HSBC TravelOne card review - Worth getting in Malaysia for the travel perks?

Getting an HSBC TravelOne credit card¹ can make it easy to earn rewards you can redeem as air miles with your favourite airlines, as well as unlocking extras like discounts on Agoda and curated Mastercard travel perks.

Not sure if this is the card for you? Join us as we explore, looking at the HSBC TravelOne card annual fee, interest and charges, as well as the benefits you can expect in return. We’ll also touch on an alternative for comparison and to help you decide - the Wise card, which is an international debit card for low cost spending and withdrawals in 150+ countries².

What is the HSBC TravelOne credit card?

The HSBC TravelOne card is a credit card which has a good range of benefits with a firm focus on travel and lifestyle perks. You can earn HSBC rewards³ which can be redeemed at variable rates against hotel and airline points, to pay for future trips - and you’ll also get a selection of benefits to make travel more enjoyable. Extras include airport lounge access, complimentary insurance, discounted golf fees, and benefits from both Mastercard and Mastercard’s partner merchants.

The HSBC TravelOne credit card is designed for people who love to travel, and comes with an annual fee of 300 MYR. Before you decide if this is the right match for your specific spending needs, it’s worth digging into the potential benefits and costs, and comparing the HSBC TravelOne credit card against a few alternatives.

This guide has you covered. First, a quick overview of the important features and fees you’ll need to know about⁴:

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HSBC TravelOne benefits

Getting your new credit card will mean you get access to a selection of HSBC TravelOne card benefits, in addition to the opportunity to earn rewards which you can redeem later for travel and other perks. Some of the extra benefits you’ll get with your HSBC travel card include:

• HSBC TravelOne card lounge access up to 6 times a year
• Discounts on travel booked with Agoda
• Curated benefits from Mastercard
• Travel benefits and discounts with Mastercard partner merchants in 25 countries
• Travel insurance up to 250,000 USD when you book tickets with your credit card
• Identity theft protection
• Ecommerce purchase protection up to 1,000 USD
• 50% off green fees for golfers
• 1% donation to HSBC’s partner charities, when you give to your own favourite charities

Earning HSBC Reward points

You can access HSBC TravelOne card benefits and rewards when you spend - the rate at which you get rewarded will depend on the type of purchase. Overseas spending in a foreign currency comes with a maximum of 8x reward points, with extra benefits when you spend on dining and arranging travel in MYR as well. Here’s an overview of the HSBC reward point earning rate by category:

Spending in a foreign currency with your HSBC credit card means you get more reward points - but it also means extra fees. When you spend abroad, your purchase is converted back to MYR using the network exchange rate which may include a fee. HSBC will then also add a 1% fee when calculating the MYR amount that ends up on your final bill.

It’s important to weigh this cost up against the extra earning opportunity when you travel - spending with a low cost debit card like the Wise card can help you avoid foreign transaction fees and cut the costs of your travel overall.

HSBC Reward points redemption

Once you have HSBC reward points you can redeem them against air miles and hotel stays - or donate them to a charity which plants trees to protect the environment.

The redemption rates for air miles can vary a lot - HSBC has 15+ partner airlines, and the rates of redemption vary from 12 HSBC miles to one air mile, to 60 HSBC miles to one air mile. Here are a couple of examples of your options:

• AirAsia - redeem 12 HSBC miles to one air mile
• Malaysia Airlines - redeem 21 HSBC miles to one air mile
• Singapore Airlines - redeem 25 HSBC miles to one air mile
• British Airways - redeem 30 HSBC miles to one air mile
• Qantas - redeem 35 HSBC miles to one air mile

You can also use your HSBC rewards to redeem hotel benefits with Marriott Bonvoy, Accor, IHG and Wyndham hotels. In this case, you’ll redeem your HSBC points against hotel points on a variable redemption rate, which you can then use under the hotel’s scheme to claim free accommodation and perks.

Remember to bring along the Wise card - To minimise conversion fees and maximise your travel experiences

Spend less time worrying about credit card fees, with the Wise card.

Use your Wise card to spend and make withdrawals in 150+ countries with the mid-market rate and no foreign transaction fee. Just add money in MYR and let the card’s autoconvert technology switch to the currency you need at the point of payment, with low fees from 0.43% - plus you can make 2 free ATM withdrawals of up to 1000 MYR a month at home or abroad, to cut out cash advance fees.

The Wise card is a debit card, so you’ll need to add money to your account in advance in order to use it - but there are no ongoing fees and no minimum balance requirements, so you can just use your card for easy international spending whenever you need it.

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Summary

HSBC’s TravelOne card is a good option for frequent travellers who can enjoy easy reward earning, airport lounge access and complimentary insurance. However, you’ll need to offset the benefits against the likely costs to see if it’s worthwhile for your specific needs. Compare your options against alternatives like the Wise card, a powerful international debit card which makes spending in foreign currencies cheap and easy, with no annual fee and no interest to pay.