HSBC Live+ Review: How Does it Compare to the HSBC Platinum Visa?

HSBC is known for credit cards with generous and practical perks and privileges—the new HSBC Live+ Credit Card proves just that. 

The HSBC Live+ Credit Card is the upgraded version of the HSBC Platinum Visa Rebate. Just like its old version, it earns cashback. However, this new iteration offers more exciting features. 

Want to know if the HSBC Live+ Credit Card is for you? Check out this review. 

HSBC Live+: Key Features

Here are the HSBC Live+ Credit Card’s key features: 

• Annual fee: ₱5,000
• Interest rate: 3%
• Minimum monthly income requirement: ₱200,000
• Cash advance fee: ₱200 per transaction
• Late payment fee: ₱1,500 or unpaid minimum amount due, whichever is lower
• Overlimit fee: ₱800
• Foreign transaction fee: 2.5% plus 1% assessment fee charged by Visa
• Card replacement fee: ₱400 per card

❓ What’s the Credit Limit of the HSBC Live+? 

The HSBC Live+’s credit limit depends on various factors like your income, credit history, and experience with credit cards. Just manage your expectations—those new to HSBC may get a low credit limit. 

But don’t worry! If you prove to the bank that you’re a responsible cardholder, you can apply for a higher credit limit. So pay your bills on time and keep your credit utilization ratio in check.^[1]

❓ Who is the HSBC Live+ Ideal for? 

The HSBC Live+ Credit Card is designed for big spenders who want to earn cashback. Its rebate system earns cashback across different spending categories like dining, shopping, entertainment, and more. 

Given the spending categories, this credit card is ideal for those who lead fun and fast-paced lifestyles—foodies who love exploring the hottest new restaurants, fashionistas who frequent shopping malls, and movie aficionados who love going to cinemas. 

Read more: HSBC Credit Card Application: 4-Step Guide for First-Timers

HSBC Live+ Review: Reasons to Get This Card

The appeal of the HSBC Live+ Credit Card lies in the following: 

👍 Welcome Offer for New Cardholders 

Apply for this card via Moneymax to receive an exciting welcome gift of your choice. Learn more below:

👍 Waived Annual Fee for the First Year

Want to give the HSBC Live+ Credit Card a try before you commit to it? Thankfully, HSBC waives its annual fee for the first year. This means you get to save money that you would have otherwise spent on the yearly membership fee. 

👍 Up to ₱22,200 Worth of Cashback Yearly

Earn rebates on the following spending categories. Note that the cashback amount varies depending on the category:

• Dining - Up to 8%
• Online and offline shopping - 5% 
• Entertainment (such as movies, streaming platforms, and amusement parks) - 5% 
• Fast food and applicable merchants - 2% 
• Caltex transactions - 6% on your first transaction; 3% all year round

To be eligible for accelerated cashback rates of 8%, 5%, and 2% at applicable merchants, meet the minimum accumulated spend of ₱10,000 using your HSBC Live+ Credit Card that month.

Here’s how you can accumulate rebates:

• 8% cashback - Up to ₱1,250 per month or up to ₱15,000 per year
• 3% Caltex rebates - Up to ₱600 per month or up to ₱7,200 per year

👍 Access to Exclusive Offers and Services

The HSBC Live+ Credit Card is a key that unlocks a world of perks and privileges. Enjoy them via the following programs: 

• Live+ Dining Programme – Get discounts of up to 15% at more than 200 restaurants across Asia. Countries include the Philippines, Indonesia, Taiwan, Singapore, and more.^[2]  
• Visa Concierge – Since the HSBC Live+ Credit Card is Visa-branded, you can access Visa Concierge to get travel recommendations, reserve a table at a restaurant, make arrangements at international events, and more. 

👍 Free Travel Insurance 

Going on a vacay here or abroad? Charge your travel fare to your HSBC Live Credit Card and enjoy up to ₱10 million travel insurance. 

Ready to apply? Get started below:

HSBC Live+ Credit Card

Read more: What are the Requirements for Getting a Credit Card in the Philippines?

