hsbc travel one card terms and conditions

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HSBC launches TravelOne credit card – with 9 frequent flyer partners

HSBC launched a new travel credit card last week – the TravelOne card – a general spend option which boasts nine frequent flyer transfer partners and a 20,000 miles sign-up bonus when you apply between now and the end of August 2023.

The card also boasts fee-free transfers to frequent flyer miles until the end of 2023, while the transfers themselves will be instant, or in the worst case take only one business day.

Another plus that might make you keen to dive in with this one – the sign-up bonus is also open to existing HSBC cardholders too, not just new-to-bank applicants, as is usually the case with these promotions.

The annual fee is non-waivable in year one. It is waived each year from the second membership year onwards, provided you spent at least S$25,000 in the previous membership year.

To apply for an HSBC TravelOne card, you must be aged 21 or above and have a minimum annual income of:

• S$30,000 for Singapore Citizens and Permanent Residents, or
• S$40,000 for self-employed or commission-based Singapore Citizens or Permanent Residents, and for foreigners residing in Singapore

If you do not meet the income requirements, a minimum fixed deposit collateral of S$10,000 will suffice instead.

  Earn rates

The HSBC TravelOne card earns:

• 1.2 mpd for local spend (i.e. transacted in SGD), and
• 2.4 mpd for overseas spend (i.e. transacted in foreign currency).

No minimum spend or upper cap applies on earning with this card, but do note that unfortunately CardUp and ipaymy transactions do not earn miles on this (or any HSBC) card.

Here’s how that compares to some other general spend cards with similar income requirements on the market in Singapore.

Earn rates (general spend cards) (Best to worst, May 2023)

* During June and December only, otherwise the local spend rate applies

As you can see while the local earn rate of 1.2 mpd is run-of-the-mill, the FCY rate is on the more attractive side at 2.4 mpd, matching the UOB PRVI Miles cards.

The minimum spend to earn points with HSBC is also attractive at S$0.50, with some cards like those issued by OCBC and UOB earning no points at all for transactions less of than S$5.

  Sign-up bonus

HSBC is running a sign-up deal for those applying for the TravelOne credit card between now and 31st August 2023, with 20,000 bonus miles (paid as 50,000 HSBC Reward points) on offer when you spend S$800 or more by the end of the calendar month following the month of card approval.

The great thing about this offer is that it’s open to new and existing HSBC credit card holders.

That means if you’re already holding on to another HSBC card, like the Revolution or Visa Infinite products, you can still benefit from these bonus miles if you also pick up the TravelOne card between now and the end of August.

To be eligible you will need to:

• Apply by 31st August 2023
• Consent to receive marketing and promotional materials from HSBC
• Pay the annual fee of S$194.40
• Charge a minimum of S$800 in qualifying transactions by the end of the calendar month following the month of card approval (e.g. approved 19th May = meet the spend by 30th June)

Provided you have S$800 spend coming up, these 20,000 bonus miles cost 0.97 cents each based on payment of the S$194.40 annual fee.

There is a slightly higher cost, however, if you have to divert some or all the spend away from 4 mpd / 6 mpd credit cards to meet this threshold with the TravelOne card, which will be the case for some of our readers. It doesn’t dramatically change the equation though – this bonus is still worth it .

Qualifying transactions for the S$800 minimum spend comes with the usual HSBC exclusions, as shown below.

Spend exclusion categories

• Foreign exchange transactions (including but not limited to Forex.com);
• Donations and payments to charitable, social organisations and religious organisations;
• Quasi-cash transactions (including but not limited to transactions relating to money orders, traveler’s checks, gaming related transactions, lottery tickets and gambling);
• Payments made to financial institutions, securities brokerages or dealers (including but not limited to the trading of securities, investments or crypto-currencies of any kind);
• Payments on  money payments/transfers  (including but not limited to  Paypal , SKR skrill.com,  CardUp , SmoovPay,  iPayMy );
• Payments to any professional services provider (including but not limited to GOOGLE Ads, Facebook Ads, Amazon Web Services, MEDIA TRAFFIC AGENCY INC);
• Top-ups, money transfers or purchase of credits of prepaid cards, stored-value cards or e-wallets (including but not limited to EZ-Link, Transitlink, NETS Flashpay and Youtrip);
• Payments in connection with any government institutions and/or services (including but not limited to court costs, fines, bail and bond payment);
• Any AXS and ATM transactions;
• Tax payments (except HSBC Tax Payment Facility);
• Payments for  cleaning, maintenance and janitorial services  (including property management fees);
• Payments to  insurance companies  (including but not limited to sales, underwriting, premiums and insurance services);
• Payments to  educational institutions ;
• Payments on  utilities ;
• The monthly instalment amounts under the HSBC Spend Instalment;
• Balance transfers, fund transfers, cash advances, finance charges, late charges, HSBC’s Cash Instalment Plan, any fees charged by HSBC;
• Any unposted, cancelled, disputed and refunded transactions.

Full terms and conditions for the sign-up bonus are available here .

  Transfer partners

The most significant leap for this card is a new variety of airline and hotel loyalty programme partners for you to transfer your HSBC Reward points across to.

For other HSBC products like the Revolution and Visa Infinite cards, transfers are only supported to Singapore Airlines KrisFlyer miles and Cathay Pacific Asia Miles, but the HBSC TravelOne card allows you to transfer into  nine FFPs , as shown below.

HSBC FFP Transfer Partners

This is a strong list, including Star Alliance, Oneworld and SkyTeam options, and introduces Vietnam Airlines Lotusmiles as a credit card conversion partner for the first time in Singapore.

Qatar Airways Privilege Club (QRPC) is also a de-facto inclusion, since you can link your British Airways Avios and QRPC accounts and make unlimited instant free 1:1 transfers of any amount between them, whenever you like.

In all cases with these nine FFPs, the same transfer ratio of 25,000 HSBC Reward points to 10,000 miles applies (2.5:1), so the ‘advertised’ miles per dollar rates on this card are true for all of them.

Of less interest, but still potentially useful for some readers, you can also transfer HSBC Reward points accrued on the TravelOne card to three hotel loyalty programmes:

• Accor Live Limitless (25,000 : 5,000)
• IHG One Rewards (25,000 : 10,000)
• Marriott Bonvoy (25,000 : 10,000)

Hotel points value shouldn’t be totally discounted of course – the 50,000 Reward points (20,000 miles) sign-up bonus for this card could instead be transferred into 10,000 Accor points – worth EUR200 (S$290) against a future hotel stay.

That alone makes the annual fee of S$194.40 worth paying, provided you can hit S$800 spend.

  More to come?

By end of 2023, HSBC is promising to have  more than 20 airline and hotel transfer partners  available, at least eight more than it has now, so it will be interesting to see what the new options are in due course.

Fingers crossed for some useful additions like Turkish Miles&Smiles, Alaska Mileage Plan and Air Canada Aeroplan (some of these are already launch partners for the TravelOne card in Malaysia ).

Hopefully all these partners can also be added as options for other HSBC credit cards in future, not just the TravelOne card.

  Transfers are instant (or are they?)

One useful feature HSBC is promising with the TravelOne card is instant conversion from HSBC Rewards points to frequent flyer miles or hotel points.

This will be possible through the HSBC Singapore app ( App Store | Google Play ), and is currently exclusive to this card within the bank’s lineup.

Here’s HSBC’s step-by-step summary of how it will work.

