HOTEL PROGRAM
IHG One Rewards: Transfer Partners & What an IHG Point Is Worth
India’s largest mid-scale hotel estate, fed by five Indian bank currencies — into a point IHG itself says has no value until redeemed. We hold it at ₹0.45, below the global figure, because the Indian estate is Holiday Inn, not InterContinental.
Card data updated
Realistic value
₹0.45 / point
Type
Hotel loyalty
Our estimate, held below the global figure on purpose: IHG says points have no value until redeemed and prices Reward Nights dynamically, and India’s IHG estate is overwhelmingly Holiday Inn, Holiday Inn Express and Crowne Plaza. See how we value points →
IHG One Rewards is the loyalty programme behind Holiday Inn, Holiday Inn Express, Crowne Plaza, voco, InterContinental and Six Senses — and in India that means the country's largest mid-scale hotel estate, which is why five Indian bank currencies route into it. Two things set it apart from the other hotel programmes an Indian card reaches. IHG's own terms say a point has no value until it is redeemed, and Reward Nights are priced dynamically by brand, hotel and day of the week, so there is no chart to plan against. And the estate you can actually spend on here is Holiday Inn tier, not InterContinental — which is why we hold an IHG point at ₹0.45, deliberately below the global figure.
Which Indian cards transfer into IHG points
The ratio is set by the card, and only one route clearly beats the currency's own floor.
| Card / currency | Ratio | Note |
|---|---|---|
| HSBC TravelOne / Premier | 1:1 | The route that gains: about 45 paise per HSBC point against the 25-paise catalogue, no minimum, no cap, instant to one working day. Platinum and RuPay Platinum transfer at 2:1. |
| Axis EDGE Miles — Atlas | 1:2 | Two IHG points per EDGE Mile, about 90 paise of hotel value against the fixed ₹1 the Travel EDGE portal pays. Olympus 1:4 clears it at about ₹1.80; Horizon 1:1 and IndianOil Premium 2:1 do not. |
| Axis EDGE Reward Points — Reserve, Magnus | 5:2 | About 18 paise per point, a shade under the 20-paise EDGE catalogue. Burgundy Private 5:4 (about 36 paise); Select, Privilege and Rewards 10:1. |
| HDFC Infinia, Diners Club Black | 1:1 | About 45 paise per Reward Point, above the 30-paise catalogue but below the 50 paise SmartBuy pays on travel. Regalia Gold 2:1. HDFC publishes its transfer table only behind a login, so confirm the live ratio there. |
| SBI Card MILES, MILES PRIME, MILES ELITE | 1:1 | About 45 paise per Travel Credit against the 50 paise SBI's own portal pays — a top-up, not a reason to hold the card. Allow up to 21 days. |
One exit is worth knowing too. IHG exchanges 10,000 points into 2,000 Virgin Atlantic Flying Club points, and because Axis buys IHG at 1:2, that two-hop chain is the strongest non-Amex route into Virgin Atlantic there is — about 40 paise per EDGE Mile, ahead of anything through Marriott. It is still a loss against spending the points on a hotel night; it is simply the smallest one.
What an IHG point is worth
IHG's terms are unusually blunt: points have no retail value, are not redeemable for cash, and have no value until presented for redemption. Reward Nights price by brand, hotel and day of week with no published chart, there are no blackout dates, and inventory is limited. We hold it at ₹0.45 as a realistic planning figure — our estimate, and a deliberately India-adjusted one. The global figure sits nearer 58 paise, lifted by InterContinental, Kimpton and Six Senses redemptions that Indian travellers rarely book at home; India's IHG estate is overwhelmingly Holiday Inn, Holiday Inn Express and Crowne Plaza, whose dynamic awards run lower. Hold the ratio and the value together: HSBC's 1:1 nearly doubles a point that otherwise redeems at 25 paise, while every other route lands at or a little below what the same points fetch at home.
