HSBC TravelOne
MidHSBC India
Where it ranks · across all 71 cards
What a point is worth
Earning 2 pts / ₹100, the same point pays very differently by redemption path:
| Redemption path | Per point | Effective on spends |
|---|---|---|
| Partner transfersbest: Accor ALL (Live Limitless) at 1:1 (ceiling 3.6%) | ₹1.60-₹1.80 | 3.20% |
| Bank travel portal | ₹0.5 | 1.00% |
| Vouchers / catalogue | ₹0.25 | 0.50% |
In-app travel redemptions ~₹0.5/pt; catalogue ₹0.25. Transfers 1:1 are the real value. Rankings across KaunsaCard use a single conservative value (₹1/pt = 2.00%); transfer ceilings assume premium-cabin awards and are never used to rank.
Reward rules
Points valued at ₹1/pt - conservative, what rankings use · transfers reach up to ₹1.80/pt via Accor ALL (Live Limitless) at 1:1
Base rate - everything not covered below
2 pts / ₹100= 2 pts per ₹100
2.0-3.6%
value range by redemption
4 pts / ₹100 on airlines, travel aggregators & foreign currency
4 pts / ₹100= 4 pts per ₹100
4.0-7.2%
value range by redemption
Accelerated = airline MCCs + travel aggregators (4722/4723) + non-DCC foreign currency; direct hotel MCCs are NOT accelerated. Bonus capped 50,000 pts/calendar month (one bank doc also prints 15,000 in the same clause - contradiction flagged). Aggregator MCCs 4111/4131 mean metro/bus spends also earn 4X per the Service Guide list.
Source: HSBC TravelOne Service Guide (bank PDF) · 2026-08-22
Milestones
₹12,00,000 / year
10,000 bonus points
worth ≈ ₹2,500
Transfer partners
HSBC points (TravelOne / Premier) - what 10,000 points become. Full matrix with live amounts on the Transfers page.
| Partner | Ratio | 10,000 pts → | ≈ value |
|---|---|---|---|
| Accor ALL (Live Limitless) | 1:1 | 10,000 | ₹16,000-₹18,000 |
| Singapore Airlines KrisFlyer | 1:1 | 10,000 | ₹8,000-₹25,000 |
| airasia rewards | 1:3 | 30,000 | ₹7,500-₹12,000 |
| Air France-KLM Flying Blue | 1:1 | 10,000 | ₹7,000-₹20,000 |
| British Airways Executive Club (Avios) | 1:1 | 10,000 | ₹7,000-₹18,000 |
| Japan Airlines Mileage Bank | 1:1 | 10,000 | ₹7,000-₹20,000 |
| Qatar Airways Privilege Club (Avios) | 1:1 | 10,000 | ₹7,000-₹18,000 |
| Air India Maharaja Club | 1:1 | 10,000 | ₹6,000-₹18,000 |
Transfers in-app, most process within 1 business day. No published annual caps. HSBC Premier card page confirms the same 1:1 in-app conversion; menu shared with TravelOne.
Earns nothing on
- ⊘ Fuel: no reward points.51725541554255525983bank MCC list→ use MakeMyTrip ICICI here (1.0%)
- ⊘ Utilities: no reward points on TravelOne.4900bank MCC list→ use Airtel Axis Bank here (10.0%)
- ⊘ Real estate agents and managers: no reward points.6513bank MCC list→ use Axis Burgundy Private here (4.5%)
- ⊘ E-wallet loads: no reward points.6540bank MCC list→ use SC Ultimate here (3.3%)
- ⊘ Insurance: no reward points.59606300bank MCC list→ use Axis Burgundy Private here (4.5%)
- ⊘ Jewellery: no reward points.50945944bank MCC list→ use HDFC Infinia Metal here (3.3%)
- ⊘ Education: no reward points.821182208241824482498299bank MCC list→ use Axis Magnus for Burgundy here (10.5%)
- ⊘ Government and tax payments: no reward points.9211922292239311939994029405bank MCC list→ use PVR INOX Kotak here (3.0%)
- ⊘ EMI and cash advances earn no points (transaction-type based, no MCC).
Plays with this card
- 🏨 The HSBC → Accor 1:1 pipe - the post-Axis transfer king
After Axis cut Accor overnight (Apr 2026), HSBC is the only 1:1 Accor route left in India. TravelOne earns 4 pts/₹100 on airlines/aggregators/forex; converted to Accor ALL, spend returns 6-7% against hotel stays.
₹1,00,000 of accelerated spend → 4,000 pts → 4,000 Accor ≈ ₹6,400-7,200 off a stay at conservative ₹1.6-1.8/pt = 6.4-7.2% (base-rate spends: half that).
- 🇮🇳 Maharaja Club 12,000-point international one-ways
The Apr 2026 Maharaja award chart cut international economy 30-59%: Singapore, Bangkok, Dubai and Bali from Delhi are flat 12,000 points one-way - cash fares of ₹16-25k, so ₹1.3-1.8 per point. HSBC feeds it 1:1; Axis premium 5:4; HDFC 2:1.
12,000 Maharaja pts vs a ₹20,000 DEL-SIN fare = ₹1.67/pt. Via HSBC 1:1 that turns 4 pts/₹100 travel spend into ~6.7% back; even HDFC at 2:1 nets ~2.8% on base spend.
- 🧾 Fee-waiver engineering - map big annual payments to the right bank
Every bank excludes different categories from fee-waiver spend math. The play: aim your one or two unavoidable ₹1L+ annual payments (insurance premium, school fees) at the bank where they still COUNT - usually HDFC.
A ₹3L annual premium routed to Infinia: 10,000 pts (≈₹10,000) AND ₹3L toward the ₹8L waiver - the same premium on Magnus earns zero and rescues nothing.
- ⏰ Transfer-bonus windows - hold stable currencies, strike in bonuses
Banks and programs run periodic transfer bonuses: Maharaja Points Fest paid up to 50% extra on bank conversions in May 2026, HSBC→Accor ran 50% in Dec 2025, Club ITC runs ~annual 10% windows on Axis. Holding points at the bank until a window opens multiplies value - but only at banks with stable menus.
Points Fest May 2026: 1,00,000 HDFC RP at 2:1 became 75,000 Maharaja pts instead of 50,000 - a free 50% on the transfer leg.