HSBC TravelOne vs Axis Bank Horizon: Airline Miles or Lounge Visits?

Axis Bank Horizon is the better buy for most travellers spending up to about ₹75,000 a month: it costs ₹3,000 plus GST, Axis values a mile at ₹1 on its Travel EDGE portal, and it gives up to 8 domestic and 2 international lounge visits a quarter with no spend rule. HSBC TravelOne pulls ahead for people spending more than ₹8 lakh a year, who get its fee reversed, 4 points per ₹100 on travel sites and foreign spends, and 1:1 transfers to airlines such as Air India and British Airways.

By Rashmi Mandana · Content Writer Updated 5 November 2026 Reviewed by BankCreds Financial Experts

In short

Axis Bank Horizon gives more lounge visits and a known ₹1 value per mile for a lower fee, while HSBC TravelOne rewards heavy spenders who clear ₹8 lakh a year and want 1:1 airline transfers.

Best for

Horizon: frequent domestic flyers who want lounge visits every quarter
Horizon: people who book flights direct with airlines or on Axis Travel EDGE
TravelOne: spenders above ₹8 lakh a year who transfer points to airline programmes

Skip it if

You live outside HSBC's 21 listed cities, for TravelOne
You book mainly through online travel agencies, where Horizon earns only 2 miles per ₹100

Highlights

TravelOne: ₹4,999 + GST, reversed above ₹8,00,000 a year
Horizon: ₹3,000 + GST, no spend-based waiver
TravelOne: 4 points per ₹100 on flights, travel sites and foreign spends
Horizon: 5 EDGE Miles per ₹100 on airlines and Travel EDGE, 1 mile = ₹1 there
Forex mark-up 3.5% on both