How earning, expiry and transfers work
Members earn on eligible hotel charges — the room, food and beverage, and incidentals billed to it — with Elite tiers earned on qualifying nights or points in a calendar year, and excess nights rolling over. The rule that costs people the balance is the shortest inactivity clock of any hotel programme here after Accor: a Club-level member with no earn or redeem transaction posted for twelve months loses the whole balance. Any earn or redeem resets it, and holding any Elite tier switches expiry off entirely for as long as the tier is kept. Points can be moved between two named member accounts, but only through IHG's own process and at $5 per 1,000 points, and IHG's terms allow no other transfer between members — not even on death, outside the estate procedure they set out. That rule governs member-to-member movement only: converting out to an airline partner, like the Virgin Atlantic exit above, is a separate mechanism and is unaffected by it. A bank transfer into IHG is an earn transaction, so feeding the account keeps it alive.
Who should chase IHG points
IHG suits the cardholder who already stays at Holiday Inn, Crowne Plaza or InterContinental properties and holds HSBC points, where the 1:1 genuinely adds value, or an Axis Olympus, where 1:4 does. That Axis route is for existing holders: the Olympus is extended only by invitation, and Axis is no longer issuing the Atlas to new applicants. For HDFC, SBI and Atlas holders the ratios are fair but the destination is worth less than the portal alternative, so transfer only for a specific stay you have already priced in points. If you want a hotel point that holds value rather than one you must spend well, Accor ALL at a euro peg is the better home — or, for HDFC and SBI points, Club ITC at a published rupee rate (Axis dropped Club ITC as a partner in September 2026).
Below are the cards that route into IHG One Rewards, with the ratio each one gets and the fine print worth knowing before you move a balance.
How to transfer credit-card points to IHG One Rewards
Every standing route from an Indian reward currency, read from our transfer graph rather than typed alongside it. A ratio given as a range differs by card — the graph knows which cards sit at each end, and you should still confirm the live rate in your bank’s rewards portal before transferring. Never assume a promotional rate is the standing one.
| From (currency & cards) | Ratio | Notes |
|---|---|---|
| Axis EDGE MilesAxis Bank | 1:4 – 2:1 (per card) | Atlas 1:2 — two IHG points per EDGE Mile, about 90 paise of hotel value against the fixed ₹1 the Travel EDGE portal pays, so a small loss unless the award beats our estimate. Olympus 1:4 (about ₹1.80 a mile), Horizon 1:1, IndianOil Premium 2:1. Group B cap, minimum 500 EDGE Miles, up to 3 business days. |
| HDFC Reward PointsHDFC Bank | 1:1 / 2:1 (per card) | Infinia and Diners Club Black 1:1, Regalia Gold 2:1 — a rung below on this partner as on most. HDFC publishes its SmartBuy transfer table only behind a login, so confirm the live ratio there before moving a balance; at 1:1 an IHG point returns about 45 paise against the 50 paise SmartBuy pays on travel. |
| HSBC Reward PointsHSBC | 1:1 / 2:1 (per card) | The route that genuinely gains: TravelOne and Premier convert 1:1 — about 45 paise a point against HSBC’s 25-paise catalogue — with no minimum and no cap, instant to one working day. Platinum and RuPay Platinum transfer at 2:1. |
| SBI Card Travel CreditsSBI Card | 1:1 | 1:1 from all three MILES cards, so about 45 paise a credit against the 50 paise SBI’s own travel portal pays — a top-up route, not a reason to hold the card. Allow up to 21 days. |
| Axis EDGE Reward PointsAxis Bank | 5:4 – 10:1 (per card) | Reserve and Magnus 5:2 (about 18 paise a point, a shade under the ₹0.20 EDGE catalogue), Burgundy Private 5:4 (about 36 paise), Select, Privilege and Rewards 10:1 (under 5 paise). Minimum 300 points, Group B cap. |
Expiry and pooling
The two rules that decide whether you still hold the points when you come to spend them. Both are quoted from IHG One Rewards Membership Terms and Conditions (Point Expiration; Point Transfers), read on 2026-09-05.
Expiry
IHG points expire after 1 year of inactivity, and qualifying activity restarts the clock.
“Club level membership Points (see Member Benefits, including levels of membership, here) will expire if your membership account point balance becomes inactive, meaning there was no “earn” or “redeem” transactions, for any period of twelve (12) months or longer, which means your Points will be removed from your account and will no longer be available for redemption.”
Who is exempt
“Elite Members’ Points do not expire as long as Elite level membership is maintained.”