HSBC Live+ Review: Disadvantages

If you want to look at the other side of the coin, here are the drawbacks of the HSBC Live+ Credit Card:

👎 Doesn’t Earn Points 

If you’re the type of cardholder who loves collecting points, the HSBC Live+ isn’t for you.

It doesn’t earn points that you can exchange for different rewards like airline miles, gift vouchers, or merchandise. 

👎 Limit on Spending Categories 

You won’t earn rebates if you use your HSBC Live+ card on the following spending and transaction categories:

• Utilities
• Fuel 
• Insurance
• Betting and gambling
• Education and government
• Real estate
• Toll Fees
• Charity
• Legal
• Financial/quasi cash
• Drug stores and pharmacies
• Balance transfer
• Cash advance
• Auto-charge
• Bills payment transactions via HSBC online
• Cash Installment Plan and Straight to Installment
• Fees and charges

👎 Expensive Annual Fee 

After enjoying the waived annual fee in the first year, you’ll need to cover it moving forward. It costs ₱5,000, which is quite expensive for many.

👎 Existing Card Requirement 

The minimum annual income requirement of ₱200,000 per year (or ₱16,700 per month) is relatively accessible, allowing low-income earners to apply for the card and enjoy its benefits. 

That said, the card is not meant for credit card newbies. The HSBC Live+ requires applicants to hold a primary credit card issued in the Philippines for at least six months. 

👎 Conditional High Rebate Rates

By default, HSBC Live+ earns 0.2% cashback on all eligible transactions. You’ll earn 8% for dining and 5% for shopping and entertainment only when you spend at least ₱10,000 in a statement cycle. 

Top Alternatives to the HSBC Live+ Credit Card

Don’t think the HSBC Live+ Credit Card is for you? Here are some alternatives: 

U Visa Platinum

If you want to try a cashback credit card without the burden of annual fees, check out the UnionBank U Visa Platinum. It also doesn’t have late payment and overlimit fees, so you don’t have to worry about missing your due date or going over your credit limit. 

For the rebate, you get 10% back on interest charges as long as you pay the minimum due on or before the due date. 

UnionBank Cash Back Visa Platinum 

Want cashback on more practical spending categories? You can use the UnionBank Cash Back Visa Platinum to buy groceries and pay for utilities while earning rebates. 

You can earn up to 6% rebate on supermarket purchases, 2% on Meralco bill payments via UnionBank Online, and 0.20% on all other purchases. The UnionBank Cash Back Visa Platinum lets you save as much as ₱15,000 per year.

The best thing about this card’s cashback is it doesn’t expire. You can use it anytime you want. 

BPI Amore Platinum Cashback 

The BPI Amore Platinum Cashback card is fit for both shopaholics and foodies. It earns 4% cashback on restaurant and food delivery transactions; 1% on supermarket, grocery, and department store spend; and 0.3% on all other transactions (local, international, in-store, and online). Those who frequent Ayala Malls can enjoy a 5% discount on movie tickets and unlimited access to exclusive customer and family lounges. 

This card also benefits jetsetters since it has a low forex conversion rate of 1.85%. 

Read more Improve Your Chances of a BPI Credit Card Approval With These Tips

Metrobank Cashback Card 

The Metrobank Cashback Card lets you earn up to 5% rebates on essentials. Just like other rebate cards, the cashback amount depends on the spending categories. 

With this card, you can earn a 5% rebate on groceries, telecom, school, and bookstore spend; and 0.20% on all other purchases. Ultimately, this will save you up to ₱12,000 per year. 

Read more: How to Apply for a Metrobank Credit Card Online: Requirements and More

Final Thoughts 

The HSBC Live+ Credit Card is an exciting food, shopping, and movie buddy. Other than rebates, this card offers access to exclusive dining deals across Asia and concierge services. It’s the perfect card for those who want to enjoy life to the fullest!

Sources: 

• ^[1] Credit Utilization Ratio: Definition, Calculation, and How To Improve (Investopedia, 2023)
• ^[2] HSBC Live+ Dining Programme