HSBC TravelOne Card launches 30,000 miles sign-up bonus

The HSBC TravelOne Card has launched a new welcome offer worth up to 30,000 bonus miles, open to customers who apply by 31 December 2026 and spend at least S$1,000 by the end of the month following approval. 

This is 10,000 miles more than the previous offer, though the Samsonite ZELTUS luggage has also been removed. As before, the first year’s S$196.20 annual fee must be paid. 

While it’s not a great card for earning KrisFlyer miles — following a devaluation to the KrisFlyer conversion rate in January 2025, the bonus would only be worth 25,000 miles — the HSBC TravelOne Card still offers very strong first-year value.

Cardholders receive four airport lounge visits per calendar year (which allows for eight utilisations in the first membership year), enjoy instant points conversions with no administrative fees, and have access to the widest range of transfer partners in Singapore.

Details: HSBC TravelOne Card sign-up bonus

Apply

Customers who apply for a HSBC TravelOne Card from 1 November to 31 December 2026 will be eligible for one of the following welcome offers:

All applicants must:

• Spend at least S$1,000 by the end of the month following approval
• 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 offer 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 (FCY) spend.

For example, a new HSBC cardholder who spends the full S$1,000 in local currency will receive a total of 31,200 miles (30,000 bonus, 1,200 base).

If you close the card within 12 months of opening it, HSBC has the right to recover the equivalent value of the gift. 

Who is eligible?

New and existing HSBC cardholders are defined as follows: 

• New HSBC cardholders: Customers who do not hold any existing principal HSBC credit card, and have not cancelled a principal HSBC credit card in the past 12 months
• Existing HSBC cardholders: Customers whose most recent principal HSBC credit card was issued more than 12 months ago, and have not cancelled a principal HSBC credit card within the past 12 months

While other banks define an existing cardholder as anyone who doesn’t meet the new cardholder definition, HSBC does things a little differently.

To meet the “existing cardholder” definition, at least 12 months must have passed since your last principal HSBC credit card was approved, and you must not have cancelled any principal HSBC credit card in the past 12 months.

For example:

• John has a HSBC Revolution Card approved six months ago. He will not be eligible for the HSBC TravelOne Card’s existing cardholder welcome offer
• Jack has a HSBC Revolution Card approved >12 months ago, and a HSBC Live+ Card approved >12 months ago. Last month, he cancelled his HSBC Live+ Card. He will not be eligible for the HSBC TravelOne Card’s existing cardholder welcome offer either

Therefore, when it comes to HSBC, it’s possible that you’re neither new nor existing — a situation we call “applicant limbo”.

Is it worth it?

Since the welcome offer requires payment of the S$196.20 annual fee, applicants are effectively buying miles at the following rates:

• New HSBC cardholders: 0.65 cents per mile
• Existing HSBC cardholders: 0.98 cents per mile

It’s a pretty competitive price to be paying for miles, especially when you factor in the value of the airport lounge visits — and remember, you can use up to eight in your first membership year, since the allocation is based on calendar year.

For context, here’s how this offer compares to the other HSBC TravelOne Card welcome offers we’ve seen over the past few years.

What counts as qualifying spend?

Cardholders must make a minimum qualifying spend of S$1,000 by the end of the month following card approval.

This means that you have anywhere from 1-2 months to meet the minimum spend, depending on when your card is approved. If you have concerns about meeting the minimum spend, try to get approved early in the month so you have more time. 

Qualifying spend includes all online and offline retail transactions, excluding those found in clause 3.5 of the T&Cs. The key exclusions are:

• AXS payments
• CardUp, ipaymy, Points.com and other merchants under MCC 7399
• Australia ETA, ShopBack vouchers, and other merchants under MCC 7299
• Gambling-related transactions
• Prepaid account top-ups (e.g. GrabPay, YouTrip)

While charitable donations, education, government services, hospitals, insurance premiums and utilities are notably absent from this list, they are mentioned under HSBC’s general rewards exclusions. 

In any case, I have confirmed with the HSBC team that they also will not count towards qualifying spend, so don’t risk it.

When will welcome gifts be awarded?

Welcome gifts will be awarded within 120 days from the card account opening date.

Terms & Conditions

The terms & conditions of this welcome offer can be found here.

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
	12,500 : 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 offer depend on the partner you choose.

For example, the HSBC TravelOne Card’s welcome offer for new cardholders is 75,000 HSBC points. That’s equivalent to 30,000 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, then the new cardholder welcome offer is equivalent to 25,000 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. 

Other card benefits

Four complimentary airport lounge visits

Lounge Benefit T&Cs

Principal HSBC TravelOne Cardholders enjoy four complimentary airport lounge visits per year, provided via DragonPass. These visits can be shared with a guest, so if you visit with one guest you’ll have two visits deducted from your balance.

Allowances are awarded by calendar year, which allows you to use eight visits in your first membership year. For example, if your card is approved in November 2026, you will be awarded:

• On date of approval: 4x visits (expires 31 December 2026)
• On 1 January 2027: 4x visits (expires 31 December 2027)

Allowances cannot be rolled over to the following year, so be sure to fully utilise your visits by the end of the calendar year. For the avoidance of doubt, using the second calendar year’s allotment does not preclude you from cancelling the card at the end of the first membership year, if that’s what you wish to do.

Here’s how to start enjoying the benefit:

Complimentary travel insurance

HSBC TravelOne Cardholders receive complimentary travel insurance when they:

• Use their TravelOne Card to purchase air tickets, or
• Use their TravelOne Card to pay for the taxes and surcharges on a ticket redeemed with airline miles

This provides coverage of S$75,000 for accidental death, S$150,000 for overseas medical expenses, S$1 million for emergency medical evacuation, as well as coverage for travel inconveniences like flight delays and lost luggage.

Do note that there is no coverage for personal liability or rental vehicle excess, so you may need to purchase supplementary coverage if this is important to you.

12,000 renewal miles

HSBC TravelOne Cardholders will receive 30,000 HSBC points (worth up to 12,000 miles) when they pay the second and subsequent years’ S$196.20 annual fee. This was recently enhanced from the previous figure of 25,000 HSBC points. 

Cardholders will enjoy an annual fee waiver if they spend at least S$25,000 in the previous membership year. If the annual fee is waived, no renewal miles will be granted.

Conclusion

Apply

The HSBC TravelOne Card’s new welcome offer gives new cardholders 30,000 miles for S$196.20, which works out to 0.65 cents per mile. That’s a very good price, even if it doesn’t quite match the 33,600 miles that HSBC offered from April 2025 to June 2026.

For existing cardholders, the offer is 20,000 miles for S$196.20, or 0.98 cents per mile. That’s not nearly as good, but the ability to squeeze up to eight lounge visits into the first membership year goes a long way.

Once again, this is not an ideal card for KrisFlyer loyalists, because their bonus shrinks to 25,000 miles (new) or 16,667 miles (existing). 

When applying, don’t forget to provide marketing consent, and check that a recent approval or cancellation has not left you in “applicant limbo”. Also, getting approved early in the month offers the longest possible window to meet the S$1,000 minimum spend.