Best Credit Cards Hong Kong

Updated April 2019

Choosing a credit card that best fits you is overwhelming, but MoneySmart.hk will help you pick out a good credit card to complement your spending habits. From latest welcome offers, best cash back to air miles promotions, we've compared and reviewed those best credit cards in Hong Kong for you.

Other Cards

Standard Chartered Asia Miles Mastercard
Standard Chartered Asia Miles Mastercard

HK$96,000

Min. Annual Salary

N.A.

Cash back on local spend

HKD4 = 1 Mile

Miles Conversion (local spend)

Promotion: Welcome offer up to 40,000 Asia Miles (As low as HKD0.5 = 1 Asia Mile) + MONEYSMART exclusive HK$250 Voucher!
Best for: Asia Miles lovers, especially those who frequently spend on dining and online shopping

Pros

  • Attractive welcome offer of up to 40,000 Asia Miles
  • Receive extra 1,000 Asia Miles when successfully apply for both Standard Chartered Asia Miles Mastercard and Standard Chartered UnionPay Dual Currency Platinum Credit Card via online at the same time
  • Relatively high earning ratio of HKD4 = 1 Asia Mile on dining, online and overseas spending
  • 2 days priority redemption for selected discount flight awards bookings online from time to time
  • Even octopus auto add value service can earn HKD6 = 1 Asia Mile
  • 20% discount on Mileage Renewal fee, Mileage Transfer fee and purchase of Asia Miles Gift Miles™
  • Miles will be automatically credited to your Asia Miles™ membership account with no mileage conversion fee

Cons

  • Asia Miles is valid for 3 years
  • No rebates on online banking bill-payment and insurance payment
DBS Black World Mastercard
DBS Black World Mastercard

$240,000

Min. Annual Salary

0.8%

Cash back on local spend

$6 = 1 Mile

Miles Conversion (local spend)

Promotion: Welcome offer: Up to 85,000 miles MONEYSMART exclusive HK$200 Voucher!
Best for: Travel lovers, using DBS$ to redeem 4 different kinds of mileage, or instant redeem flight ticket or hotel via iGO Rewards with DBS$

Pros

  • Attractive welcome offer:First HK$5,000 local spending HK$1 = 1 Mile and first HK$5,000 oversea spending HK$1=1 Mile
  • No expiry date on DBS$
  • 20% off Cash Rebate Redemption Promotion
  • Exclusive 45% off iGO Rewards Redemption
  • Complimentary newspaper/magazine redemption at airport
  • Use DBS$ to redeem flights, hotels, car rental or packages
  • Top up in PayMe can earn HK$6 = 1 Mile

Cons

  • No miles on bill-payment and insurance payment
  • No complimentary travel insurance
American Express® Platinum Credit Card
American Express® Platinum Credit Card

$300,000

Min. Annual Salary

N.A

Cash back on local spend

$5 = 1 Mile

Miles Conversion (local spend)

Promotion: Special welcome offer of up to HK$2,960 + MONEYSMART exclusive HK$400 Voucher!
Best for: Those who enjoy fine dining, traveling around the world with friends or shopping for your favorite fashion finds

Pros

  • Membership Rewards Program, spend HK$1 = 3 Membership Reward Points (Cap at HK$120,000)
  • 2 complimentary Supplementary Cards
  • Gourmet Club membership with up to 50% savings on the a la carte dinner menu at designated restaurants of Maxim’s Chinese Cuisine, m.a.x. concepts and Cafe Deco Group
  • Buy 1 get 1 free movie ticket on Thursday and Friday on 3D, 2D and IMAX movie tickets at Broadway Circuit and AMC Pacific Palace Cinemas. Plus, 15% savings on 3D, 2D and IMAX regular priced movie tickets
  • 10% off on select hotel bookings and an extra HK$100 cash back for every HK$2,000 spent on Expedia
  • Extra 10 Membership Rewards Points with every HK$1 spent at Hong Kong Parkview

Cons

  • No rebates on octopus card auto add value
EarnMORE UnionPay Card
EarnMORE UnionPay Card

$0

Min. Annual Salary

2%

Cash back on local spend

N.A.

