HSBC Live Annual Fee Explained and Compared to Alternatives

The HSBC Live annual fee is a cost associated with the HSBC Live account, a digital banking service offered by HSBC. The fee is £5 per month.

To put this into perspective, the fee is relatively low compared to other digital banking services. For example, some accounts charge £10 per month.

However, it's essential to weigh this against the benefits of having an HSBC Live account, such as access to a wide range of financial services and tools.

The HSBC Live+ Credit Card has a straightforward annual fee of ₱5,000.

If you're planning to use this card, you'll need to have a minimum monthly income of ₱200,000.

You'll also need to be aware of the various fees associated with the card, including a cash advance fee of ₱200 per transaction.

Late payments will incur a fee of ₱1,500 or the unpaid minimum amount due, whichever is lower.

Additionally, there's an overlimit fee of ₱800 if you go over your credit limit.

International transactions will also incur a fee, with a 2.5% charge plus 1% assessment fee charged by Visa.

If you need a replacement card, you'll have to pay ₱400 per card.

Here's a summary of the key fees to keep in mind:

The HSBC Live+ credit card has a lot to offer. The annual fee is ₱5,000.

One of the key benefits of this card is the 10% cashback on select categories like dining, food delivery, and grocery spends. These are essential spends that can add up quickly.

Here are some of the key features of the HSBC Live+ credit card:

The annual fee for the HSBC Live+ Credit Card is waived for the first year, which is a great perk for those who want to try out the card before committing to it.

The annual fee is RM24,000, and this amount is calculated based on total retail spend in the past 12 months statement prior to the annual fee charge.

To keep your annual fee waived year after year, you need to meet the minimum annual spend requirement of RM24,000, which includes both primary and supplementary spend.

Here's a breakdown of the annual fee waiver requirements:

Note that the annual fee waiver is applicable for both the primary and supplementary cards, and the retail spend includes all purchases such as dining, entertainment, shopping, and petrol.

The HSBC Live+ Card has a minimum income requirement of S$30,000 and an annual fee of S$196.20, with a first year fee waiver.

If you're not comfortable with these requirements, there are alternatives to consider. The UnionBank U Visa Platinum, for example, doesn't have annual fees or late payment and overlimit fees, making it a more relaxed option.

If you're looking for a cashback credit card with no annual fees, the UnionBank U Visa Platinum is a good choice. It offers 10% back on interest charges as long as you pay the minimum due on or before the due date, and the cashback doesn't expire.

Here are some key features of the UnionBank U Visa Platinum:

The BPI Amore Platinum Cashback card is another option that earns 4% cashback on restaurant and food delivery transactions, making it a good choice for foodies and shopaholics.

The expensive side of the HSBC Live+ Card is a major drawback. The annual fee is a whopping ₱5,000, which is quite expensive for many. This fee is waived in the first year, but you'll need to cover it moving forward.

To qualify for an annual fee waiver from the second year onwards, you'll need to spend at least ₱12,500 per annum on this card. However, it's unclear how strictly HSBC will enforce this criteria.

The annual fee of S$196.20 is a significant expense, especially considering the card's minimum income requirement of S$30,000. This fee is not just a one-time cost, but an ongoing expense that you'll need to budget for each year.

Here are some key details about the HSBC Live+ Card's fees:

These fees, combined with the card's minimum income requirement, make the HSBC Live+ Card a less attractive option for those with limited budgets.

If you're not sold on the HSBC Live+ Credit Card, there are plenty of alternatives worth considering.

The UnionBank U Visa Platinum is a cashback credit card with no annual fees, late payment fees, or overlimit fees, making it a great option for those who want to avoid extra charges.

You can earn 10% back on interest charges as long as you pay the minimum due on or before the due date with this card.

The BPI Amore Platinum Cashback card is perfect for shopaholics and foodies, offering 4% cashback on restaurant and food delivery transactions.

It also earns 1% on supermarket, grocery, and department store spend, and 0.3% on all other transactions, making it a great option for those with varied spending habits.

