HSBC TravelOne vs Amex Platinum Travel (2026)
The answer flips at ₹1.25L a month: Amex Platinum Travel below it, HSBC TravelOne above.
Head to head
| HSBC TravelOne | Metric | Amex Platinum Travel |
|---|---|---|
| #22 — wins this row | Our rank | #24 |
| ₹4,999/yr — wins this row | Fee — joining · annual (+ GST) | ₹5,000/yr |
| ₹8,00,000 spend | Fee waiver | None |
| 3.5% + GST | Forex markup | 3.5% + GST |
| 3.75%/mo (45%/yr), computed from transaction date | APR | 3.5%/mo (42%/yr); 3.99%/mo (47.88%/yr) in cases of default |
| 2.0% — wins this row | Headline earn rate | 1.0% |
| HSBC Reward Points | Currency | Amex Membership Rewards |
| ₹1.00/pt | House value | ₹0.50/pt |
| ₹1,000 cashback + ₹3,000 Postcard voucher + 3-mo EazyDiner Prime on ₹25k in 30 days | Welcome benefit | 10,000 MR points on ₹15k spend in 90 days |
| 72 of 789 — wins this row | Lounge doors opened | 21 of 789 |
| ₹6L+/yr; age 18–65 | Income — salaried | ₹6L+/yr (community) |
| ₹12L+/yr; age 25–65 | Income — self-employed | ₹6L+/yr (community) |
Gold marks the better side of a row. House value is our ₹-per-point mark for each card's currency — the full valuation index →
Ranking-value face-off
Everyday spend at each card's base rate plus a realistic ~20% at its best accelerator (less for narrow or capped boosters) — milestones, fee waivers and the redemption haircut all at our house ₹/point. That's why the biggest headline rate doesn't automatically win. This is the ranking model, the one that orders the board; each card page prints the earn-rate-only net annual value instead, which reads lower for any card with an accelerator (both models, side by side). Tune it to your own spend in the calculator.
Amex Platinum Travel wins under ₹1.25L/month; HSBC TravelOne takes over above it.
Where the lead changes hands
The lead changes hands at ₹1.25L a month: Amex Platinum Travel is ahead by ₹149 at ₹0.25L, HSBC TravelOne by ₹57,000 at ₹5L.
HSBC TravelOne runs a 4.0% booster on Flights, travel portals & forex, where Amex Platinum Travel earns one flat rate.
HSBC TravelOne draws above the line, Amex Platinum Travel below · ₹0.25L to ₹5L a month, step by step
| Monthly spend | HSBC TravelOne | Amex Platinum Travel | In front |
|---|---|---|---|
| ₹0.25L | ₹1,601 | ₹1,750 | Amex Platinum Travel by ₹149 |
| ₹0.5L | ₹8,201 | ₹9,750 | Amex Platinum Travel by ₹1,549 |
| ₹0.75L | ₹19,800 | ₹34,000 | Amex Platinum Travel by ₹14,200 |
| ₹1L | ₹36,400 | ₹37,000 | Amex Platinum Travel by ₹600 |
| ₹1.25L | ₹43,000 | ₹40,000 | HSBC TravelOne by ₹3,000 |
| ₹1.5L | ₹49,600 | ₹43,000 | HSBC TravelOne by ₹6,600 |
| ₹1.75L | ₹56,200 | ₹46,000 | HSBC TravelOne by ₹10,200 |
| ₹2L | ₹62,800 | ₹49,000 | HSBC TravelOne by ₹13,800 |
| ₹2.25L | ₹69,400 | ₹52,000 | HSBC TravelOne by ₹17,400 |
| ₹2.5L | ₹76,000 | ₹55,000 | HSBC TravelOne by ₹21,000 |
| ₹2.75L | ₹82,600 | ₹58,000 | HSBC TravelOne by ₹24,600 |
| ₹3L | ₹89,200 | ₹61,000 | HSBC TravelOne by ₹28,200 |
| ₹3.25L | ₹95,800 | ₹64,000 | HSBC TravelOne by ₹31,800 |
| ₹3.5L | ₹1,02,400 | ₹67,000 | HSBC TravelOne by ₹35,400 |
| ₹3.75L | ₹1,09,000 | ₹70,000 | HSBC TravelOne by ₹39,000 |
| ₹4L | ₹1,15,600 | ₹73,000 | HSBC TravelOne by ₹42,600 |
| ₹4.25L | ₹1,22,200 | ₹76,000 | HSBC TravelOne by ₹46,200 |
| ₹4.5L | ₹1,28,800 | ₹79,000 | HSBC TravelOne by ₹49,800 |
| ₹4.75L | ₹1,35,400 | ₹82,000 | HSBC TravelOne by ₹53,400 |
