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Having a credit card in Hong Kong is essential, not only for convenient payments but also for perks like cashback, air miles, and travel benefits, helping you optimise your spending and savings.

In fact, 52% of point-of-sale (POS) sales in Hong Kong are made using credit cards, making it the dominant payment method despite the rise of digital wallets.

However, choosing the right credit card can be overwhelming, especially for first-time users. In this article, we’ve handpicked the 5 best credit cards in Hong Kong, catering to various needs. Whether you’re looking for lifestyle rewards or business benefits for your SME, these options are worth considering. 

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Note: All information provided below is dated 20 November 2024 and may have been updated since. Please check each credit card provider's website for the latest information.

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Credit cards are widely accepted as a payment method throughout Hong Kong, providing a convenient and reliable payment option. Nowadays, all my cards are on my Apple Pay, making payment super easy.

Aaron Gurung, Sales Development Representative at Statrys
Aaron Gurung
Sales Development Representative, Statrys
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Comparison Table

Credit Card

Annual Fee

Reward Type

HSBC Red Credit Card

HKD 0

Cashback

Standard Chartered Cathay Mastercard®

HKD 0 (1st Year; HKD 2,000 thereafter)

Air miles

Citi Prestige Card

HKD 3,800

Points and air miles

Hang Seng HKD Commercial World Mastercard®

HKD 980

Cashback

American Express Platinum Card

HKD 9,500

Points

1

HSBC Red Credit Card

Best Feature: Cashback rewards program with no annual fee.

The HSBC Red Credit Card, offered by HSBC Hong Kong, offers various rewards and benefits, including cash rebates on designated spending categories, such as supermarket shopping, dining, and overseas spending in foreign currencies. 

As of 2024, it also offers welcome offers that include a perpetual annual fee waiver and an extra HKD 200 RewardCash for new customers who successfully apply for Cash Instalment Plan. 

Important Information About HSBC Red Credit Card

  • APR for Purchases: 35.42% Annualised Percentage Rate (APR) on unpaid statement balance.
  • APR for Cash Advance: 35.94%
  • Interest-Free Period: Up to 56 days
  • Minimum Payment Due: HKD 300 or total fees plus 1% of the statement balance
  • Annual Fees: Waived permanently
  • Foreign Currency Transaction Fees: 1.95% of every card transaction in currencies other than HKD. 

HSBC Red Credit Card's Key Benefits

  • Up to 4% RewardCash rebate on the first HKD 10,000 spent online, followed by an unlimited 1% RewardCash for additional online spending each calendar month.
  •  1% RewardCash on eligible spending categories, including dining at local restaurants,  health and leisure, grocery and furniture shopping, and overseas spending in mainland China, Macau, and other foreign countries. 
  • Receive HSBC Reward+ stamps when spending a designated amount in a single transaction at a specific merchant.
  • Welcome offers for new credit card customers. 

HSBC Red Credit Card Eligibility

Individuals with a valid HKID or an employment contract of at least 9 months in Hong Kong, with an annual income of HKD 120,000 or above, are eligible to apply for the HSBC Red Credit Card. Existing HSBC customers can apply via HSBC Personal Internet Banking, while new customers can also apply online through the website. 

Pros and Cons of the HSBC Red Credit Card

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Pros of HSBC Red Credit Card

  • Generous online shopping rewards
  • No annual fees
  • Compatible as a virtual card to add to a mobile wallet, like Apply Pay and Samsung Pay.

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Cons of HSBC Red Credit Card

  • Less competitive rewards for non-online spending.

Standard Chartered Cathay Mastercard®

Best Feature: Travel miles reward programme, especially for frequent flyers with exclusive Cathay Pacific benefits.

Standard Chartered Cathay Mastercard®, formerly Asia Miles Mastercard®, offers a travel miles reward programme that allows you to earn miles through credit card spending. The card is available in three tiers, each providing exclusive benefits, such as Cathay Pacific airport lounge access and priority check-in and boarding services, based on your banking relationship with Standard Chartered.

Important Information About Standard Chartered Cathay Mastercard®

  • APR for Purchases: 35.70%
  • APR for Cash Advance: 35.93%
  • Interest-Free Period: Up to 56 days
  • Minimum Payment Due: HKD or CNY 220 or total interest, fees, and 1% of the outstanding principal, whichever is higher
  • Annual Fees: Waived for the first year; HKD 2,000 thereafter (entry-level card)
  • Foreign Currency Transaction Fees: All foreign currency transactions are converted to HKD at Mastercard®'s rate with a 1.95% fee (1% by Mastercard® and 0.95% by the bank).