Miles Conversion (local spend)

Promotion:
Welcome Offer : OTO Qseat or HK$600 Häagen-Dazs™ Gift Voucher or HK$500 Cash Rebate
Extra HK$100 cash rebate for successful application via MoneySmart
Best for: People who focus on cash rebate in all spending no matter local or overseas spending

Pros

  • Up to 2% Cash Rebate for all categories eligible purchase
  • Automatic Add Value Service in Octopus Card also have up to 2% cashback
  • Handling fee waiver for overseas spending
  • Enjoy free access to the Plaza Premium Lounges at Hong Kong International Airport (East Wing and West Wing) and Macau International Airport (promotion until 28 February 2019)

Cons

  • Buy 1 get 1 free ticket in Cinema City is only valid on the specified day
Citi Rewards Visa Card
Citi Rewards Visa Card

$150,000

Min. Annual Salary

3.2%

Cash back on local spend

$3 = 1 Mile

Miles Conversion (local spend)

Promotion: Welcome offer 135,000 Points!
Best for: Frequent shoppers looking to maximize points that can be used for a wide range of redemption options

Pros

  • Welcome offer 135,000 Points (can be redeemable for HK$600 Wellcome coupon or 9000 Miles=Round trip ticket to Taipei 1 set)
  • Enjoy 5X points (=HK$3/Mile) all year round and 8X points (=HK$1.875/Mile) during your birthday month for spending in supermarkets, department stores and telecommunication bill payments
  • E-wallet transaction is eligible as welcome offer spending (PayMe, WhChat Pay, AliPay, etc.)
  • Points never expire
  • Low annual income requirement for HK$150,000

Cons

  • Fees will be charged for converting points into miles
  • No points for making payment through online e-banking
  • No offers for overseas spending
American Express Cathay Pacific Elite Credit Card
American Express Cathay Pacific Elite Credit Card

$300,000

Min. Annual Salary

N.A

Cash back on local spend

$6 = 1 Mile

Miles Conversion (local spend)

Promotion: Welcome offers up to 76,000 Asia Miles + MONEYSMART exclusive HK$250 Voucher!
Best for: Travel lovers for earning most air miles with large spending, also Cathay Pacific frequent user and enjoy travel benefits

Pros

  • Enjoy complimentary access to Plaza Premium Lounge each year
  • HK$6 = 1 Asia Mile on all local spend and HK$6 = 1.5 Asia Mile on foreign currency spend
  • No charge on miles conversion as the spending will be automatically converted to Asia Miles
  • Complimentary travel insurance and shopping protection
  • Enjoy 10% discount at Broadway Circuit and AMC Pacific Place cinemas

Cons

  • No rebates on octopus card auto add value
HSBC Visa Signature Card
HSBC Visa Signature Card

$360,000

Min. Annual Salary

3.6%

Cash back on local spend

$2.78 = 1 Mile

Miles Conversion (local spend)

Promotion: Apply online to earn up to $1,400 RewardCash
Best for: Those looking to earn maximum amount of points on a particular category of their choosing, particularly for oversees spending

Pros

  • Earn up to 14X RewardCash for spending in Rewards of Your Choice category
  • Up to 5.6% RewardsCash rebate (ie. HK$2.78 = 1 mile)
  • Discounts from many merchants, such as restaurants and hotels
  • Many offers for overseas, online and dining spending, etc

Cons

  • High annual income requirement (HK$360,000)
  • Fee charged for mileage conversion
Citi PremierMiles Card
Citi PremierMiles Card

$240,000

Min. Annual Salary

0.8%

Cash back on local spend

$8 = 1 Mile

Miles Conversion (local spend)

Promotion: Welcome offer round trip ticket to Taipei 1 set (108,000 Points) + Free year-round travel insurance!
Best for: Frequent travellers who would enjoy free travel insurance, good overseas spending conversion rate, and airport lounge access

Pros

  • Welcome offer round trip ticket to Taipei 1 set (108,000 Points) (9,000 Avios, can be redeemable for Round trip ticket to Taipei 1 set)
  • Flexible mile redemption options including Avios, KrisFlyer etc.
  • High miles conversion rate of HK$3 = 1 Miles for overseas spend
  • Short mileage conversion time, only takes 4-8 days
  • Free travel insurance
  • No charge on Dynamic Currency Conversion payment
  • Points do not expire

Cons

  • No miles earned on online bill-payment
Hang Seng MPOWER CARD
Hang Seng MPOWER CARD

$150,000

Min. Annual Salary

4.4%

Cash back on local spend

N.A.

