When it comes to credit cards, the cashback rate is the name of the game for shoppers. With the right cashback credit cards, you can have your cake and eat it too—earning cash while you indulge in your shopping spree. To help you find the cream of the crop, we’ve rounded up the most popular cashback credit cards and compared their cashback rates, income requirements, and cashback limits in this Cash Back Credit Cards comparison.
Table of contents: Best cashback credit cards
- Best Cashback Credit Cards
- Difference between Cashback, Cash Rewards, and Cash Rebates
- How to Find the Best Cashback Credit Cards for You
- Which Credit Card Offers the Highest Cashback
- Frequently Asked Questions: Cashback Credit Cards
- Related Articles
Best Cashback Credit Cards: Which credit card offers the highest cashback?
| Credit Card Cashback Offer Comparison | ||||
| Credit Card | Cashback Rate | Income Requirement | Spending Category | Short Review |
| Sim Credit Card | Up to 8% | HK$0 | Online shopping | Highest rebate rate for online shopping |
| DBS Live Fresh Card | Up to 6% | HK$150,000 | Online shopping | Must-have for online shoppers! |
| Standard Chartered Smart Card | Up to 5% | HK$96,000 | Designated supermarkets, stores, travelling agents | A full pack of welcome offers up to HK$1,200 |
| Hang Seng MMPower Card | Up to 6% | HK$150,000 | Online shopping, and overseas transactions | 6% for overseas spending, 5% for online spending and +1% FUN Dollars rebate for designated spending |
| HSBC Red Card | Up to 4% | HK$120,000 | Online spending | Perfect for online spending and local supermarket spending |
| Wewa UnionPay | Up to 4% | No income requirement | Daily entertainment spending | Cashback on designated merchant categories, including travel, cinemas, theme parks, and karaoke |
| HSBC Visa Signature Card | Up to 3.6% | HK$360,000 | Specific categories of rewards of your choice | High income requirement |
| EarnMore UnionPay Card | Up to 2% | No income requirement | All spending categories | 2% cashback for all eligible transactions |
| Hang Seng enJoy Card | Up to 2% | HK$150,000 | Pizza Hut, PHD, KFC, and designated Maxim’s Chinese cuisine restaurants, Mannings, Wellcome, IKEA, 7-Eleven,GNC, and Shell | 2% on dining, 1.5% on groceries, and 1% on gas, supplement |
| Citi Rewards MasterCard | Up to 2%
(250 points = HK$1 rebate) |
HK$120,000 | Local supermarkets, department stores, and telecom companies | Reward points never expire, and discounts for movie tickets |
| Citi Cash Back Card | Up to 2% | HK$120,000 | Dining and hotel spending | 2% rebate for dining in hotels and restaurants |
sim Credit Card: up to 8% rebate for online shopping
sim Credit Card is offering the highest cash rebate for online shopping. Plus, the credit card has no income requirement. A perfect card to keep in your wallet when you are a frequent online shopper.
When your spending reaches the monthly cap (HK$2,500), you can earn up to HK$200.
- Cashback on Online Retail Transactions
- Up to 8%
- Fee Waiver
- First Year Free
- Minimum Income Requirements
- N/A
【Welcome Offer up to HK$550】Earn up to 5% Cashback on Travel Spending!
From now until 31 December 2024, customers who successfully apply for a designated sim credit card (sim Credit Card/ sim World Mastercard®️) via MoneySmart can earn an extra 3,000 SmartPoints and free to redeem HK$300 vouchers (20+ brand vouchers, including Apple, HKTVmall, UBER etc). Click here to explore limitless possibilities (T&C applied)! Complete the digital ID verification on the sim Credit Card App within 3 hours after application, sim will offer an additional HK$50 cash rebate; fulfilling the spending requirement can earn sim welcome offer of up to HK$1,120. Enjoy the total rewards of up to HK$2,069!
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【🎄Double Rewards: Up to HK$1,120 Cash Rebate with X'Mas Flash Offer + Mobile Payment】
1. X'mas Flash Offer: During the promotion period, use sim Credit Card/ sim World Mastercard to accumulate a specific amount on non-online spending, earn up to HK$800 CashBack.
2. Mobile Payment Rewards: Up to 10% CashBack: During the promotion period, use sim Credit Card/ sim World Mastercard to accumulate HK$2,000 or more non-online Google Pay/ Apple Pay purchases in December, can earn up to 10% CashBack on non-online Apply Pay transactions with a single net purchase amount of HK$100 or more!
DBS Live Fresh Card: up to 6% rebate for online shopping
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- Min. Annual Salary
- HK$150,000
- Cash back on Online Overseas spend
- 1%
- Cash Back for Designated Online Transaction
- 5%
From now until 31 December 2024, customers who successfully apply for DBS Live Fresh Card via MoneySmart, can enjoy an extra 2,000 SmartPoints and free to redeem HK$200 vouchers (over 20+ brand vouchers including Apple / HKTVmall/ Trip.com etc). Click here to explore limitless possibilities (T&C applied)!