Standard Chartered Cathay Mastercard®’s Key Benefits

  • Up to 60,000 Miles for new cardholders
  • Earn miles based on your spending within the first 2 months of card issuance, such as 5,000 miles for HKD 1,000 and 15,000 miles for HKD 5,000.
  • Up to HKD 2 to 6 per 1 Asia Mile for eligible overseas and local spending.
  • Exclusive offer of HKD 4 per 2 Asia Miles at Cathay partner restaurants.
  • Other limited-time promotional offers.

Standard Chartered Cathay Mastercard® Eligibility

To apply for a Standard Chartered Cathay Mastercard®, you must:

  • Be a Hong Hong resident aged 18 or above
  • Meet the minimum annual income requirement of HKD 96,000 or above
  • Is an existing Cathay Member

If you meet these criteria, you can apply through Standard Chartered's online credit card application.

Pros and Cons of the Standard Chartered Cathay Mastercard®

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Pros of Standard Chartered Cathay Mastercard®

  • Generous travel miles reward programme for frequent flyers.
  • Multiple tiers to suit different banking relationships and needs.
  • Competitive welcome miles offer for new applicants.

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Cons of Standard Chartered Cathay Mastercard®

  • Annual fees apply after the first year for all tiers.
  • Rewards are primarily focused on Cathay Pacific, limiting value for non-Cathay flyers.
  • Requires existing Cathay membership to apply.

3

Citi Prestige Card

Best Feature: Generous reward program with a focus on luxury travel and dining privileges.

Citi Prestige Card is one of Citibank Hong Kong's various credit cards. This credit card offers year-round privileges and deals, such as cash vouchers, dining privileges, a “quick cash” instalment programme, and global airport lounge access for principal cardholders. 

Existing Citibank account holders can enjoy a welcome offer of 60,000 Miles (720,000 Points) when applying for the Citi Prestige Card, while new customers are eligible for 30,000 Miles (360,000 Points).

Important Information About Citi Prestige Card

  • APR for Purchases: 34.28%
  • APR for Cash Advance: 35.81%
  • Interest-Free Period: Up to 58 days
  • Minimum Payment Due: The current month’s interest, fees, past dues, 1.5% of the statement balance, and 1.5% of unpaid loan principal (if applicable).
  • Annual Fees: HKD 3,800
  • Foreign Currency Transaction Fees: 1.95% of every transaction in a currency other than HKD. 

Citi Prestige Card's Key Benefits

  • Dining privileges, including exclusive savings, benefits, and complimentary drinks at selected Hong Kong fine dining and MICHELIN restaurants. 
  • Complimentary access to over 1,300 airport lounges worldwide.
  • Earn 1 Mile for every HKD 4 spent overseas and HKD 6 spent locally.
  • An annual Thank You Gift of 20,000 Miles.
  • Various instalment programmes.
  • Control your credit card’s security and transactions on the Citi Mobile App. 

Citi Prestige Card Eligibility

To get a Citi Prestige Card, the applicant must be at least 18 years old, have a valid Hong Kong Identity Card, and have an annual income of at least HKD 600,000. Eligible individuals can sign up online through the website on their phone or computer. 

Pros and Cons of the Citi Prestige Card

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Pros of Citi Prestige Card

  • Generous welcome offers and various rewards and benefits.
  • Exclusive dining and travel benefits, including priority booking services and travel insurance coverage.
  • Long interest-free period of up to 58 days, which is longer than many other banks.

A red cross illustrating cons

Cons of Citi Prestige Card

  • High annual fee and annual income requirement. 
  • Miles earning rates are less competitive for local spending compared to overseas.

4

Hang Seng HKD Commercial World Mastercard®

Best Feature: Significant cash rebates on online foreign currency transactions.

Hang Seng Bank, a renowned financial institution in Hong Kong, offers a range of credit cards for both individuals and businesses. Among their business offerings are the Visa Platinum Commercial Card and the HKD Commercial World Mastercard®.

The Hang Seng HKD Commercial World Mastercard® is designed for businesses, offering secure and convenient spending, virtual card options, and a range of business-friendly benefits. 

Important Information About Hang Seng HKD Commercial World Mastercard®

  • APR for Purchases: 35.72%
  • APR for Cash Advance: 35.98%
  • Interest-Free Period: Up to 56 days
  • Minimum Payment Due: HKD 300 
  • Annual Fees: HKD 980
  • Foreign Currency Transaction Fees: 1.95% of every transaction effected in a currency other than HKD. 