Extending
“To maintain your account points balance and avoid points expiration, you must have at least one “earn” or “redeem” transaction posted to your account every twelve (12) months.”
Sharing and pooling
IHG points can be moved to another member's account, within the limits quoted below.
“Points may be transferred between two specifically designated Member accounts. Follow the instructions to transfer points here or call IHG Customer Care. An authorization to transfer Points form must be submitted to transfer Points. Once authorization is received and processed, the transferor relinquishes all rights to the transferred Points, subject to local laws; no cancellations or refunds are permitted.”
“The Member authorizing the transfer will be charged $5 US per 1,000 Points transferred, payable via valid, accepted credit card or approved payment method.”
Source: IHG One Rewards Membership Terms and Conditions (Point Expiration; Point Transfers), read 2026-09-05. Programmes change these terms without notice — check yours before relying on a date.
Cards that transfer to IHG One Rewards
Each card below can feed IHG points via a points transfer. Tap any card for its full review — fees, reward rates and eligibility. These are the cards we cover in depth; other cards that earn a currency in the table above can reach IHG One Rewards the same way.
₹12,500/yr
annual fee · ≈ ₹14,750 incl. GST
● BEST FOR: 3.3% reward points on Groceries
Annual fee
Joining fee
Top reward
Welcome bonus
Fee waiver
Forex markup
Fuel waiver
HDFC Infinia is invitation-only for HDFC's top relationship customers. Sanjay, a senior executive with an HDFC salary account, uses SmartBuy to book business flights: 5X points = ₹1 per ₹6 spent. His ₹5L/month spend earns about ₹2 lakh in points a year at the 3.3% base — on ELIGIBLE spend only: fuel, rent, government, wallet loads, EMI, third-party-app education and property management earn nothing here, and grocery and utility each stop at 2,000 points a month, so a real ₹5L/month wallet lands below that figure. Unlimited Priority Pass covers his weekly lounge visits globally. The 2% forex markup on ₹20L/year international spend saves ₹30,000 before GST against the 3.5% standard markup on most HDFC cards.
Why it stands out 10X SmartBuy points — the highest points density in Indian credit cards
Best suited for Infinia is for HDFC's top-tier relationship customers — typically those with ₹30L+ invested in HDFC products or a salary account with significant AUM. If you can get invited, the SmartBuy accelerator (10X on hotels, 5X on flights) is the highest points density on any Indian card.
₹10,000/yr
annual fee · ≈ ₹11,800 incl. GST
● BEST FOR: 4.33% reward points on Dining
Annual fee
Joining fee
Top reward
Welcome bonus
Fee waiver
Forex markup
Min income
The HDFC Diners Club Black Metal is HDFC's premium all-rounder — 5 reward points per ₹150 (~3.3% at ₹1/point) across spends, with SmartBuy turning travel into double-digit returns (10X on hotels and partner brands like IGP, Jockey and PharmEasy, ~33%; 5X on flights, buses and Myntra, ~16.5%; 3X on trains and brand vouchers). The ₹10,000 fee waives at ₹8 lakh of annual spend. It adds 2X on weekend dining at standalone restaurants, Club Marriott, Amazon Prime and Swiggy One one-year memberships once you spend ₹1.5 lakh in the first 90 days, a 10,000-point milestone on ₹4 lakh quarterly spend, and unlimited access to 1,300+ lounges worldwide on the Diners Club network itself. Largely spared the May 2026 HDFC devaluation, it remains one of the strongest premium cards for high spenders.
Why it stands out ~3.3% base with rich SmartBuy accelerators, three bundled memberships and unlimited 1,300+ lounges; ₹10,000 fee waives at ₹8 lakh
Best suited for For HDFC customers who book travel via HDFC SmartBuy and spend ₹50,000+ per month total. The SmartBuy 10X multiplier is what makes this card exceptional — if you do not use SmartBuy, the Infinia or Regalia Gold offers better everyday value.
