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|Credit Card||Minimum Salary||Annual Fee|
|Standard Chartered Simply Cash Credit Card||HK$96,000||HK$1,800|
|Citi Rewards MasterCard||HK$150,000||HK$1,800|
|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|
|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 Red Card||HK$120,000||HK$0|
|DBS COMPASS VISA||HK$100,000||HK$1,800|
|Dah Sing ONE+ Credit Card||HK$150,000||HK$1,800|
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.
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.
There is no absolute for the best credit card, you should 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.
Visa and Mastercard credit cards are both globally accepted and offer different perks for members in different tiers, the most common types of Visa and Mastercard credit cards include Visa Platinum, Visa Signature, Visa Infinite, Titanium & Platinum Mastercard, World Mastercard and World Elite Mastercard.
Both Visa and Mastercard offer its own network benefits including travel, luxury hotel, dining and more when it comes to foreign spending, Mastercard often offers slightly better exchange rate, but for everyday card users, there is not much difference between Visa and Mastercard. It is suggested to find the right credit card by focusing on each card offer and perks of your choice, and be aware of annual fee, cash back, air miles or rewards that you are looking for.
There is no absolute limit on the number of credit cards you can have. Having more than one credit card can allow you to get different credit card offers and benefits for different cards, you can also earn various rewards like air miles or cashback on your daily spending.
However, applying for too many credit cards at a time can hurt your credit score and the chances of credit card approval. Even though the damage on credit scores are only temporary, if you are hoping to get a mortgage or personal loan in the coming months, it is best to keep your credit report nice and clean.
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.