Side by side

Every term from the banks' own pages, last verified 5 November 2026.
Term	HSBC TravelOne Credit Card	Axis Bank Horizon Credit Card
Bank	HSBC India	Axis Bank
Joining fee	₹4,999 + GST	₹3,000 + GST
Annual fee and waiver	₹4,999 + GST. Annual fee, including GST, fully reversed if total eligible spend across primary and add-on cards in the anniversary year exceeds Rs 8,00,000	₹3,000 + GST. No spend-based annual fee waiver. Nil fees for customers with a Burgundy Savings Account opened on or after 1 July 2026 (one lifetime-free Axis card per Burgundy customer, at the bank's discretion).
Base reward	2 reward points for every Rs 100 spent, no cap	2 EDGE Miles per INR 100 on other spends (about 2% value)
Best category	Flights, travel aggregators and foreign currency spends: 4 reward points per Rs 100	Axis Bank Travel EDGE portal and airline spends: about 5% value
Lounges	Domestic: 6 complimentary domestic lounge visits a year International: 4 complimentary international lounge visits a year (LoungeKey)	Domestic: 8 complimentary visits per calendar quarter (Visa Signature) or 6 per calendar quarter (Mastercard World) International: 2 complimentary visits per calendar quarter (USD 1 authorisation, reversed)
Forex markup	3.5% of the amount	3.5% of the amount
Network	Mastercard	Visa, Mastercard
Published minimum income	₹50,000 a month	Not stated on the card page
Status	Taking applications	Taking applications
Add-on card fee	Nil	Nil
Earned as	Reward points	EDGE Miles
Higher-reward categories	Flights, travel aggregators and foreign currency spends: 4 reward points per Rs 100 (Accelerated earn capped at 50,000 reward points a month; regular 2 per Rs 100 after the cap, ₹50,000, calendar month)	Axis Bank Travel EDGE portal and airline spends: 5 EDGE Miles per INR 100, about 5% value (No cap stated)
No rewards on	utilities (MCC 4900) tax payments (9311) real estate agents and managers / rent (6513) non-financial institutions (6051) money transfer (4829) jewellery (5944, 5094) insurance (6300, 5960) fuel (5541, 5983, 5172, 5542, 5552) financial institutions (6010-6012) e-wallets (6540) bail and bond (9223) education and government (9399, 8299, 8220, 8211, 8241, 8244, 8249, 9222, 9402, 9211, 9405) Instant EMI transactions	Transportation and tolls Utilities and telecom Insurance Educational institutions Government institutions Wallet and gift cards Rent Fuel
Value of a point	Air miles and hotel points (select partners): 1 reward point = 1 mile for Air India Maharaja Club, Flying Blue, British Airways, Etihad and others (1:1) Gift cards, merchandise, Travel with Points: Rupee value not published	Travel EDGE bookings / value as stated by Axis: Axis value chart: '1 EDGE Mile = ₹1'; renewal '1500 EDGE Miles worth ₹1,500' Partner miles transfer: 'Dynamic conversion ratios' per the Miles Transfer programme; minimum 500 EDGE Miles EDGE REWARDS catalogue (products, vouchers): As per catalogue; minimum 500 EDGE Miles
Redemption fee	Not stated	INR 99 per redemption on the EDGE portal; INR 199 per transfer to partner programmes (stated on other Axis card pages)
Expiry	Points valid 3 years from the end of the calendar month in which they are earned	Not stated for EDGE Miles; unredeemed EDGE Miles may be forfeited 30 days after card closure or if MAD is overdue more than 90 days (from 1 Oct 2025).
Welcome benefits	Rs 1,000 cashback, Rs 3,000 PostCard voucher and 3 months' EazyDiner Prime for logging on to the HSBC app and spending Rs 25,000 within the first 30 days	5,000 EDGE Miles if the first transaction is INR 1,000 or more and made within 30 days of issuance (paid cards only; credited within 60 days for cards issued from 1 Sept 2026)
Milestone benefits	10,000 bonus reward points on spending more than Rs 12,00,000 a year	Renewal: 1,500 EDGE Miles each card anniversary from the second anniversary year (primary card; not for lifetime-free cards)
Fuel surcharge waiver	No fuel surcharge waiver (KFS: NA); no points on fuel	1% fuel surcharge waiver on transactions of INR 400 to INR 5,000; maximum INR 400 per statement month; GST not refunded
Insurance cover	Purchase protection up to USD 20,000 a year (ICICI Lombard); other covers per service guide	Lost card liability cover up to INR 10 lakh (New India Assurance)
Interest on unpaid balances	Up to 3.75% a month (45% a year)	Up to 3.75% a month (55.55% a year)
Late payment fee	100% of the Minimum Payment Due, minimum Rs 250 and maximum Rs 1,200 a month; charged only if the minimum payment does not reach HSBC within 3 days of the payment due date	Nil if total payment due is up to INR 500; INR 500 for INR 501 to 5,000; INR 750 for INR 5,001 to 10,000; INR 1,200 for INR 10,001 to 50,000; INR 1,300 if greater than INR 50,000; additional INR 100 if Minimum Amount Due is missed for two consecutive cycles, every cycle until MAD is cleared (MITC; INR 1,300 slab effective 28 Aug 2026)
Cash withdrawal	2.5% of the amount, minimum Rs 500; finance charge from the date of withdrawal	2.5% of the amount (minimum INR 500); interest at 3.75% per month from the date of withdrawal
Age (salaried)	18 to 65 years	18 to 70 years
Income (salaried)	Minimum Rs 6,00,000 a year	Not stated on the card page
Income (self-employed)	Minimum Rs 12,00,000 a year	Not stated on the card page
Documents	Latest salary slip (salaried) Proof of residence Identity proof PAN card	PAN card photocopy / colour photograph Income proof: latest payslip, Form 16, IT return or Form 60 Residence proof: driving licence, electricity bill or landline telephone bill
Last verified	5 November 2026	5 November 2026

A transfer card and a lounge card, both built for flyers

The HSBC TravelOne Credit Card is a points card for people who collect airline miles. It earns 2 reward points per ₹100, 4 per ₹100 on flights, travel aggregators and foreign currency spends, and the points moves 1:1 to programmes like Air India Maharaja Club, Flying Blue, British Airways and Etihad. It costs ₹4,999 plus GST a year, reversed if you spend more than ₹8 lakh.

The Axis Bank Horizon Credit Card costs ₹3,000 plus GST, earns 5 EDGE Miles per ₹100 on airline sites and Axis Travel EDGE and 2 elsewhere, and Axis value each mile at ₹1 on Travel EDGE bookings. Its real draw are the lounges: up to 8 domestic and 2 international visits every quarter, no spend needed.