₹20,000/yr
annual fee · ≈ ₹23,600 incl. GST
● BEST FOR: 3% reward points on all spends
Annual fee
Joining fee
Base reward
Welcome bonus
Forex markup
Min income
The HSBC Premier World Mastercard waives its ₹20,000 annual fee for Qualified HSBC Premier customers (the ₹12,000 joining fee applies post-activation) and pairs a class-leading 0.99% forex markup with unlimited domestic and international lounge access (1,400+ lounges, plus 8 guest visits) and ₹1 crore of travel insurance — with none of the spend-threshold games that clutter its rivals. It earns 3 reward points per ₹100 on eligible spends and up to 12X on travel booked through the HSBC Travel with Points portal, points never expire, and they transfer to about 20 airline and hotel partners (mostly 1:1). Note the April 2025 changes: eleven everyday categories (utilities, insurance, education, government, wallets, rent and more) now share a cumulative ₹1 lakh/month earn cap, and fuel no longer earns points. It will not out-earn an Infinia, but for a Premier customer the unlimited lounges, sub-1% forex and ₹1cr cover make it close to a no-brainer. The only real barrier is the banking relationship.
Why it stands out Annual fee waived for Qualified Premier customers (₹12,000 joining fee applies): 0.99% forex, unlimited lounges (1,400+) + ₹1cr travel insurance, points that never expire
Best suited for For HSBC Premier banking customers who travel internationally — the 0.99% forex, unlimited lounges and ₹1cr insurance are genuinely premium, and the annual fee is waived with the relationship.
₹50,000/yr
annual fee · ≈ ₹59,000 incl. GST
● BEST FOR: 6% reward points on International
Annual fee
Joining fee
Top reward
Welcome bonus
Fee waiver
Forex markup
The Axis Reserve is Axis Bank's ₹50,000 super-premium flagship — and contrary to any "ordinary ~1%" framing, it carries the richest base earn in its class: 15 EDGE Reward Points per ₹200 on domestic spends and 30 per ₹200 internationally. Those are worth about 3% and 6% at the ₹0.40 we price a transferred EDGE point at, or half that — ≈1.5% and ≈3% — if you redeem on the EDGE catalogue at ₹0.20. It pairs a low 1.5% forex markup with unlimited domestic and international lounge access (primary and add-on, plus 12 guest visits a year), three hotel memberships and a 24x7 concierge. The ₹50,000 fee technically waives at ₹35 lakh of annual spend — effectively unwaivable for most. The 2023–24 revisions cut the airline-transfer value, not the earn rate, so it remains a strong everyday super-premium earner.
Why it stands out Richest base earn among super-premium cards — 15 EDGE Reward Points per ₹200 domestic, 30 per ₹200 international (≈3% and ≈6% at the ₹0.40 transfer value) — with 1.5% forex and unlimited lounges
Best suited for For very high spenders who want a rich everyday earn plus unlimited lounges and low forex, and won't miss the trimmed airline-transfer value.
₹5,000/yr
annual fee · ≈ ₹5,900 incl. GST
● BEST FOR: 4% airline miles on all spends
Annual fee
Joining fee
Base reward
Welcome bonus
Forex markup
Fuel waiver
Min income
The Axis Atlas is India's most popular dedicated travel card. It earns EDGE Miles at 5 per ₹100 on Axis Travel EDGE and on bookings made direct with an airline or hotel — capped at ₹2 lakh of such spend a calendar month — and 2 per ₹100 on everything else, online travel agencies included. The April 2026 devaluation reset the maths, removing Accor and Marriott as transfer partners and adding British Airways, Finnair and Vietnam Airlines at a poorer 2:1. Qatar Airways Privilege Club and Accor were cut in that same April round but had returned to the Axis partner list by August and September 2026 respectively — both in the weak 2:1 band, not the 1:2 the Atlas gets on partners like Air India Maharaja Club. The welcome bonus is 2,500 EDGE Miles (down from 5,000 for cards sourced before April 2024), worth roughly ₹5,000 at 1:2 — about 85% of the ₹5,900 all-in joining fee. Milestones pay 2,500 EDGE Miles at ₹3 lakh of eligible annual spend, a further 2,500 at ₹7.5 lakh and a further 5,000 at ₹15 lakh. The spend tiers are a separate ladder — Silver from day one, Gold at ₹7.5 lakh, Platinum at ₹15 lakh — and the tier sets the anniversary gift credited when the annual fee is paid: none at Silver, 2,500 EDGE Miles at Gold and 5,000 at Platinum.
