You can score an impressive 33,600 miles sign-up bonus between now and 31st August with a new HSBC TravelOne card and a minimum spend of S$1,000 in the first month.
HSBC has extended the generous welcome offer for its TravelOne card, with up to 33,600 bonus miles available for applications submitted by 31st August 2025, a significant hike from the 24,000 miles offer earlier this year, provided you have S$1,000+ of spend to make in the first full calendar month of card approval.
There’s a smaller 25,000 miles sign-up bonus for those spending only S$500 during the same period – but it’s probably worth going all-in and aiming for the S$1,000 spend threshold to earn the full 33,600 miles bonus.
Remember though that late last year HSBC devalued transfers to KrisFlyer miles, hiking the number of points needed by 20% when redeeming, so the full sign-up bonus is now only worth 28,000 KrisFlyer miles. For the full 33,600 miles you’ll have to be transferring into the bank’s “2.5:1 partners” – like British Airways Avios, Cathay Pacific Asia Miles and Air France / KLM Flying Blue.
New to HSBC: Up to 33,600 miles sign-up bonus
The latest HSBC T1 card sign-up bonus for those new to HSBC is worth up to 33,600 bonus miles.
- do not currently hold any existing HSBC credit card; and
- did not cancel any principal HSBC Credit Card within last 12 months prior to the approval date of their new card
The promotion is valid for applications between 1st April 2025 and 31st August 2025. Your card must be approved by 14th September 2025.
If you’re new to HSBC the bonus is either:
- 25,000 miles – with a minimum spend requirement of S$500 – S$999; or
- 33,600 miles – with a minimum spend requirement of S$1,000.
APPLY HERE
Existing HSBC customers: Up to 21,600 miles sign-up bonus
HSBC is also offering bonus miles to its existing customers, with up to 21,600 miles on offer.
- currently hold a credit card with the bank as a primary cardholder, and have held one for at least 12 months; and
- did not cancel any primary HSBC credit card within the last 12 months
The promotion is also valid for applications between 1st April 2025 and 31st August 2025. Your card must be approved by 14th September 2025.
If you’re existing to HSBC the bonus is either:
- 13,000 miles – with a minimum spend requirement of S$500 – S$999; or
- 21,600 miles – with a minimum spend requirement of S$1,000.
Annual fee payment is a must
For both new and existing cardholders, the bonus are subject to:
- payment of the card’s first year annual fee of S$196.20, which will be charged even if you don’t meet one of the the spend thresholds, and
- you consenting to receive marketing or promotional materials from the bank during your application, and retaining this consent at least until the bonus miles are credited.
Don’t forget the latter step – unfortunately it’s essential – otherwise no bonus miles will be coming your way.
Qualifying spend period
Whether you’re a new or existing HSBC cardholder, the qualifying spend period for the sign-up bonus, and the bonus miles crediting deadline, is based on the date your card account is opened, as follows:
| Card opening date | Qualifying spend period | Bonus miles credit |
| 1 – 30 Apr 2025 | 1 Apr – 31 May 2025 | by 28 Aug 2025 |
| 1 – 31 May 2025 | 1 May – 30 Jun 2025 | by 28 Sep 2025 |
| 1 – 30 Jun 2025 | 1 Jun – 31 Jul 2025 | by 28 Oct 2025 |
| 1 – 31 Jul 2025 | 1 Jul – 31 Aug 2025 | by 28 Nov 2025 |
| 1 – 31 Aug 2025 | 1 Aug – 30 Sep 2025 | by 29 Dec 2025 |
| 1 – 14 Sep 2025* | 1 Sep – 31 Oct 2025 | by 12 Jan 2026 |
* Applies to applications submitted by 31st August 2025, where the card account is then opened in early September 2025.
If you open your card account towards the beginning of a calendar month, you’ll have nearly two full months to meet the minimum spend requirement, though do note the bonus miles take a further three months to credit.
Base miles earning is on top
The sign-up bonus miles will be awarded in addition to the base miles earned on your HSBC T1 card for meeting the spend requirement itself. Assuming transfers to the bank’s “2.5:1 partners”, these are:
- 1.2 mpd for local currency spending; and
- 2.4 mpd for foreign currency transactions.
