This is a wiki post, so anyone with appropriate permissions can edit and make necessary changes.
Net Return:
= (Spend Rewards + Milestone Benefits + Welcome Benefits - Fee) / Spends
✅ Key Takeaways:
General Note:
Redemption calculations are assumptions for illustrative purposes and may vary. Please confirm specific terms directly with card issuers.
- EM: Edge Miles (Axis Rewards)
- RP: Reward Points (HDFC Rewards)
- FYF: First Year Free
- JF: Joining Fee
- LTF: Lifetime Free
- AF: Annual Fee
- BV: Brand Vouchers (e.g., Regalia Gold Milestone Benefit)
- SFV: SmartBuy Flight Voucher (e.g., Regalia Gold Milestone Benefit)
- 3Q/5Q: Quarters (for Regalia Gold milestones)
- TE: Travel Edge (Axis Travel Booking Platform)
- MP: Mile Point (Axis Redemption Value for EM)
Joining Fee and Benefits:
Category | Atlas | Horizon | Regalia Gold | TravelOne |
|---|---|---|---|---|
| Joining Fee | ₹5900 | ₹3540 | ₹2950 (or FYF/LTF) | ₹5900 |
| Welcome Benefit | 2.5K EM | 5K EM | ₹2500 Voucher (if fee paid) | ₹1000 Cashback + 3K RP (if spent 1L in 90 days) |
| Annual Fee | ₹5900 | ₹3540 | ₹2950 (or waived >₹4L spends) | ₹5900 (or waived >₹8L spends) |
| Renewal Benefit | Up to 5K EM (Tier based) 0 (Silver Tier) 2.5K EM (Gold Tier) 5K EM (Platinum Tier) | 1.5K EM | None (but waived for >₹4L) | 10K RP (>₹12L but fee waived for >₹8L) |
Spend Rewards:
Category | Atlas | Horizon | Regalia Gold | TravelOne |
|---|---|---|---|---|
| Travel (Airlines, Hotels and Travel EDGE)* | 5 EM/₹100 | 5 EM/₹100 | 4 RP/₹150 | 4 RP/₹100 (incl. travel aggregators) |
| Marks & Spencer, Myntra, Reliance Digital, Nykaa! | 2 EM/₹100 | 2 EM/₹100 | 20 RP/₹150 | 2 RP/₹100 |
| General | 2 EM/₹100 | 2 EM/₹100 | 4 RP/₹150 | 2 RP/₹100 |
| Accelarated Points | 5 EM/₹100 | 5 EM/₹100 | 20 RP/₹150 (Flights / Redbus / Vouchers / Apple / Myntra / Nykaa / MMT Holiday) 40 RP/₹150 (Hotels / IGP / Jockey / Pharmeasy) 12 RP/₹150 (Train) Upto 4000 RP per month | 16 RP/₹100 (Flights) 24 RP/₹100 (Hotels) Upto 18,000 RP per month |
Hi @hellowo₹ld I see few discrepancies in 1st post. Can you pls edit them.
In atlas, we get 5EM/100 on airlines and hotels booked from any portal, (just correct MCC needed) not just Axis Travel EDGE only, but in horizon, it's mentioned. 👇🏻
So, in horizon we won't be getting 5EM/100 on hotel bookings via any other portal or offline swipe at property??
Secondly, in HSBC Travel One, the 24X/100 on hotel bookings are given only, when it's booked thru HSBC own portal, but not from any portal unlike Atlas.
So kindly update them.
In atlas, we get 5EM/100 on airlines and hotels booked from any portal, (just correct MCC needed) not just Axis Travel EDGE only, but in horizon, it's mentioned. 👇🏻
So, in horizon we won't be getting 5EM/100 on hotel bookings via any other portal or offline swipe at property??
Secondly, in HSBC Travel One, the 24X/100 on hotel bookings are given only, when it's booked thru HSBC own portal, but not from any portal unlike Atlas.
So kindly update them.
Milestone Benefits:
Cumulative Spends | Atlas | Horizon | Regalia Gold | TravelOne |
|---|---|---|---|---|
| 1.5L Spends/Year | - | - | ₹1500 BV (1Q) | - |
| 3L Spends/Year | 2.5K EM | - | - | - |
| 5L Spends/Year | - | - | ₹4500 BV (3Q) + ₹5000 SFV = ₹9500 | - |
| 7.5L Spends/Year | 5K EM (Gold Tier) | - | ₹ 7500 BV (5Q) + ₹ 5000 SFV = ₹12.5K | - |
| 12L Spends/Year | - | - | - | 10K RP |
| 15L Spends/Year | 10K EM (Platinum Tier) | - | - | - |
Redemption Options:
Domestic Options | Atlas | Horizon | Regalia Gold | TravelOne |
|---|---|---|---|---|
| TravelEdge/SmartBuy | 1 EM = ₹1 | 1 EM = ₹1 | 1 RP = ₹0.50p | - |
| Accor, Marriott, Wyndham (Gr. A) AirIndia, ITC, IHG (Gr. B) | 2 EM = 1 MP (Marriott) 1 EM = 2 MP (Others) Group A: 30K EM Limit/Year Group B: 1.2L EM Limit/Year | 1 EM = 1 MP Group A: 1L EM Limit/Year Group B: 4L EM Limit/Year | 1 RP = up to 0.5 MP (Accor, Wyndham) | 1 RP = ₹1 |
| Products/Vouchers | 1 EM = ₹0.20p | 1 EM = ₹0.20p | 1 RP = upto ₹ 0.35p Gold Catelogue: 1 RP = 0.65p | - |
| Statement Credit | - | - | 1 RP = ₹0.20p | - |
Lounge Access:
Location | Atlas | Horizon | Regalia Gold | TravelOne |
|---|---|---|---|---|
| Domestic | 8 (Silver), 12 (Gold), 18 (Platinum) | 32 visits (VISA), 24 visits (MC) | 12 visits | 6 visits |
| International | 4 (Silver), 6 (Gold), 12 (Platinum) | 8 visits | 6 visits | 4 visits |
Exclusions:
- Atlas: Jewlry, Rent, Govt., Insurance, Fuel, Utilities, Wallet
- Horizon: Rent, Govt., Insurance, Fuel, Utilities, Wallet, Education, Transportation & Toll
- Regalia Gold: Rent, Govt., Wallet
- TravelOne: Jewlry, Rent, Govt., Insurance, Fuel, Utilities, Wallet, Education
Net Return:
🔎 How to Read This:
- Left % = Max achievable return (strategic usage, travel partners, milestone benefits, accelarated points).
