How does the travel rewards program work for the HSBC Travelone credit card

Credit Cards HSBC
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Do I earn miles or points on flight bookings and how can I redeem those

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for every 100 rs spent on flights and foreign currency transactions you will get 4 points and on other expenses you will get 2 points.

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HSBC Tavelone rewards-
You can earn 4 reward points for every INR 100 spent on flights, travel aggregators and in foreign currency.
Earn 2 reward points for every ₹100 spent on other purchases.
Earn 10,000 bonus reward points when you spend more than INR1,200,000 a year.

To redeem HSBC credit card reward points in India, you can either use the HSBC India mobile app or the rewards portal on the bank’s website. Alternatively, you redeem points through the IVR system or by speaking with a banker.

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When I looked into the HSBC TravelOne card, this is how its travel rewards program functions:

1. Earning Reward Points

For travel-related spends (flights, travel aggregators) or spending in foreign currency, you get a higher rate of reward points. For example, 4 points for every ₹100 spent in these categories.

For other kinds of spending (“everyday spends” like groceries, non-travel retail), you earn a base rate of 2 points per ₹100.

There is a cap on how many accelerated points you can earn per month in the travel/foreign spend categories. Specifically, I saw a cap of 50,000 reward points/month on accelerated categories. Once you exceed that cap, you probably revert to the base points on further travel/foreign spends.

2. Welcome & Milestone Bonuses

There are welcome benefits when you first sign up: for example, spend a certain amount (₹10,000) in the first 30 days to get some cashback or vouchers, etc.

Also, there’s a milestone bonus: spend a large amount over the year (≈ ₹1,200,000) to earn extra bonus reward points.

3. Redemption / What You Can Do with Points

You can redeem points for airline miles with partner airlines. Points transfer to several frequent flyer programs.

You can also use reward points for hotel loyalty programs.

Apart from travel (flights, hotels), you can redeem points for vouchers, merchandise, gift cards, through HSBC’s Rewards Marketplace or app.

4. Using the HSBC App / Process

All of this (earning, viewing points, redeeming, converting to miles or hotel programs) is managed via the HSBC India Mobile Banking app.

You’ll need to enroll/enter your partner loyalty program membership number when you transfer points. Transfers can happen instantly or within 1-5 working days depending on the partner.

Things to watch out for / what helps maximize value

From what I gather, here are things that make a big difference:

• Make most of your spending in the accelerated categories (travel / foreign currency) to get the higher points. Else, you’ll only get the base rate.

• Be aware of the cap (50,000 accelerated points/month). If you’re spending heavily, that cap limits how much you can benefit from the higher rate.

• The airline/hotel transfer partners and the transfer ratio matter. For example, some partners convert 1:1, others might have less favourable ratios. Always check which partner gives you the most value for your points.

• Also check the expiry of points, fees, foreign-exchange markup (if applicable), etc., because those can reduce net value when traveling.

Here’s the official HSBC India link with full details of the TravelOne rewards: