Extended: HSBC TravelOne Card 20,000 miles welcome offer

Back in May 2023, HSBC launched the TravelOne Card, which brought with it 12 airline and hotel partners (since increased to 20), fee-free instant conversions, four lounge visits per year and a welcome offer of 20,000 bonus miles.

The welcome offer was was originally supposed to lapse on 31 August 2023, but was later extended till 31 December 2023, albeit with a 25% increase in the minimum spending requirement.

The offer has now been extended further till 30 June 2024, and as before, is open to both new and existing HSBC cardholders. However, with the uncertainty surrounding the TravelOne’s proposed new conversion fee, it’s understandable if you’re hesitant to jump onboard.

HSBC TravelOne Card 20,000 miles welcome offer

Apply

Applicants for the HSBC TravelOne Card can choose from two different offers when they apply:

Fee-paying option

From 1 September 2023 to 30 June 2024, customers who apply for a HSBC TravelOne Card will receive 20,000 bonus miles (in the form of 50,000 HSBC points) when they:

This offer is open to all applicants, regardless of whether or not they currently hold a HSBC credit card. However, if they have cancelled a HSBC TravelOne Card in the past 12 months, they will not be eligible to receive the welcome offer again.

The bonus miles are on top of the base miles that TravelOne Cardholders normally earn, namely:

For example, if you spend the full S$1,000 in local currency, you’ll receive a total of 21,200 miles (20,000 bonus, 1,200 base).

Since the S$196.20 annual fee must be paid, you’re basically paying 0.98 cents per mile.

Fee waiver option

As an alternative, applicants can choose to receive a first year fee waiver for the HSBC TravelOne Card. If this option is chosen, they will not be eligible for the 20,000 miles welcome gift.

However, they’ll still receive the usual card benefits including four lounge visits per calendar year. Remember, your first membership year will straddle two calendar years, so that’s actually eight free visits at no charge to you.

If this is your plan, I’d recommend applying towards the middle of the year so you’re not so rushed to redeem the second calendar year’s visits. For example: