HSBC Live+ Credit Card Review - The Best HSBC Credit Card In The Market
- Abhijeet Saxena
- Dec 2, 2024
- 3 min read
HSBC Live+ Credit Card has been ranked as the best HSBC credit card in our AI-powered unbiased ranking scale. You can check all of the high-scoring credit cards here. The HSBC Live+ Credit Card has certain unique features withich makes it stand out in a crowded market, and this review will provide insight into its features. We will explore its benefits, potential drawbacks, fees, and the eligibility requirements that come into play.
Benefits of the HSBC Live+ Credit Card
The HSBC Live+ Credit Card offers several features that make it an appealing option for many users. Let's take a closer look at its key benefits:
Reward Points Accumulation
Creditcard holders will get 10% cashback on all dining, food delivery and grocery spends (capped at up to INR 1,000 per billing cycle).
1.5% unlimited cashback on most other spends.
20% off on purchases of INR 3,000 and over at Myntra, this offer is valid until 31 December 2024 and the discount can be used once per card per calendar month during the offer period, up to a maximum discount of INR1,000 per month.
Welcome Benefits
Creditcard holders will get INR 1,000 cashback when they download and log on to the HSBC India Mobile Banking app and spend INR 20,000 within the first 30 days of getting the card and an INR 250 Amazon e-gift voucher when they apply for the card online and complete video KYC ("VKYC").
Other Benefits
4 complimentary domestic lounge visits per year (1 per quarter).
The annual membership fee of INR 999 will be waived if the user spends over INR 200,000 per year.
Additional benefits like- 1. Zero card lost liability. 2. Emergency Card replacement. 3. Insurance benefits. 4. Globally accepted card.
Cons Of HSBC Live+ Credit Card
Though the HSBC Live+ Credit Card has attractive benefits, it also comes with some limitations. Here’s what to consider:
The general cashback rate is low.
No international lounge access facility is available.
No free movie tickets.
Fees and Charges Associated with the HSBC Live+ Credit Card
Joining Fee-NIL,
Annual Fee-INR 999 + GST
Cash advance fee: 2.5% of the cash withdrawn or Rs 500. (Whichever is higher).
Interest Rates: 3.49% per month (41.88% per annum).
Late payment fee (Charged if minimum amount due does not reach HSBC within 3 days of payment due date- Subject to a minimum of `250 and a maximum of `1,200 per month.
Foreign Currency Transactions Fees: 3.5%.
Reward Redemption Fees: NIL
Eligibility Criteria for the HSBC Live+ Credit Card
Understanding the eligibility requirements is crucial for prospective applicants. Here is what you need to know:
Age Requirement
You must be aged between 18 to 65
Income Criteria
Having a stable income is necessary, and the minimum income requirement is INR 400,000 per annum (for salaried individuals).
Credit Score
A solid credit score, is essential for approval. HSBC website does not specify the minimum cibil score threshold.
Final Thoughts
The HSBC Live+ Credit Card punches above its weight by offering 10% cashback on certain select spends. This 10% cashback is the USP of the card. Overall also HSBC Live+ is a decent package with a relaxed eligibility criterion. It is well suited for youth and individuals who are looking for an all-rounder credit card.
By considering all aspects of the card — its strengths, weaknesses, and application process — individuals can make informed choices about whether the HSBC Live+ Credit Card fits their financial lifestyle. A well-informed decision can lead to better financial outcomes, making it essential to assess the card against personal spending habits and financial goals.
If you want to read a more detailed review of this card and find out its AI-powered unbiased rating click here.
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