There’s a little caveat, however, with a sneaky “or within one business day” get-out for the bank, plus if you’re transferring to Accor Live Limitless it will take up to five business days.

Air miles and hotel points redemptions will be completed instantly or within 1 business day. For Accor Live Limitless, it will take up to 5 business days. Please note that this list may be updated from time to time. HSBC

That could mean a Friday night transfer not crediting until Monday or Tuesday the following week in some cases.

It will be interesting to pick up some data points from readers on the actual transfer times in the months ahead – hopefully it is indeed simply instant!

↥  Minimum transfer quantity

The minimum transfer quantity is 25,000 HSBC Reward points, into 10,000 miles.

After that though, transfers can be made in 5 HSBC Reward point (2-mile) denominations.

That’s good news, because to unlock the sign-up bonus by spending S$800 you’ll accrue 960 miles for local spend (800 x 1.2) or 1,920 miles for FCY spend (800 x 2.4), in addition to the bonus itself.

That means you’ll have at least 20,960 miles and perhaps upwards of 21,920 miles in your rewards account for an exact spend of S$800 once the bonus miles come in, and thankfully you can transfer that exact quantity to miles, (since it’s greater than 10,000).

2-mile redemption blocks also avoids having ‘orphan miles’ stuck on your card, but only provided you keep your balance above 25,000 Reward points (10,000 miles) at all times.

Unfortunately HSBC does not allow you to combine points accrued on different cards, so if you have 24,999 HSBC Reward points on your TravelOne card it’s impossible to pool those with your Revolution card points, for example, to achieve a transfer.

  Free transfers till December 2023

Another good thing about the TravelOne card is that unlimited transfers to frequent flyer programmes are free of charge until 31st December 2023.

That can also help you split up your miles stash and transfer them into different FFPs, provided each transfer is at least 10,000 miles, without incurring any additional cost.

For example, if you accrue 22,000 miles you could transfer 10,000 into KrisFlyer and 12,000 into British Airways Avios if you wished, with no fees to pay for either transfer during the rest of 2023.

From 1st January 2024 it’s not clear whether HSBC will require TravelOne cardholders to subscribe to the HSBC Mileage Programme (S$43.20 per year for unlimited transfers), or charge a one-time fee for each transfer (typically S$25-27).

  Lounge access

The TravelOne card comes with  four complimentary lounge visits  per calendar year, under the DragonPass programme.

This includes a wide range of 1,300 lounges globally, with all 10 third-party options here in Singapore at Changi Airport accounted for.

The great thing about the lounge visits being based on  calendar year , assuming you pick up the TravelOne card in the coming months, is that you’ll be able to use up four visits in 2023, then a fresh four visit allowance will be loaded on 1st January 2024 for you to use next year.

If you then cancel the card before the second year annual fee is due – you’ve potentially scored eight lounge visits in your first card membership year (for your single S$194.40 annual fee).

Lounge visits can only be used by the principal cardholder, and unused visits do not carry over to the next calendar year. Terms and conditions are available here .

  HSBC Reward points expire

HSBC Reward points expire at the end of a 37-month period commencing from the month subsequent to the month in which such points were awarded.

That gives you three years and one month of validity. For example any points awarded in May 2023 will expire on 30th June 2026. Something to bear in mind with this card, especially once the (unknown) miles transfer fee kicks in next year.

  Other benefits

• Travel insurance Complimentary travel insurance coverage (including COVID-19) of up to US$100,000 for you and your family when you charge the full cost of your air ticket to the card. Full policy wording here .
• Mastercard Travel Rewards Cashback and discounts in-store and online at several retailers worldwide. Details here .
• Mastercard Priceless Specials A range of offers and benefits from Mastercard, like 3 nights for 2 at selected hotels. Details here .

HSBC has launched the TravelOne credit card in Singapore, which is a good general spend option with a typical earn rate for local spend (1.2 mpd) and arguably a more decent one than most cards offer for transacting in foreign currency (2.4 mpd).

While this clearly doesn’t eclipse specialised bonus 4 mpd or 6 mpd cards, as an uncapped general spend option it’s not a bad one .

The sign-up bonus of 20,000 miles for payment of the annual fee and a moderate spend in the first full calendar month after approval means buying miles at an attractive 0.97 cents each, and is also available to existing cardholders, plus there are up to eight lounge visits in your first card membership year – if you play it right.

The big benefit though is a myriad of new transfer partners across the main alliances, with more supposedly to come later this year, though this will only be truly useful if the list can be tapped by those holding other HSBC credit cards in Singapore – especially the 4 mpd Revolution card .

What do you think of the new HSBC TravelOne credit card? Let us know in the comments section below.

(Cover Photo: Shutterstock)

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HSBC TravelOne Card

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Get a  Hinomi Q1 Ergonomic Chair  (worth S$499) or a  Samsung 27-inch Smart Monitor M5  (worth S$432) or an  Apple AirPods 3rd Gen + S$50 Cash  (worth S$313.80) or S$150 Cash via PayNow  when you apply and spend a min. of S$500 from Card Account Opening Date to the end of the following calendar month.  T&Cs apply .

Are you eligible?

Promotion is valid from 15-April-2024 to 30-April-2024

Applicable for New-to HSBC cardholders only.

Customers need to apply through MoneySmart to be eligible

Applicants need to p rovide HSBC their consent to receive marketing and promotional materials from HSBC at the time of submitting their application.

What you need to know

Log into your MoneySmart account and submit your claim by 30th May 2024

Gift Options:   Hinomi Q1 Ergonomic Chair  (worth S$499) or a  Samsung 27-inch Smart Monitor M5  (worth S$432) an  Apple AirPods 3rd Gen + S$50 Cash  (worth S$313.80) or S$150 Cash via PayNow

Please note that gifts will typically be fulfilled approximately 5 months after the end of the campaign month (30 April 2024).

MoneySmart exclusive rewards do not stack with external or third party promotions unless otherwise stated. See T&Cs for details.

*Instantly Activate Your Virtual Card for Google Pay and Apple Pay Shopping!  T&Cs  apply.

Quick Facts

Instant Rewards Redemption

Categories to maximise this card

What people use it for.

Frequent travellers who are looking for more flexibility & choices in redeeming miles and good earn rate

You are looking for a miles credit card with high earn rate and fast redemption

All Details

Key features.

• Instant reward redemption with an extensive selection of airline and hotel partners via HSBC Singapore mobile app

Accelerated earn rate: up to 2.4 miles for your spending

Travel privileges: Complimentary travel insurance coverage (including COVID-19), 4 x complimentary airport lounge visits for primary cardholders and more

Split flexibly: Split your purchases across a range of flexible tenors that suits your needs with HSBC Instalment Plans

Receive complimentary access to ENTERTAINER with HSBC app, with over 1,000 worldwide 1-for-1 deals on dining, lifestyle and travel.

At MoneySmart, we strive to keep our information accurate and up to date. This information may be different from what you see when you visit a financial institution, service provider, or specific product site. MoneySmart shall not be liable to compensate the Customer should the information is not as updated as our Partner.

Air Miles Excellent

Overseas spending excellent, annual interest rate and fees, minimum income requirements, documents required, card association, wireless payment, moneysmart promotions.

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HSBC TravelOne Credit Card Review 2024

Introduced in early 2023, the HSBC TravelOne credit card represents HSBC's newest addition to its credit card lineup, specifically designed for those passionate about travel. It offers enhanced flexibility, ease, and appealing rewards.