Why it stands out EDGE Miles travel card (5/₹100 travel, 2/₹100 else) with spend-tier milestones and standout lounge access (no spend-gate, uncapped guest entry) — still strong for high spenders, though lighter after the April 2026 transfer-partner cuts
Best suited for Atlas suits the traveller who books flights and hotels direct — on the airline's or hotel's own website, at the counter, or through Axis Travel EDGE — because that is where the 5 miles per ₹100 lands. Book the same trip through MakeMyTrip, Goibibo or EaseMyTrip and you earn the base 2 per ₹100 instead. If you are ready to transfer miles 1:2 to a partner such as Air India Maharaja Club or Singapore Airlines KrisFlyer, the value doubles. For high spenders it stays a top pick — the no-spend-gate, uncapped-guest lounge access alone can justify the fee against pricier premium cards.
₹2,500/yr
annual fee · ≈ ₹2,950 incl. GST
● BEST FOR: 1.25% reward points on all spends
Annual fee
Joining fee
Base reward
Welcome bonus
Fee waiver
Forex markup
Min income
HDFC Regalia Gold is a premium all-rounder, but the 15 May 2026 revision trimmed it. The base earn dropped to 5 reward points per ₹200 (~1.25% at ₹0.50/point, down from 4 RP/₹150), and from July 2026 domestic lounge access is gated behind ₹60,000 of quarterly spend. It still earns an accelerated 25 RP per ₹200 (~6.25%) at partner brands (Myntra, Marks & Spencer, Nykaa, Reliance Digital), and SmartBuy turns flights into 5X (~6.25%) and hotels into 10X (~12.5%), capped 4,000 RP/month. The ₹2,500 fee waives at ₹4 lakh of annual spend, with quarterly ₹1,500 vouchers (₹1.5L) and ₹5,000 flight vouchers (₹5L and ₹7.5L). The ₹2,500 welcome benefit is not automatic — HDFC's terms gate it on ₹1 lakh of net retail spend in the first 90 days, though its own FAQ still advertises it unconditionally. Redemption is capped at 70% of a booking's value and at 50,000 reward points a calendar month. Still capable, just no longer the effortless pick it was.
Why it stands out Accelerated ~6.25% at partner brands and via SmartBuy, but a thinner ~1.25% base and spend-gated lounges after the May 2026 devaluation; ₹4 lakh fee waiver
Best suited for For premium spenders who will use SmartBuy and the partner-brand accelerators and can clear ₹60,000/quarter to keep lounge access — less compelling for low-effort everyday use now.
₹4,999/yr
annual fee · ≈ ₹5,899 incl. GST
● BEST FOR: 4% airline miles on International
Annual fee
Joining fee
Top reward
Welcome bonus
Fee waiver
Forex markup
Min income
The HSBC TravelOne is India's most flexible transferable-miles card — and the unlikely winner of 2026's premium-card upheaval. While Axis halved the Magnus's transfer ratio and stripped Accor, Marriott and Qatar out of the Atlas, the TravelOne held its ground and improved: its direct, instant, no-cap 1:1 transfer into Accor ALL is the best Accor rate on any card you can simply apply for (HSBC Premier shares the same partner table but needs a banking relationship; Axis dropped Accor on 2 April 2026 and had it back by 25 September, but at 2:1 or worse outside its invite-only cards). It keeps uncapped access to 20 airline and hotel partners (15 airlines + 5 hotels, mostly 1:1). It earns 4 reward points per ₹100 on flights, travel aggregators and forex spends (accelerated rate capped monthly; direct hotel bookings earn the base rate) and 2 per ₹100 on most other spends — though utilities, fuel, insurance, education, government, rent and wallet loads earn nothing — and booking through HSBC's own Rewards Marketplace ("Travel with Points") portal lifts hotels to 6X (24 points/₹100) and flights to 4X (16 points/₹100), capped at 18,000 points/month — with 6 domestic and 4 international lounge visits a year and a 10,000-point milestone bonus on ₹12 lakh of annual spend. The one catch to be clear about: the forex markup is a standard 3.5% — this is a transfer-partner card, not a low-forex one, so for heavy overseas swiping pair it with a sub-1% forex card like the HSBC Premier. The ₹4,999 fee is reversed in full — GST included — once primary and add-on card spends together cross ₹8 lakh in a card anniversary year.