Miles Conversion (local spend)

Promotion: Welcome offer up to 8 movie tickets, up to 365-day KKBOX premium membership and up to $400 Cash Dollars
Best for: People who frequently spending on online shopping and entertainment

Pros

  • Up to 4.4% Cash Dollars rebate in moblie payment, online shopping and overseas spending
  • Many MCL Cinema promotion
  • Many KKBOX promotion
  • Many designated merchants exclusive year-round discount offers
  • Principal and Supplementary Card Customers will enjoy Perpetual Annual Fee Waiver

Cons

  • Every HKD200 card spending with your Card at merchant outlets other than the enJoy Card Designated Merchants, you can earn $1 Cash Dollar
AEON UnionPay Credit Card
AEON UnionPay Credit Card

$0

Min. Annual Salary

1%

Cash back on local spend

N.A

Miles Conversion (local spend)

Promotion: Welcome offer up to HK$500 + Up to HK$2000 rebate for overseas spending + Earn 3X Bonus points
Best for: Cash rebate seekers on lifestyle usage

Pros

  • Enjoy members-only discount at AEON's massive merchant network
  • Every HK$1 spent on credit purchase entitled 1 bonus point. Every HK$1 on credit purchase or Interest-free Card Instalment Plan at AEON Stores entitled 2 bonus points*. Points accrued can be used for redemption offered by AEON Bonus Point Program
  • Enjoy 5% credit purchase discount at AEON on "Thanksgiving Days"
  • Enjoy interest-free card installment services on electrical appliances, furniture, health and equipment, and designated products year-round
  • AEON UnionPay Credit Card can be added to UnionPay App to enjoy cross-borad QR code payment service

Cons

  • HK$500 ceiling for cash rebate
WeWa UnionPay Card
WeWa UnionPay Card

$0

Min. Annual Salary

4%

Cash back on local spend

N.A.

Miles Conversion (local spend)

Promotion: A set of Round-trip Standard Seat Flight Tickets for One Passenger from Hong Kong to Japan (Osaka or Okinawa) with HK$100 Hotel Voucher or HK$500 Cash Rebate or HK$600 Häagen-Dazs™ Gift Voucher
Best for: Cash rebate seekers on lifestyle usage

Pros

  • Up to 4% Cash Rebate for transactions within specific categories (“Travel”, “Cinema”, “Karaoke” and “Theme Park”) all year round (equivalent to HK$10 Cash Rebate for every HK$250 spending) and the transactions made can be counted towards the Welcome Gift spending requirement
  • “Shake to Win II”: Grasp your chance to shake the prize of 100% Transaction Rebate. The more you spend, the more you earn! Prize is guaranteed to be awarded!
    (Trade Promotion Competition Licence Number: 51768-70)
  • Handling fee waiver for overseas spending
  • First 5 year annual fee waiver for Student

Cons

  • Only 0.4% Cash Rebate for transactions within other categories
HSBC Visa Platinum Card
HSBC Visa Platinum Card

$150,000

Min. Annual Salary

2.4%

Cash back on local spend

$4.17 = 1 Mile

Miles Conversion (local spend)

Promotion: Apply online to earn up to $1,400 RewardCash
Best For: People who want to earn maximum amount of points to be used for a category of their choosing

Pros

  • Earn up to 6X RewardCash with 'Red Hot Rewards of Your Choice' on your frequent spending category (equal to 2.4% RewardCash rebate)
  • Discounts from many merchants, such as restaurants and hotels
  • Many offers for overseas, online and dining spending, etc
  • HSBC Exclusive Benefits: Concierge services including travel information and restaurant reservations, exclusive hotel and car rental offers, and application for Private Label Cards (city'super, CODE, Dickson, and HARVEY NICHOLS)
  • Earn RewardCash by settling Premium / tuition via e-banking (only for the first HK$10,000 each month)
  • No extra fee for Dynamic Currency Conversion transactions

    Cons

    • Fee charged for mileage conversion
    American Express Cathay Pacific Credit Card
    American Express Cathay Pacific Credit Card

    $150,000

    Min. Annual Salary

    N.A.

    Cash back on local spend

    $8 = 1 Mile

    Miles Conversion (local spend)

    Promotion: Up to 74,000 Asia Miles + MONEYSMART exclusive HK$250 Voucher!
    Best for: Travel lovers for earning most air miles with large spending, also Cathay Pacific frequent user and enjoy travel benefits

    Pros

    • Enjoy Twice-yearly Plaza Premium Lounge access
    • Complimentary travel insurance and shopping protection
    • HK$8 = 1 Asia Mile on all local spend and HK$8 = 1.5 Asia Mile on foreign currency spend

    Cons

    • No rebates on octopus card auto add value
    The Platinum Card
    The Platinum Card

    $1,000,000

    Min. Annual Salary

    N.A.

