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HSBC Live+ (Previously Cashback) Credit Card: Elevate Everyday Spending

  • Thread starter Thread starter helloworld
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helloworld

helloworld

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Key Features​


1693581653195.png

  • 10% Cashback on Grocery, Dining & Food Delivery (MCC) :hamburger:
    • Categories: Grocery, Dining, Swiggy/Zomato & Food Delivery
    • Cashback cap: ₹1000 per statement (limit reached if spent ₹10,000) after that 0%.
  • 1.5% Cashback on All Other Spends :partyface:
    • No Cap on the cashback amount
    • Exclusions :shushing-face:
      • Fuel | Rent | Utilities | Government Transactions | e-Wallets | Insurance | Education | B2B Goods & Services | Jewelry | Charity | Toll Fees | Cash Advances | Outstanding Balance Payments | Card Fees & Other Charges
  • Additional Benefits :clapper-board::airplane:
    • BookMyShow: Buy 1 Get 1 Free on Saturdays (when booked through the app)
    • EasyDiner: 15% discount (up to ₹500, with a minimum spend of ₹2500).
    • Airport Lounge Access: 4 domestic lounge visits per year (no spend criteria)
    • Annual Fee: ₹999 (waived on spending ₹2 lakhs in a year)

Oct'24 Update: Cashback is credited in about 3 working days after the statement date.

Sample 10% Eligible MCCs (Reference Purpose Only):

1714499138175.png


Store/App (eligible for 10%* double check incase)MCC
DMart5411
Reliance Smart Superstore5411
JioMart (online)5411
Vijetha Super Market5411
Reliance Smart5722
Amzn Fresh5399
Flipkart GroceryEnsure "Flipkart Grocery" (5411) on OTP Page
Cashfree Gateway5499
Swiggy5499
CountryDelight5499
Tataneu Food Delivery5499
Tataneu Grocery5411
FTH Daily
Zomato
BB Daily
Zepto
BigBasketInnovative Retail
Flipkart Minutes

Mall Food courts, Nearby grocery stores, Supermarkets, Swiggy Instamart, EasyDiner, Restaurants, KFC, Dominos and DMart - working for 10% cashback (provided they have proper MCC).

Note: The transactions for each category are identified through Merchant Category Codes* (MCC), defined by the Network, e.g. Visa, MasterCard and RuPay.

This card is alternative to or as backup:

1.5% offline - Alternative to Ace 1.5% Card
10% grocery and food delivery (online) - Alternative to Airtel 10% Card
10% dining (offline) - Alternative to Zenth 5% Card

Exclusion MCC List:

1701620051864.png
1718468905805.png

Realistic Return %​

Note: An example scenario

Spend: 7000 per month (2k/3k Dining/Food, 4k/5k Grocery) = 84000
Paid annual fee: 1180
Get cashback: 8400
Return %: 8.5%

References:
 
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naruto01 said:
Did they ask for any verification or proof of income?
Click to expand...
Yes, as I mentioned earlier, they check application properly, which means whatever I mentioned as must is verified properly that can even weed out faked documents
Only salaried can apply and thus they make sure that the proof is valid.

You are asking this question again means you are likely thinking of alternative ways.
This wont be the first time and people tried fooling HSBC earlier, only to be disappointed. Sharing few as there are many examples in this forum:

D

Post in thread 'HSBC Closed my Credit Card - Discussion'

As a self employed individual, while applying for an HSBC credit card, I had provided a fake salary slip and also faked my bank statement with salary credit entry. The credit card application was consequently declined. Can HSBC bank blacklist me for this? Also will it affect my future credit card applications from different banks?
  • Haha

Q

Thread 'Help! Stuck with HSBC Live Credit Card Application'

Hey Technofino fam,

I need some quick help here! I applied for the HSBC Live Credit Card on a card-to-card basis (yeah, I thought it’d be easy-peasy since I have an Axis Bank credit card with a good limit). But guess what? I selected salaried and entered my salary details.

Now, HSBC called me up and said, “Boss, we need your salary slip and bank statement.” They’re not accepting my credit card statement, which was my whole plan in the first place!

Now I’m stuck. What should I do to get this card approved? Is there any way out, or do I have to start all over again?

Any advice would be a...
 
Upvote 0 Downvote
How is cashback credited for this card?

Is this credited to account like Amazon Pay/Amex (can adjust against next bill/during payment)?

Or is this nornal rweard points equivalent (need to spend in their reward point shop)?
 
Upvote 0 Downvote
Shinnok said:
How is cashback credited for this card?

Is this credited to account like Amazon Pay/Amex (can adjust against next bill/during payment)?

Or is this nornal rweard points equivalent (need to spend in their reward point shop)?
Click to expand...
As in the name, it is a cashback card and not reward.
The cashback is added as "Credit" in the account.

HSBC Live + eg: Spend Rs 100. Cashback Rs 10 . Outstanding Rs 90.

Also as you mentioned Amazon Pay credit card, technically Amazon pay is not a cashback card as the reward is credited to amazon account and is not adjusted in the bill. For HSBC, its adjusted in the bill.

Another example of change in reward to cashback is HDFC Swiggy card, which used to be a rewards card (reward as swiggy money) but later became cashback card (reward adjusted in statement, making in cashback).
 
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IDontThinkSo said:
As in the name, it is a cashback card and not reward.
The cashback is added as "Credit" in the account.

HSBC Live + eg: Spend Rs 100. Cashback Rs 10 . Outstanding Rs 90.

Also as you mentioned Amazon Pay credit card, technically Amazon pay is not a cashback card as the reward is credited to amazon account and is not adjusted in the bill. For HSBC, its adjusted in the bill.

Another example of change in reward to cashback is HDFC Swiggy card, which used to be a rewards card (reward as swiggy money) but later became cashback card (reward adjusted in statement, making in cashback).
Click to expand...
Is there any limit on cashback validity? For example, if cashback is Rs 1000, and monthly spend is Rs 90, does Rs 910 get forwarded to next month?

And any idea if the cashback is taxable?
Vaguely remember there used to be some limit after which cash reward was considered taxable, but this did not apply to points system
 
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Shinnok said:
Is there any limit on cashback validity? For example, if cashback is Rs 1000, and monthly spend is Rs 90, does Rs 910 get forwarded to next month?

And any idea if the cashback is taxable?
Vaguely remember there used to be some limit after which cash reward was considered taxable, but this did not apply to points system
Click to expand...
No you cannot carry over cashback. It is per statement.
 
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b4bhar said:
cashback is credited per statement, but once credited to your account it never expires.
Click to expand...
Think you misunderstood. His question is if he can carry over unused cashback to the next statement. Suppose he earns 500 in one statement. He wants to know if he can earn 1500 (500 unused from previous statement + 1000 from current statement) in the next statement.
 
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Shinnok said:
How is cashback credited for this card?
Click to expand...

helloworld said:
Oct'24 Update: Cashback is credited in about 3 working days after the statement date.
Click to expand...

Shinnok said:
Is this credited to account like Amazon Pay/Amex (can adjust against next bill/during payment)?

Or is this nornal rweard points equivalent (need to spend in their reward point shop)?
Click to expand...

its cashback and its like Ace, Flipkart, (now) Swiggy, Airtel, SBI Cashback etc. adjusted to next month bill.

Shinnok said:
Is there any limit on cashback validity? For example, if cashback is Rs 1000, and monthly spend is Rs 90, does Rs 910 get forwarded to next month?
Click to expand...

yes, it will be carry forwarded until u use it. Same for above mentioned cards.

Shinnok said:
And any idea if the cashback is taxable?
Vaguely remember there used to be some limit after which cash reward was considered taxable, but this did not apply to points system
Click to expand...

this is not yet implemented in India. BOth cashback or reward redemption.
 
