HSBC launches Singapore’s first travel-themed credit card in partnership with Mastercard and powered by Ascenda.
HSBC TravelOne credit card comes with instant reward redemption of airline miles and hotel points from its mobile banking app. It is tailored for travel enthusiasts who want greater flexibility, convenience and incentives.
HSBC is the first in Singapore to offer customers the convenience of instantly redeeming their card reward points for a wide range of airline miles and hotel stays via their mobile.
With the HSBC TravelOne Credit Card, power is placed in the hands of travellers as offers on countless choices across national and international airlines and hotels are unlocked while allowing cardholders to instantly redeem rewards via mobile banking. Cardholders will be able to travel conveniently, with complimentary international airport lounge visits annually, hotel booking discount privileges and complimentary travel insurance up to USD100k. Further, cardholders can be assured of flexible payment instalment plans, split across multiple purchases.
Deborah Heng, Country Manager, Singapore, Mastercard, said, “With travel demand recovering strongly and continuing to grow, Mastercard is proud to partner with HSBC to introduce the HSBC TravelOne credit card which is set to revolutionise travel with exclusive benefits and digital features for cardholders that cater to their travel preferences and needs.
Parul Anand, Head of Asia Cards- HSBC at the Launch of HSBC Travel Credit Card
Cardholders can instantly redeem their rewards wherever and whenever they choose, enjoy easy access to airport lounges enabled by the Mastercard Travel Pass and have the option of flexible payments, all while being ensured secure transactions anywhere, anytime. The HSBC TravelOne credit card is set to provide unprecedented frictionless and safe travel experiences for cardholders in Singapore.”
Key features of the HSBC TravelOne Credit Card include:
- The HSBC TravelOne Credit Card will bring together more than 20 international airline programmes and three global hotel chain partners on a single credit card platform by the end of 2023.
- At launch, there are –Nine participating international airline programmes: Air France – KLM Flying Blue; AirAsia rewards; British Airways Executive Club; Cathay Pacific Asia Miles; Etihad Guest; EVA Air Infinity MileageLands; Qantas Frequent Flyer; Singapore Airlines KrisFlyer; Vietnam Airlines Lotusmiles.
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Three participating global hotel partners: ALL-Accor Live Limitless; IHG One Rewards; Marriott Bonvoy.
- The primary cardholder is entitled to 4 complimentary visits per year to over 1,300 airport lounges around the world.
- Complimentary travel insurance coverage (including COVID-19) of up to USD100,000 for you and your family.
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Earn accelerated points: Earn 1.2 miles per SGD 1 charged on purchases in Singapore; earn 2.4 miles per SGD1 charged on purchases overseas.
HSBC TravelOne Credit Card Reward Points Programme T&Cs apply. Visit www.hsbc.com.sg/travelone for more details
Ashmita Acharya, Head of Wealth and Personal Banking, at HSBC Singapore, said,
“We are seeing a resurgence in overseas travel by our customers from Singapore who, post-pandemic, are embracing the freedom to travel again. Credit cards continue to be valued by customers travelling internationally, and the HSBC TravelOne credit card allows customers to easily redeem travel rewards and manage their payments flexibly all from the convenience of the HSBC mobile banking app. Alongside products and services such as HSBC Global Money Transfers, we are delighted to provide our customers with more choice and convenience for their international transactions.”
According to the latest Mastercard Economics Institute report, daily outbound air travel bookings have consistently exceeded pre-pandemic averages since May 2022. The strong booking momentum suggests much more room for resident departures in 2023 as more flight capacity is brought back online and ticket prices cool. Total resident departures have recovered to 5.2 million in 2022 compared to 830,000 in 2021 and 1.5 million in 2020. The average spend per trip for 2022 was also similar to that of 2019. In 2022, travellers from Singapore said they will likely spend $3,468 on international travel over the year, similar to how much they spent in 2019 ($3,547 on average).
