As you may know, banks and financial companies rely on credit card annual fees as a source of income. However, due to cutthroat market competition, most credit cards offer fee waivers for the first 1–5 years nowadays. But what about when the fee waiver period ends? Which credit cards offer a permanent annual fee waiver? How much do other credit cards charge in annual fees, and what are their fee waiver requirements? What are the ways to apply for credit card fee waivers?
No sweat, that’s why MoneySmart is here to answer these burning questions! Let’s dive in!
Table of contents: No annual fee credit card
- Best no-annual-fee credit cards overview in Hong Kong
- Featured no-annual-fee credit cards with the most cash back
- Featured no-annual-fee credit cards with airport lounge access
- 5 easy ways to apply for an annual fee waiver
- Credit cards that are not eligible for an annual fee waiver
- Fee waiver hotline
What is a credit card's annual fee?
Back in "ancient times," the operating costs of credit cards were high, and a fixed fee was charged to customers once a year to maintain the rewards and benefits. But now most credit cards offer at least a first-year fee waiver, and some new cards even offer a permanent fee waiver.
Best no-annual-fee credit cards in Hong Kong
Credit card annual fees (mostly around HK$600–HK$2,000) can put a dent in your wallet. Luckily, most banks offer fee waivers for new customers, so you can save some dough. However, beware of premium credit cards' waiver periods. Here is an overview of the best perpetual, no-annual-fee credit cards:
| No Annual Fee Credit Card | New Customer Annual Fee Waiver | Annual Fee |
| Hang Seng MMPOWER World Mastercard | Perpetual annual fee waiver | HK$0 |
| Hang Seng enJoy Card | Perpetual annual fee waiver | HK$0 |
| Standard Chartered Smart Card | Perpetual annual fee waiver | HK$0 |
| DBS Compass Visa | First year | HK$1,800 |
| EarnMORE UnionPay Diamond Card | First 2 years | HK$800 |
| CNCBI Motion Credit Card | Perpetual annual fee waiver | HK$0 |
| DBS Black World Mastercard | First year | HK$3,600 |
| Standard Chartered Cathay Mastercard | First year | HK$2,000 |
| WeWa UnionPay Diamond Card | First 2 years | HK$1,500 |
| Citi Rewards MasterCard | First year | HK$1,800 |
| Citi Cash Back Card | First year | HK$1,800 |
| Citi PremierMiles Card | First year | HK$1,800 |
| DBS Live Fresh Credit Card | First year | HK$1,800 |
| HSBC Visa Signature Card | First 2 years | HK$2,000 |
| HSBC Red Credit Card | Perpetual annual fee waiver | HK$0 |
| Dah Sing MyAuto Credit Card | First 2 years | HK$1,800 |
| Dah Sing British Airways Platinum Card | First 2 years | HK$1,800 |
| Hang Seng MUJI Card | Perpetual annual fee waiver | HK$0 |
| CCB eye Credit Card | Perpetual annual fee waiver | HK$0 |
Featured no-annual-fee credit cards with the the most cashback
There are many credit cards that offer permanent fee waivers for those who are not big credit card users. If you're looking for credit cards that offer the most cash back, here are 2 good options:
- Standard Chartered Smart card
- Hang Seng enJoy card
These cards offer both great rewards and permanent fee waivers.
Standard Chartered Smart Card
The Standard Chartered Smart Card is a killer in the cashback field. Not only does it have no annual fee, but also offers a generous 5% cash back on purchases at various merchants, including 759 Store, Circle K, Klook, Deliveroo, SaSa, Watsons, McDonald's, and more. The benefits extend to streaming services for video and music, such as Disney+, Netflix, JOOX, KKBOX, MOOV, and Spotify, with no minimum spending requirement!
