Not sure which credit cards to get in 2020? MoneySmart lets you compare and choose the most popular credit cards in Hong Kong with ease and confidence.
From nice welcome offers to generous rewards, get started by reviewing a few cards that stand out to us.
Extra HK$300 cash rebate
Min. Annual Salary
Cash back on local spend
Miles Conversion (local spend)
|Annual Interest Rate||N/A|
|Principle Annual Fee||HK$800|
|Supplementary Annual Fee||N/A|
|Minimum Monthly Repayment||HK$50 or the aggregate amount of all the following items (whichever is higher): (i) All finance charges and other fees & charges billed; (ii) 1% of statement balance (excluding all finance charges and other fees & charges); (iii) Outstanding Minimum Payment Due (when applicable); and (iv) Total over-the-limit amount (when applicable)|
|Interest Free Period||53 days|
|Wireless Payment||UnionPay QuickPass, Apple Pay|
|Annual Interest Rate||31.59%|
|Principle Annual Fee||HK$480|
|Supplementary Annual Fee||N/A|
|Fee Waiver||Annual fee will be waived if yearly credit purchase spending reach HK$30,000|
|Minimum Monthly Repayment||4% of credit purchase balance and cash advance balance or HK$100 each, whichever is higher ; 80% of credit purchase balance|
|Interest Free Period|
|Wireless Payment||Wireless payment|
|Credit Card||Minimum Salary||Annual Fee|
|Standard Chartered Simply Cash Credit Card||HK$96,000||HK$1,800|
|Citi Rewards Visa Card||HK$150,000||HK$1,800|
|Hang Seng enJoy Card||HK$150,000||HK$0|
|Standard Chartered Asia Miles Mastercard||HK$96,000||HK$1,800|
|Hang Seng MPOWER Card||HK$150,000||HK$0|
|DBS Black World Mastercard||HK$240,000||HK$2,000|
|American Express Cathay Pacific Elite Credit Card||HK$300,000||HK$1,800|
|BEA Flyer World Mastercard||HK$240,000||HK$1,800|
|American Express Platinum Credit Card||HK$300,000||HK$2,200|
|WeWa UnionPay Card||HK$0||HK$800|
|EarnMORE UnionPay Card||HK$0||HK$800|
|Citi Cash Back Visa Card||HK$240,000||HK$1,800|
HSBC cards feature an attractive rewards program- the Red Hot Rewards. This program allows all cardholders to collect reward points for eligible transactions with the earning ration of HK$250 = 1 RewardCash, which can be converted into shopping coupons, air miles or cash rebates.
All Standard Chartered customers can earn rewards for eligible purchases. Rewards range from Asia Miles (with the Standard Chartered Asia Miles card), cashback, or 360° Rewards Points. Cardholders can exchange points for vouchers at merchants such as PARKnSHOP and IKEA. Other shopping categories include electronics, lifestyle products, and travel.
Citi PremierMiles Card and Citi Rewards Card are the signature cards for Citibank. The former one is a good choice for collecting Asia Miles with the earning ratio of HK$8=1 mile with no mileage conversion fee while the latter one offers many travel perks including up to 12 times of free access to the airport lounge. Moreover, you can earn bonus reward points for spending in supermarkets and department stores. These points can be redeemed for cash coupons, miles, or used to offset purchases.
DBS Black Card is famous for collecting miles. All DBS personal credit card holders (except for COMPASS VISA cardholders) can earn DBS $1 for every HK$250 spending, which can be used for cash rebate or other rewards under the Reward Scheme. But changes to the type of reward scheme can only be made once a year.
There isn’t one credit card that is better than the rest. The best card for you depends on your lifestyle and regular spending habits. Here’s 3 ways to decide which card is best for you.
Firstly, you want to make sure you are benefitting from the things that you spend the most money on. For example, if you spend the most on dining every month, it would make sense to get a card that maximizes the benefits you get from spending all that money eating out.
It’s important to think about how you intend on using your card benefits. Do you prefer immediate cash rebates? Or would you prefer to collect and redeem Asia miles? Understanding what types of benefits you’d like is a major factor in deciding which card would be better for you.
Dig deeper into the card details to find one with the best overall value. For example, what is the expiry date for point redemptions? What are the international and domestic transfer fees? What is the required spending before you qualify for the sign-up bonus? These are a few of the important questions to think through as you shop for your new card.
Annual fees aren’t the only type of credit card charges you might be paying. Many of these other common fees will impact the benefits you earn, so be mindful of them and actively monitor your spend.
Which cards suit me the most?
There's no best credit card that suits everyone. Let's pick a card based on your spending habits!
Yes. Visa, Mastercard, Union Pay and American Express credit cards are widely accepted in Hong Kong.
Visa and Mastercard can be accepted worldwide but cardholders need to be aware that foreign transactions fee may apply. If cardholders wish to pay in his/ her preferred currency other than the local currency, Dynamic currency conversion (DCC) will be charged in addition to the foreign transaction fee.
There is no single card that suits everyone. Card applicant should pick credit cards with different spending categories to earn the most rewards. For reward point credit cards, cardholders can exchange for cash rebates, air miles, coupons, and other gifts flexibly. Air miles credit cards are suitable for frequent flyers who don’t mind the complicated redemption procedure. Cashback credit cards are suitable for low spenders to get rebates directly.
Generally speaking, no. Taxi fare needs to be settled by cash in Hong Kong.
It varies from providers to providers. It is best to check on the card issuer’s website for the exact foreign exchange rate on the day of the transaction. To make your money go further, you should also consider other factors like transaction fees, earning ratio, etc. when choosing which card to use overseas.
Most UnionPay Cards do not charge a foreign exchange fee. But it doesn’t mean that it’s best to use UnionPay Cards for foreign transactions. To make your hard-earned money go further, other factors like transaction fees, earning ratio, etc. should also be taken into consideration.