Best UnionPay Credit Cards Hong Kong

Updated May 2019

Get the best UnionPay credit cards to benefit from dual currency accounts and save on foreign exchange fees. Compare foreign currency transaction fee and cash rebates from top UnionPay credit cards in Hong Kong.

Other UnionPay Cards

WeWa UnionPay Card
WeWa UnionPay Card

$0

Min. Annual Salary

0.4%

Cash back on overseas spend

N.A.

Miles Conversion (overseas 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 UnionPay Dual Currency Diamond Card
HSBC UnionPay Dual Currency Diamond Card

$150,000

Min. Annual Salary

2.4%

Cash back on overseas spend

$4.17 = 1 Mile

Miles Conversion (overseas 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
Standard Chartered UnionPay Dual Currency Platinum Credit Card
Standard Chartered UnionPay Dual Currency Platinum Credit Card

HKD96,000

Min. Annual Salary

0.35%

Cash back on overseas spend

HKD15 = 1 Mile

Miles Conversion (overseas spend)

Promotion: New Cardholders welcome offer HKD600 cash rebate
Best for: Frequent travelers to China and overseas

Pros

  • New Cardholders welcome offer: HKD600 cash rebate
  • Receive HKD800 cash rebate when apply for Standard Chartered Platinum Credit Card at the same time and fulfilled relevant requirement
  • Waiver of foreign exchange fee
  • Low annual income requirement of HKD96,000 or above

Cons

  • No rebates on bill-payment
Bank of China CUP Dual Currency Platinum Card
Bank of China CUP Dual Currency Platinum Card

0%

Min. Annual Salary

0.50%

Cash back on overseas spend

$15 = 1 里數

Miles Conversion (overseas spend)

Best for: People who meet low income requirement and need a UnionPay capable credit card

Pros

  • Fee waived for overseas spending
  • Simply access Cross-border Bill Payment Platform via BoC Pay/ BOCHK mobile app to make payment of various types of utility bills
  • You can earn Gift Points1 upon spending with your card (in the ratio of RMB¥1 / HK$1 spending = 1 Gift Point), including cash rebate, retail spending, cash before card service, autopay or Octopus AAVS
  • Attractive welcome offer with HK$500 free spending credit offer
  • Minimum 150K annual income, which is a low par

Cons

  • Only 0.4% rebate or HK$15 = 1 Mile
  • Mileage conversion fee
BEA UnionPay Dual Currency PLATINUM Credit Card
BEA UnionPay Dual Currency PLATINUM Credit Card

HK$40,000

Min. Annual Salary

1.2%

Cash back on overseas spend

N.A.

Miles Conversion (overseas spend)

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

Pros

  • No charge on oversea spending
  • 2X points on local spending (0.8% rebate) and 3X points on dining (1.2% rebate)
  • Annual fee waiver

Cons

  • No rebates on insurance and tuition fee if pay by e-banking
  • Have Dynamic Currency Conversion charges
  • No airport lounge access
Bank of Communications CUP Dual Currency Diamond Card
Bank of Communications CUP Dual Currency Diamond Card

0%

Min. Annual Salary

0.8%

Cash back on overseas spend

$6 = 1 Mile

Miles Conversion (overseas spend)

Promotion: Welcome gift: HK$338 Cross Border Dual-Number Prepaid SIM & HK$500 Standalone Handset Cash Coupon or Hedgren Backpack in luggage open style with pouch
Best for: Budget-friendly travellers who enjoy access to airport lounges and airport limousine transfer services

Pros

  • Fee waived for overseas spending
  • Complimentary access to Lounges Key airport lounges for three times in a year
  • Enjoy airport limousine transfer service at HK$250 with spending over a specified amount
  • HK$1 magazine (valued for HK$15) at Chung Hwa Book Co. branches at the airport
  • 2X points for a single spending ≥HK$300, which equals to 0.8% rebate or HK$6 = 1Mile
  • Minimum 150K annual income, which is a low par

Cons

  • At HK$100, mileage conversion fee is high
  • No points for settling bills via e-banking
  • No extra points for welcome offer
All results loaded

Best UnionPay Credit Cards in Hong Kong 2019

What is UnionPay?