Hang Seng HKD Commercial World Mastercard®'s Key Benefits

  • Unlimited 2.8% cash rebate on online foreign currency transactions with designated merchants, including Google, Amazon, Xero, and Shopify.
  • Virtual cards for secure online payments.
  • Free travel insurance coverage of up to USD 100,000.
  • Worldwide airport lounge access with Mastercard® Travel Pass.
  • Exclusive offers and discounts on workspace and financial services, such as Microsoft and Google Workspace.

Hang Seng HKD Commercial World Mastercard® Eligibility

You must have a business account with Hang Seng Bank to be eligible for the HKD Commercial World Mastercard®. If you are an existing business banking customer, simply login to the Online Application Platform or apply at a branch using a PDF application form.

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Tip: Learn more about how to open a Hang Seng Bank Business Account online in our step-by-step guide. 

Pros and Cons of the Hang Seng HKD Commercial World Mastercard®

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Pros of Hang Seng HKD Commercial World Mastercard®

  • Offers significant value for businesses with frequent international transactions.
  • Provides cost-saving opportunities for companies using workspace and financial tools through exclusive discounts.
  • Moderately low annual fee of HKD 980, making it accessible for SMEs and smaller businesses.

A red cross illustrating cons

Cons of Hang Seng HKD Commercial World Mastercard®

  • Requires an existing business account with Hang Seng Bank, limiting accessibility
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Looking for more business credit cards? Explore our top picks

5

American Express Platinum Card

Best Feature: Generous rewards programme for new cardholders.

In addition to Visa, Mastercard®, and UnionPay credit cards, American Express is another widely used credit card provider in Hong Kong.

The American Express Platinum Card offers benefits such as statement credits, complimentary lounge access, AmEx Travel Online perks, global dining credits, movie privileges, and travel and shopping protections.

Important Information About American Express Platinum Card

  • APR for Purchases: Not applicable
  • APR for Cash Advance: Not applicable 
  • Interest-Free Period: Not applicable 
  • Minimum Payment Due: Not applicable
  • Annual Fees: HKD 9,500 (2 free supplementary cards)
  • Foreign Currency Transaction Fees: 2% of the converted HKD amount.

American Express Platinum Card's Key Benefits

  • 2 complimentary supplementary cards
  • Earn up to 100,000 bonus reward points online with your first transaction within the first 3 months of card approval.
  • Receive up to HKD 2,200 in statement credits annually for prepaid hotel and car rental bookings.
  • Receive up to HKD 2,000 in statement credits annually for spending at over 1,400 participating restaurants worldwide.
  • Access to over 1,400 airport lounges worldwide.
  • Year-round offers at various Hong Kong hotels.
  • Retail spending protection, including return guarantee and price protection. 

American Express Platinum Card Eligibility

Hong Kong and Macau citizens or residents aged 18 or older can apply for preliminary approval online through American Express’s website. While the annual income requirement is not specified, you must provide this information during the application process.

Pros and Cons of the American Express Platinum Card

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Pros of American Express Platinum Card

  • Year-round exclusive offers enhance lifestyle experiences with premium dining and hotel privileges in Hong Kong.
  • Comprehensive travel insurance and purchase protection ensure peace of mind during trips and shopping.

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Cons of American Express Platinum Card

  • High annual fee of HKD 9,500, which may not be justifiable for those who don’t fully utilise the card’s premium benefits.

Key Things to Consider When Choosing Credit Cards

Choosing the right credit card can make a significant difference in managing your finances and maximising rewards. Here are some key factors to consider to ensure the card aligns with your spending habits and financial goals, helping you make the most of it.

Spending Preferences

What and where you spend will determine the best credit card fit. Say you fly a lot, get a card with air miles, hotel spending discounts, and longue access. If you're a committed online shopper, get a card with a generous cashback. If you occasionally need cash or want to prepare for emergencies, consider a card with low or no fees for ATM withdrawals. 

Rewards Programmes

A closer look at the reward programmes will help you understand how the card can benefit you and determine whether it’s worth having.

Most credit card issuers offer reward programmes such as:

  • Air Travel Miles: Earn points or miles for travel-related purchases and redeem them for discounted flights, hotel stays, airport lounge access, baggage fee waivers, and other travel perks.
  • Cashback: Earn a percentage of your spending back through statement credits, direct deposits, redeemable points, or similar methods. Some cards offer a flat rate on all purchases, while others provide higher rates for specific categories.
  • Discounts: Collect points on eligible spending and exchange them for discounts or gift cards at retail shops, restaurants, and entertainment venues. Some cards also include bonus points and exclusive deals with participating merchants.