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Shinnok said:
Is there any limit on cashback validity? For example, if cashback is Rs 1000, and monthly spend is Rs 90, does Rs 910 get forwarded to next month?
Click to expand...
It seems you are misunderstanding cashback.

Cashback is "credit" to the account, and is adjusted to the account balance, just like bill payment.

For better understanding, take analogy of salary/savings account:
Account balance: Rs 100

Debit: Rs 100 (ATM withdrawal)
Account Balance: 0

Credit: (+) Rs 25000 (Salary credit)
Account Balance: (+) Rs 25000

Does this 25K has validity in your salary account? No

Now think of same scenario with credit card account.
Account balance: 0

Debit: Rs 100 (paid for eggs)
Account Balance: -90

Credit: (+) Rs 1000 (cashback from previous month)
Account Balance: (+) Rs 910

This 910 is account balance and any debit/credit will be adjusted against this amount.
This is how cashback cards work.

Shinnok said:
And any idea if the cashback is taxable?
Vaguely remember there used to be some limit after which cash reward was considered taxable, but this did not apply to points system
Click to expand...
Cashback can be considered gifts, so their taxable nature depends on who is receiving the cashback.

If business is getting the cashback, it needs to adjust expenses based on how cashback was received.

For individual, if cashback (gift) is < 50K, its tax exempt, otherwise ...
 
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IDontThinkSo said:
Yes, as I mentioned earlier, they check application properly, which means whatever I mentioned as must is verified properly that can even weed out faked documents
Only salaried can apply and thus they make sure that the proof is valid.

You are asking this question again means you are likely thinking of alternative ways.
This wont be the first time and people tried fooling HSBC earlier, only to be disappointed. Sharing few as there are many examples in this forum:
Click to expand...
Recently, HSBC Bank in India experienced a significant credit card fraud, losing ₹1.26 crore through 38 credit cards issued without proper verification, using fake documents and online applications.
  • Fraudulent Activity: HSBC Bank was allegedly defrauded of ₹1.26 crore through 38 credit cards issued without proper verification of documents.
  • Method of Fraud: Fraudsters obtained 55 credit cards by submitting Aadhaar and PAN numbers created with forged documents, and 38 of those cards were used to withdraw the money.
  • How it was discovered: The bank identified the issue during a routine analysis of credit card usage and payments within the usual 45-day period.
  • Fake Applications Traced to Assam
https://economictimes.indiatimes.co...1-26-crore/articleshow/116441081.cms?from=mdr
 
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TrueColours said:
Recently, HSBC Bank in India experienced a significant credit card fraud, losing ₹1.26 crore through 38 credit cards issued without proper verification, using fake documents and online applications.
  • Fraudulent Activity: HSBC Bank was allegedly defrauded of ₹1.26 crore through 38 credit cards issued without proper verification of documents.
  • Method of Fraud: Fraudsters obtained 55 credit cards by submitting Aadhaar and PAN numbers created with forged documents, and 38 of those cards were used to withdraw the money.
  • How it was discovered: The bank identified the issue during a routine analysis of credit card usage and payments within the usual 45-day period.
  • Fake Applications Traced to Assam
https://economictimes.indiatimes.co...1-26-crore/articleshow/116441081.cms?from=mdr
Click to expand...
Good that they were able to find it within 1.26 crore of all total transactions.

Scammers apply in all the banks and banks should improve their process to find out such anomalies.

If people wants to experiment with the known application process, sure, go ahead and try.
 
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b4bhar said:
Hsbc has a 6 digit pin unlike the other banks which only has 4 digits pin
Click to expand...
Yeah this irritated me cos I gv my parents to use this. Since usually it's 4 for all cards n this alone is 6 they get confused what pin they shld give n call me if txn fails cos they forget if that's a 4 or 6 digit
 
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