HSBC TravelOne Card boosts renewal bonus to 12,000 miles

The HSBC TravelOne Card has historically offered cardholders 25,000 HSBC points as a renewal gift for paying the second and subsequent years’ annual fees. This is worth up to 10,000 miles, and given the S$196.20 annual fee, is on par with other mass market miles cards like the Citi PremierMiles or DBS Altitude.

However, HSBC has now boosted 2026’s renewal gift by 20% to 30,000 HSBC points, which puts it some distance ahead of the competition— provided you’re not interested in KrisFlyer!

HSBC TravelOne Card boosts renewal bonus to 12,000 miles

HSBC TravelOne Cardholders who renew their card from 1 January 2026 will receive 30,000 HSBC points as a renewal gift, compared to 25,000 HSBC points before.

Effective from 1 January 2026, you can receive up to 12,000 miles (in the form of 30,000 Reward points) when you pay your annual fee from the second year onwards.

-HSBC

This is equivalent to up to 12,000 miles (the “up to” qualifier is necessary because the actual number depends on which loyalty programme you choose— more on that below), which given the annual fee of S$196.20 works out to 1.64 cents per mile.

This compares very favourably to other entry-level miles cards on the market, all of which have adopted a standard 10,000 miles for their S$196.20 annual fees.

Card	Annual Fee	Miles	CPM
HSBC TravelOne Card Apply	S$196.20	12K	1.64¢
KrisFlyer UOB Credit Card Apply	S$196.20	10K	1.96¢
OCBC 90°N MC Apply	S$196.20	10K	1.96¢
OCBC 90°N Visa Apply	S$196.20	10K	1.96¢
StanChart Journey Apply	S$196.20	10K	1.96¢
DBS Altitude AMEX Apply	S$196.20	10K	1.96¢
DBS Altitude Visa Apply	S$196.20	10K	1.96¢
Citi PremierMiles Apply	S$196.20	10K	1.96¢

It’s even better when you consider that renewing the card for another year will get you an additional four lounge visits, though they’ll only be credited from the start of the following calendar year.

For example, if your card was approved on 1 June 2025:

• You’ll receive 4x lounge visits to use by 31 December 2025
• On 1 January 2026, you’ll receive a further 4x lounge visits to use by 31 December 2026
• On 1 June 2026, you’ll pay your second year’s annual fee
• On 1 January 2027, you’ll receive a further 4x lounge visits to use by 31 December 2027 (using 2027’s lounge visits does not oblige you to renew your card come June 2027, if you’re not inclined to)

What if your annual fee is waived?

The HSBC TravelOne Card offers an annual fee waiver to cardholders who spend at least S$25,000 in a membership year.

If the annual fee is waived, you will not receive the 30,000 HSBC points. That said, you will still receive four more lounge visits, once the calendar year starts over.

For what it’s worth, HSBC appears to be enforcing this spending requirement very strictly, so if you can’t get a waiver and don’t find the renewal miles attractive, your only option would be to cash out your points and cancel the card.

HSBC TravelOne current welcome offer

Apply

As a reminder, from 1 September 2025 to 31 January 2026, customers who apply for a HSBC TravelOne Card will receive a welcome bonus of up to 33,600 miles, as summarised in the table below.

Cardholders must meet a minimum spend of S$500 or S$1,000 to receive the bonus miles. For the avoidance of doubt, they can choose to spend just S$500 to receive 25,000 miles (new) or 13,000 miles (existing), or S$1,000 to receive 33,600 miles (new) or 21,600 miles (existing).

In addition to meeting the minimum spend all applicants must also:

• Pay the first year’s S$196.20 annual fee
• Provide consent to receiving marketing and promotional materials during application (an important step that people often forget!)

The welcome bonus is in addition to the base miles that HSBC TravelOne Cardholders usually earn, namely 1.2 mpd for local currency spend, and 2.4 mpd for foreign currency spend.

For example, a new-to-HSBC cardholder who spends the full S$1,000 in foreign currency will receive a total of 36,000 miles (33,600 bonus, 2,400 base). This is the assumption that HSBC makes in its marketing materials, hence the advertised 36,000 miles figure.

More details can be found below.

HSBC TravelOne Card extends 33,600 miles welcome bonus

What can you do with HSBC points?

HSBC points earned on the TravelOne Card can be transferred to 20 airline and hotel partners. The conversion ratios are provided in the table below.

✈️ HSBC Airline Partners
Frequent Flyer Programme	Conversion Ratio (HSBC Points : Partner)
	50,000 : 10,000
	35,000 : 10,000
	35,000 : 10,000
	35,000 : 10,000
	35,000 : 10,000
	35,000 : 10,000
	30,000 : 10,000
	30,000 : 10,000
	25,000 : 10,000
	25,000 : 10,000
	25,000 : 10,000
	25,000 : 10,000
	25,000 : 10,000
	25,000 : 10,000
	25,000 : 10,000
	25,000 : 10,000

🏨 HSBC Hotel Partners
Hotel Programme	Conversion Ratio (HSBC Points : Partner)
	30,000 : 10,000
	25,000 : 5,000
	25,000 : 10,000
	25,000 : 10,000

The crucial thing to know here is that not all partners share the same transfer ratio. Therefore, the effective earn rate and size of the welcome/renewal offer depends on the partner you choose.

For example, the HSBC TravelOne Card’s renewal offer of 30,000 HSBC points is equivalent to 12,000 miles only if you choose a partner with a 25,000 points = 10,000 miles transfer ratio, like British Airways Executive Club or EVA Air Infinity MileageLands. If you choose KrisFlyer, where the ratio is 30,000 points = 10,000 miles (devalued in early January 2025), then you receive 10,000 miles instead. 

Likewise, the HSBC TravelOne Card’s advertised earn rates of 1.2/2.4 mpd also assume a transfer partner with a 25,000 points = 10,000 miles transfer ratio. Otherwise, it can go as low as 0.6/1.2 mpd on the other end of the spectrum, if you pick a partner with a 50,000 points = 10,000 miles transfer ratio.

All conversions must be done via the HSBC Singapore app (Android | iOS) and are processed instantly, with the exception of the following:

• Hainan Fortune Wings Club: Within 5 business days
• Japan Airlines Mileage Bank: Within 10 business days

Transfers are free of charge until further notice, and HSBC points are pooled across cards. 

While the minimum transfer block is 10,000 miles/points (Accor: 5,000 points), the subsequent block is just 2 miles (Accor: 1 point). In other words, you could choose to transfer 10,002 miles or 20,958 miles, which helps you avoid orphan points. 

Conclusion

From 2026, HSBC TravelOne Cardholders who pay the S$196.20 annual fee in the second and subsequent years will receive 30,000 HSBC points, a 20% increase from the previous 25,000 HSBC points. 

This is worth up to 12,000 miles, giving the TravelOne a clear edge over competing cards, which offer just 10,000 miles for the same annual fee. However, the 12,000 mile value does not apply to KrisFlyer, where the poorer conversion ratio of 3 points = 1 mile yields only 10,000 miles.

That said, Flying Blue, Asia Miles and EVA Air Infinity MileageLands are all solid alternatives, and you shouldn’t be using the TravelOne (or HSBC cards for that matter) if KrisFlyer miles are the only goal.