HSBC Live+ Credit Card Review 2026: 10% Cashback, Real Value?

HSBC Live+ is one of the strongest everyday cashback cards in India right now. It pays 10% on dining and food delivery, groceries, utilities and most online shopping, each capped at ₹1,000 a month, plus 1% on everything else. Add Visa Infinite lounge access and a low 1.99% forex markup, and it's a rare card that handles daily spend and occasional travel. The catches: Amazon, Flipkart and Myntra are excluded from the 10%, and you need ₹1 lakh a month in income to qualify.

Who this card is for

HSBC Live+ suits salaried professionals earning ₹1 lakh a month or more who:

• Spend regularly on restaurants and food delivery apps
• Buy groceries every month, online or offline
• Pay electricity, mobile, broadband and other utility bills by card
• Shop online at stores other than Amazon, Flipkart and Myntra
• Travel abroad a couple of times a year

If most of your online shopping is on Amazon or Flipkart, a co-branded card for that platform will beat Live+ in that category.

Fees and waiver

Item	Detail
Joining fee	₹999
Annual fee	₹999
Fee waiver spend	₹2,00,000 a year
Forex markup	1.99%
Network	Visa Infinite
Minimum monthly income	₹1,00,000

BestCard's data lists ₹2 lakh as the waiver spend, about ₹16,700 a month. Some HSBC material has quoted a higher threshold, so check the current figure with HSBC. If the fee isn't waived, ₹999 plus 18% GST costs ₹1,179 a year, which most users will recover in the first month. All figures here reflect BestCard's latest card data; issuers change terms, so verify on HSBC's site before applying.

Reward structure

Category	Cashback	Monthly cap
Dining and food delivery	10%	₹1,000
Groceries	10%	₹1,000
Utilities	10%	₹1,000
Online shopping (excl. Amazon, Flipkart, Myntra)	10%	₹1,000
Everything else	1%	None listed

Each cap is separate. To max out a category you need ₹10,000 of spend in it a month, and maxing all four gives ₹4,000 a month, or ₹48,000 a year.

Worked example: ₹40,000 a month

Split: ₹6,000 dining, ₹8,000 groceries, ₹4,000 utilities, ₹6,000 eligible online shopping, ₹6,000 on Amazon and Flipkart, ₹10,000 other.

• Dining: 10% of ₹6,000 = ₹600
• Groceries: 10% of ₹8,000 = ₹800
• Utilities: 10% of ₹4,000 = ₹400
• Eligible online: 10% of ₹6,000 = ₹600
• Amazon and Flipkart: 1% of ₹6,000 = ₹60
• Other: 1% of ₹10,000 = ₹100
• Total: ₹2,560 a month, or ₹30,720 a year

Worked example: ₹20,000 a month

Split: ₹3,000 dining, ₹5,000 groceries, ₹3,000 utilities, ₹9,000 other.

• ₹300 + ₹500 + ₹300 + ₹90 = ₹1,190 a month, or ₹14,280 a year

Even at moderate spend, that's about 6% overall, far above typical cashback cards. Annual spend is ₹2.4 lakh, so the fee is waived on BestCard's listed threshold.

Read the merchant category rules carefully. Cashback depends on how a merchant is coded, and some payments (wallet loads, rent, fuel) are commonly excluded on cashback cards. Our guide to cashback exclusions explains what to look for.

Lounge, travel and other benefits

• Lounge access: complimentary domestic and international airport lounge access through the Visa Infinite programme. Visit counts and conditions are set by the programme, so check the current allowance with HSBC.
• Forex markup: 1.99%, well below the 3.5% common on cashback cards. On ₹1 lakh of foreign spend, that's ₹1,990 in markup instead of ₹3,500, a saving of ₹1,510 before GST.
• Network: Visa Infinite, which can bring additional network-level offers.

The card moved to Visa Infinite in mid-2026. For a broader look at cards on this network, see our Visa Infinite cards guide.

Pros and cons

Pros

• 10% cashback across four everyday categories, each with its own ₹1,000 cap
• Up to ₹4,000 a month in accelerated cashback
• Low 1.99% forex markup
• Domestic and international lounge access via Visa Infinite
• Modest ₹999 fee

Cons

• Amazon, Flipkart and Myntra excluded from the 10% online rate
• Separate monthly caps mean heavy spenders hit ceilings fast
• ₹1 lakh monthly income requirement shuts out many younger earners
• Worth confirming HSBC sources cards in your city before applying

Eligibility

BestCard's data lists a minimum monthly income of ₹1,00,000. HSBC's presence is smaller than the large Indian banks', so confirm it issues cards in your city. A good credit score and clean repayment history will help.

How it compares

SBI Cashback: 5% on all online spends including Amazon and Flipkart, capped at ₹2,000 a month, and 1% offline, for ₹999 waived at ₹2 lakh. It needs only ₹25,000 a month in income. Better if Amazon and Flipkart are your main stores; Live+ wins on dining, groceries and utilities. See our HSBC Live+ vs SBI Cashback comparison and the SBI Cashback card page.

HDFC Swiggy BLCK: 10% on Swiggy (capped at ₹2,000 a month) and 5% on online shopping (capped at ₹1,500), for ₹1,000 waived at ₹2 lakh, with a ₹25,000 income bar. Better for heavy Swiggy users; Live+ covers more categories.

Axis ACE: 5% on utility bills (capped at ₹500 a month), 4% online and 2% on everything else, for ₹499 waived at ₹2 lakh, with a ₹15,000 income bar. A good alternative if you don't meet HSBC's income requirement. Details on the Axis ACE card page.

Verdict

HSBC Live+ is an excellent cashback card for higher earners whose spending is spread across dining, groceries, bills and non-Amazon online shopping. At ₹40,000 a month it can return over ₹30,000 a year, and the low forex markup and lounge access add real value for occasional travellers. Pair it with an Amazon or Flipkart co-brand card to cover the excluded platforms.

If you don't meet the ₹1 lakh income bar, look at Axis ACE or SBI Cashback instead. The BestCard card matcher can shortlist cards based on your income and spending.