| ₹5L | ₹1,42,000 | ₹85,000 | HSBC TravelOne by ₹57,000 |
Transfer reach
Both reach
- Singapore Airlines KrisFlyer 1:1 vs 2:1
- Qatar Airways Privilege Club (Avios) 1:1 vs 2:1
- The British Airways Club (Avios) 1:1 vs 2:1
Only HSBC TravelOne
- Air France-KLM Flying Blue
- Air India Maharaja Club
- ALL - Accor Live Limitless
Only Amex Platinum Travel
- Emirates Skywards
- Cathay Asia Miles
- Hilton Honors
Full route maps on each card page, best ₹/point routes on the optimizer →
What to watch out for
HSBC TravelOne · 4 more →
- Fee waived only at ₹8L annual spend; forex back to 3.5% since Jul-2026 (promo over)
- Base earn is a modest 2X outside travel/forex
- HSBC's eligibility and branch footprint are narrow
Amex Platinum Travel · 6 more →
- PAUSED for new applications — Amex India's own page gives this card a "Compare Card" button and no Apply Now, and prints "American Express is accepting applications for select Cards" where the CTA belongs (re-checked 9-Aug-2026). Existing cardmembers are unaffected.
- Announced 10 Aug 2026 and not yet in any Amex document: from 10 Sept 2026 the ₹1.9 lakh milestone disappears and the ₹7 lakh rung swaps its 22,500 MR for a ₹20,000 Taj card, and from 1 Oct 2026 the domestic lounge visits need ₹1 lakh of spend in the preceding quarter. The milestones and lounge count on this page are what Amex publishes and what you get until those dates.
- Mar-2026 revision moved the Taj voucher from ₹4L to ₹7L spend
The call
For the ₹1L/month spender, Amex Platinum Travel nets ₹37,000 against ₹36,400 — a ₹600 gap. At ₹5L/month, HSBC TravelOne nets ₹1,42,000 against ₹85,000 — a ₹57,000 gap. Lounge chasers: HSBC TravelOne opens 72 of 789 tracked doors to Amex Platinum Travel's 21.
Our standing verdicts: HSBC TravelOne — Keep; Amex Platinum Travel — Keep. On our board, HSBC TravelOne sits at #22 to Amex Platinum Travel's #24 — that's the overall call. Your spend pattern can overrule us: run your exact numbers →
Straight answers
Which is better, HSBC TravelOne or Amex Platinum Travel?
HSBC TravelOne. It sits at #22 on our board to Amex Platinum Travel's #24. HSBC TravelOne takes 6 of the 7 rounds we can score. Amex Platinum Travel wins under ₹1.25L/month; HSBC TravelOne takes over above it.
HSBC TravelOne or Amex Platinum Travel — which earns more at ₹3L a month?
At ₹3L a month, HSBC TravelOne nets ₹89,200 against ₹61,000 — a ₹28,200 gap. Those are ranking-value figures: everyday spend at the card's base rate plus a realistic slice at its best accelerator, net of the fee.
Which costs less to hold, HSBC TravelOne or Amex Platinum Travel?
HSBC TravelOne — ₹4,999/yr against ₹5,000/yr. HSBC TravelOne waives its fee at ₹8,00,000 of spend; Amex Platinum Travel at no spend level — there is no waiver.
Which gets you into more airport lounges, HSBC TravelOne or Amex Platinum Travel?
Lounge chasers: HSBC TravelOne opens 72 of 789 tracked doors to Amex Platinum Travel's 21. Visit quotas, guest charges and spend gates are per card — the lounge map carries each one.
How current is this comparison?
Card records last re-verified against their issuers' own documents: HSBC TravelOne on 2026-08-15, Amex Platinum Travel on 2026-08-10. Every figure on this page — the ranking values, the fee rows, the lounge counts, the transfer ratios — is recomputed from those records each time the site builds, so a devaluation changes the call the day we log it.