Notable highlights include fee-free miles transfers with 9 frequent flyer partners and the integration with the HSBC mobile app, allowing users to effortlessly redeem travel rewards and handle their payments with utmost convenience. If you're considering whether to get the HSBC TravelOne Credit Card, let's find out if this card is suitable for you as we consider the requirements, pros and cons and more.

Pros and Cons of HSBC TravelOne Card

• 20,000 welcome bonus miles (50,000 reward points) upon payment of annual fee
• Up to 2.4 miles for every S$1 spent overseas
• No cap on miles/points earned
• Up to 1.2 miles for every S$1 spent locally
• No redemption fee when you redeem for air miles or hotel points
• Annual fee waiver available (from 2nd year onwards)
• Exclusive access to HSBC ENTERTAINER with HSBC Singapore mobile app, enjoy over 1,000 worldwide 1-for-1 deals on dining, lifestyle and travel
• Flexibility to split your purchases across a range of flexible tenors that suits your needs with HSBC credit card Instalment Plans at 0% interest fee
• Complimentary travel insurance
• Complimentary airport lounge visits per year for primary cardholders
• Interest rate of 26.90%, which is lower than some cashback credit cards (as per MoneySmart's Credit Cards comparison tool)
• Min. spend of S$1,000 to qualify for the 20,000 welcome bonus miles
• Min. spend of S$25,000 per year to qualify for the annual fee waiver

Compare HSBC TravelOne vs. Citi PremierMiles Card vs. SCB Journey Credit Card

Currently, the HSBC TravelOne Card offers the lowest minimum interest rate chargeable as compared to the Citi PremierMiles Card and Standard Chartered Journey Card.

In terms of annual fee, you'll definitely save more with the Standard Chartered Journey Card as compared to the HSBC TravelOne Card and Citi PremierMiles Card, as you wouldn't have to pay any annual fees for it.

When it comes to air miles benefits, the Citi PremierMiles Card comes up on top with the most attractive perks as compared to the HSBC TravelOne Card and Standard Chartered Journey Card, offering the highest air miles per S$1 spent on online travel bookings via Kaligo and Agoda.

However, the Citi PremierMiles Card requires a minimum spend of $800 per month for the first-year fee waiver, unlike the Standard Chartered Journey Card which does not have minimum spend requirements. HSBC TravelOne Card requires an even higher minimum spending of S$25,000 annually to be eligible for the second-year annual fee waiver.

In a nutshell, the HSBC TravelOne Card is worth getting if you're after its fee-free miles transfers with 9 frequent flyer partners, no cap on miles/points earned, plus the instant reward redemption with its extensive selection of airline and hotel partners via the HSBC Singapore mobile app.

Find Out More In Our HSBC TravelOne Blog Review

Hsbc travelone card application.

Here are 3 simple steps to apply for the HSBC TravelOne Credit Card:

Apply via MoneySmart’s credit cards page

You may begin your application by clicking on our HSBC TravelOne Card application link.

When you choose to apply online or through the HSBC mobile app and via SingPass MyInfo, HSBC will pull your identity and income data from SingPass (which is already verified), thus cutting short the processing time. The approval-in-principle page will appear within minutes of submitting your MyInfo.

Provide all documentation required

You'll need to provide all the necessary documentation in order for HSBC to approve your credit card application. This list of documents include:

• NRIC or other identification details
• Latest computerised payslip
• Latest 12 months' CPF Contribution History Statement
• Latest Income Tax Notice of Assessment (NOA)

Receive your HSBC TravelOne Credit Card

You’ll be able to activate your HSBC TravelOne Card instantly through the HSBC mobile app, and enter a One-Time Password (OTP) after keying in your 6-digit Online Banking PIN to secure all your credit card transactions. Thereafter, it’s ready for you to use on any of your purchases and you can track your air miles and other rewards with your HSBC mobile app!

Frequently Asked Questions

Are there any fees if i apply for the hsbc travelone credit card, am i eligible for the hsbc travelone credit card, if i’m late for my monthly hsbc travelone credit card bill payment, how much do i have to pay.

Is the HSBC TravelOne Card the One and Only Travel Card You Need?—MoneySmart Review 2023

Let’s talk about the HSBC TravelOne card’s name—“Travel One”. It aims to be the 1 travel card you need. HSBC says so as well: “Unlock instant travel rewards and elevated travel experiences everywhere you go with the one and only travel card you need.”

But does the HSBC TravelOne card (literally) live up to its name? If I only have 1 travel card, I want good miles earn rates, low (or no!) annual fees, and a slew of travel benefits and privileges. 

Let’s take a look at how the HSBC TravelOne Card fares. We review the card’s earn rates, travel rewards, privileges, and more. 

See our credit card ranking rubric to find out how we rank credit cards.

• HSBC TravelOne Card: Summary
• HSBC TravelOne Card: Eligibility
• HSBC TravelOne Card: Annual fees
• HSBC TravelOne Card: Earn rates
• HSBC TravelOne Card: Bonus earn categories
• HSBC TravelOne Card: Rewards points redemption
• HSBC TravelOne Card: Benefits and privileges
• HSBC TravelOne Card: Sign-up promotion
• Should I get the HSBC TravelOne Card?
• Alternatives to the HSBC TravelOne Card

1. HSBC TravelOne Card: Summary

HSBC TravelOne Card

Get a  Hinomi Q1 Ergonomic Chair  (worth S$499) or a  Samsung 27-inch Smart Monitor M5  (worth S$432) or an  Apple AirPods 3rd Gen + S$50 Cash  (worth S$313.80) or S$150 Cash via PayNow  when you apply and spend a min. of S$500 from Card Account Opening Date to the end of the following calendar month.  T&Cs apply .

Key Features

Instant reward redemption with an extensive selection of airline and hotel partners via HSBC Singapore mobile app

Accelerated earn rate: up to 2.4 miles for your spending

Travel privileges: Complimentary travel insurance coverage (including COVID-19), 4 x complimentary airport lounge visits for primary cardholders and more

Split flexibly: Split your purchases across a range of flexible tenors that suits your needs with HSBC Instalment Plans

Receive complimentary access to ENTERTAINER with HSBC app, with over 1,000 worldwide 1-for-1 deals on dining, lifestyle and travel.

At MoneySmart, we strive to keep our information accurate and up to date. This information may be different from what you see when you visit a financial institution, service provider, or specific product site. MoneySmart shall not be liable to compensate the Customer should the information is not as updated as our Partner.

The HSBS TravelOne card is an entry-level air miles card that’s good for general spending. It doesn’t come with any bonus earn categories, but does come with a good mix of travel benefits and privileges. These include travel perks (such as cashback and discounts when you shop overseas) and travel protection in the form of complimentary travel insurance.

Back to top

2. HSBC TravelOne Card: Eligibility

Let’s first talk about who’s eligible for the HSBC TravelOne Card.

An entry-level miles card, the HSBC TravelOne Card has pretty typical age and minimum income requirements:

• Age requirement: 21 years old
• For Singaporean and PR salaried workers: $30,000
• For Singaporeans and PRs who are self-employed or commission-based: $40,000
• For foreigners: $40,000

3. HSBC TravelOne Card: Annual fees

The HSBC TravelOne Card comes with a pretty standard annual fee of S$194.40 . Generally, this is the standard annual fee for most entry-level credit cards, barring credit cards with $0 annual fee .