Why it stands out The 1:1 Accor transfer you can actually apply for; 20 partners, no transfer cap; 4 RP/₹100 on flights, travel aggregators & forex, up to 24 RP/₹100 on hotels via the Rewards Marketplace portal
Best suited for For the engaged international traveller who will transfer miles to partners and redeem well — especially Accor loyalists, for whom nothing else you can apply for in India matches its direct 1:1 route. Not for non-travellers or heavy overseas spenders (3.5% forex).
₹4,999/yr
annual fee · ≈ ₹5,899 incl. GST
● BEST FOR: 1.5% airline miles on Travel
Annual fee
Joining fee
Top reward
Welcome bonus
Fee waiver
Forex markup
Fuel waiver
SBI Card Miles Elite is the ₹4,999 flagship of SBI's Miles family, earning 6 Travel Credits per ₹200 on travel and 2 per ₹200 on everything else (about 1.5% and 0.5% at our 50-paisa value, up to 3% and 1% on good 1:1 transfers), with credits transferable to airline and hotel partners at up to ₹1 each. It pairs a low 1.99% foreign-currency markup with 8 domestic lounge visits a year, a complimentary Priority Pass (6 international visits, free for the first two years). A 5,000-credit welcome (on ₹1 lakh in 60 days) and a 20,000-credit milestone at ₹12 lakh reward volume, and the annual fee is fully reversed at ₹15 lakh of spend. Full value depends on transferring credits — catalogue redemption drops to ₹0.25 each.
Why it stands out 6 Travel Credits per ₹200 on travel (up to ~3% on 1:1 transfers) with a low 1.99% forex markup and Priority Pass
Best suited for For frequent flyers who spend ₹12 lakh or more a year on the card and transfer their credits to airline and hotel partners, and who value both domestic and international lounge access plus a low forex markup abroad.
₹12,500/yr
annual fee · ≈ ₹14,750 incl. GST
● BEST FOR: 2.4% reward points on all spends
Annual fee
Joining fee
Base reward
Welcome bonus
Fee waiver
Forex markup
Min income
The Axis Magnus is Axis Bank's premium EDGE Reward Points flagship (₹12,500 fee, renewal waived at ₹25 lakh), historically prized for points that transferred to airline and hotel partners at strong ratios. Three separate rounds did the damage: the transfer ratio was cut from 5:4 to 5:2 in September 2023; the annual transfer cap was split into Group A (100,000 points) and Group B (400,000) in April 2024; and in April 2026 Accor and Marriott were dropped as partners and the remaining milestone benefits discontinued. British Airways, Finnair, Vietnam Airlines Lotusmiles and IndiGo BluChip sit a rung worse still at 5:1 — as do Qatar Airways Privilege Club and Accor, both removed in the April 2026 cull and back in Axis's published table by 5 August and 25 September 2026 respectively, and Cathay Pacific, new to the table in September. Real return now sits around 1.2–2%. The separate "Magnus for Burgundy" is now a ₹30,000 product; Burgundy Private retains better ratios. Since 1 July 2026 Axis also issues the Magnus lifetime-free to customers onboarded on a Burgundy Salary account (at least one net salary credit of ₹2 lakh or more required), though that variant carries no welcome benefit.
Why it stands out Premium EDGE Reward Points card — but round after round of cuts, capped by the April 2026 partner cull, has dropped real return to ~1.2–2%
Best suited for This is your card if you book through Axis's own Travel EDGE portal — 5X there is 60 EDGE Reward Points per ₹200 on up to ₹2 lakh of portal spend a month — and if you clear ₹1.5 lakh a month, which is what unlocks the incremental 35/₹200 tier. MakeMyTrip, Goibibo and IRCTC carry no accelerator and earn the plain 12/₹200. Points transfer to Air India, Singapore Airlines and British Airways.