The verdict in two sentences. For spends up to about ₹75,000 a month Horizon gives more for less, unless each TravelOne point is worth more than ₹0.86 to you as an airline mile. Above ₹1 lakh a month TravelOne's reversed fee and 10,000-point milestone tilt it the other way, with a TravelOne point needing just ₹0.70 to beat Horizon.

Recent changes

Horizon: since 1 July 2026 the fee is nil for customers with a Burgundy Savings Account opened on or after that date, one such card per customer. On 21 August 2026 the markup on rupee payments abroad went to 3.5%, and cards issued from 1 September 2026 gets the 5,000 welcome miles within 60 days rather than 7.
TravelOne: no change to its fee or earn rates is recorded for 2024 to 2026.

Fees: a bigger fee you can lose, or a smaller one you always pay

TravelOne charges ₹4,999 to join and ₹4,999 a year, GST extra, so ₹5,898.82 at 18% (₹4,999 plus ₹899.82). Good part is, the waiver: if primary and add-on cards together spend more than ₹8,00,000 in the anniversary year, HSBC reverses the full annual fee including GST. That's ₹66,667 a month (₹8,00,000 divided by 12), which is not small amount.

Horizon charges ₹3,000 to join and every year, ₹3,540 with GST (₹3,000 plus ₹540), and has no spend-based waiver at all. The only way out is the Burgundy route, nil fees for customers with a Burgundy Savings Account opened on or after 1 July 2026, at the bank's discretion. Add-on cards are free on both.

Charge	HSBC TravelOne	Axis Bank Horizon
Joining and annual fee	₹4,999 + GST each	₹3,000 + GST each
Fee waiver	Spend above ₹8,00,000 a year	None on spend; nil for new Burgundy accounts
Interest	3.75% a month (45% a year)	3.75% monthly (55.55% yearly, as Axis puts it)
Late fee	100% of the minimum due, ₹250 to ₹1,200	Slabs from nil up to ₹1,300
Cash advance	2.5%, minimum ₹500	2.5%, minimum ₹500
Forex mark-up	3.5%	3.5%
Rent	1% plus taxes	1% plus GST
Redemption fee	Not stated	₹99 a redemption, ₹199 a partner transfer

HSBC's late fee work differently than most banks: it is the full minimum due, at least ₹250 and at most ₹1,200 a month, charged only if the minimum does not reach HSBC within 3 days of the due date. Axis uses slabs, ₹1,200 for dues of ₹10,001 to ₹50,000 and ₹1,300 above, plus ₹100 a cycle once the minimum is missed twice in a row.

Both charge 3.5% on foreign currency spends, which is high for travel cards and the same on both, so it cancel out in our maths. On ₹50,000 spent abroad either card adds ₹1,750 plus ₹315 GST. Paying cash at a branch costs ₹100 at HSBC and ₹175 at Axis.

Rewards: where each card earns its higher rate

HSBC TravelOne

4 points per ₹100 on airline codes, travel aggregators and agencies, and all foreign currency spends, capped at 50,000 points a month, after which it drops to 2.
2 points per ₹100 on other spends, with no cap; add-on spends earn too.
10,000 bonus points when the year's spend crosses ₹12,00,000.

No points comes on utilities, tax, rent, insurance, fuel, jewellery, wallets, education, government or Instant EMI. Points transfer 1:1 to select airline and hotel programmes and last 3 years from the end of the month earned. HSBC publish no rupee value for gift cards or merchandise, so the value depends entirely on what an airline mile is worth to you.

Axis Bank Horizon

5 EDGE Miles per ₹100 on Axis Travel EDGE and on airline websites, counters and helplines, no cap stated.
2 EDGE Miles per ₹100 elsewhere, and only 2 on travel agents and online travel agencies.
1,500 renewal miles each anniversary from the second year, worth ₹1,500 on Axis's own chart.