Of course, the annual fee doesn’t matter if a fee waiver is available. HSBC doesn’t say anything about the first year’s annual fee (you can always try your luck requesting a fee waiver !). However, they will waive the annual fee for the second year onwards if you spend over S$25,000 per year. That’s about $2083 per month.

4. HSBC TravelOne Card: Earn rates

Here’s a quick look at how the HSBC Travel One Card’s earn rates compare to other entry-level miles cards:

The HSBC TravelOne Card local spend earn rates are average at best —there are miles cards with lower local earn rates, such as the BOC Elite Miles World Mastercard , which clocks in at just 1 mile per dollar (mpd).

However, the HSBC TravelOne Card’s foreign spend earn rates are above average . The only other miles credit card out there with a comparable rate is the UOB PRVI MASTERCARD Miles Card, which comes with a $5 minimum spend caveat—you need to spend S$5 to earn UNI$6/2.4 miles.

5. HSBC TravelOne Card: Bonus earn categories

At its heart, the HSBC TravelOne Card is meant for everyday, general spending. That comes with 1 downside: it doesn’t have any bonus earn categories . These refer to specific spend categories with which you can earn a greater number of miles per dollar.

Bonus earn rates are miles credit cards are usually between 3 mpd to 10 mpd. Here are some examples:

• Standard Chartered Journey Credit Card : 3 mpd on online transactions in Transportation, Grocery and Food Delivery Merchants categories
• UOB PRVI MASTERCARD Miles Card : 6 mpd (UNI$15 per S$5 spend) on major airlines and hotels booked through Expedia, UOB Travel, and Agoda
• Citi PremierMiles Card : Up to 10 mpd on online travel bookings via Kaligo and Agoda
• DBS Altitude Visa Signature Card : Up to 10 mpd on hotel transactions at Kaligo (capped at S$5,000/month); up to 6 miles per S$1 on flight, hotel and travel packages at Expedia (capped at S$5,000/month)

Is it a big disadvantage that the HSBC TravelOne card doesn’t have bonus earn categories? We would say not necessarily. It really depends on if you’d spend more on those bonus earn categories in the first place. For example, if you don’t want to book via Kaligo, Expedia or Agoda, the Citi PremierMiles Card and DBS Altitude Visa Signature Card bonus earn rates are basically made defunct.

6. HSBC TravelOne Card: Rewards points redemption

HSBC rewards you with Rewards points for each dollar of your spending—they don’t just give you miles directly. Here’s a breakdown of the points earn rates:

• 2.4 miles (6 Reward points) per S$1 foreign spending
• 1.2 miles (3 Reward points) per S$1 local spending

The good news is that from now till 31 Dec 2023, HSBC won’t charge you any conversion fee for redeeming your points for air miles or hotel points. Usually, you have to pay an annual HSBC Mileage Programme fee of S$40, subject to GST.

On top of that, HSBC rewards redemptions are fast . According to HSBC’s TraveIOne Card page, they’ll complete redemptions for air miles and hotel points instantly or in 1 business day.

Do note that HSBC Reward points expire after 37 months . 3+ years sounds like a lot of time, but you know how these expiry dates can creep up on us without us realising—fellow points hoarders, you know what I mean.

Prefer a rewards system with points/miles that never expire? Consider the Standard Chartered Journey Credit Card for 360 Rewards Points that never expire, or the Citi PremierMiles Card for Citi Miles that never expire.

7. HSBC TravelOne Card: Benefits and privileges

Although the HSBC TravelOne Card doesn’t have any bonus point categories, it does come with a generous slew of travel benefits and privileges. Broadly, these fall into 2 categories: travel perks, and travel protection.

HSBC TravelOne Card travel perks

• Airport lounge access : As the primary cardholder, you get 4 complimentary lounge visits per year to over 1,300 airport lounges around the world.
• Travel rewards : With the HSBC TravelOne Card, you get to enjoy cashback and discounts when you travel and do your shopping overseas under the Mastercard Travel Rewards catalogue . These apply to both in-store and online merchants across over 25 countries, including Daimaru Matsuzakaya Department Stores in Japan and Bloomingdale’s in the United States. 
• Mastercard Priceless™ Specials : This is another MasterCard rewards programme that you get with the HSBC TravelOne card, but this one is a bit more upmarket. It offers privileged access to benefits across travel, culinary, shopping, sports, entertainment, and arts and culture.

HSBC TravelOne Card travel protection

• Travel insurance : If you charge your air ticket (in full) to your HSBC TravelOne Card, you’ll get complimentary travel insurance coverage (including COVID-19) of up to USD100,000.
• ID Theft Protection™ : The HSBC TravelOne Card doesn’t just want to give you peace of mind while on holiday—it also aims to do so while you’re browsing and making purchases online. You can register for Mastercard ID Theft Protection™ to ensure your personal data is safe and secure, protecting you from identity theft and fraud. 
• Checking travel and health restrictions : It is such a chore to check for travel and health restriction/documentation. The HSBC TravelOne gives you access to Sherpa, a travel advisory tool that tells you what Visa requirements, travel documents, and even if COVID-19 tests are needed prior to your trip. 

Hungry for more benefits? Even if you aren’t travelling, the HSBC TravelOne Card comes with a dining perk you can use right here in Singapore. You’ll get complimentary access to ENTERTAINER with HSBC , which comes with tons of 1-1 deals on dining, lifestyle and travel. These deals are available worldwide, but there are plenty to choose from locally too.

ALSO READ :  Best Food Discount and Rewards Apps in Singapore—Chope, Burpple, Entertainer & More

8. HSBC TravelOne Card: Sign-up promotion

From now till 31 Aug 2023, you can get up to 20,000 Miles (in the form of 50,000 Rewards Points) when you apply for the HSBC TravelOne Card.

The downside is that you need to pay the card’s annual fee of S$194.40 (GST already included), as well as spend at least S$800 in qualifying transactions within 1 month. Depending on your lifestyle, this minimum spend could be easily doable, or a tall order.

9. Should I get the HSBC TravelOne Card?

If you’re looking for a general spending travel card (that means no bonus earn categories!), the HSBC TravelOne Card is a decent choice. Its earn rates are average or slightly above average (especially when it comes to foreign spending), and we like that you earn Rewards points per dollar spent. For some other cards with similar earn rates, you need to spend say $5 before you chalk up any points. This means that the HSBC TravelOne Card can help you earn points on even the smallest purchases.

Don’t forget that the HSBC Reward points expire after a 37-month period. This could be a pro or a con, depending on how much of a points hoarder you are.

The HSBC TravelOne Card does live up to its name as the 1 and only travel card you’ll need…if you’re looking for a general spending miles card. We suggest you get the HSBC TravelOne Card if you want a general spend card, if you value travel benefits, and if you’re looking for a higher than average earn rate for foreign spending. This card isn’t for you if you want a high bonus earn rate on selected categories, or if you want miles that never expire. 

10. Alternatives to the HSBC TravelOne Card

Here are some other entry-level miles cards for you to consider. These rewards points/miles never expire:

Standard Chartered Journey Credit Card : This card rewards you with a bonus earn rate of 3 miles for online transactions on transport, food delivery, and groceries. The best part is that the 360 Rewards Points you earn never expire.

Standard Chartered Journey Credit Card (No Annual Fee)

Up to 3 miles for every $1 spent

2 complimentary visits to Priority Pass lounges around the world each year

S$0 foreign transaction fee for overseas spend made and posted in June-July, November-December 2023

Complimentary travel insurance coverage of up to S$500,000.

