HSBC Bank launches TravelOne Credit Card: Should travel geeks consider it?

As the travel segment grows, the competition in the travel credit card category is picking up. Some banks have rolled out travel-centric credit cards. Earlier, we had the American Express Platinum Travel Credit Card and the Axis Bank Atlas Credit Card in the travel category. Now, HSBC Bank has also joined with the TravelOne Credit Card in the travel category. In this article, we will understand the features and benefits of the HSBC TravelOne Credit Card and whether travel geeks should consider it.

Features and benefits of HSBC TravelOne Credit Card

The HSBC TravelOne Credit Card is a travel-centric credit card that unlocks instant travel rewards and offers elevated travel experiences during your trips. The card provides the following features and benefits.

1. Accelerated rewards of 4 reward points for every Rs. 100 spent on flights, travel aggregators, and foreign currency transactions. There is a cap of 50,000 reward points that can be earned in a month under the accelerated rewards. Beyond the cap, the reward rate is 2 reward points for every Rs. 100 spent.
2. 2 reward points for every Rs. 100 spent on all other categories, except for excluded categories. There is no capping on the number of reward points that can be earned.
3. A bonus of 10,000 reward points on spending Rs. 12 lakhs in a card anniversary year.
4. The card provides complimentary access to 6 domestic and 4 international airport lounges every year.

Instant discounts

The HSBC TravelOne Credit Card provides discounts on various travel-related services and saves you loads of money.

Yatra

15% discount on flights and hotels booked on the Yatra App or website. The maximum discount that can be availed of on domestic flights and hotels is Rs. 3,000. The maximum discount that can be availed of on international flights and hotels is Rs. 5,000. The offer can be availed of twice per card per year.

EaseMyTrip

15% discount on flights and hotels booked on the EaseMyTrip App or website. The maximum discount that can be availed of on domestic flights and hotels is Rs. 3,000. The maximum discount that can be availed of on international flights and hotels is Rs. 5,000. The offer can be availed of twice per card during the offer period.

Paytm

15% discount on flight bookings on the Paytm App or website. The maximum discount that can be availed of on domestic and international flights is Rs. 5,000. The offer can be availed of twice per card per year.

ClearTrip

15% discount on flight bookings on the ClearTrip App or website. The maximum discount that can be availed of on domestic flights is Rs. 3,000. The maximum discount that can be availed of on international flights is Rs. 5,000. The offer is valid once per card every six months during the offer period.

StayVista

11% discount on hotel bookings on the StayVista website. The maximum discount that can be availed on hotel bookings is Rs. 3,000. The offer can be availed twice per calendar year.

Zomato

Buy one get one (BOGO) offer on movie tickets booking on Zomato. The maximum discount on the free movie ticket is Rs. 200. The offer can be availed twice per card per calendar month. The cardholder can avail of a 10% discount up to Rs. 1,000 on dining and events booking on Zomato. The offer can be availed once per card per calendar month for each category.

AdaniOne

20% discount on duty-free shopping via the AdaniOne App or website. The minimum order value must be Rs. 8,000, and the maximum discount is Rs. 3,000. The offer can be availed of once per card per year.

Exclusions

The spends on the below categories will not earn any reward points.

1. Education-related payments
2. Tax and government-related payments
3. E-wallets loading
4. Fuel spends
5. Insurance premium payments
6. Jewellery purchases
7. Rent and real estate-related transactions
8. Utility bill payments

Please refer to the HSBC India website for the entire list of excluded categories and their Merchant Category Codes (MCCs).

Redemption of reward points

As the HSBC TravelOne Credit Card is a travel-centric credit card, HSBC Bank has partnered with various airline and hotel chains for the transfer of reward points. The cardholders can transfer their reward points to these partners and further use the partner program points for free flight and hotel bookings. The reward points can be transferred to various partners in a specified transfer ratio as follows.

The turnaround time (TAT) for the transfer of reward points to each transfer partner varies. Check the HSBC India website for the TAT for a specific transfer partner.

The cardholder has the option to redeem the reward points for gift cards of merchants across various categories, including food, entertainment, fashion, etc.

Fees and eligibility

The HSBC TravelOne Credit Card comes with a joining fee of Rs. 4,999 + Taxes. The cardholder must download and log on to the HSBC India Mobile Banking App, and spend Rs. 10,000 within the first 30 days of opening the card account. On doing that, the cardholder will get the following welcome benefits.

1. Rs. 1,000 cashback
2. The Postcard Hotel Voucher worth Rs. 3,000
3. 3 months EazyDiner Prime Membership

When a cardholder spends Rs. 1 lakh in the first 90 days of opening the card account, they get 3,000 bonus reward points.

The card has an annual fee of Rs. 4,999 + Taxes. The annual fee is waived on spending Rs. 8,00,000 in the previous year.

To be eligible for the card, the applicant must be an Indian resident in the 18 to 65 age bracket. The minimum income requirement for salaried individuals is Rs. 4 lakhs per year. The individual must reside in one of the specified cities where HSBC India is issuing credit cards.

Should you take the HSBC TravelOne Credit Card?

The HSBC TravelOne Credit Card is packed with several features and benefits related to travel. It offers discounts on travel bookings, accelerated reward points on travel aggregators, complimentary domestic and international airport lounge access, several airline and hotel partners for transferring reward points, etc. Basically, it offers almost everything that a frequent traveller will look for. So, if you are a travel geek, you may consider taking this credit card.

Gopal Gidwani is a freelance personal finance content writer with 15+ years of experience. He can be reached at LinkedIn.