For example, HSBC advertises this offer as “up to 36,000 miles”, because it also includes the miles you would earn if you met S$1,000 spend in foreign currency (FCY) purchases – comprising 33,600 bonus miles plus 2,400 base miles.
Those 2,400 miles aren’t part of the bonus, because you would receive them anyway if you spent that amount on the card at anytime – without a sign-up bonus even running.
36,000 miles is the total you will receive in HSBC’s example, but 33,600 miles is the true bonus.
Cost per mile
Since this sign-up bonus requires payment of the card’s S$196.20 annual fee, here is a summary of the cost per mile based on which promotion you are eligible for or aiming for.
| Bonus | Cost per mile | |
| New cardholder S$500 – S$999 spend |
25,000 miles | 0.78 cents |
| New cardholder S$1,000+ spend |
33,600 miles | 0.58 cents |
| Existing cardholder S$500 – S$999 spend |
13,000 miles | 1.51 cents |
| Existing cardholder S$1,000+ spend |
21,600 miles | 0.91 cents |
For new cardholders in particular, a cost per mile of 0.58 cents for those spending at least S$1,000 in the first full month is highly competitive.
Even if you transfer to 28,000 KrisFlyer miles instead, a cost per mile of 0.7 cents each is fantastic – especially now that miles are effectively worth at least 1 cent each against a variety of cash offsets for flights and shopping spend.
Spend exclusions
Your minimum spend of S$500 or S$1,000 to qualify for this sign-up bonus must not fall into the following excluded categories:
- Foreign exchange transactions (including but not limited to Forex.com);
- Donations and payments to charitable, social organisations and religious organisations;
- Quasi-cash transactions (including but not limited to transactions relating to money orders, traveler’s checks, gaming related transactions, lottery tickets and gambling);
- Payments made to financial institutions, securities brokerages or dealers (including but not limited to the trading of securities, investments or crypto-currencies of any kind);
- Payments on money payments/transfers (including but not limited to Paypal, SKR skrill.com, CardUp, SmoovPay, iPayMy);
- Payments to any professional services provider (including but not limited to GOOGLE Ads, Facebook Ads, Amazon Web Services, MEDIA TRAFFIC AGENCY INC);
- Top-ups, money transfers or purchase of credits of prepaid cards, stored-value cards or e-wallets (including but not limited to EZ-Link, Transitlink, NETS Flashpay and Youtrip);
- Payments in connection with any government institutions and/or services (including but not limited to court costs, fines, bail and bond payment);
- Any AXS and ATM transactions;
- Tax payments (except HSBC Tax Payment Facility);
- Payments for cleaning, maintenance and janitorial services (including property management fees);
- Payments to insurance companies (including but not limited to sales, underwriting, premiums and insurance services);
- Payments to educational institutions;
- Payments on utilities;
- The monthly instalment amounts under the HSBC Spend Instalment;
- Balance transfers, fund transfers, cash advances, finance charges, late charges, HSBC’s Cash Instalment Plan, any fees charged by HSBC;
- Any unposted, cancelled, disputed and refunded transactions.
Terms and conditions
Full terms and conditions for this sign-up promotion are available here:
HSBC transfer partner options
HSBC added a raft of new transfer partners to its repertoire with the advent of the TravelOne card back in 2023. These options were later extended to all HSBC miles cards in mid-2024.
Unfortunately transfers to KrisFlyer miles were recently devalued into a “3:1” ratio partner for the bank’s miles earning cards in Singapore.
