PhonePe HDFC Bank Ultimo vs HSBC Live Plus Credit Card Compared
Which credit card suits you? Side by side on the numbers that decide it. A blank means the provider has not published that figure, not that it is zero. Data last verified: 11 October 2026.
| Feature |  PhonePe HDFC Bank Ultimo Credit CardHDFC Bank5 recent changes → |  HSBC Live Plus Credit CardHSBC4 recent changes → | |
|---|---|---|---|
| Rewards by spend | |||
| Rewards | 1% on most spends; 10% only at partner merchants | 1.5% base, up to 10% on dining | |
| UPI payments (scan and pay) | 1% | Earns nothing | |
| Online shopping | 1%; 5% only at Amazon, Flipkart, Myntra, Ajio, Uber, Swiggy, Zomato | 10% | |
| Dining and food delivery | 1% | 10% | |
| Groceries | 1% | 10% | |
| Travel: flights, hotels, trains | 1% | 1.5% | |
| Fuelsame | Earns nothing | Earns nothing | |
| Bills and recharges | 1%; 10% only at PhonePe app, recharges, bills, and travel & stays | 10% | |
| Rentsame | Earns nothing | Earns nothing | |
| Insurance premiumssame | Earns nothing | Earns nothing | |
| School and college feessame | Earns nothing | Earns nothing | |
| Wallet top-upssame | Earns nothing | Earns nothing | |
| Taxes and government paymentssame | Earns nothing | Earns nothing | |
| Spend abroad or in a foreign currency | 1% | Earns nothing | |
| Everything else | 1% | 1.5% | |
| Card identity | |||
| Card type | Utility bills | Dining | |
| Network | RuPay | Visa | |
| Card tiersame | Mid | Mid | |
| Fees | |||
| Joining feesame | ₹999 + GST | ₹999 + GST | |
| Annual feesame | ₹999 + GST | ₹999 + GST | |
| Fee waived atsame | ₹2,00,000 | ₹2,00,000 | |
| Eligibility | |||
| Min age | 21 years | 18 years | |
| Max age | 60 years | 65 years | |
| Employment type | - | BOTH | |
| Min monthly salary | ₹25,000 | ₹50,000 | |
| Min credit score | - | 750 | |
| Rewards | |||
| Reward type | Reward points | Cashback | |
| Point valuesame | ₹1 | ₹1 | |
| Fuel surcharge | |||
| Fuel surcharge waiversame | Yes | Yes | |
| Lounge access | |||
| Domestic lounge visits | 8 | 2 | |
| International lounge visits | 0 | 1 | |
| Lounge condition | Spend Rs 75,000 in the previous quarter for domestic lounge access | 2 complimentary domestic lounge visits per year (one per 6 months) plus 1 international lounge visit per year from 1 September 2026 | |
| Forex and international | |||
| Forex markup | 3.5% | 1.99% | |
| UPI rewards | |||
| Works on UPI | Yes | No | |
| Interest and charges | |||
| Interest rate (monthly)same | 3.75% | 3.75% | |
| Interest rate (annual)same | 45% | 45% | |
| Page content | |||
| Eligibility | - | Age: 21 to 65 years Employment: Salaried and Self Employed Salaried Income: Rs 50000/monthly Self Employed: ITR > Rs 12,00,000/annually Credit Score: 750+ | |
| Documents needed | - | ID Proof: PAN Card/Form 60 Address Proof: Aadhaar, Passport, or utility bills Income Proof: Bank statements or Salary slips Photograph: Recent passport-sized photo | |
| Apply | Apply Now | Apply Now | |
Worth in Rupees at ₹20,000 a Month
- Rewards a year
- ₹2,400
- Fee a year
- ₹0
- You keep
- ₹2,400
- Rewards a year
- ₹8,700
- Fee a year
- ₹0
- You keep
- ₹8,700
At this spend, HSBC Live Plus Credit Card comes out ₹6,300 a year ahead of PhonePe HDFC Bank Ultimo Credit Card. Worked out from each card's published reward rate, caps and fee, on ₹20,000 a month. Your own spend changes the answer: try the rewards calculator.
Best For
- Utility bills only at PhonePe app, recharges, bills, and travel & stays: 10% back, up to ₹1,000 a month
- Online shopping only at Amazon, Flipkart, Myntra, Ajio, Uber, Swiggy, Zomato: 5% back, up to ₹500 a month
- Spending ₹16,667 or more a month: the ₹1,179 fee is waived
- Flyers: 8 airport lounge visits a year
- Families with big food and grocery bills
- Frequent Swiggy and Zomato users
- People wanting simple cashback
Watch-Outs
- Skip it if you spend less than ₹16,667 a month (₹2,00,000 a year, rent and wallet loads not counted): the ₹1,179 fee is then charged
- Skip it if most of your spending is fuel, rent, insurance or education: those earn nothing on this card
- Skip it if you rarely spend on PhonePe app, recharges, bills, and travel & stays: the 10% rate applies only there, everything else earns 1%
- Skip it if you often pay in foreign currency: 3.5% is added to every foreign spend
- 10% categories share one Rs 1,200 monthly cap
- No cashback on fuel, rent, insurance, education, wallets or EMIs
- No cashback on international spends
- Lounge visits cut to just 2 domestic a year
Card data sourced via CardAdvisor.in (PhonePe HDFC Bank Ultimo Credit Card, HSBC Live Plus Credit Card), India Credit Card Facts, CC BY 4.0, adapted by SkyloFin.
Questions People Ask
Which has the lower annual fee, PhonePe HDFC Bank Ultimo Credit Card or HSBC Live Plus Credit Card?
They charge the same annual fee. PhonePe HDFC Bank Ultimo Credit Card: ₹999; HSBC Live Plus Credit Card: ₹999.
Which is better for spending abroad?
HSBC Live Plus Credit Card has the lowest forex markup. HSBC Live Plus Credit Card: 1.99%; PhonePe HDFC Bank Ultimo Credit Card: 3.5%. The markup is charged on every foreign-currency transaction, before GST.
Which earns more on everyday spending?
On spends outside any bonus category: HSBC Live Plus Credit Card 1.5%, PhonePe HDFC Bank Ultimo Credit Card 1%. Bonus categories, rates limited to named merchants and monthly caps change the picture, so compare the rewards by spend too.
Which gives airport lounge access?
PhonePe HDFC Bank Ultimo Credit Card: 8 domestic lounge visits a year; HSBC Live Plus Credit Card: 2 domestic lounge visits a year. Some cards need a minimum spend in the quarter before a visit counts, so check the lounge terms.
Which is easier to get?
By stated minimum monthly income: PhonePe HDFC Bank Ultimo Credit Card ₹25,000, HSBC Live Plus Credit Card ₹50,000. Banks also weigh your credit score and existing relationship, so meeting the income is not a guarantee.
Can I hold more than one of these cards?
Usually yes, if each bank approves you. Many people keep one card for everyday spending and another for a specific use such as travel. Each application is a separate credit check.
Work Out the Numbers
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Guides in Plain Words
Short reads that explain how it works before you decide.
- GuidesBest Credit Cards Under ₹1,000 a Year in India (2026)Credit cards with an annual fee of ₹1,000 or less (before GST) in 2026, ranked by the reward rate each bank states, with fee waivers.Read the guide →
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