2 Membership Rewards Points / ₹100
Strong data Pairwise comparison
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AMEX Membership Rewards vs HSBC TravelOne
Side-by-side comparison of the American Express Membership Rewards and the HSBC India TravelOne. Verify fees, lounge access, forex markup, and base rewards before you apply.
The short answer
Pick Membership Rewards for a lower fee.
Membership Rewards costs ₹499 less a year.
Head-to-head
- Annual fee Annual fee outcome: Membership Rewards wins. Membership Rewards saves ₹499/yrMembership Rewards ₹4,500TravelOne ₹4,999 Waivable at ₹8,00,000 spend
- Forex markup Forex markup outcome: tie. Membership Rewards 3.5%TravelOne 3.5%
- Domestic lounge Domestic lounge outcome: insufficient data to compare. Membership Rewards No complimentary lounge accessTravelOne 6/year
- Rewards Rewards outcome: insufficient data to compare. conservative base valueMembership Rewards ~0.7%TravelOne Not safely INR-comparable
Reward earning explained
2 pts / ₹100 · 4 points/₹100 on eligible airlines, travel aggregators and foreign-currency transactions
Strong dataExample usage at this monthly spend
At ₹50k/month spend:
- American Express Membership Rewards: ~₹330/month at base rate
- HSBC TravelOne: Base earn not clearly specified
Illustrative only, using current base rates before caps.
All fields
| Field | Membership Rewards American Express | TravelOne HSBC India |
|---|---|---|
| Lounge Access | ||
| Domestic lounge visits No complimentary lounge access vs 6/year | No complimentary lounge access | 6/year |
| International lounge visits Only available for HSBC TravelOne | Not specified | 4 per year |
| Forex / International Use | ||
| Forex markup | 3.5% | 3.5% |
| Fees | ||
| Recurring annual fee ₹4,500 vs ₹4,999 | ₹4,500 | ₹4,999 |
| First-year cost Only available for American Express Membership Rewards | ₹1,000 | Not specified |
| Annual-fee waiver Only available for HSBC TravelOne | Not specified | ₹8,00,000 |
| Interest-free period Only available for American Express Membership Rewards | Up to 48 days | Not specified |
| Monthly interest rate 3.5% / month vs 3.75% / month | 3.5% / month | 3.75% / month |
| Fuel benefit Only available for American Express Membership Rewards | 1% surcharge waiver · ₹5,000+ transactions · Fuel rewards excluded | Not specified |
| Rewards | ||
| Points per ₹100 2 Membership Rewards Points / ₹100 vs 2 pts / ₹100 | 2 Membership Rewards Points / ₹100 | 2 pts / ₹100 |
| Conservative base value ~0.7% vs Not safely INR-comparable | ~0.7% | Not safely INR-comparable |
| Earn ceiling Uncapped vs Calendar-month cap: 50,000 points shared across Airlines and travel aggregators & Foreign-currency transactions | Uncapped | Calendar-month cap: 50,000 points shared across Airlines and travel aggregators & Foreign-currency transactions |
| Point value (headline channel) Issuer headline redemption rate — see each card page for the full channel grid. Only available for American Express Membership Rewards | ₹0.333 | Not specified |
| Insurance — Lost card liability cover Only available for HSBC TravelOne | Not specified | ₹3 lakh |
| Insurance — Purchase protection Only available for HSBC TravelOne | Not specified | Not specified |
Notes
- Card benefits change frequently. Always verify current terms on the issuer's official website or app before applying.
American Express Membership Rewards
Verify with issuer , opens external siteHSBC India TravelOne
Verify with issuer , opens external site