Best HSBC Credit Cards Hong Kong

Updated June 2019

Choosing a credit card that best fits you is overwhelming, but MoneySmart.hk will help you pick out a good HSBC 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.

HSBC Visa Signature Card
HSBC Visa Signature Card

HK$360,000

Min. Annual Salary

3.6%

Cash back on local spend

HK$2.78 = 1 Mile

Miles Conversion (local spend)

Promotion: Apply online to earn up to $900 RewardCash
Best for: Those looking to earn maximum amount of points on a particular category of their choosing, particularly for oversees spending

Pros

  • 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
HSBC Visa Platinum Card
HSBC Visa Platinum Card

HK$150,000

Min. Annual Salary

2.4%

Cash back on local spend

HK$4.17 = 1 Mile

Miles Conversion (local spend)

Promotion: Apply online to earn up to $900 RewardCash
Best For: People who want to earn maximum amount of points to be used for a category of their choosing

Pros

  • 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
    HSBC UnionPay Dual Currency Diamond Card
    HSBC UnionPay Dual Currency Diamond Card

    HK$150,000

    Min. Annual Salary

    2.4%

    Cash back on local spend

    HK$4.17 = 1 Mile

    Miles Conversion (local spend)

    Promotion: Apply online to earn up to $900 RewardCash
    Best for: Frequent travellers to China, who would enjoy good currency exchange rates between HKD and RMB

    Pros

    • 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
    HSBC UnionPay Dual Currency Credit Card
    HSBC UnionPay Dual Currency Credit Card

    HK$60,000

    Min. Annual Salary

    2.4%

    Cash back on local spend

    HK$4.17 = 1 Mile

    Miles Conversion (local spend)

    Promotion: Welcome offer: Apply online to earn up to HK$900 RewardCash
    Best for: Frequent travelers to China looking for seamless transition between HKD and RMB

    Pros

    • Low annual income requirement (HK$60,000)
    • Medical, Travel Assist and Concierge Service

    Cons

    • No free of Airport Lounge access
    • 1% service fee on oversea spending
    HSBC Visa Gold Card
    HSBC Visa Gold Card

    HK$60,000

    Min. Annual Salary

    2.4%

    Cash back on local spend

    HK$4.17 = 1 Mile

    Miles Conversion (local spend)

    Promotion: Apply online to earn up to $900 RewardCash
    Best For: Those looking for a simple day-to-day card with dining and shopping benefits

    Pros

    • Discounts from many merchants, such as restaurants and hotels
    • Many offers for overseas, online and dining spending, etc

    Cons

    • Fee charged for mileage conversion
    • Online billing can't earn RewardCash
    All results loaded

    Best HSBC Credit Cards in Hong Kong 2019

    Credit CardAnnual Income RequirementBenefits
    HSBC Visa Signature CardHKD480,000Fastest-earning rewards card with airport lounge access, for those with high annual income
    HSBC Visa Platinum CardHKD150,000 Lets you earn accelerated rewards points for your choice of spending category
    HSBC UnionPay Dual Currency Diamond CardHKD150,000 Dual currency credit card that lets you pay in RMB or HKD with no extra fees
    HSBC UnionPay Dual Currency Credit CardHKD60,000Dual currency credit card with low income requirement
    HSBC Visa Gold Card HKD60,000Rewards and lifestyle credit card with low income requirement

    HSBC Credit Card Promotions & Rewards

    HSBC offers some of the most versatile and attractive credit card rewards and promotions in town. Their rewards programme, called Red Hot Rewards, lets all credit card holders earn rewards points for spending on their cards. You earn $1 RewardCash for every HK$250, RMB250 (on the HSBC UnionPay Dual Currency Cards) or US$30 (on an HSBC USD Visa Gold Card) spent. Subsequently, your RewardCash can be converted into shopping coupons, air miles or cash rebates - your choice.

    Asia Miles & Other Mileage Programmes

    HSBC RewardCash can be exchanged for Asia Miles. You will need to be an Asia Miles member before you enroll in HSBC’s mileage programme online. It costs HK$300 annually (which can be paid for with $300 RewardCash). After you’re enrolled in the programme, you can transfer RewardCash into your Asia Miles account at a conversion rate of $1 RewardCash = 10 Asia Miles.

    RewardCash Certificate Scheme

    If you’d like to earn shopping vouchers instead, you can enroll in HSBC’s certificate scheme online. This lets you pool all your HSBC credit card spending into one card, letting you accumulate RewardCash more quickly. Every quarter, your RewardCash will be consolidated and converted into a certificate (issued in multiples of $50). You’ll receive the certificate in the mail, and you can then exchange it for cash coupons from AEON, PARKnSHOP, and SOGO.

