SBI Cashback Credit Card vs HSBC Live Plus Credit Card
Last Updated : March 29, 2025, 6:01 p.m.
In the ever-evolving landscape of credit card offerings, cashback cards have gained significant popularity among consumers seeking to maximize their spending rewards. Two prominent contenders in this category are the SBI Cashback Credit Card and the HSBC Live Plus Credit Card. Both cards promise attractive cashback benefits, but they differ in their reward structures, annual fees, and additional perks. This comprehensive comparison aims to delve into the key features of these cards, helping potential applicants make an informed decision based on their spending habits and financial goals. By examining the nuances of each card's offerings, we'll explore which option might be the better fit for various types of consumers in the Indian market. After deciding on which credit card to apply for, check your CIBIL score on Wishfin for free as it is a very important eligibility criteria.
Comparing the SBI Cashback Credit Card and the HSBC Live Plus Credit Card Based on Core Features
| Feature | SBI Cashback Card | HSBC Live Plus Credit Card |
|---|---|---|
Cashback | 5% cashback on online spends without any merchant restrictions 1% cashback on offline spends |
|
Annual Fee | Rs. 999 (waived on annual spend of Rs. 2 lakh) | Rs. 999 |
Annual fee waiver | Waived on spending an amount equal to or More than INR 200,000 per year. | Waived on spending more than INR 200,000 per year. |
Fuel Surcharge Waiver | 1% (up to Rs. 100 per statement cycle) | Get a fuel surcharge waiver of 1% across Fuel pumps in India |
Welcome bonus | Not applicable | Get a cashback of INR 1,000 as welcome bonus upon spending Rs. 20,000 within the first 30 days of getting the card. |
Reward Points | Not applicable (direct cashback) | Earn points on purchases |
Cashback Cap | Rs. 5,000 per monthly statement cycle | Not specified |
Lounge access | Not applicable | 4 free domestic airport lounge visits per year (One in every quarter). |
Global Acceptance | Yes (Visa network) | Yes (Mastercard network) |
Add-on Cards | Available | Available |
SBI Cashback Credit Card vs HSBC Live Plus Credit Card - Detailed Comparison
Cashback Benefits
- SBI Cashback Credit Card:
- Offers 5% cashback on all online purchases without any merchant restrictions
- 1% cashback on all offline purchases
- Maximum cashback of Rs. 5,000 per monthly statement cycle
- HSBC Live Plus Credit Card:
- Specific percentages as mentioned in the comparison table.
- Offers a comprehensive rewards program where points are accrued on purchases
Annual Fee
- SBI Cashback Credit Card:
- Annual fee of Rs. 999, waived on annual spends of Rs. 2 lakh or more
- HSBC Live Plus Credit Card:
- Annual fee of Rs. 999, waived on annual spends exceeding Rs. 2 lakhs.
Fuel Surcharge Waiver
- SBI Cashback Credit Card:
- 1% fuel surcharge waiver across all petrol pumps in India
- Applicable on transactions between Rs. 500 to Rs. 3,000
- Maximum surcharge waiver of Rs. 100 per statement cycle
- HSBC Live Plus Credit Card:
- Fuel surcharge waiver of 1% across all petrol pumps in India.
Reward Redemption
- SBI Cashback Credit Card:
- Cashback is automatically credited to the card account within two days of the next statement generation
- HSBC Live Plus Credit Card:
- Points can be redeemed for various rewards including travel, merchandise, gift cards, and cash back
Additional Benefits
- SBI Cashback Credit Card:
- Contactless payment feature
- Global acceptance at over 24 million outlets
- Add-on cards available for family members
- HSBC Live Plus Credit Card:
- Travel and lifestyle services
- Priceless experiences and golf benefits
- Travel insurance and additional perks (for Premier credit cards)
Which Card to Choose Between the SBI Cashback and HSBC Live Plus Credit Cards?
The SBI Cashback Credit Card offers a straightforward cashback program with clearly defined percentages for online and offline purchases. It’s particularly attractive for those who shop online frequently, with its 5% cashback on all online transactions. The annual fee waiver on meeting a spend threshold is also a notable feature.
On the other hand, the HSBC Live Plus Credit Card seems to focus more on a points-based rewards system rather than direct cashback. It offers a variety of redemption options and additional lifestyle benefits, which might appeal to those looking for more flexibility in how they use their rewards.
When choosing between these two cards, consider your spending habits and what type of rewards you value most. If you’re primarily interested in direct cashback, especially on online purchases, the SBI card might be more suitable. If you prefer a diverse range of redemption options and travel-related perks, the HSBC card could be a better fit.
Note: Remember to check the most current terms and conditions on the official websites of both banks, as credit card features and benefits may change over time.
Frequently Asked Questions (FAQs)