    Cash back on local spend

    $7.5 = 1 Mile

    Miles Conversion (local spend)

    Promotion: Welcome offer : Up to 700,000 Membership Rewards Points + MONEYSMART exclusive HK$400 Voucher!
    Best for: Frequent travellers who value premium experiences and looking to redeem membership rewards points for air miles and different kinds of gifts

    Pros

    • In Membership Rewards Turbo Program, spend HK$1 = 2 points and 15 points = 1 miles (HK$7.5 = 1 Mile)
    • HK$5 = 1 mile on oversea spending and flights booking with designated airline
    • Unlimited access to worldwide airport lounge
    • Enjoy travel and hotel benefits
    • Buy 1 get 1 free movie ticket on both Thursday and Friday at any Broadway Circuit and AMC Pacific Place cinema
    • Enjoy the platinum concierge service

    Cons

    • The Buy-1-Get-1-Free movie tickets offer is not applicable in specified days
    HSBC UnionPay Dual Currency Diamond Card
    HSBC UnionPay Dual Currency Diamond Card

    $150,000

    Min. Annual Salary

    2.4%

    Cash back on local spend

    $4.17 = 1 Mile

    Miles Conversion (local spend)

    Best for: Frequent travellers to China, who would enjoy good currency exchange rates between HKD and RMB

    Pros

    • Earn up to 6X RewardCash with "Red Hot Rewards of Your Choice" on your frequent spending category (equal to 2.4% RewardCash rebate)
    • Medical, Travel Assist, and Concierge Service when traveling
    • Enjoy a privileged rate of HK$250 for airport limousine transfer
    • Free entry to LoungeKey airport lounges 3x per year
    • Low annual income requirement (HK$150,000)

    Cons

    • 1% handling fee charge on foreign currency spending
    Show more cards

    Compare the Best Credit Cards in Hong Kong 2019

    Best credit card forCredit cardReward
    Dining and Online shopping spendStandard Chartered Asia Miles MastercardAir Miles
    Frequent shopping at supermarkets and department storesCiti Rewards Visa CardReward Points
    Online shopping spend in foreign currencyHSBC Visa Signature CardReward points
    Entertainment spendWeWa UnionPay CardCash Rebate
    Unlimited Cash backStandard Chartered Simply Cash Visa CardCash Rebate

    Choose Credit Cards Based on your Spending Habits

    Pick credit cards with different spending categories based on your habits to earn the most rewards. For reward point credit cards, you can redeem cash rebates, air miles, coupons, and other gifts, giving you higher flexibility. Air miles credit cards are suitable for frequent flyers who would take the effort to research on collecting miles. Cashback credit cards are suitable for those who don’t spend a lot and want to get rebates directly

    Air Miles

    Miles Credit Cards

    1. Standard Chartered Asia Miles Mastercard: HKD4/mile for dining and online spending
    2. Citi PremierMiles Card: HKD3/mile for foreign currency transactions

    Cashback

    Cashback Credit Cards

    1. Standard Chartered Simply Cash Visa Card:: 2% rebates on foreign currency transactions
    2. Citi Cash Back Visa Card: 2% rebates on global dining and hotel spending

    Reward Points

    Reward Points Credit Cards

    1. Citi Rewards Card: 5x points all-year-round at supermarkets, department stores, and telecom providers
    2. HSBC Visa Signature Card: Up to 14x “RewardCash” for selected categories

    Which Credit Card is the Best in Hong Kong?

    Out of all credit cards, which one is the best? Unfortunately, there’s no single best credit card for everyone in Hong Kong. You’ll have to choose a credit card that best fits your lifestyle needs and wants. Here’s how:

    Find a card that fits your spending habits

    Think about your current lifestyle and spending habits. What are the things you spend the most money on? For example, if you’re a real foodie and love checking out new restaurants around town, it makes sense to get a card with rewards points for dining and useful perks like 1-for-1 buffet promotions.

    Plan how to use your credit card benefits

    Credit cards come with a whole bunch of benefits, so think about which benefits you actually want to use. You can plan your spending to earn maximum benefits from your credit cards, such as instant cash rebates and air miles.

    Read credit card reviews and compare

    Now that you’ve got a shortlist of credit cards, it’s time to dig deeper into the details of the rewards or air miles programmes. Compare terms and conditions like expiry dates, exclusions, minimum spend, credit limit, and so on to make sure that you get the best card.

    5 Most Common Credit Cards in Hong Kong

    Hong Kong credit cards are from 5 major card issuers. Visa and Mastercard take up most of the market, followed by American Express, UnionPay, and JCB. Visa and Mastercard are card issuers with a long history and are accepted everywhere in the world. On the other hand, American Express can be used in 130+ countries.

    UnionPay credit cards are great for spending in China. Many Hong Kong banks have launched UnionPay dual-currency credit cards, such as HSBC UnionPay Dual Currency Credit Card and Standard Chartered UnionPay Dual Currency Platinum Credit Card to benefit frequent travelers to mainland China.

