated if an EMI is cancelled

Domestic lounge6 a year. 6 complimentary domestic visits a year via the Mastercard domestic lounge programme. No spend gate, no guest access.

International lounge4 a year. 4 complimentary international visits a year via LoungeKey. NOT Priority Pass. Cardholder only, no complimentary guest visits, no spend gate. The Priority Pass association online comes from confusing Premier's LoungeKey with it, and from HSBC's Singapore TravelOne which uses Mastercard Travel Pass/DragonPass.

Milestones

◆ Spend ₹12,00,000 per year → 10,000 bonus reward points Worth ₹10,000

Return by category

Category	Return	Notes
Online spend	2%	Base rate
Amazon	2%	Base rate
Flipkart	2%	Base rate
Subscriptions & OTT	2%	Base rate
Offline spend	2%	Base rate
UPI spending	0%	No RuPay variant. TravelOne is issued only on Mastercard (World), so it cannot be linked to a UPI app at all. HSBC India's UPI page lists only the RuPay Platinum and RuPay Cashback cards as UPI-linkable.
Dining	2%	Base rate
Swiggy	2%	Base rate
Zomato	2%	Base rate
Groceries	2%	Base rate
Quick commerce	2%	Base rate
Swiggy Instamart	2%	Base rate
Blinkit	2%	Base rate
BigBasket	2%	Base rate
Movies & shows	2%	Base rate
BookMyShow	2%	Base rate
PVR INOX	2%	Base rate
Fuel	0%	Zero reward points. MCC 5172, 5541, 5542, 5552, 5983
Travel (general)	4%	Accelerated (2X) points capped at 50,000 RP per calendar month. Spend beyond that reverts to 2 RP/₹100 · 4 RP/₹100 applies ONLY to airline MCCs (the 3000-3300 airline block plus 4511) and 'travel aggregators' MCC 4111, 4131, 4722, 4723. Accelerated points post within 60 days of month end, not immediately. HSBC's own T&C is internally inconsistent. One clause in the same service guide states the cap as 15,000 RP rather than 50,000. 50,000 appears three times and on the product page, so 50,000 is taken as correct. Oddity worth knowing: 4111 and 4131 are local/suburban commuter transport and bus lines, so metro and bus tickets earn 4X while hotels do not.
Flights	4%	Shares the 50,000 RP/month accelerated cap · Airline MCCs 3000-3300 and 4511. The clearest qualifier for the 4 RP tier
Hotels	2%	IMPORTANT. Hotels are NOT accelerated. HSBC's service guide lists only airline and travel-aggregator MCCs for the 2X bonus. Hotel MCCs (3500-3999, 7011) are absent, so direct hotel spend earns the plain 2 RP/₹100. Reviews describing this as '4X on travel' overstate it. The only way to get more on hotels is booking through HSBC's 'Travel with Points' portal (up to 6X for TravelOne), which is a separate portal, not organic spend.
MakeMyTrip	4%	Uses its travel rate
IRCTC rail	4%	Uses its travel rate
International	0.5%	4% reward − 3.5% forex markup
Utilities & bills	0%	Zero reward points. MCC 4900. A hard exclusion on TravelOne, unlike Premier where utilities still earn within a ₹1 lakh/month cap and Live+ where they earn 10%.
Rent	0%	Zero reward points. Real estate agents and managers, MCC 6513. Plus a 1% rental processing fee
Education fees	0%	Zero reward points. MCC 8211, 8220, 8241, 8244, 8249
Insurance premiums	0%	Zero reward points. MCC 5960, 6300. Again a hard exclusion here, only capped on Premier.
Government & tax	0%	Zero reward points. MCC 8299, 9211, 9222, 9399, 9402, 9405, tax payments 9311 and bail/bond payments 9223
Wallet loads	0%	Zero reward points on e-wallet loads (MCC 6540) and non-financial institutions / quasi-cash (6051)
Anything else	2%	Base rate
Jewellery	0%	Zero reward points. MCC 5094, 5944

Rates are the card's own published rates, before any spend profile. Add this card inMy cards to rank it against the rest of your wallet.

Also worth knowing

Welcome (current terms, for cards applied from 1 July 2026): ₹1,000 cashback + ₹3,000 PostCard voucher + 3 months EazyDiner Prime, on ₹25,000 spend within 30 days plus a mobile-app login. The exact 1 July 2026 date is medium confidence (TechnoFino thread plus CardExpert comments), but the ₹25,000 figure is corroborated by HSBC's own product page.
Welcome: ₹250 Amazon e-gift voucher on completing video KYC
'Travel with Points' portal (live, powered by Hopper): up to 6X RP on hotels and 4X on flights, monthly caps of ₹75,000 hotels / ₹1,12,500 flights for TravelOne.
20 transfer partners as of Aug 2026, taken from HSBC's own rewards page. 1 RP = 1 mile: Air India Maharaja Club, Flying Blue, British Airways Executive Club, Etihad Guest, EVA Air Infinity MileageLands, JAL Mileage Bank, Singapore Airlines KrisFlyer, Qantas Frequent Flyer, Qatar Privilege Club, Thai Royal Orchid Plus, Vietnam Airlines Lotusmiles. 2 RP = 1 mile: Hainan Fortune Wings Club, Turkish Miles&Smiles, United MileagePlus. 1 RP = 3 miles: airasia rewards (a ratio artefact of a weak currency, not free value). Hotels at 1:1: Accor ALL, IHG One Rewards, Marriott Bonvoy, Wyndham Rewards. Shangri-La Circle at 5:1.
TravelOne does NOT get the Apple 1:1 redemption. HSBC's own news release restricts that to Premier and Privé. Several reviews imply otherwise.
1 April 2025 brought TravelOne its 13-category hard exclusion list as part of HSBC's portfolio-wide rewards overhaul.
1% processing fee plus GST on all rental and related payments (bank-wide)
Add-on cards free. Add-on spend counts toward the fee-waiver threshold. Interest-free period up to 45 days. Finance charge 3.75% per month (45% p.a.). Contactless (Mastercard Tap and Go) capped at ₹5,000 per transaction without PIN.
Personal travel insurance underwritten by ICICI Lombard. Open to new applications as of Aug 2026.
BEWARE non-India material: much of the 'HSBC TravelOne' content online is the Singapore, Malaysia or Vietnam card, which has entirely different earn rates, lounge counts and a 33,600-mile welcome bonus. None of it applies to India.

Other exclusions

Instant EMI (IEMI) transactions are loan facilities and earn no reward points. Points are not reinstated if an EMI is cancelled
Cash advances, financial institutions (6010, 6011, 6012) and money transfers (4829) earn nothing. Cash advance fee 2.5%, min ₹500, plus interest from the transaction date

Sources

Every figure above comes from the issuer's own pages and documents. Last verified 10 Aug 2026.