Compare HSBC TravelOne Credit Card and SBI Card MILES ELITE on annual fee, rewards, fee waiver, lounge access, forex markup, best-fit use case and source evidence.
Compare exact issuer-backed terms and practical trade-offs without a universal winner badge.
Frequent travellers who value airline/hotel transfer partners, accelerated travel earn and a defined domestic/international lounge quota.
Travel-heavy users who can make practical use of the Travel Credits conversion ecosystem.
bankingreference.info · Comparison research sheet
Prepared 14 Sep 2026 · Source page: https://bankingreference.info/compare/hsbc-travelone-credit-card-vs-sbi-card-miles-elite/
General product research only. Recheck the listed first-party sources before acting because product terms can change after the recorded review dates.
Each checkpoint reproduces the recorded product fields instead of assigning a winner. Read the condition, scope and missing-data state before treating a difference as useful to you.
Source review: September 12, 2026
Maintenance: Within the scheduled review window
2 attached sources. A review date is not a guarantee that terms have stayed unchanged.
Source review: September 11, 2026
Maintenance: Within the scheduled review window
4 attached sources. A review date is not a guarantee that terms have stayed unchanged.
Full issuer-backed wording stays visible because a waiver condition, cap or qualification rule can matter more than the headline number.
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| Decision factor | HSBC TravelOne Credit Card | SBI Card MILES ELITE |
|---|---|---|
| Joining fee | ₹4,999 under the current HSBC product page. | ₹4,999 + applicable taxes under current SBI Card MITC |
| Annual fee | ₹4,999; free when annual spend exceeds ₹8 lakh under the current HSBC product page. | ₹4,999 + applicable taxes under current SBI Card MITC |
| Fee waiver | Annual fee is waived when spend exceeds ₹8 lakh per year under the current HSBC product page. | Renewal fee waived on annual spends of ₹15 lakh or more in the preceding year under current SBI Card MITC. |
| Rewards | 4 reward points per ₹100 on flights, travel aggregators and foreign-currency spend; 2 reward points per ₹100 on other eligible spend with no stated base cap; 10,000 bonus points after annual spend above ₹12 lakh. Reward points can be converted to listed airline/hotel partners in-app. | Reviewed SBI listing states 6 Travel Credits per ₹200 on travel and milestone Travel Credits |
| Lounge | 6 local/domestic and 4 international airport-lounge visits per year under the current product page. | Current SBI Card MILES ELITE materials provide 8 domestic lounge visits per year (2 per quarter) and 6 international Priority Pass visits per year, with additional spend-linked domestic lounge voucher mechanics in the product terms. |
| Forex markup | The reviewed public TravelOne product-page text does not state one standalone forex-markup percentage; accelerated points on foreign-currency spend are a reward rule, not a fee waiver. Verify the current MITC/KFS before international use. | 1.99% foreign-currency transaction fee and 1.99% DCC fee for MILES ELITE under current SBI Card MITC. |
| Network | Mastercard World under the current HSBC TravelOne proposition. | Mastercard / RuPay were launched for SBI Card MILES ELITE; the issued network should be confirmed at application/issuance. |
| Eligibility / approval | Subject to HSBC's current resident/city/income eligibility and credit approval at application time. | Subject to SBI Card approval |
These cautions remain attached to the underlying card records instead of being converted into a score.
These tools are arithmetic aids only. They do not predict approval, issuer offers or future benefits.
Each side keeps its own review date, source set and evidence state.
Checked: Joining fee · Annual fee · Fee waiver · Rewards · Lounge · Forex · +2 more
Open primary issuer source ↗Checked: Joining fee · Annual fee · Fee waiver · Rewards · Lounge · Forex · +2 more
Open primary issuer source ↗These are the exact source URLs already attached to the two research records. Re-open the controlling documents before relying on a fee, rate, limit, eligibility rule or benefit.
Reviewed September 12, 2026 · 2 attached first-party sources
Reviewed September 11, 2026 · 4 attached first-party sources