    HSBC Dining Promotions

    Apart from earning HSBC RewardsCash, holding an HSBC credit card also entitles you to dining promotions at popular restaurants and hotel buffets in Hong Kong. Some of the more enticing offers include Bostonian Seafood & Grill, BLT Steak, Gaylord Indian Restaurant, and Big Bay Cafe. Check HSBC’s Red Hot Offers listings for the latest dining promotions.

    HSBC Credit Card Features & Benefits

    Apart from the lifestyle benefits illustrated above, HSBC credit cards also come with some features that make it practical for day-to-day usage. Some of the features common across all HSBC credit cards are:

    #1

    Octopus AAVS

    Octopus AAVS (Automatic Add Value Service) allows HSBC credit card holders to automatically reload their Octopus cards in increments of either HK$250 or HK$500. You’ll be billed for Octopus top ups together with your other credit card spending. Best of all, this lets you earn HSBC RewardCash for every Octopus reload.

    #2

    HSBC Reward+ Mobile App

    Open to all HSBC credit card holders, the HSBC Reward+ mobile app lets you manage your credit card accounts on the go and browse the latest HSBC promotions (Red Hot Offers). You can also use the app to offset your HSBC credit card bills with the RewardCash you’ve earned.

    #3

    Mobile Payments

    HSBC credit cards are compatible with the three major mobile digital wallets: Apple Pay, Google Pay, and Samsung Pay. You can add your credit card to your mobile phone and make payment both conveniently and securely.

    Paying Bills with HSBC Credit Cards

    HSBC customers can use their credit cards to pay various bills including utilities, telephone and government-specific bills. You can do so easily via HSBC’s EBPP (Electronic Bill Presentment and Payment Service), a one-stop platform that consolidates all your e-bills. Here are some common bills you can pay with HSBC cards:

    Utility Bills

    HSBC credit cards can be used to pay electricity and gas bills from CLP Power, Hong Kong Electric, Hong Kong and China Gas, and the Water Supplies Department.

    Phone & Internet Bills

    HSBC credit cards can also be used to pay your telecommunications bills, such as for monthly postpaid data plans and SIM card recharging, from selected vendors such as CSL, PCCW, and SmarTone.

    Government Bill & Tax Payment

    HSBC credit cards are accepted as a payment mode for a range of government-related bills and fines, such as the Inland Revenue Department, Student Finance Office, and Traffic Tickets.

    HSBC Visa Signature vs Platinum Card - which is better?

    HSBC’s two most attractive credit cards for medium-to-high income earners in Hong Kong are the HSBC Visa Signature Card and the HSBC Visa Platinum Card. But what’s the difference and which is better?

    Both cards are structured similarly in terms of benefits, but the HSBC Visa Signature Card has a higher income requirement (HK$480,000), as well as higher rewards, earn rate (9X RewardCash in the category of your choice).

    The HSBC Visa Platinum Card, on the other hand, has a much lower income requirement (HK$150,000) but also a lower earn rate for RewardCash (6X in the category of your choice).

    So if you qualify for it, the HSBC Visa Signature is a much better choice. It also comes with a few extra perks such as free airport lounge access with upon spending HK$1,500, 1-for-1 movie tickets, and a one-time 1-for-1 buffet dinner at Grand Hyatt Hong Kong.

    Frequently Asked Questions

    Do HSBC credit cards offer annual fee waiver?

    HSBC has two cards with perpetual fee waivers: HSBC Premier Mastercard and HSBC Advance Visa Platinum Card, but they are both for higher income customers. Annual fees apply to other cards, but HSBC may offer annual fee waivers on a case-by-case basis.

    Can I pay my taxes with an HSBC credit card?

    Yes, HSBC credit cards have a tax payment feature so you can use it to pay the Inland Revenue Department. HSBC may even offer special promotions for paying taxes with their cards.

    Can I use my HSBC credit card overseas?

    You can use your HSBC credit card to pay at credit card terminals overseas and as an ATM card to withdraw cash. You typically need to pay HK$20 per transaction if you use your HSBC credit card for an overseas ATM withdrawal.

    Which is the best HSBC Credit Card?

    HSBC credit cards have a flexible rewards programme where you can choose the spending category (e.g. dining) you’d like to be rewarded for. Generally, the higher the minimum income requirement, the higher the earn rate. So if you qualify for a few cards, pick the one with the highest income requirement. If you frequently shuttle between Hong Kong and China, however, you may want to apply for the HSBC UnionPay Dual Currency Credit Card since it makes paying in RMB cheaper and more convenient.

    How do I apply for a HSBC credit card?

    You can apply for an HSBC credit card online or by visiting a HSBC branch. For quicker approval, come prepared with your personal and employment details, as well as supporting documents such as proof of income and employment contract.

    How do I check my HSBC credit card application status?

    HSBC takes about six working days to process an application, and another three days to send out the new credit card. You can check your application status by calling (852) 2233 3000 and quoting your application reference number. The priority banking hotlines are (852) 2233 3322 for HSBC Premier customers and (852) 2748 8333 for HSBC Advance customers.