No miles on transport and tolls, utilities, telecom, insurance, education, government, wallets, gift cards, rent or fuel. Axis values 1 EDGE Mile at ₹1 on Travel EDGE bookings; transfers to partners run at "dynamic" ratios Axis doesn't publish, with a minimum of 500 miles and ₹199 a transfer. Horizon's mile expiry is not stated, though miles can be forfeited 30 days after closure or when the minimum due is over 90 days late.

Three spend profiles, a renewal year

Flights are booked direct on airline sites, which earn the top rate on both cards. Foreign spends are in foreign currency. Horizon is valued at ₹1 a mile on Travel EDGE; TravelOne's points have no published rupee value, so the last row shows what each would need to be worth for the cards to come out level. Forex being identical, so it is left out.

Per year	A: ₹40,000 a month	B: ₹75,000 a month	C: ₹1,20,000 a month
Monthly mix: flights, abroad, other	₹4,000, none, ₹36,000	₹10,000, ₹10,000, ₹55,000	₹20,000, ₹20,000, ₹80,000
TravelOne points incl. bonus	10,560	22,800	48,400
TravelOne fee with GST	₹5,898.82	Reversed	Reversed
Horizon miles incl. renewal	12,540	23,100	37,500
Horizon value after ₹3,540 fee	₹9,000	₹19,560	₹33,960
TravelOne point value needed to draw level	₹1.41	₹0.86	₹0.70

A. TravelOne: 160 points on ₹4,000 of flights and 720 on ₹36,000, so 880 a month and 10,560 a year; ₹4.8 lakh (₹40,000 times 12) is far from ₹8 lakh, so the fee stays. Horizon: 200 miles on flights plus 720, so 920 a month, 11,040 a year, plus 1,500 renewal miles is 12,540, ₹9,000 after the fee (₹12,540 minus ₹3,540). TravelOne needs ₹14,898.82 (₹9,000 plus ₹5,898.82) from 10,560 points, ₹1.41 a point, which is too much of asking.

B. TravelOne: 400 on flights, 400 abroad and 1,100 on the rest make 1,900 a month, 22,800 a year, and ₹9 lakh of spend (₹75,000 times 12) reverse the fee. Horizon: 500 plus 200 plus 1,100 is 1,800 a month, 21,600 a year, plus 1,500 is 23,100, so ₹19,560 after the fee. Break-even is ₹19,560 divided by 22,800, about ₹0.86 a point.

C. TravelOne: 800 plus 800 plus 1,600 is 3,200 a month, 38,400 a year, and the ₹14.4 lakh of spend (₹1,20,000 times 12) earns the 10,000 bonus, so 48,400 points with the fee reversed. Horizon: 1,000 plus 400 plus 1,600 is 3,000 a month, 36,000 a year, plus 1,500 is 37,500, so ₹33,960 after the fee. TravelOne needs only ₹33,960 divided by 48,400, about ₹0.70 a point. If you book through online travel agencies instead, Horizon earns 2 rather than 5 on flights and TravelOne still earn 4, which moves every break-even down further.

Eligibility: TravelOne is choosier about income and city

Rule	HSBC TravelOne	Axis Bank Horizon
Age	Salaried 18 to 65; self-employed 25 to 65	18 to 70 years
Income	₹6,00,000 a year salaried; ₹12,00,000 self-employed	No card-specific figure; Axis's general criteria say ₹15,000 a month
Where you live	One of 21 listed cities	Anywhere in India
Documents	Salary slip, residence and identity proof, PAN	PAN or photo, payslip, Form 16 or IT return, residence proof

TravelOne asks for ₹6,00,000 a year if you are salaried, which is ₹50,000 a month (₹6,00,000 divided by 12), and double that, ₹12,00,000, if self-employed. You must also live in one of HSBC's 21 cities, among them Mumbai, Delhi NCR, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Jaipur, Kochi and Chandigarh. HSBC take applications online with video KYC, by phone or at a branch.

Horizon has no income figure of its own beyond Axis's general ₹15,000 a month, takes residents from 18 to 70, and can be applied for online, in the Axis app or at a branch. On paper it is much easier for get, but a ₹3,000 travel card is still judged on your profile.

Whatever the published rule, the RBI's 2025 card Directions make every issuer weigh your own means and the credit lines you carry elsewhere, and a refusal has to come with written reasons. Approval is the bank's decision. Our eligibility criteria guide explains what else they check.