360 Rewards Points do not expire

S$10 off Grab rides to or from Changi Airport

Citi PremierMiles Card : Citi Miles never expire! Plus, earn up to 10 miles per $1 spent on selected hotel bookings. 

Citi PremierMiles Card

[FASTER GIFT REDEMPTION | GIVEAWAY] Get a  Sony HT-AX7 Portable Theatre System  (worth S$769) or an  Apple iPad (9th Gen), 64GB  (worth S$508.30) or  S$450 Lendlease E-Vouchers  (can be used at 313@somerset, Jem, Parkway Parade, PLQ) or  S$300 Cash via PayNow, in as fast as 6 weeks  from meeting the S$500 spend criteria!   PLUS stand a chance to get a  Rolex Submariner 124060   (worth S$15,521) or an  Apple iPhone 15 Pro, 128GB  (worth S$1,664.25) or a  Sony PlayStation®5 (SLIM) Digital Edition  (worth S$669) when you apply through MoneySmart!  T&Cs apply .

S$1 = 1.2 Citi Miles on Local spend (no min. spend)

S$1 = 2 Citi Miles on Foreign currency spend

Earn 10,000 Citi Miles upon renewal of annual membership and payment of annual fee

Citi Miles never expire

Principal Cardholder gets to enjoy 2 complimentary visits every year to over 1,300 airport lounges worldwide.

OCBC 90 N Card : Travel$ never expire. You’ll also get up to 7 miles per $1 spent on Agoda accommodations worldwide.

OCBC 90°N Card

Designed with an LED light feature, the 90°N MasterCard Card lights up whenever you make a contactless payment.

Travel$ that do not expire - Convert Travel$ to loyalty points at 9 airline and hotel partner programmes.

Get cash rebates at up to 2.1% from your earned Travel$. No minimum spend and no caps

All online purchases on your OCBC 90°N Card come with e-Commerce Protection, which safeguards you against non-delivery or defective goods or if the seller fails to reimburse you.

Check out and easily compare the other air miles credit cards in Singapore .

P.S. Here’s our MoneySmart credit card ranking rubric

In case you’re wondering, here’s how we decide on our credit card rankings.

Don’t miss our ultimate list of credit card reviews  for the low-down on credit cards in Singapore.

Found this article useful? Share it with a fellow traveller considering a miles card!

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Redeem miles on the go and enjoy even more getaways: how to travel smarter and make every dollar count, explorers can rediscover the world easier than ever with the new hsbc travelone credit card’s instant reward redemption, accelerated earn rate and other privileges.

If the recent reports on international tourism rebounding strongly and on track to returning to its pre-pandemic levels in 2023 are any indication, travellers are now planning their holidays and getaways in full force. And with most countries dropping travel restrictions, explorers are taking full advantage to discover – or rediscover – the world. 

Ms Ashmita Acharya, Head of Wealth and Personal Banking, HSBC Singapore, agrees, saying: "We are seeing a resurgence in overseas travel by our customers from Singapore who, post-pandemic, are embracing the freedom to travel again."

According to her, they continue to value credit cards when travelling overseas.

For those looking to make up for the years of restricted travel, the new HSBC TravelOne Credit Card is the new must-have companion. It is the first in Singapore that offers an instant reward redemption of airline miles and hotel points through the HSBC Singapore mobile app, and an extensive selection of airline and hotel partners to enable cardholders to unlock a world of travel freedom.

"The HSBC TravelOne Credit Card allows customers to easily redeem travel rewards and manage their payments flexibly, all from the convenience of the HSBC mobile banking app. Alongside products and services such as HSBC Global Money Transfers, we are delighted to provide our customers with more choice and convenience for their international transactions," adds Ms Acharya.

Here are three ways travellers can make the most out of their globetrotting experiences with the HSBC TravelOne Credit Card on hand.

Visit more exotic destinations with instant reward redemption +

With the HSBC TravelOne Credit Card, travellers enjoy instant reward redemption starting  with nine airline partners and two hotel partners . There will be a total of more than 20 airlines and hotel partners by the end of the year.

This means greater freedom than ever to explore far-flung cities and off-the-beaten locations that are within easy reach through the redemption of HSBC TravelOne Credit Card reward points to miles with a wide range of airlines to choose from.

It could bring you to Italy, where you can check out cities like Turin and Cremona, known for their art museums and violin-making craftsmanship respectively. Prefer the wintry lands? Visit Iceland and don’t miss the Black Sand Beach, a stunning volcanic landscape where basalt rock formations meet foaming seas.

Equally as beautiful are the sprawling lavender fields in Tambara Lavender Park in the Kanto region of Japan, where approximately 50,000 lavender plants of different varieties come into bloom from July to August.

Complement your travels with stylish stays at hotels like 101 Hotel Reykjavik, Iceland’s first boutique hotel; or Hotel Indigo in Turin, which provides all the modern amenities set in the old world charm of the city. With instant reward redemption at partner hotel groups like Marriott Bonvoy and IHG Rewards One, you’ll get a comfortable stay no matter where your adventures take you.

As we continue to serve the broad range of financial needs of our customers in Asia, we are building innovative products and services that enable them to spend on experiences that matter most to them and their families, with the ease and streamlined experience that technology brings.

Earn more points for every dollar spent

With rising costs, most people want to nab the best deals. 

With the HSBC TravelOne Credit Card, you can maximise your spending with the card's generous accelerated earn rate of up to 2.4 miles per $1 charged # . This means you can earn points quickly that can in turn, be redeemed for more air miles or rewards to be used at your next destination. With the June and September holidays, those travelling with little ones can leverage this feature to get the best deals for the whole family.

An added bonus: HSBC TravelOne cardholders can earn cashback and miles simultaneously. Simply sign up for the HSBC Everyday Global Account (EGA) and qualify for the HSBC Everyday+ Rewards Programme to earn an additional 1 per cent cashback on all card spending.*

For those travelling with extended family or in a big group, download the ENTERTAINER with HSBC app and use it to enjoy one-for-one offers locally and overseas, including stays at over 175 hotels around the world. They include the five-star Chatrium Hotel Riverside Bangkok and family-friendly The Alena Resort Ubud in Bali.

For a limited time only, HSBC cardholders, including holders of the HSBC TravelOne Credit Card, get to enjoy discounts for international flights via Skytrax 5-Star Eva Air to popular destinations like Taipei, Paris and New York, and hotel bookings via the Traveloka and Agoda apps.

Enjoy complimentary travel insurance, lounge visits and more

You’d be surprised by how being familiar with your card privileges can help to preempt any potential mishaps and even elevate a holiday. For example, charge the full cost of your and your family’s air tickets to your HSBC TravelOne Credit Card and enjoy complimentary travel insurance coverage^ (including Covid-19) of up to US$100,000. 

Connecting flight delay or long layovers? The four annual complimentary lounge visits for primary cardholders via the Mastercard Travel Pass (MTP) by DragonPass ensure that you arrive at your destination in comfort and style.

And even if you decide to unwind in Singapore during the school holidays, the ENTERTAINER with HSBC app also gives you access to over 1,000 one-for-one offers worldwide on dining, leisure, attractions and wellness choices, so you have the flexibility to shape your local and overseas holiday adventure the way you want it. You even have the option to split payments flexibly.