If you enjoy online shopping, the DBS Live Fresh Card is the card for you. With this card, you can earn up to 6% cashback on your purchases from a variety of 5% cash rebate rewards for various online spending categories, as well as a never-ending 1% cash rebate on foreign currency online purchases.
The online spending categories include the following:
- Online Entertainment Spending
- Online Fashion & Apparel Spending
- Online Travel Merchant Spending
- Online Foreign Currency Spending
- Online Charity Donations
Standard Chartered Smart Card
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- Cash back on spending at designated stores of HKTVmall
- 5%
- Cash back on local spend
- 5%
- MoneySmart Exclusive Offer
- HK$2,798
【MoneySmart Exclusive: Rewards up to HK$2,798💰】
From now until 2 January 2025, New Cardholders who successfully apply for Standard Chartered Smart Card now via MoneySmart to get JBL Charge 5 Portable Waterproof Speaker (Value: HK$1,998) or OSIM uCozy V V Neck & Shoulder Massager (Value: HK$1,780) or Rollink Flex (VEGA II) Collapsible Carry-On Suitcase (21inch) (Value: HK$1,299) or HK$700 Deliveroo Voucher + 12-month Deliveroo Plus Silver Membership Package (Value: HK$1,426) or HK$800 Apple Store Gift Card or HK$800 PARKnSHOP supermarket vouchers or HK$800 HKTVmall e-Vouchers.
Standard Chartered Smart Card is the only credit card that offers permanent annual fee waivers and cashback rewards under Standard Chartered Bank.
While the standard cashback rate for local purchases is only 0.55%, selected merchants such as ParknShop, Foodpanda, 759 Store, and Watsons provide up to 5% cashback. Furthermore, the card provides an unlimited 3-month interest-free payment and waives the 1.95% foreign exchange transaction fee for foreign currency transactions, you can enjoy no transaction fees while purchasing online in another country with ease!
Hang Seng MMPower Card: 6% for overseas spending, 5% cash back for online spending and 1% for selected categories
Hang Seng MMPower Card is perfect for those who enjoy shopping and movies at the same time. The card offers up to a 6% +FUN Dollars rebate for travel and foreign currency, 5% for online spending and 1% for selected spending categories, including dining, electronics and entertainment (choose 2 out of 3).
But note that the above cashback rate is only valid when your spending reaches the minimum requirement of HK$5,500.
Hang Seng enJoy Card: 4X yuu points (equivalent to a 2% rebate)
- Annual fees
- Perpetual annual fee waiver
- Cash back on local spend
- 2％
- Welcome Offer
- Up to 120,000 yuu Points
【Make Every Grocery Trip Count】
From now until 31 December, new credit card customers* who successfully applied for the Hang Seng enJoy Card via MoneySmart, simply spend HK$1,200 within 30 days after card issuance, can enjoy an extra 12,000 SmartPoints; existing customers who spend HK$700 within 30 days after card issuance, can also enjoy extra 7,000 SmartPoints!
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New customers can use 12,000 SmartPoints to fully redeem HK$1,200 vouchers (over 20+ brand vouchers including Apple / HKTVmall / Klook etc) or POLAROID Now+ i-Type Instant Camera + 5 lens filters (Value : HK$1,599) from our Rewards Store. You can also top-up to redeem AirPods 4 with Active Noise Cancellation (Value: HK$1,499). Existing customers can use 7,000 SmartPoints to fully redeem a SAMSUNG Galaxy Buds FE (Retail Value: HK$898) or HK$700 vouchers. Explore more other options available at our Rewards Store!
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【Bank Welcome Offer】Link enJoy Card to yuu Rewards Program and accumulate eligible retail spending of HK$6,000, New Credit Card Customers will be entitled to 120,000 yuu Points (equivalent to rewards worth HK$600); Existing Credit Card Customers will be entitled to 80,000 yuu Points (equivalent to rewards worth HK$400)!
Do you enjoy both pizza and fried chicken? If so, you’ll adore the Hang Seng enJoy Card! You may enjoy your Pizza Hut and KFC goodies guilt-free with up to 4X yuu Points (equal to a 2% rebate). And, with year-round exclusive discounts at selected retailers such as IKEA, you’ll be sure to get cashback for every dollar you spend while enjoying the most of what life has to offer.
What’s the difference between yuu Point and +FUN Dollars (Cash Dollars)?
yuu point and +FUN Dollars (Cash Dollars) are both rewards points earned from using a Hang Seng credit card.
