The HSBC Travel One card pays 1.2 miles per dollar in Singapore and 2.4 miles per dollar on foreign spend, charges a S$196.20 annual fee, and asks citizens and PRs for S$30,000 a year only if they already keep S$50,000 with HSBC, S$65,000 otherwise. Its real edge is the back end: 20 airline and hotel partners, the widest of any Singapore bank, with transfers that are instant and free. That free transfer is the whole story. Most rival cards charge S$27 every time you move points, so a card that moves them for nothing changes the maths on every redemption. The catch is the headline 2.4 miles per dollar only lands at the best partners, and KrisFlyer is not one of them. Here is the verified 2026 picture so you can see whether this card belongs on your wallet.
Update, 14 October 2026: the S$30,000 income bar for citizens and PRs applies only to existing HSBC customers with at least S$50,000 with the bank; new HSBC customers need S$65,000. Most reviews bury the figures under airport photos. Here is the whole card in one table, current as of October 2026, cross-checked against HSBC's own product page and the two most detailed Singapore miles reviews.
| Item | Detail |
|---|---|
| Annual fee | S$196.20 (incl. GST); waived from year two on S$25,000 annual spend |
| Renewal bonus | Up to 12,000 miles (30,000 points) when you pay the year-two fee, from 2026 |
| Income (citizen / PR) | S$30,000 a year with S$50,000+ at HSBC, otherwise S$65,000 |
| Income (foreigner) | S$65,000 per year |
| Minimum age | 21 years old |
| Local earn rate | 1.2 miles per S$1 (3 Reward points) |
| Foreign earn rate | 2.4 miles per S$1 (6 Reward points) |
| Transfer partners | 20 airline and hotel programmes, the most of any SG bank |
| Transfer fee | S$0 - transfers are free |
| First transfer block | 10,000 miles minimum, then increments as small as a few miles |
| Points expiry | 37 months, counted from the month after each point is awarded |
| Foreign currency fee | 3.25% (2.25% HSBC plus up to 1% Visa or Mastercard) |
| Lounge access | 4 complimentary visits per calendar year (Mastercard Travel Pass) |
| Travel insurance | Up to S$150,000 overseas medical when you charge the full air fare |
A mile is worth roughly 1 to 2 cents depending on how you spend it, so 1.2 miles per dollar locally works out to about 1.2 to 2.4 cents of value per dollar. That is mid-pack. The newer entry cards now match or beat it on local spend, so the local rate is not the reason to take this card.
Foreign spend is where the rate gets interesting. At 2.4 miles per dollar on transactions in a foreign currency, an overseas holiday or a year of USD subscriptions builds a balance quickly. The drag is the 3.25% foreign currency fee, which clips that overseas premium. If your travel spend already runs through a multi-currency wallet, you sidestep that fee entirely and only put the big-ticket bookings on the card. See our comparison of the best miles cards in Singapore for how 2.4 miles per dollar stacks up against rivals.
One honest caveat the marketing skips: those rates are stated as Reward points first, miles second. You earn 3 points per dollar locally and 6 overseas, and the points-to-miles conversion is what produces 1.2 and 2.4. The conversion holds at the best partners, but a worse partner shrinks the real rate, which we get to next.
HSBC Travel One transfers to 20 airline and hotel programmes, the widest list any Singapore bank offers. The roster covers Singapore Airlines KrisFlyer, Cathay Asia Miles, British Airways Avios, EVA Air Infinity MileageLands, Qatar Privilege Club, Turkish Airlines Miles&Smiles, Marriott Bonvoy and IHG One Rewards, among others.
The feature that matters is the price of moving points: nothing. Transfers are free and instant. To see why that is a big deal, look at a card like the Citi PremierMiles, which charges S$27.25 each time you transfer to a programme. Over a few years and several redemptions, free transfers quietly save more than the annual fee. The first transfer to any programme needs a 10,000-mile block, after which you can top up in tiny increments, so you are not forced to hoard.
The asterisk is the conversion ratio. The best partners convert at 25,000 points to 10,000 miles, which is what produces the headline rates. KrisFlyer sits worse at 30,000 points to 10,000 miles after a January 2025 devaluation, and a few partners are worse still. So this is not the card to use if Singapore Airlines is your only goal. If KrisFlyer redemptions are your endgame, read how to redeem KrisFlyer miles for SIA award flights before you commit points here.