Pros and cons

Pros

Horizon: up to 8 domestic and 2 international lounge visits a quarter with no spend rule
Horizon: 5 EDGE Miles per ₹100 on airlines and Travel EDGE, valued at ₹1 each there
Horizon: 5,000 welcome miles and 1,500 renewal miles
TravelOne: 4 points per ₹100 on flights, travel aggregators and foreign spends
TravelOne: 1:1 transfers to select airline and hotel programmes, and fee reversed above ₹8 lakh

Cons

Horizon: ₹3,000 + GST every year with no spend-based waiver
Horizon: only 2 miles per ₹100 on online travel agencies, and partner transfer ratios are not published
TravelOne: ₹4,999 + GST unless you spend more than ₹8,00,000 a year
TravelOne: only for residents of 21 cities, with a ₹6 lakh salaried income floor
Both: 3.5% forex mark-up

Frequently asked questions

Which is better, HSBC TravelOne or Axis Bank Horizon?

For most people spending up to about ₹75,000 a month, Axis Bank Horizon. It costs ₹3,000 plus GST, values a mile at ₹1 on Travel EDGE and gives far more lounge visits. HSBC TravelOne wins above ₹8 lakh a year, when its fee is reversed and a point worth just ₹0.70 to ₹0.86 as an airline mile beats Horizon in our profiles.

What are the annual fees and waivers?

HSBC TravelOne charges ₹4,999 plus GST to join and every year, and reverses the annual fee including GST when primary and add-on cards together spend more than ₹8,00,000 in the anniversary year. Axis Bank Horizon charges ₹3,000 plus GST with no spend-based waiver; the fee is nil only for customers with a Burgundy Savings Account opened on or after 1 July 2026.

How many airport lounge visits do these cards give?

Axis Bank Horizon gives 8 domestic visits a calendar quarter on Visa Signature or 6 on Mastercard World, plus 2 international visits a quarter, with the spend rule waived. HSBC TravelOne gives 6 domestic and 4 international visits a year, with no spend condition stated. On a Visa Horizon that is up to 40 visits a year against 10.

Can I transfer points to airlines with these cards?

Yes, with different clarity. HSBC TravelOne points move 1:1 to select programmes such as Air India Maharaja Club, Flying Blue, British Airways and Etihad. Axis Bank Horizon EDGE Miles move to partners at dynamic ratios Axis does not publish, with a minimum of 500 miles and a ₹199 fee per transfer; on Travel EDGE a mile is worth ₹1.

Who can apply for HSBC TravelOne and Axis Horizon?

HSBC TravelOne needs a salaried income of ₹6,00,000 a year or ₹12,00,000 if self-employed, ages 18 to 65 (25 to 65 if self-employed) and a home in one of 21 listed cities. Axis Bank Horizon accepts residents aged 18 to 70 and publishes no income figure; Axis's general floor is ₹15,000 a month. Approval rests with the bank.

Do these travel cards have a low forex mark-up?

No. Both charge 3.5% on foreign currency spends, plus GST, so ₹50,000 spent abroad costs ₹2,065 extra on either card. TravelOne does earn 4 points per ₹100 on foreign currency spends against Horizon's 2 EDGE Miles, which helps a little. Since 21 August 2026 Horizon also charges 3.5% on rupee payments to merchants abroad.

Sources

The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India): Important Terms and Conditions (TravelOne); HSBC Rewards Marketplace Terms and Conditions; HSBC Credit Card Key Fact Statement; HSBC TravelOne Credit Card; HSBC TravelOne Credit Card (footnote)
Axis Bank: Axis Bank HORIZON Credit Card Terms and Conditions; Most Important Terms and Conditions (MITC), PDF dated 8 October 2026; Key Fact Sheet (schedule of charges), last updated 8 October 2026; Axis Bank Horizon Credit Card page
Business Today: New rules for Axis Bank credit cards valid from December 20

Last verified: 5 November 2026

Written by Rashmi Mandana, reviewed by BankCreds Financial Experts

BankCreds does not sell cards or take applications. Fees and rewards change; the bank's own terms on the day you apply are what count, and approval is the bank's decision.