To earn yuu points, simply make a purchase at specific merchants to earn 4X yuu points (2% cashback) with your Hang Seng enJoy Card, while 1 +FUN Dollar can be earned by spending HK$250 with any Hang Seng credit card at over 7,400 Cash Dollars merchants across Hong Kong.
| Card | Earnings | Redemption |
| Hang Seng enJoy Card | Spending on specific merchants can earn 2% cashback | yuu point can be redeemed as rewards or gifts, or 200 points can be used as HK$1 in specific shops |
| Any Hang Seng Credit Card | Spend HK$250 = $1 +FUN Dollar at over 7,400 Cash Dollars merchants across Hong Kong | 1 +FUN Dollars = HK$1, which also can be spent as HK Dollars at selected shops. |
HSBC Red Credit Card: 4% rebate for online spending
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- Min. Annual Salary
- HK$120,000
- RewardCash Rebate
- Up to 4%
- Designated spending categories RewardCash Rebate
- 1%
【MoneySmart Exclusive Offer】
By December 31, 2024, apply for the HSBC Red Credit Card through MoneySmart successfully and submit the rewards redemption form, you can earn HK$300 Apple Store Gift Card / HK$300 PARKnSHOP supermarket voucher.
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【Limited Online Flash Welcome Offer】
From now to 31 December 2024, Register and apply online for an eligible HSBC Credit Card and complete the Registration Form to earn one of the extra welcome offers. (Choose either 1, fulfilled by HSBC)
1.KOIZUMI Ion balance hair dryer KHD-9910(Suggested retail price: HK$600)
2.KOIZUMI Negative Ions Straight Iron World-wide voltage KHS-8710 (Suggested retail price: HK$600)
HSBC Red Credit Card is a perfect match for your online shopping secret, with up to 4% unlimited RewardCash rebate for online spending and 2% rebate for local supermarket spending. So go ahead and shop till you drop, and let the rewards roll in!
WeWa UnionPay Diamond Card: 4% rebates for “Travel”, “Cinema”, “Karaoke”, and “Theme Park”
- Min. Annual Salary
- HK$0
- Local, Overseas and Online Spending via selected mobile payments
- Up to 6%
- Cash rebate on travel spending and designated spending categories
- 4%
【MoneySmart Exclusive Offer】Want to get extra HK$200 vouchers from MoneySmart? From now until 31 December 2024, new customers who successfully applied for WeWa UnionPay Diamond Card via MoneySmart, can enjoy 2,000 SmartPoints without further spending! Use your SmartPoints to redeem vouchers of your choice worth HK$200 in the Rewards Store (over 20+ brand vouchers including Apple / Wellcome/ HKTVmall etc)!. Click here for more details. T&C applied. (fulfilled by MoneySmart)
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【PrimeCredit x MoneySmart】From now until December 31 2024, successfully applied WeWa UnionPay Diamond Card through MoneySmart and earn extra HK$100 cash rebate + Welcome offer : Osaka Round-trip Flight Tickets or HK$500 Cash Rebate or up to HK$90,000 Interest-free and Handling Fee-free Cash Instalment Program or Tertiary Student: HK$400 Klook e-Gift Card (Extra reward will be fulfilled by PrimeCredit)
If you’re a jet-setter, movie buff, karaoke star, or theme park enthusiast, the WeWa UnionPay Diamond Card has got you covered! With up to 4% cashback in specific categories, you can save tons while living your best life. So go ahead, indulge in your favorite activities, and let the WeWa UnionPay Diamond Card take care of the rest!
HSBC Visa Signature Card: 3.6% Reward Cash
- Min. Annual Salary
- HK$240,000
- RewardCash Rebate
- Up to 3.6%
- Miles Conversion (local spend)
- HK$2.78 = 1 Mile
【MoneySmart Exclusive Offer: Get 12 Months of Deliveroo Plus Silver Membership and a Cash Voucher for Free】
By December 31, 2024, successfully apply for the Visa Gold Card / Visa Signature Card / Visa Platinum Card through MoneySmart and submit the rewards redemption form, you can earn an additional 12 months of Deliveroo Plus Silver membership and a cash voucher redemption code (valued at HK$726) within 14 days after the promotion ends! (Limited offer, first come first served, while stocks last)! Terms and conditions apply.
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【Limited Online Flash Welcome Offer】
From now to 31 December 2024, Register and apply online for an eligible HSBC Credit Card and complete the Registration Form to earn one of the extra welcome offers. (Choose either 1, fulfilled by HSBC)
1.KOIZUMI Ion balance hair dryer KHD-9910(Suggested retail price: HK$600)
2.KOIZUMI Negative Ions Straight Iron World-wide voltage KHS-8710 (Suggested retail price: HK$600)
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New credit card customers can enjoy up to $800 RewardCash. Earn extra $200 RewardCash for new credit card customers who successfully apply for a Cash Instalment Plan, bringing the total value of the rewards to up to HK$1,000!