Says Mr Nuno Matos, Chief Executive Officer, Wealth and Personal Banking, HSBC: "South Asia’s economies continue to grow, with increased consumer demand for travel and leisure, following the pandemic. As we continue to serve the broad range of financial needs of our customers in Asia, we are building innovative products and services that enable them to spend on experiences that matter most to them and their families, with the ease and streamlined experience that technology brings.

"With our innovations such as the HSBC TravelOne Credit Card, we aim to achieve strong growth in our lending solutions in South Asia in the next five years."

With the HSBC TravelOne Credit Card, avid travellers can unlock a world of travel freedom. Exclusive welcome offer when you apply – get 20,000 air miles (awarded in the form of 50,000 reward points) ~ . Plus, no miles conversion fee for a limited period till Dec 31, 2023.

Find out more at  www.hsbc.com.sg/travelone .

Terms and Conditions apply.

+ Air miles and hotel points redemptions will be completed instantly or within 1 business day. For Accor Live Limitless, it will take up to 5 business days. Please note that this list may be updated from time to time.

# HSBC TravelOne Credit Card reward points programme terms and conditions apply. 

*SGD deposits are insured up to $75k by SDIC. HSBC Everyday+ Rewards Programme Terms and Conditions apply.

^Travel insurance coverage is underwritten by HSBC Life (Singapore) Pte. Ltd. HSBC Bank (Singapore) Limited is not the underwriter nor the distributor for this insurance plan. It is not an obligation of, deposit in or guaranteed by HSBC Bank (Singapore) Limited (Company Registration No. 201420624K).

~ Welcome Gift: Applicable when you apply for a TravelOne Credit Card from May 11 to Aug 31, 2023, provide marketing consent to HSBC, make a minimum eligible spend of $800 within qualifying spend period and annual fee payment.

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HSBC TravelOne Credit Card

Unlock a world of travel freedom

Instant reward redemption with an extensive selection of airline and hotel partners. 

Welcome offer

Get a Welcome Offer of VND3,000,000 for new Primary Cardholders.

Open up a world of elevated travel

Instant redemption

Earn accelerated points

Travel privileges

Flexible card features

Spend, earn, and go further, earn points and redeem them instantly[@cards-instantly].

Be spoilt for choice with instant miles and hotel points redemption with a wide range of airline and hotel partners such as Cathay Pacific, Singapore Airlines, Vietnam Airlines, AirAsia, Marriott Bonvoy and more.

• 3× Reward points for overseas spends[@reward-points-spend-limit]
• 2× Reward points for domestic travel spends[@reward-points-spend-limit]
• Unlimited 1× Reward points[@reward-unlimited-points-exclusions] for all other spends
• Find out how to redeem instantly  

Travel in style

Redeem your Reward points at a wide variety of airline and hotel partners, quickly and easily through the HSBC mobile banking app.

• Enjoy 4 complimentary airport lounge visits a year to over 1,300 global airport lounges (for primary cardholders only) - register now
• 12% discount for  AGODA travel service booking service
• Complimentary airport rides  4 times a year from BE, capped at VND150,000 per trip
• Overseas administration fee only at 1.99%
• Exclusive travel and lifestyle services for  Mastercard®  cardholders
• Secure your personal data from identity theft or fraud with  Mastercard ID Theft Protection ™
• Peace of mind with complimentary travel insurance  up to VND11.5 billion

Access card offers and rewards

• Convert your card purchases  into flexible monthly instalments at 0% interest with no fees for up to 24 months at HSBC’s partner merchants. Or spend VND2million at non-partner merchants and enjoy preferential conversion fee from 1.99% -  find out more
• With home&Away offers, get up to a 50% discount year round at hundreds of HSBC worldwide partners
• Up to 50% off dining, entertainment, shopping, travel, spa and beauty services -  see daily offers
• Refer your friends to become primary HSBC credit cardholders and enjoy rewards of up to VND5 million -  see referral offer

Who can apply?

To apply, you must:

• be at least 18 years of age.
• VND15 million for salaried earners who are Vietnamese and VND36 million for foreigners
• VND40 million for Vietnamese people who are self-employed or business owners
• live in one of the following cities and provinces: Hanoi, Ho Chi Minh City, Dong Nai, Binh Duong, Long An, Da Nang, Hue, Hoi An, Ba Ria - Vung Tau, Tay Ninh, Bac Ninh, Vinh Phuc, Hung Yen, Hai Duong, Hai Phong
• have residence permission in Vietnam for at least 12 CONSECUTIVE months at the time of application, if you're a foreigner staying in Vietnam

See what you need to apply 

You must submit these  supporting documents :

• completed credit card application form
• identification documents for primary and supplementary applicant(s)
• current proof of residential address
• documentary proof of employment and income for primary applicant

Important documents 

• Cardholder Agreement (PDF, 559KB) Cardholder Agreement (PDF, 559KB) to read about HSBC Credit Card Cardholder Agreement Download link
• Fees and charges (PDF, 747KB) Fees and charges (PDF, 747KB) to read about HSBC Credit Card fees and charges Download link
• How to protect your Credit Card (PDF, 179KB) How to protect your Credit Card (PDF, 179KB) to read about How to protect your credit card Download link
•   Finance charge calculation Finance charge calculation to read about HSBC Credit Card finance charge calculation Modal link
•   Credit cards users guide Credit cards users guide to read about HSBC Credit Cards User Guide Modal link
•   Credit card tips Credit card tips to read about HSBC Credit Card tips Modal link

Fees and charges 

For more details, please refer to  Personal Banking Tariff (PDF, 747KB)

Apply online in just a few easy steps. It'll only take minutes, and you'll soon be on your way to receiving your welcome gift.

Before applying, please make sure you read the information under the ' Who can apply ?' section.

Frequently asked questions

How do i get airport lounge access .

Step 1: Download the Mastercard Travel Pass app on the App Store or Google Play and sign up as a member or log on to your Mastercard Travel Pass account if you're already a member.

Step 2: Enter your TravelOne Credit Card details (that is, your card number, CVC, expiry date and country of issuance)

Step 3: Enter your name as shown in your passport

Step 4: Create a password

Step 5: Your account will be created

Then simply use the membership number stored under 'Membership' when visiting airport lounges.

With the app, you can also view the airport lounges available, keep track of your usage history and access many more services.

How do I redeem HSBC TravelOne Credit Card reward points? 

Step 1: Log on to the HSBC Vietnam app & select your HSBC TravelOne Card.

Step 2: Select 'Redeem your points', then 'Airline Miles' or 'Hotel Points'.

Step 3: Enter your details, including your airline/hotel program membership ID and the number of points you want to redeem.

Step 4: Review your order, read the terms and conditions and select 'Submit'.

How do I get hotel discounts? 

Step 1: Visit https://www.agoda.com/vnmastercard.

Step 2: Select the destination, dates and number of travellers.

Step 3: Select the eligible pre-paid hotels and room types (hotels with “Promotion Eligible” label).

Step 4: Pay with your HSBC TravelOne Credit Card to enjoy your discount.

All hotel offers are governed by Agoda's terms and conditions.

• Other frequently asked questions  

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How to activate your hsbc credit card  , supplementary card  , hsbc current account  , hsbc visa platinum online credit card  , disclaimer .

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HSBC TravelOne Card adds 8 new airline and hotel partners, including Aeroplan

HSBC TravelOne Cardholders can now redeem miles for Aeroplan, Qatar Privilege Club, Turkish Miles&Smiles, JAL MileageBank and more. The catch: very poor conversion ratios.