【🌟June Exclusive: Apply to Earn HK$800 Cash Vouchers】.jpg)
From now until 30 June 2026, New Cardholders who successfully apply for Standard Chartered Smart Card now via MoneySmart to enjoy one of the following extra gifts:
・Plus Minus Zero XQH-X020 Air Purifier (Value: HK$2,398)
・Medicube Age-R Duo Beauty Set (Age-R Booster Cleanser + Booster Pro mini plus + PDRN Hydrating Gel Cleanser 200ml) (Value: HK$1,970)
・PHILIPS ADD4902BK Soda Maker 1200W (Value: HK$1,288)
・HK$800 Apple Store Gift Card/ HKTVmall e-Vouchers/ ParknShop e-Vouchers
Hang Seng enJoy card
The Hang Seng enJoy card is another option to consider when it comes to cashback. The cashback is offered in the form of yuu reward points, which can be earned by making purchases at various convenience stores, supermarkets, and restaurants.
- Annual fees
- Perpetual annual fee waiver
- Cash back on local spend
- 2％
- Welcome Offer
- Up to 140,000 yuu Points
【Get Your Daily yuu Boost with enJoy】Apply and Get up to HK$1,970 rewards 🎁 or HK$900 vouchers!
From now until 30 June 2026, customers who successfully apply for Hang Seng enJoy Card via MoneySmart and accumulate HK$100 in eligible retail transactions within 30 days after card issuance , can 🌟choose 1 from the following gifts:
🎁 New Customers can enjoy one of the rewards below:
・Medicube Age-R Booster Cleanser + Booster Pro mini plus + PDRN Hydrating Gel Cleanser 200ml (Value: HK$1,970) or
・Acer Acerpure Chef 2 in 1 Filp Air Fryer (KF754-70B) (Value: HK$1,298) or
・4 x Plaza Premium Lounge APAC 3 hrs Access Pass (Total value: HK$2,600) or
・HK$900 Apple Store Gift Card / Maxim's Gift e-Coupons
⠀⠀
✨ Existing Customers can also enjoy one of the rewards below:
・HK$400 Apple Store Gift Card / Maxim's Gift e-Coupons
・Plaza Premium Lounge APAC 3 hrs Access Pass (Value: HK$650)
Featured no-annual-fee credit cards with airport lounge access
A credit card that has airport lounge access but no annual fee seems impossible. But WeWa UnionPay Diamond Card and EarnMORE UnionPay offer quite a deal: as long as you spend at least HK$12,000 for 2 consecutive months, you can get 3 visits per year to LoungeKey airport lounges.
Though these 2 credit cards do not offer perpetual annual fee waivers, you can easily waive the annual fee by following the tips below.
EarnMORE UnionPay: 2% rebate for all spending
- Min. Annual Salary
- HK$0
- Cash back on overseas spend
- 2%
- Cash back on local spend
- 2%
🌟Exclusive Deal Alert【PrimeCredit x MoneySmart - Welcome Offer up to HK$970 cash rewards】
MS Exclusive: From now until 30 June 2026, new customers who successfully applied for EarnMORE UnionPay Diamond Card via MoneySmart, can earn 2,000 SmartPoints without any spending and redeem HK$200 worth of vouchers in the Rewards Store (over 20+ brand vouchers including Apple / Wellcome/ HKTVmall etc)!. Click here for more details. T&C applied. (fulfilled by MoneySmart)
⠀⠀
New PrimeCredit Credit Card Customers can also enjoy PrimeCredit Welcome Offer Extra HK$300 cash rebate AND one of the following Welcome offers:
・HK$670 cash rebate (included the extra up to 2% cash rebate)
・Philips RO Water Dispenser (ADD6901) (Suggested price: HK$2,488)
・Garmin Forerunner 165 GPS Smartwatch (Suggested price: HK$2,299)
・Up to HK$90K Interest-free and Handling Fee-free Cash Instalment Program
・Tertiary Student: HK$200 Cash Rebate (Extra reward fulfilled by PrimeCredit)
⠀⠀
See more details below
WeWaV Visa Signature Card: Up to 10% rebate for a limited time
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- Mobile Payment
- Up to 4%
- Annual Fee
- First 2 year annual fee waiver
- Specific Fun Category
- Up to 4%
【😱 Exclusive Deal: Earn Mobile Payment up to 100% cash rebate!】
From now until 30 Jun 2026, new customers who applied for a designated credit card: WeWa Visa Signature Card / WeWa Visa Platinum Card/ WeWa UnionPay Diamond Card via MoneySmart, can enjoy one of the following exclusive rewards upon successful approval - no spending required:
・2,000 SmartPoints - without any spending and redeem HK$200 worth of vouchers in the Rewards Store (over 20+ brand vouchers including Apple / Wellcome/ HKTVmall etc)!. Click here for more details. T&C applied. (fulfilled by MoneySmart)!⠀
New customers of PrimeCredit Credit Card can also earn up to 100% cash rebate via mobile payments (up to HK$1,000), plus select one of the following 🌟welcome offers:
．LOJEL Vita 28" Luggage (Suggested price: HK$1,700)
．HK$800 Apple Store Gift Card
．HK$500 cash rebate
・Up to HK$90K Interest-free and Handling Fee-free Cash Instalment Program
・Exclusive Welcome Offer for Tertiary Student: HK$200 Cash Rebate (Extra reward fulfilled by PrimeCredit)⠀⠀
See more details below
HSBC Red Credit Card: 4% cash back or HK$2.5/mile for online shopping
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- Min. Annual Salary
- HK$120,000
- RewardCash Rebate at designated merchants
- Up to 8%
- Welcome offer
- Up to $500 RewardCash
【Earn Trip.com promo codes & Up to HK$398 rewards at ZERO Cost + Limited-time Chance to Win $50,000 RewardCash】
🌟From now until 30 Jun 2026, new and existing credit card customers who successfully apply for a designated HSBC credit card through MoneySmart and submit a rewards redemption form on or before 15 Jul 2026, can enjoy an exclusive gift from MoneySmart: 🏖️Trip.com 8% Hotel Booking Promo Code + HK$100 Flights Promo Code and 🎁ONE of the following exclusive rewards (choose one):
・ Doshisha Gorilla Calf Massager (Value: HK$398, random color)
・ Stanley The Quencher H2.0 Flowstate™ Tumbler 880ml / 30oz. (Value: HK$380, random color)
・ Branden Safe Plus Wallet Bag (Value: HK$305, random color)
Successfully apply for the card and complete designated tasks:
🌟 Enjoy bank welcome offer up to $500 RewardCash
🌟 Register to enter the 【Limited-Time Welcome Lucky Draw】—Guaranteed Prize: $50 RewardCash; orGrand Prize: $50,000 RewardCash (or up to 1,000,000 miles*) (24 Winners)(Promotion ends 31 Jul 2026)!
5 easy ways to apply for an annual fee waiver
Most banks or financial institutions waive the first-year annual fee for credit cards to attract new customers. However, after the first-year waiver period, how can we apply for a waiver of the annual fee for the following year? Here are 5 easy ways to apply for a waiver of the annual fee.
1. Call the bank to waive your annual fee
If your credit card does not state the conditions for an annual fee waiver, or if the conditions are stated but not met, you can try calling the bank 11 months after the card is issued or after the annual fee is charged to see if you are eligible for a waiver.
Generally, as long as you pay your bills on time and frequently use the card for transactions, the bank will waive the next year's annual fee for you immediately.
Check out Credit Card All-in-One Hotline Shortcuts Guide for details.
2. Annual fee waiver with spending requirements
Some credit cards specify in their terms and conditions that cardholders can have their annual fee waived for the following year if they spend a certain amount within a year
| Credit Card | Annual Spending Requirement |
| American Express Blue Cash Credit Card | HK$25,000 |
| American Express I.T Cashback Credit Card | HK$25,000 |
| HSBC EveryMile Credit Card | HK$80,000 |
| Citi Cash Back Credit Card | HK$100,000 |
| Citi PremierMiles Credit Card | HK$100,000 |
| Standard Chartered Asia Miles Mastercard | HK$150,000 |
3. Waiving credit card annual fees for designated customers
Even if the spending requirements are not met, some credit cards will waive the annual fee for designated customers (usually those who hold other accounts with the issuing bank).
As for the Standard Chartered credit cards, the annual fee is waived for "Priority Banking" customers, "Premium Banking" customers who meet the minimum total balance requirement, or Bonus Payroll Account customers.
4. Exchanging points for an annual fee waiver
Instead of using points to waive the annual fee, it's better to try your luck by calling the bank's hotline. Only use your points as a last resort if the request for a waiver is denied.
5. Apply for exemption from the annual fee through the app
Some banks have made it easier to apply for an exemption from annual fees through their apps. (No more phone calls!) Standard Chartered Bank's app even has an option for applying for an annual fee exemption, making it a breeze for its cardholders.
Credit cards that are not eligible for an annual fee waiver
Some credit cards target high-income earners and offer special privileges and services, and many premium credit cards explicitly state that they do not offer annual fee waivers.
For example, the Citi Prestige Card, which requires an annual income of HK$600,000, charges an annual fee of HK$3,800, which must be paid immediately upon approval. Similarly, the American Express Platinum Card has a high annual fee of HK$7,800 and cannot be waived. In return, these cards offer higher rewards points/miles and generous perks such as unlimited access to airport lounges.
- Minimum Income Requirements
- HK$600,000
- Miles Conversion (local spend)
- HK$6 = 1 Mile
- Miles Conversion (overseas spend)
- HK$4 = 1 Mile
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- Min. Annual Salary
- HK$300,000
- Cash back on local spend
- 1％
- Miles Conversion (local spend)
- $6 = 1 Mile
Credit card fee waiver hotline
Here's a handy list of hotline shortcuts to help you with your credit card annual fee waiver.
| Bank | Waive Annual Fee Hotline | Shortcut |
| AEON | 2895 6262 | Please contact customer service representative directly |
| American Express (Amex) | 2277 1010 | Please contact customer service representative directly |
| Bank of China (BOC) | 2853 8828 | Press 3 > 4 > 2 |
| Bank of Communications | 2239 5559 | Please contact customer service representative directly |
| Bank of East Asia (BEA) | 3608 6628 | Press 2 > 3 ＊ > 3 > 1 |
| China CITIC Bank International | 2280 1288 | Press 3 > 3 > 3 |
| China Construction Bank (CCB) | 3179 5533 | Please contact customer service representative directly |
| Chong Hing Bank | 3768 8888 | Please contact customer service representative directly |
| Citibank | 2860 0333 | Follow the dynamic menu to select related options |
| Dah Sing | 2828 8168 | Press 2 > 6 |
| DBS | 2290 8888 | Press 3 > 1 > 1 |
| Fubon Bank | 2566 8181 | Press 2 > 1 > 4 > 1 |
| Hang Seng | 2398 0000 | Press 3 > 6 |
| HSBC | 2233 3000 | Press 2 > 3 > Say “Waive annual fee” |
| ICBC Asia | 2189 5588 | Please contact customer service representative directly |
| OCBC Wing Hang Bank | 2815 1123 | Please contact customer service representative directly |
| Prime Credit | 2269 8899 | Press 2 > 4 > 5 |
| Standard Chartered | 2886 4111 | Press 2 > 1 |
| Shanghai Commercial Bank | 2818 0282 | Press 3 > 5 |
| Wing Lung Bank | 2309 5555 | Press 2 > 4 |
Frequently asked questions about credit card annual fees
Can all credit cards apply for an annual fee waiver?
Unfortunately no. For example, some high-end credit cards with more services and benefits, such as Citi Prestige, AE Platinum Credit Card, and AE Platinum Card, cannot waive annual fees.
Is a permanent waiver of annual fees applicable for supplementary cards?
Some banks offer their designated customers a permanent waiver of credit card annual fees, but this offer may not be applicable for supplementary cards. The annual fee for supplementary cards may differ from that of the primary card, so it is important to carefully review the related fees and exemption requirements before applying for a supplementary card.
If I fail to meet the minimum spending requirement, can I still apply for an annual fee waiver?
If you fail to meet the minimum spending requirement, you can call the customer service hotline to apply for an annual fee waiver. Some banks also offer their designated customers a permanent waiver of annual fees.
Before applying, remember to carefully read the terms and conditions.
What can I do if I want to waive annual fees?
Except for credit cards that cannot waive annual fees, there are 5 ways to apply for a waiver, including opening a designated bank account, spending a specified amount with the card, calling the bank hotline to apply, redeeming points for an annual fee waiver, and applying for a waiver through the bank app.
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