₹2,999/yr
annual fee · ≈ ₹3,539 incl. GST
● BEST FOR: 1% airline miles on Travel
Annual fee
Joining fee
Top reward
Welcome bonus
Fee waiver
Forex markup
Fuel waiver
SBI Card MILES PRIME is the ₹2,999 mid-premium sibling in SBI's Miles family, earning 4 Travel Credits per ₹200 on travel and 2 per ₹200 on other spends (about 1% and 0.5% at our 50-paisa value, up to 2% and 1% on good 1:1 transfers), with credits transferable to airline and hotel partners at up to ₹1 each. It carries a 2.50% forex markup, 8 domestic lounge visits a year and a complimentary Priority Pass with 4 international visits (free for the first two years). A 3,000-credit welcome (on ₹60,000 in 60 days) and a 10,000-credit milestone at ₹8 lakh reward steady spenders, and the annual fee is reversed at ₹10 lakh of spend. As across the family, value lives in transferring credits — catalogue redemption falls to ₹0.25 each.
Why it stands out 4 Travel Credits per ₹200 on travel (up to ~2% on 1:1 transfers) with Priority Pass and a fee reversal at ₹10 lakh spend
Best suited for For regular flyers spending ₹8–12 lakh a year who transfer credits to partners and want Priority Pass and a fee waiver, without the Elite's higher fee and ₹15 lakh reversal threshold.
₹3,000/yr
annual fee · ≈ ₹3,540 incl. GST
● BEST FOR: 2% airline miles on all spends
Annual fee
Joining fee
Base reward
Welcome bonus
Forex markup
Fuel waiver
The Axis Horizon is positioned as the successor to the discontinued Citi PremierMiles — a ₹3,000 travel card with no spend-based fee waiver. It earns 5 EDGE Miles per ₹100 on the Axis Travel EDGE portal and on direct airline bookings — hotels are an Atlas inclusion, not a Horizon one — and 2 per ₹100 on everything else, online travel agencies included. Its real draw is lounge access with no spend conditions: 32 domestic visits a year (8/quarter) plus 8 international (2/quarter) on Axis's own international lounge programme, opened with a USD 1 card transaction rather than through Priority Pass. Welcome is 5,000 EDGE Miles on ₹1,000 spend within 30 days, with a 1,500-mile renewal benefit from the second anniversary onwards. The April 2026 devaluation removed Accor and Marriott as transfer partners and left most of the rest at 1:1 (₹1/mile); British Airways, Finnair, IndiGo BluChip, Vietnam Airlines, Cathay Pacific and two partners cut in April and since restored — Qatar Airways Privilege Club (back by August 2026) and Accor (back by 25 September 2026) — convert at a weaker 2:1. Horizon carries its own transfer ceilings of 1,00,000 EDGE Miles a year to Group A partners and 4,00,000 to Group B, inside a 5,00,000 annual cap.
Why it stands out ₹3,000 travel card with unconditional lounge access (32 domestic + 8 international/year) and 5 EDGE Miles/₹100 on travel — the Citi PremierMiles successor
Best suited for For travellers who want generous, no-spend-gate lounge access and a simple miles earn, and don't mind the lack of a fee waiver.
₹1,499/yr
annual fee · ≈ ₹1,769 incl. GST
● BEST FOR: 0.5% airline miles on Travel
Annual fee
Joining fee
Top reward
Welcome bonus
Fee waiver
Forex markup
Fuel waiver
SBI Card MILES is SBI's flexible-miles entry — generic Travel Credits that transfer to 26 airline and hotel partners at up to ₹1 each, with no single-airline lock-in. The base MILES earns 2 Travel Credits per ₹200 on travel and 1 per ₹200 on other spend (about 0.5% and 0.25% at our 50-paisa value, up to 1% and 0.5% on good 1:1 transfers), with a 1,500-credit welcome, a 5,000-credit milestone at ₹5 lakh, and the ₹1,499 fee waived at ₹6 lakh. For the occasional flyer who wants travel rewards without the alliance homework, it is a sensible low-commitment start. The value hinges entirely on your willingness to transfer — catalogue redemptions crater to ₹0.25 and the travel portal pays ₹0.50, which is the value we model by default — and fuel, rent, utilities, wallet loads and insurance are excluded from earning. Frequent travellers will outgrow it for a deeper-partnered card.
Why it stands out Flexible Travel Credits transferable to 24 airline & hotel partners at up to ₹1 each — no airline lock-in
Best suited for For occasional flyers who want flexible, transferable travel rewards without committing to one airline. Transfer to partners for full value; frequent travellers will outgrow it for a deeper-partnered card.