Back in May 2023,  HSBC launched the TravelOne Card, its first-ever mass market miles card. This had a lot of things going for it: a 20,000 miles welcome offer for both new and existing customers, eight lounge visits in the first membership year, instant transfers with no conversion fees, and conversion blocks of just two miles after the first 10,000 miles.

But the thing that intrigued me the most were the transfer partners. At the time of launch, HSBC TravelOne Cardholders could transfer points to 12 different airlines and hotels, snatching away Citi’s “most transfer partners” crown. And HSBC made it clear that they weren’t done yet, because the plan was to have more than 20 airline and hotel partners by the end of 2023. 

HSBC has now made good on their word by adding eight new airline and hotel partners to the TravelOne’s stable, including a Singapore debut for Air Canada Aeroplan and Japan Airlines Mileage Bank , as well as miles community favourites Qatar Privilege Club and Turkish Airlines Miles&Smiles.

Unfortunately, it’s not all good news. While I always welcome new transfer partners, the conversion ratios at which many of these are being offered threaten to nerf any potential value. 

Let’s dive into the details. 

HSBC TravelOne Card new partners

Effective immediately, HSBC TravelOne Cardholders can transfer their points to 16 airlines and 4 hotel programmes. 

Conversions can be made at the following ratios.

Airlines (16)

All HSBC TravelOne Card partner transfers are processed instantly , with the exception of the following:

• Accor Live Limitless: Within 5 business days
• Club Vistara: Within 5 business days
• Hainan Fortune Wings Club: Within 5 business days
• Qatar Privilege Club: Within 5 business days
• Japan Airlines Mileage Bank: Within 21 business days

All transfers are currently processed free of charge until 24 January 2024. Following this, HSBC will impose an (absurdly) expensive fee of 10,000 points per transfer, which I’ve talked about in the post below.

HSBC TravelOne Card adds hefty 10,000 points conversion fee

My thoughts on the new transfer partners

Let’s ignore transfer ratios for a minute and just talk about the new partners.

For me, the biggest excitement is undoubtedly  Air Canada Aeroplan. This is the first time it’s been available through a Singapore credit card, and it’s well-loved by the miles and points community, for good reason.

• No fuel surcharges
• More airline partners than any programme (including non-Star Alliance partners like Air Mauritius, Azul, Gulf Air and Oman Air)
• Stopovers can be added on one-way awards for just 5,000 points
• Virtually all partner awards can be booked online
• Access to Singapore Airlines award space can be better than KrisFlyer even

Japan Airlines Mileage Bank  is another first for Singapore. This used to be an excellent programme for redeeming Emirates First Class awards, but that’s no longer been possible since September 2021. You can still redeem Emirates Business Class awards, but you’ll have to pay some very hefty fuel surcharges. Domestic Japan awards start from 6,000 miles.

Qatar Privilege Club  offers competitive Business Class redemption rates between Singapore and Europe (70,000-75,000 miles) and North America (95,000 miles), and the best part is that Qatar does not impose fuel surcharges for redemptions on its own flights. This can save you hundreds of dollars compared to booking through Asia Miles or another oneworld programme.

However, this shouldn’t be seen as a new addition per se, since HSBC TravelOne Cardholders already have access to British Airways Executive Club, and Avios can be transferred between the programmes at a 1:1 ratio. 

Turkish Miles&Smiles  offers great value Business Class awards between Singapore and Japan/Europe, which cost just 35,000 miles/45,000 miles respectively. 

Club Vistara is an odd addition, particularly since Vistara is living on borrowed time. It’s already been announced that Air India will discontinue the brand once the merger with Tata SIA Airlines is completed. This presumably means that Club Vistara members will become part of Air India’s Flying Returns programme.

From what I know, there isn’t really anything to get excited about  Hainan Fortune Wings or  THAI Royal Orchid Plus, so I wouldn’t waste time studying their award programmes if I were you.

Transfer ratios

If you were waiting for the other shoe to drop, here it is: the transfer ratios are poor. 

The seven new airline partners have ratios ranging from 30,000 to 50,000 points to 10,000 miles , 20%-100% more than the 25,000 points to 10,000 miles that was the standard for all nine airline partners prior to this.

To put it another way, HSBC TravelOne Card cardholders currently earn:

• 3X HSBC points per S$1  on local spend
• 6X HSBC points per S$1 on foreign currency spend

That works out to 1.2 mpd/2.4 mpd, but only if  you’re choosing a partner with a 25,000 points to 10,000 miles ratio.

Otherwise, the earn rates can fall as low as 0.6 mpd/1.2 mpd respectively.

This problem is compounded by the fact that it’s not easy to accrue HSBC TravelOne points:

• HSBC points don’t pool — the bank says they’re working on adding this, but it won’t be coming in 2023 — so you can’t tap the 4 mpd earning power of the HSBC Revolution
• HSBC does not have an equivalent of Citi PayAll; in fact, they ended their income tax payment facility for credit cards in January this year
• HSBC does not allow cardholders to earn points on CardUp/ipaymy transactions

Therefore, it’d take a significant amount of spending to reach the critical mass required for a long-haul Business Class award, let alone several, let alone if you’re looking at a frequent flyer programme with a 30,000-50,000 points : 10,000 miles ratio!

The Aeroplan silver lining

Now, all that having been said, I want to spend a little time talking about Aeroplan specifically, because that can be the potential silver lining here. 

This probably deserves a separate post on its own, but here’s a quick idea of how Aeroplan’s award pricing for one-way Business Class flights compares to KrisFlyer.

Now, this would be  phenomenal  if you could earn Aeroplan and KrisFlyer miles at the same rate. But you can’t, and since Aeroplan is 3.5:1 versus KrisFlyer 2.5:1, we need to increase the Aeroplan figures by 40%.

This narrows the use cases significantly, though it doesn’t destroy them altogether.

Look at Australia, for example. Not only is Aeroplan cheaper than KrisFlyer, it sometimes has better access to Singapore Airlines award space than KrisFlyer! Yes, you read that right: Aeroplan members can sometimes see Singapore Airlines award space that KrisFlyer members can’t.

Here’s an example from April 2024. Notice how Aeroplan can see three Business Class seats on the 0045 SQ231 flight from SIN-SYD.

If you try to book three Business Class seats on the 0045 SQ231 flight from SIN-SYD via KrisFlyer, you’ll have to waitlist. 

And that’s not even taking into account fuel surcharges.  Singapore Airlines does not impose these on its own flights anymore, but if you’re redeeming KrisFlyer miles for Star Alliance partners like ANA, Lufthansa or Turkish, you still need to pay.

For example, it will cost 103,500 miles + S$442 to redeem a one-way Business Class award from Singapore to Europe on Lufthansa.

With Aeroplan, the equivalent cost is 112,000 miles (80,000 + 40%) + S$100. 

I think it says quite a bit about how good Aeroplan is that even with a 40% handicap, it can still be competitive with KrisFlyer!

The HSBC TravelOne Card has added eight new airline and hotel partners, bringing its total options to 20. 

As excited as I am to see new faces like Air Canada Aeroplan and Japan Airlines Mileage Bank, the transfer ratios make them relatively unattractive. There could still be some cases for transfers to Aeroplan, but otherwise most people would do better by sticking with 25,000 pts: 10,000 miles partners like KrisFlyer, Asia Miles, British Airways, Flying Blue and EVA Infinity MileageLands.

What do you make of the new TravelOne partners?