Annual Fees

Annual fees are fees paid each year to keep the credit card active. They vary depending on the card's tier and benefits. 

Consider comparing whether a card's benefits justify the fee by taking your preferences into account. When evaluating annual fees, the key is to ensure the benefits you receive make the fee reasonable.

For instance, a card with a high annual fee might not be the best choice if you're primarily interested only in cashback, as it often comes in a small percentage.

On the other hand, if you use a lot of travel perks, such as airport lounge access and travel insurance, a card with a reasonable or even higher fee could still be a good deal.

Moreover, when handling annual fees, the key is to leverage the card's benefits to ensure that the value you gain exceeds the fee. 

Additionally, some card issuers waive the annual fee for the first year or even permanently. If you're a long-time customer, consider contacting your bank to request a waiver of the annual fee.

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Tip: Credit cards may also have other fees, such as transaction fees, foreign exchange fees, and late payment charges, so be sure to review all the fees before making a decision.

 Interest Rate

The interest rate is the amount you must pay on your balance if you don't pay off your full statement by the due date, which is typically within 50 to 60 days after the closing date. 

The rate is usually expressed as the total yearly cost of borrowing, called an annual percentage rate or APR. The lower the APR, the better, which means less interest over time. 

Evaluating the interest rate is vital because it directly affects the cost of carrying a balance on the card, and high rates can hinder financial stability. It's also important to consider the minimum payment due and any late payment fees, as these can act as preventative measures to avoid being charged the APR.

Most banks, such as HSBC and DBS, provide clear information about the APR in a document called the Key Facts Statement, which can typically be found on the product page.

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Note: It's best to pay full balances on time for a healthy credit profile. However, if you're in debt, consider negotiating with the credit card issuer for a potential reduction.

Ease of Use

Look for broad acceptance, a simple application process, an easy point redemption process, a user-friendly app or web interface, digital wallet support and mobile payment compatibility (such as Apple Pay or Google Pay), and helpful customer service. 

After all, ease of use means convenient purchases, effortless management of your account, hassle-free benefits, and seamless integration with mobile wallets for secure transactions.

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A factor that influences my decision now is the convenience of the payment process. I own multiple cards from different banks — some banks with a well-designed app and a user-friendly interface and others with a lagging technology. It's a little more frustrating opening the latter because the payment flow isn't as smooth.

Aise Manuel
Digital Marketer, Statrys
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Minimum Spending Requirement

The minimum spending requirement is the amount you must spend using your credit card to enjoy certain rewards or to waive specific fees.

Choosing a credit card with a minimum spending requirement higher than your usual expenses may lead to overspending and debt. However, a lower minimum spending requirement may limit the rewards you can earn compared to cards with higher thresholds. 

To avoid these pitfalls, pick one that fits your budget, and find ways to meet the minimum spending requirement without overspending, such as paying utilities, buying gift cards for future use, planning ahead for big purchases, or covering large expenses for friends or family and getting reimbursed.

Annual Income

Annual income refers to the total amount you earn in a year and is a common requirement for credit card applications.

Applying without meeting income requirements will lead to rejection. While getting rejected does not directly lower your credit score in the long run, hard inquiries during the application process can stay up to two years and can impact your score for a few months.  

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Caution: Providing false information in credit card applications is illegal.

Final Thoughts

To get the most out of your credit card rewards, examine the full terms and conditions, diversify the cards you use for different purposes, keep an eye on bonus caps and limits to maximise your benefits, and redeem them before expiration. 

A good credit score is key at the end of the day, so always pay your bills on time and in full.

If you're seeking an alternative payment method in Hong Kong for your business, consider opening a business account with prepaid cards. This option offers a convenient way to manage expenses and streamline transactions. 

Statrys’ Prepaid Mastercard® for business offers:

  • HKD-denominated card with multi-currency payment capability (conversion fees apply).
  • Multiple cards for key employees.
  • Live transaction feed and ability to cancel or freeze spending via mobile app.
  • Expense tracking by category 
  • Point-of-sale purchase capability
  • Cash withdrawals from participating ATMs
  • Excellent customer support
Sample Statrys payment cards for CTA

FAQs

Which card is best to use in Hong Kong?

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The ideal credit card depends on your spending habits. However, here are our top picks for the best credit cards in Hong Kong:

1. HSBC Red Credit Card
2. Standard Chartered Cathay Mastercard®
3. Citi Prestige Card
4. Hang Seng HKD Commercial World Mastercard®
5. American Express Platinum Card

Which banks have the best credit cards?

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Which credit card is the most widely accepted in Hong Kong?

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