= Good transfer ratio
= Lousy transfer ratio
HSBC FFP Transfer Partners
| FFP |  |
Transfer Ratio | |
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35,000 10,000 35,000 |
|
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25,000 10,000 25,000 |
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30,000 10,000 30,000 |
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30,000 10,000 30,000 |
||
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35,000 10,000 35,000 |
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35,000 10,000 35,000 |
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25,000 10,000 25,000 |
|
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25,000 10,000 25,000 |
||
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50,000 10,000 50,000 |
||
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25,000 10,000 25,000 |
||
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35,000 10,000 35,000 |
||
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25,000 10,000 25,000 |
|
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25,000 10,000 25,000 |
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25,000 20,000 25,000 |
|
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25,000 10,000 25,000 |
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35,000 10,000 35,000 |
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As you can see some of these options fall into our ‘lousy’ category – as KrisFlyer now do – due to their adverse transfer ratios, which effectively reduce the ‘advertised’ miles per dollar earn rate of your card compared to a 2.5:1 partner – like Asia Miles.
Nonetheless there are still some great options to consider here – including the British Airways Avios programme.
That one allows you to boost your Avios balance from an HSBC points transfer by doubling, tripling or quadrupling them, from 1.53 cents each, an option we recently revisited in detail – potentially unlocking rewards you didn’t think you could afford for a reasonable fee.
You can also transfer BA Avios points instantly, fee-free and 1:1 to and from the Qatar Airways Privilege Club, even after boosting them, so don’t bother with the HSBC’s lousy direct transfer option to Qatar Avios!
There you can redeem Qsuite Business Class awards from Singapore to Europe from 70,000 Avios + S$350, or Cathay Pacific Business Class awards from Singapore to Hong Kong for 22,000 Avios, with minimal taxes to pay.
(Photo: MainlyMiles)
On the hotel side, HSBC cardholders can make transfers to four different loyalty programmes.
HSBC Hotel Transfer Partners
| FFP | |
Transfer Ratio | |
 |
 |
25,000 5,000 25,000 |
|
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25,000 10,000 25,000 |
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25,000 10,000 25,000 |
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30,000 10,000 30,000 |
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In all cases the transfer ratios shown in the tables above represent the minimum transfer of HSBC Reward points to loyalty programme miles or points – after that it’s flexible.
Effective earn rates
Here’s how effective earn rates look for the HSBC T1 card, now that KrisFlyer has been relegated into the 3:1 ratio category, alongside Thai Airways Royal Orchid Plus conversions.
Effective mpd rates by partner
| Partner Ratio |
 HSBC T1 |
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| Local Spend |
FCY Spend |
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| 2.5:1 |
1.2 mpd 1.2 |
2.4 mpd 2.4 |
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| 3:1 |
1 mpd 1 |
2 mpd 2 |
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| 3.5:1 |
0.9 mpd 0.9 |
1.7 mpd 1.7 |
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| 5:1 |
0.6 mpd 0.6 |
1.2 mpd 1.2 |
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As you can see, HSBC TravelOne cardholders transferring to KrisFlyer now get just 1 mpd locally and 2 mpd for overseas spend, instead of 1.2 mpd and 2.4 mpd previously. KrisFlyer miles earning now comes with a 17% haircut compared to the 2.5:1 partners.
HSBC’s has extended its attractive sign-up offer for the TravelOne card, an especially good deal for those new to bank. With up to 33,600 bonus miles (or 36,000 total miles including base earning) on the table for a modest S$1,000 minimum spend, this represents one of the more competitive bonuses around for entry-level cards in Singapore.
The downside? It’s probably only great for those willing to explore transfer partners beyond KrisFlyer, due to a recent devaluation of HSBC’s KrisFlyer conversion ratio to 3:1.
Nonetheless, the card retains value through its 2.5:1 transfer partners, such as British Airways Avios, Cathay Asia Miles and Air France KLM Flying Blue. With S$1,000+ spend, new-to-bank applicants are effectively purchasing miles at a competitive 0.58 cents each, assuming they redeem into these better-ratio partner programmes.
Those meeting a lower spend threshold of S$500 to S$999 will receive a reduced bonus, with smaller bonus tiers also applicable to existing HSBC customers. If you fall into one of these categories, be sure to crunch the numbers to determine whether the effective cost per mile still represents good value for you.
Remember to consent to receive marketing materials during your application to be eligible, and apply by 31st August 2025.
APPLY HERE
(Cover Photo: Shutterstock)