Update, 14 October 2026: the 36,000-mile welcome offer has ended. For cards applied for from 1 July to 31 October 2026 and approved by 14 November 2026, new cardholders get up to 20,000 miles (50,000 Reward points) plus a Samsonite ZELTUS 69cm spinner worth S$680, and existing HSBC cardholders up to 10,000 miles (25,000 points) plus the same case. You need S$1,000 of spend by the end of the month after your card account opens, and you pay the S$196.20 first-year fee. A new cardholder is someone with no principal HSBC credit card who has not cancelled one in the last 12 months. Always read the live terms on HSBC's page, because the spend thresholds and the bonus ceiling shift between promotion windows.
Run the maths on the new-cardholder offer. Twenty thousand miles for a S$196.20 fee values those bonus miles at under 1 cent each before you count the luggage, which is good value given most people redeem miles for 1 to 2 cents. The bonus, not the everyday earn rate, is the strongest reason to apply now.
From 2026 the renewal side improved too. Pay the year-two annual fee and you receive up to 12,000 miles (30,000 points), up from the old 25,000-point award. That reframes the fee: S$196.20 for up to 12,000 miles values them under 1.7 cents each, so paying the fee usually beats waiving it if you will actually use the miles. Treat the fee like a subscription and only keep it if the renewal bonus plus your spend returns more than S$196 a year.
On the ground the card gives principal holders 4 complimentary airport lounge visits per calendar year through Mastercard Travel Pass, run by DragonPass, with access to over 1,300 lounges. HSBC charges US$32 a person per visit for supplementary cardholders and for any visit beyond the four free ones.
Charge your full air fare to the card and you get complimentary travel insurance with up to S$150,000 of overseas medical cover, alongside evacuation and accidental-death cover. That is a genuine saving on a short trip where you might otherwise buy a standalone policy, though it does not replace a proper plan for longer or higher-risk travel. Our guide to credit cards with complimentary travel insurance shows where this sits against rivals.
Two details to file away. Reward points expire 37 months after the month they are awarded, so this is not a card for someone who accumulates a handful of points a year and forgets about them. And the supplementary cards are free for life, which makes household spend easy to pool onto one points balance. If you are weighing whether a S$196 annual-fee card pays off at your spend level, our personal budget calculator helps you see the real picture before you apply.
The Travel One fits a clear profile: someone who spends across many programmes, redeems with a few different airlines, and hates paying transfer fees. The free transfers and the 20-partner spread make it the most flexible miles card in the market, and existing HSBC customers with S$50,000 at the bank qualify on S$30,000 of income. The welcome and renewal bonuses do most of the heavy lifting on value.
It is a weaker fit if you are a KrisFlyer loyalist, because the conversion ratio there is below par and the local earn rate is ordinary. It is also weaker if your spend is mostly local and small, since the foreign rate is the standout and the points clock runs out in three years. Pair it with a multi-currency wallet to dodge the 3.25% foreign currency fee, and the card becomes a tidy flexible-miles engine rather than a KrisFlyer specialist.
Salaried Singapore citizens and PRs need S$30,000 a year if they are existing HSBC customers with at least S$50,000 in total relationship balance, and S$65,000 otherwise, which includes every new HSBC customer. Self-employed citizens and PRs need S$40,000 with that S$50,000 balance. Foreigners need S$65,000, and applicants must be at least 21.
You earn 1.2 miles per S$1 on local spend (3 Reward points) and 2.4 miles per S$1 on foreign currency spend (6 Reward points), as of October 2026. Those headline rates apply when you transfer to the best partners; weaker conversion ratios, including KrisFlyer, reduce the real rate.
Yes. Transfers to all 20 airline and hotel partners are free and instant, with no redemption fee charged by HSBC. The first transfer to any programme requires a 10,000-mile block, after which you can transfer in much smaller increments. Free transfers are the card's biggest advantage over rivals that charge per transfer.
In year one, paying the S$196.20 fee unlocks a welcome bonus of up to 20,000 miles plus a Samsonite case worth S$680 for new cardholders who apply by 31 October 2026, which values the miles at under 1 cent each. At renewal from 2026, paying the fee earns up to 12,000 miles, worth it only if you value those miles above roughly 1.7 cents each.
This is general financial information for Singapore, not personal financial advice. Figures change, so verify current rates against the official sources above before acting. See our full disclaimer.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).