HSBC TravelOne Credit Card Review: Features, Benefits, and Drawbacks
HSBC Bank has entered the competitive credit card market later than HDFC, Axis, and American Express. However, with its latest launch, the HSBC India TravelOne Credit Card, the bank is making a strong push into the travel credit card segment. This detailed review covers its features, benefits, drawbacks, and whether it is a worthwhile option for frequent travelers.
Eligibility Criteria for HSBC TravelOne Credit Card
To be eligible for the HSBC TravelOne Credit Card, applicants must meet the following criteria:
- Age: Between 18 and 65 years
- Income Requirement: Minimum annual income of ₹4,00,000 (salaried individuals)
- Eligible Cities: Chennai, Gurgaon, Delhi NCR, Pune, Noida, Hyderabad, Mumbai, Bangalore, Kochi, Coimbatore, Jaipur, Chandigarh, Ahmedabad, or Kolkata
- Approval Considerations: HSBC has a strict underwriting policy, making approval more challenging, especially for self-employed individuals. However, those meeting the income and residency requirements should still consider applying.
Annual Fees and Welcome Benefits
Annual Charges
- Joining Fee: ₹4,999 + 18% GST
- Annual Fee: ₹4,999 (waived if annual spending exceeds ₹8,00,000)
- Foreign Currency Markup: 3.5% + GST (4.13%), resulting in a net negative return of -0.13% despite the high reward rate on international spends
Welcome Benefits
- Spend ₹10,000 within 30 days to receive:
- ₹1,000 cashback
- ₹3,000 Postcard Hotel voucher
- 3-month EazyDiner Prime membership
- Spend ₹1,00,000 within 90 days to earn:
- 3,000 bonus reward points
HSBC TravelOne Credit Card Rewards Program
Reward Structure
- Accelerated Rewards: 4 Reward Points per ₹100 spent on flights, travel aggregators, and foreign currency transactions (Monthly Cap: 50,000 Reward Points)
- Regular Rewards: 2 Reward Points per ₹100 spent on all other categories with no cap
- Exclusions: No rewards on government transactions, e-wallet loads, fuel, insurance, real estate, jewelry, utilities, and money transfers.
Additional Benefits of HSBC TravelOne Credit Card
- Travel Discounts: Up to 15% off on Yatra, EaseMyTrip, Paytm, ClearTrip, StayVista, and AdaniOne Duty-Free purchases.
- Luxury & Lifestyle Benefits: Complimentary golf rounds, purchase protection, lounge access, and dining discounts.
- Reward Redemptions: Instant redemptions on hotel and airline loyalty programs like Marriott Bonvoy, Emirates Skywards, and more.
Milestone Benefits
Spend ₹12,00,000 annually to earn 10,000 bonus reward points. No transaction exclusions for milestone benefits.
Pros and Cons of HSBC TravelOne Credit Card
Pros
- Attractive welcome benefits with hotel and dining perks
- Competitive travel discounts across multiple booking platforms
- Instant redemption options with multiple hotel and airline partners
- Complimentary airport lounge access for domestic and international travel
- No exclusions for milestone rewards, making it easier to earn bonus points
Cons
- Limited acceptability in India compared to Axis, HDFC, and American Express
- High forex markup (4.13%), making it less rewarding for international transactions
- Reward cap of 50,000 points/month, restricting high spenders
- Stringent approval process, particularly for self-employed individuals
Final Verdict: Is HSBC TravelOne Credit Card Worth It?
The HSBC TravelOne Credit Card is a solid travel credit card, especially for those who prioritize instant redemptions and a wide range of airline and hotel transfer options. However, it faces tough competition from alternatives like Axis Atlas and HDFC Infinia, which offer better forex rates and domestic usability.
If you are a frequent traveler looking for flexible redemptions and international spending perks, this card could be a strong contender. However, for those seeking lower forex fees and higher reward earnings on everyday expenses, other premium travel cards might be a better fit.
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