- Right % = Minimum return (basic redemptions with plain spends).
- — = No defined milestone/reward for that spend level.
Ranges in percentage (e.g., 9.4% to -0.27%) explain best-to-worst-case returns (possible return on your spending after factoring in joining fees, and milestone bonuses for specific spending levels).
- Left Value (e.g., 9.4%)
- This is the maximum reward rate achievable through optimal usage, like earning on Travel Edge purchases and redeeming at a high value (e.g., 1 mile = 2 INR). This rate takes effort but can be reached with strategic spending.
- Right Value (e.g., -0.27%)
- This is the minimum achievable rate through regular spending and basic redemption (e.g., 1 mile = 1 INR). This is straightforward and possible for all cardholders.
- So, for any given spending amount, you can expect a reward rate between these two values. The lower end is your minimum return, while the upper end is achievable with careful planning.
= (Spend Rewards + Milestone Benefits + Welcome Benefits - Fee) / Spends
| Cumulative Spends / Year | Atlas (1 EM = ₹2 → ₹1) | Horizon (1 EM = ₹1) | Regalia Gold (1 RP = ₹0.50) | TravelOne (1 RP = ₹1) |
|---|---|---|---|---|
| ₹1.5L | 9.4% → -0.27% | 5.97% → 2.97% | 13.03% → 2.03% | 22.73% → 2.73% |
| ₹3L | 11.36% → 1.7% | 5.48% → 2.48% | 7.01% → 1.68% | 23.36% → 2.36% |
| ₹5L | 10.82% → 1.82% | 5.29% → 2.29% | 8.47% → 3.14% | 23.62% → 2.62% |
| ₹7.5L | 11.21% → 2.21% | — | 8.27% → 2.94% | 23.74% → 2.14% |
| ₹12L | — | — | — | 19.67% → 2.67% |
| ₹15L | 11.27% → 2.44% | — | — | — |
Cumulative Spends | Atlas (1 EM = ₹2 to ₹1) | Horizon (1 EM = ₹1) | Regalia Gold (1 RP = ₹0.50p) | TravelOne (1 RP = ₹1) |
|---|---|---|---|---|
| 1.5L Spends/Year | 10K EM to 5.5K EM - 5.9K Fee (JF) = 9.4% to -0.27% | 12.5K to 8K EM - 3540 Fee (JF) = 5.97% to 2.97% | 40K RP to 4K RP - 450 Fee (JF) = 13.03% to 2.03% | 36K RP to 6K RP - 1900 Fee (JF) = 22.73% to 2.73% |
| 3L Spends/Year | 20K EM to 11K EM - 5.9K Fee (JF) = 11.36% to 1.7% | 20K to 11K - 3540 Fee (JF) = 5.48% to 2.48% | 40K RP to 8K RP - 450 Fee (JF) = 7.01% to 1.68% | 72K RP to 9K RP - 1900 Fee (JF) = 23.36% to 2.36% |
| 5L Spends/Year | 30K EM to 15K EM - 5.9K Fee (JF) = 10.82% to 1.82% | 30K to 15K - 3540 Fee (JF) = 5.29% to 2.29% | 66.67K RP to 13.33K RP - 450 Fee (JF) = 8.47% to 3.14% | 120K RP to 13K RP - 1900 Fee (JF) = 23.62% to 2.62% |
| 7.5L Spends/Year | 45K EM to 22.5K EM - 5.9K Fee (JF) = 11.21% to 2.21% | - | 1L RP to 20K RP - 450 Fee (JF) = 8.27% to 2.94% | 180K RP to 18K RP - 1900 Fee (JF) = 23.74% to 2.14% |
| 12L Spends/Year | - | - | - | 238K RP to 47K RP - 1900 Fee (JF) = 19.67% to 2.67% |
| 15L Spends/Year | 87.5K EM to 42.5K EM - 5.9K Fee (JF) = 11.27% to 2.44% | - | - | - |
✅ Key Takeaways:
- Horizon → Best for small-medium spends (<₹3L) and simple 1:1 EM redemption.
- Atlas → Great for heavy spenders who maximize travel partner conversions (1:2 MP).
- Regalia Gold → Balanced, good milestone rewards up to ₹7.5L; flexible redemption.
- TravelOne → Strong for flight/hotel spends; shines at higher spend levels.
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