UnionPay is a card issuer in the same league as Visa, MasterCard, and American Express. It’s widely accepted in China and its surrounding region. They issue credit cards, prepaid cards, and debit cards. UnionPay’s foreign currency transaction fee is 0%, so you can shop overseas with UnionPay cards without extra cost. UnionPay dual-currency credit cards are popular in Hong Kong and China as you can separate HKD and CNY currencies and transactions in one card. There are 4 levels of UnionPay credit cards: Classic, Gold, Platinum, and Diamond, ranked according to how premium they are.

UnionPay Travel Features & Benefits

As a UnionPay cardholder, you will enjoy access to airport lounges and discounts on limousine services and car rental when you travel. UnionPay Platinum and Diamond cardholders are entitled to more privileges.

UnionPay Airport Lounges

You get discounted access to VIP DragonPass lounges at global airports when you have a UnionPay card. UnionPay Diamond cardholders pay CNY62 per visit while Platinum cardholders pay CNY99 per visit. Certain UnionPay cards such as the HSBC UnionPay Dual Currency Diamond Card entitle you to complimentary visits to airport lounges.

UnionPay Limousine Service

UnionPay premium cardholders enjoy discounts on limousine service in China for pick-up from the airport to the hotel. Diamond cardholders pay CNY130 and Platinum cardholders pay CNY195.

Discounts on Hertz Car Rental

Until 31 December 2019, UnionPay cardholders enjoy discounts off Hertz car rental services. Diamond cardholders enjoy 15% off, Platinum cardholders enjoy 13% off, while Gold and Classic cardholders enjoy 10% off.

What’s the UnionPay’s Exchange Rate?

UnionPay exchange rates for currencies like CNY and HKD are good. For cards that are in Hong Kong dollar (HKD), the current exchange rate is 1000CNY = 1173.5HKD as of March 2019. In comparison, Visa’s rate is 1000CNY = 1170.2HKD, while MasterCard’s rate is 1000CNY = 1171.4HKD. For UnionPay cards in Chinese Reminbi (CNY), the exchange rate is 1000HKD = 855.5CNY while Visa’s exchange rate is 1000HKD = 855.1CNY and MasterCard’s exchange rate is 1000HKD = 854.9CNY as of March 2019. The calculation of exchange rates are based on wholesale currency markets and government-mandated rates.

What is a Dual Currency Credit Card?

Dual currency credit cards are great for jet-setters as they allow you to transact in two different currencies. There are no extra charges for transactions made in either currency. You can allocate your credit limit between your HKD and RMB accounts. Do note bill payment is separate for your HKD sub-account and RMB sub-account. UnionPay issues a number of HKD-CNY dual-currency credit cards, as well as other types such as SGD-CNY dual-currency credit cards. They allow frequent travelers to China to easily pay and transact.

Frequently Asked Questions

Which credit card is best in Hong Kong?

This depends on your lifestyle and what you spend the most on. There are cashback cards, reward points cards, air mile cards and UnionPay cards. Cashback cards offer effortless usage as the cash rebate is automatic. Air mile cards are great for frequent travellers who would take the effort to accumulate expenditure and ensure that they get maximum mile accrual. Reward points cards allow you to gain points and then redeem it for privileges and discounts. UnionPay credit cards are best for people who frequently travel to China, as it supports transactions in two different currencies with no extra charges.

How do I pay online with UnionPay?

Paying online with UnionPay credit cards is just like paying with Visa or Mastercard credit cards. There are more than 10 million overseas online merchants that accept online payment via UnionPay, mostly based in China, Hong Kong, Macau, Japan and South Korea.

Can UnionPay be used in USA?

Many merchants and ATMs in the United States accept UnionPay credit cards. You will have no problem with merchants that use point-of-service systems like Square, which accepts UnionPay. Online services like Amazon, Uber, Lyft and food delivery apps usually accept UnionPay. However, do note that QuickPass, or the technology that UnionPay uses for contactless payments, is not available in the US as of end 2018.

What’s the difference between UnionPay and AliPay?

AliPay is a mobile payment platform that acts like a digital wallet. You can use it to pay via smartphones, tablets and computers by scanning a system-generate dynamic QR code. UnionPay is a card issuer as well as a major debit card provider in China. It’s very commonly accepted in China and most government services accept UnionPay. You can also pay using QuickPass (contactless payments) and QR codes, but many customers still use the physical cards. One key benefit of using UnionPay debit and credit cards is that you can withdraw funds from overseas ATMs when you travel, which you cannot do with WeChat or AliPay.