    JCB credit cards are perfect for those who travel often to Japan because they offer many discounts on spending in Japan. Currently, only BEA and AEON have launched JCB credit cards in Hong Kong.

    Annual Fee is NOT the Only Credit Card Fee!

    Annual fees aren’t the only type of credit card charges you might be paying. There are many other common fees that will impact the benefits you earn, so be mindful of them and actively monitor your daily spending.

    Mileage conversion fees

    Some banks will charge you HKD100 to HKD500 for converting points to air miles.

    Overdue penalties

    You’ll need to pay extra HKD80 to HKD350 as a penalty if you can’t repay the minimum charge on time.

    Foreign Transaction Fees

    If you travel a lot, be careful of the 1 to 2% handling fees for overseas spending.

    Tips for Credit Cards

    High Interest Rates

    Clear all credit card debts every month. If you only pay for the minimum payment, banks will charge you an extra interest payment for any unsettled amounts owed to them. The interest rates, otherwise known as annual percentage rate (APR) of credit cards in Hong Kong is usually 30-35% or even higher, which means that your debt will snowball if you do not repay.

    Purchase Protection Insurance

    Get stolen? No worries! Many credit cards offer purchase protection insurance, but the limit and indemnity of each card is different. For instance, Citibank credit cards only insure up to 30 days of purchase, while AMEX provides 45 days of cover, subject to a maximum of HKD30,000 per item and HKD400,000 per card.

    Frequently Asked Questions

    How does a credit card work?

    A credit card is basically a way to borrow money from a bank to make purchases. Unlike a bank loan, using a credit card you “loan” money in smaller amounts and on a short-term basis. You then pay the bank back monthly.

    What’s the difference between debit cards and credit cards?

    Unlike credit cards, debit cards do not involve any borrowing. They are linked to your bank account, so purchases made on your debit card are paid for by deducting straight from your funds. You must have sufficient funds on hand to use your debit card. If you have a credit card, you can borrow the money for the time being and pay it back later. Make sure you know your repayment ability before swiping any credit cards.

    Am I qualified for credit cards?

    Different credit cards will have different requirements and qualifications. At a minimum, most credit cards in Hong Kong will require applicants to be at least 18, have a Hong Kong identity card, and have income proof. Many banks offer an online credit card application, which takes a few minutes to get done.

    Can I apply for credit cards if I’m a housewife or a freelancer or a tertiary school student?

    Yes, you can! Simply check the banks’ requirements beforehand – some banks specifically cater to students or individuals with lower income by setting a lower bar on annual salary requirements. Submitting your income proof increases your chances of getting approved, but in some cases, you may still apply for those credit cards without supporting documents.

    How long does a bank take to approve a credit card?

    It depends on the type of credit card you’re applying for, the application requirements, your credit records, and the supporting documents. Usually, banks will give you a new credit card after 7-10 working days of submitting applications.

    Can I apply for several credit cards at the same time?

    Yes, you can. But note that applying for several credit cards at the same time may affect your credit score and increase your difficulty of getting loans later on. Even if you can get a credit card, your credit limit will also be affected.

    How to get my credit card annual fee waived?

    Lately, banks have offered credit card annual fee waivers for 1-5 year(s) as a benefit. Generally, the higher your credit card level, the higher your annual fee. Here’s a quick tip. Once the waiver promotion period passes, you can call the bank’s customer service hotline to see if they are willing to waive subsequent credit card annual fees.

    How can I pay my credit card bills?

    Credit cards have several bill payment methods, such as e-banking, bank counters, ATMs, PPS, cheques or DHL. Note that you’ll be charged for penalties if your bill payment becomes overdue.

    Is it bad to pay minimum payments only?

    Before swiping your credit cards, consider your repayment ability based on your income level and cash flow. Paying minimum payments will cause the interest to snowball and incur snowball the interest and extra credit card fees This affects your credit score and home loan applications in the long-term. We recommend you clear all your credit card bills every month to avoid accumulating credit card debts.

    How to prevent my credit cards from getting stolen?

    Phone scams are one of the common ways of stealing your credit card information. You should avoid giving your credit card information to suspicious people. Remember to confirm your spending amount, reject signing empty bills, and keep your receipts for verification.

    How do I cancel my credit card?

    Not happy with your current credit card? You can call the credit card center listed on the provider’s website or go to a branch in-person to cancel your credit card. Close your credit card accounts once at a time so that your credit report does not take a hit.

    Do banks charge me for cancelling a credit card?

    Banks have the rights to cancel your welcome offers and deduct the face value of other offers from your account if you cancel your credit card within a short period after issuance (usually in 12 months).