Standard Chartered Ultimate vs HSBC TravelOne (2026)
A guaranteed ₹1 per point vs a transferable maybe — certainty against upside at the same ₹5,000.
Head to head
| Metric | Standard Chartered Ultimate | HSBC TravelOne |
|---|---|---|
| Our rank | #15 | #14 |
| Annual fee | ₹5,000 + GST | ₹4,999 + GST |
| Fee waiver | None | ₹8,00,000 spend |
| Forex markup | 2% + GST (Ultimate-specific; 3.5% on other SC cards) | 3.5% + GST |
| APR | 3.75%/mo (45%/yr APR), same rate on cash advances | 3.75%/mo (45%/yr), computed from transaction date |
| Effective reward rate | 3.3% | 2.0% |
| Currency | StanC 360° Reward Points | HSBC Reward Points |
| House value | ₹1.00/pt | ₹1.00/pt |
| Welcome benefit | 6,000 reward points (₹6,000) on fee payment | ₹1,000 cashback + ₹3,000 Postcard voucher + 3-mo EazyDiner Prime on ₹25k in 30 days |
| Lounge doors opened | 583 of 644 | 73 of 644 |
| Income — salaried | ~₹2L+/month (community) | ₹6L+/yr; age 18–65 |
| Income — self-employed | not published | ₹12L+/yr; age 25–65 |
Gold marks the better side of a row. House value is our ₹-per-point mark for each card's currency — the full valuation index →
Net annual 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. Tune it to your own spend in the calculator.
It swings with spend: HSBC TravelOne at ₹1L/month, Standard Chartered Ultimate at ₹3L/month, Standard Chartered Ultimate at ₹5L/month.
Transfer reach
Only HSBC TravelOne
- Singapore Airlines KrisFlyer
- British Airways Executive Club (Avios)
- Qatar Airways Privilege Club (Avios)
Full route maps on each card page, best ₹/point routes on the optimizer →
The call
For the ₹1L/month spender, HSBC TravelOne nets ₹36,400 against ₹34,960 — a ₹1,440 gap. At ₹5L/month, Standard Chartered Ultimate nets ₹1,94,800 against ₹1,42,000 — a ₹52,800 gap. Lounge chasers: Standard Chartered Ultimate opens 583 of 644 tracked doors to HSBC TravelOne's 73.
Our standing verdicts: Standard Chartered Ultimate — Keep; HSBC TravelOne — Keep. On our board, HSBC TravelOne sits at #14 to Standard Chartered Ultimate's #15 — that's the overall call. Your spend pattern can overrule us: run your exact numbers →