The BPI Amore Platinum Cashback card has a low forex conversion rate of 1.85%, making it a great choice for jetsetters.

The Metrobank Cashback Card offers up to 5% rebates on essentials, such as groceries, telecom, school, and bookstore spend.

You can earn a 5% rebate on these categories and 0.20% on all other purchases with this card.

Ultimately, this can save you up to ₱12,000 per year.

The HSBC Live+ Credit Card offers a range of rewards and incentives that make it a compelling choice for cardholders.

You can earn up to 8% cashback on dining, entertainment, and shopping at selected merchants, which is a great way to save money on your daily expenses.

The card also provides 0.2% cashback on domestic spending and 0.5% cashback on overseas spending, which can add up over time.

If you have multiple cashback credit cards, you can compare their cashback rates using a handy chart that shows cashback percentage comparisons across multiple cashback credit cards.

The HSBC Live+ Card has a minimum income requirement of S$30,000 and an annual fee of S$196.20, with a first year fee waiver.

To earn the 8% cashback rate, you'll need to spend at least S$600 per calendar month for three months in a calendar quarter, with a maximum cashback cap of S$250 per quarter.

The cashback rate is split into regular and bonus categories, with dining, entertainment, and shopping earning 5% cashback, and petrol earning 5% cashback with a 3% bonus until 31 December 2024.

If you don't meet the minimum spend, you'll earn a flat rate of 0.3% cashback on all transactions.

New-to-bank customers who apply for the HSBC Live+ Card can enjoy S$100 cashback when they make at least one qualifying transaction by the end of the month following approval.

Here's a breakdown of the cashback categories and rates:

Note that the maximum cashback rate will be reduced to 5% after 31 December 2024.

The HSBC Live+ Credit Card is definitely worth considering, especially if you're looking for a card with certain benefits.

The appeal of the HSBC Live+ Credit Card lies in the following: it offers rewards and benefits that make it a great choice for certain users.

One of the main reasons to get this card is the flexibility it provides in terms of rewards.

The HSBC Live+ Credit Card is designed to cater to users who want a card with a low annual fee, as it offers a competitive pricing option.

If you're someone who travels frequently, you'll appreciate the card's rewards and benefits that make it easy to earn and redeem points.

The HSBC Live+ Credit Card has a few fees to consider, but don't worry, I've got the details.

The joining fee for the HSBC Live+ Credit Card is Rs 999+GST, but it's a one-time payment.

You'll also get a welcome benefit of Rs 1000 cashback for downloading and loading the HSBC Mobile Banking app and spending Rs 20,000 within 30 days of card issuance.

There's also a welcome benefit of Rs 250 Amazon GV for applying online and completing video KYC.

The annual fee for the HSBC Live+ Credit Card is Rs 999+GST, but it's waived for the first year, giving you a chance to try the card without committing to the full fee.

To keep the annual fee waived year after year, you'll need to meet the minimum annual spend requirement of Rs 2 Lakh in a membership year.

Here's a summary of the fees and charges:

The joining fee including GST is well compensated with the cashback and Amazon GV, making it a worthwhile investment.

If you're not sold on the HSBC Live+ Credit Card, there are plenty of alternatives to consider. The UnionBank U Visa Platinum is a great option, offering 10% cashback on interest charges with no annual fees, late payment fees, or overlimit fees.

The UnionBank U Visa Platinum also has a unique cashback feature that doesn't expire, so you can use it whenever you want. This card is perfect for those who want a hassle-free cashback experience.

The BPI Amore Platinum Cashback card is another great option, earning 4% cashback on restaurant and food delivery transactions, which is perfect for shopaholics and foodies. It also offers a 5% discount on movie tickets and unlimited access to exclusive customer and family lounges for those who frequent Ayala Malls.

The Metrobank Cashback Card offers up to 5% rebates on essentials, such as groceries, telecom, school, and bookstore spend. This can save you up to ₱12,000 per year, making it a great option for those who want to earn rewards on their everyday purchases.