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Hsbc offering full refund of mileage programme annual fee, citi payall offer: 2 mpd on tax payments, 1.6 mpd on non-tax payments.

Should revolution be given this redemption list, it will change the environment of redemptions in Singapore quite a bit with Aeroplane. SQ should be concerned about this.

How is HSBC able to transfer miles instantly when others take up to X days. What’s the barrier preventing others from doing the same? More fees for the bank?

This is made possible via api integration provided by ascenda loyalty. Ocbc and scb use the same platform too (though not for krisflyer miles, which is why those still require a few days)

Oh, interesting! I’m not sure if there’s value in it for the site, but I would love to read a Milelion article on how the backend points/miles system works today (ie APIs, banks, third parties, airlines, etc).

I would be interested to know how things work too! But you are right that it might not of value for this site.

try this: https://milelion.com/2023/01/30/behind-the-scenes-how-do-airlines-tie-up-with-credit-cards/

Thanks, but the miles earn rate is extremely slow. With UOB PP or citibank rewards card, I can easily earn 4mpd.

when will the HSBC point pools ready? Do you have any information?

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HSBC says growing Chinese wealth fuels client investments in US

HSBC’s wealthy clients in China and Hong Kong are still eager to invest in the US, according to Michael Roberts, the bank’s CEO for the USA and Americas.

China’s economic growth remains strong relative to other nations, and its wealthy citizens are focused on overseas investments, Roberts told Reuters in an interview.

“Chinese investors are becoming very sophisticated,” he said. “For most Asian investors, the first port of call is the US”

The bank’s focus on wealth comes at a time of simmering US-China tensions. Dealmaking in Asia remains subdued, prompting some American financial firms more focused on investment banking fees to cut jobs and rein in their ambitions. And the US has preliminarily discussed sanctions on some Chinese banks but does not yet have a plan to implement such measures, a US official told Reuters on Tuesday (Apr 23).

HSBC manages around US$1.8 trillion from wealthy clients, with a large portion coming from Asia. Last year, it bought Citigroup’s consumer wealth business in China, adding clients, assets under management and deposits.

The move came after HSBC sold more than 200 US retail branches, shifting its focus to wholesale businesses and wealth.

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HSBC kept around 400,000 individual clients with higher net worth at 22 dedicated offices it calls wealth centres, including one that opened on Tuesday at its new office in Manhattan’s Hudson Yards district. Wealthy foreigners represent around 70 per cent of the group.

Its corporate and investment banking division often refers owners and executives to the wealth management division, said Racquel Oden, HSBC’s head of wealth and personal banking, during the opening on Tuesday.

She cited an example of an Indian client sending his son to study at a US university who could later secure a credit card or mortgage because of the family’s relationship with the lender globally.

Wealthy non-US clients seeking jumbo mortgages in the US typically make large upfront payments and borrow for shorter periods of five to seven years, Roberts said. REUTERS

KEYWORDS IN THIS ARTICLE

• HSBC’s Quinn targets lifting wealth business in China, India

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SPH MEDIA DIGITAL NEWS

MCI (P) 064/10/2023 © 2024 SPH MEDIA LIMITED. REGN NO. 202120748H

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24 Apr 2024

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• The investment decision is yours but you should not invest in this product unless the intermediary who sells it to you has explained to you that the product is suitable for you having regard to your financial situation and investment experience.
• Investment involves risk. Loss may be incurred as well as profits made as a result of buying and selling investment products.
• Currency conversion risk - the value of your foreign currency and RMB deposit will be subject to the risk of exchange rate fluctuation. If you choose to convert your foreign currency and RMB deposit to other currencies at an exchange rate that is less favourable than the exchange rate in which you made your original conversion to that foreign currency and RMB, you may suffer loss in principal.
• RMB is currently not freely convertible and subject to regulatory restrictions (which might be changed from time to time).

Support / Resistance

vs USD  0.6349 / 0.6633   ⬇

AUD ended higher against the dollar yesterday, influenced by disappointing S&P Global PMIs from the US and ahead of Australian inflation data which could influence the RBA's monetary policy decisions. AUDUSD rose 0.56% yesterday while AUDHKD ended at 5.08 level.

vs USD  1.0570 / 1.0856   ⬇

EUR strengthened against the dollar yesterday and at one point climbing to a two-week peak after the Eurozone flash composite PMI came in above consensus, as an upside surprise on services offset manufacturing disappointment. EURUSD rose 0.42% yesterday while EURHKD ended at 8.38 level.

vs USD  1.2260 / 1.2673    ⬇

GBP rose against the dollar yesterday on robust increase in UK Services preliminary PMI for April, surprisingly jumped to 54.9 from 53.1. While BoE policymakers are lined up to speak as investors seek clues about the interest-rate outlook. GBPUSD rose 0.80% yesterday while GBPHKD ended at 9.75 level.

vs USD   0.5826 / 0.6058   ⬇

NZD rose against the dollar yesterday as USD takes a hit as S&P PMI data disappoints improving appeal for risk-sensitive asset NZD. While investors await the US core PCE data for March. NZDUSD rose 0.22% yesterday while NZDHKD ended at 4.64 level. 

vs USD   7.2324 / 7.2520   ⬆

CNH ended lower against the dollar yesterday despite USD weakness after its central bank set the official guidance rate at the weakest level in nearly two months. USDCNH rose 0.13% yesterday while CNHHKD ended at 1.07 level.

vs USD   1.3475 / 1.3846   ⬇

CAD strengthened against the US dollar yesterday and the yield on benchmark government debt climbed as the USD eased. CAD was also boosted by a rise in oil prices which rose by more than $1 per barrel. USDCAD fell 0.27% yesterday while CADHKD ended at 5.73 level. 

vs USD   152.12 / 156.19   ⬆

JPY dropped to multi-year low against the USD and EUR, however still ended marginally higher against the USD yesterday as the USD eased later in the day after data showed US business activity eased in Apr to a four-month low. USDJPY fell 0.01% yesterday while JPYHKD ended at 5.06 level. 

vs USD   0.9025 / 0.9180    ⬇

CHF ended marginally stronger against the dollar yesterday as the USD eased after US PMI data missed expectations with manufacturing sector contracting unexpectedly and business activity easing to a four month low in Apr. USDCHF fell 0.01% yesterday while CHFHKD ended at 8.59 level.

vs USD   1.3473 / 1.3709   ⬇

SGD ended slightly stronger against the US dollar yesterday as the USD eased. Meanwhile Singapore core inflation eased more than expected to 3.1% in Mar are prices of food and services rose at a slower pace. USDSGD fell 0.07% yesterday while SGDHKD ended at 5.75 level. 

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This document has been prepared for information only. Information contained in this document is obtained from sources believed to be reliable; however HSBC does not guarantee its completeness or accuracy. The information contained in this document is intended for Singapore residents only and should not be construed as an offer to purchase or subscribe for any investment where such activities would be unlawful under the laws of such jurisdiction, in particular the United States of America and Canada. This material is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment or securities nor shall it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. The specific investment objectives, personal situation and particular needs of any person have not been taken in consideration. You should therefore not rely on it as investment advice. Opinions and estimates expressed are subject to change without notice and HSBC expressly disclaims any and all liability for representations and warranties, express or implied, contained herein, or for omissions. All charts and graphs are from publicly available sources or proprietary data. The mention of any security should not be construed as representing a recommendation to buy or sell that security, nor does it represent a forecast on future performance of the security.

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