HSBC Visa Signature Card gives you up to 9X RewardCash, which is equal to a rebate of 3.6% or HK$2.78 for every mile. This includes an extra 3X more RewardCash rebate, in addition to the 5X more RewardCash rebate, for all types of Rewards of Your Choice.
The HSBC Visa Signature used to have a high income requirement, but the good news is the credit card has loosen the income requirement to HK$240,000/year.
EarnMORE UnionPay Diamond Card: 2% cashback from everyday spending
- Min. Annual Salary
- HK$0
- Cash back on overseas spend
- 2%
- Cash back on local spend
- 2%
【MoneySmart Exclusive Offer】Want to get extra $200 vouchers from MoneySmart? From now until 31 December 2024, new customers who successfully applied for EarnMORE UnionPay Diamond Card via MoneySmart, can enjoy 2,000 SmartPoints without further spending! Use your SmartPoints to redeem vouchers of your choice worth HK$200 in the Rewards Store(over 20+ brand vouchers including Apple / Wellcome/ HKTVmall etc)!. Click here for more details. T&C applied. (fulfilled by MoneySmart)
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[PrimeCredit x MoneySmart] From now until December 31, new customers of PrimeCredit Credit Card who successfully applyss EarnMORE UnionPay Diamond Card through MoneySmart and earn extra HK$100 cash rebate + Welcome offer: HK$670 cash rebate (included the extra up to 2% cash rebate) Or OTO Vanda 2.0 massage chair (VN-05) (Suggested price: HK$13,800) Or German Pool Smart Air Purifier Fan (EFB-426HM-SC) (Suggested price: HK$2,480) Or Up to HK$90K Interest-free and Handling Fee-free Cash Instalment Program or Tertiary Student: HK$400 Klook e-Gift Card (**Extra reward will be fulfilled by PrimeCredit)
A 2% rebate on coffee? 2% rebate on your electricity bill? And another 2% rebate on tuition fees? EarnMORE UnionPay Diamond Card provides up to a 2% cash rebate for all eligible transactions, with no minimum spending requirements. This makes it the perfect card for everyday spending.
Don’t forget that if you spend a total of HK$3,000, it also entitles you to 1 free visits to the Free Global Airport Lounge. (Terms and conditions may change. Please check here for the updates.)
(For more information about Best Airport VIP Lounge credit cards.)
Note that there is an annual maximum rebate of HK$1,500 per year. If you are a high-spender spending over HK$75,000, you may want to consider HSBC Visa Signature Card.
Citi Rewards MasterCard: 5X rewards points on wallet transactions
- Minimum Income Requirements
- HK$120,000
- Rebate on Shopping & Entertainment Transactions
- 3%
- Rebate for all local Mobile Payments
- 1%
【🎆 Year-End Exclusive: Up to HK$3,399 Rewards - only until the New Year!】
From now until 2 January 2025, New Customers who successfully applied for a designated Citi credit card via MoneySmart with an eligible spending of HK$4,000 after card issuance, can enjoy one of the exclusive rewards:
・[⚡️Limited-time Upgrade Offer!] HK$1,800 Apple Store Gift Card / PARKnSHOP Supermarket Voucher or
・BERMAS Spaceship Luggage 2.0 Suitcase (29inch) (Value: HK$3,399) or
・Bowers & Wilkins Pi7 S2 In-ear True Wireless earbuds (Value: HK$3,380) or
・De'Longhi ECOV311 Icona Vintage Series Pump-driven Espresso Coffee Machine (Value: HK$3,288) or
・YA-MAN HRF-10T RF Beauté Photo PLUS (Value: HK$3,180)!
With Citi Rewards MasterCard, you can earn 5X points for every wallet transaction with Apple Pay, Google Pay, and Samsung Pay. But that’s not all! You can also earn 3X points for all Mastercard contactless and payWave transactions. And the best part? Your points never expire, so you can redeem them for
- designated cash coupons,
- movie tickets, and
- air miles at Citi ThankYou℠ Rewards online or
- instantly offset your spending with Citi Pay with Points.
That’s right – every 250 points can instantly offset HK$1 of your spending. So start using your wallet to pay for everything and earn those sweet, sweet rewards!
Citi Cash Back Card: 2% cash back on dining in hotels and restaurants
- Annual Fee
- First Year Annual Fee Waiver
- Rebate on Overseas Spending & Local Dining
- Unlimited 2%
- Rebate on Local Spending
- Unlimited 1%
【🎆 Year-End Exclusive: Up to HK$3,399 Rewards - only until the New Year!】
From now until 2 January 2025, New Customers who successfully applied for a designated Citi credit card via MoneySmart with an eligible spending of HK$4,000 after card issuance, can enjoy one of the exclusive rewards:
・[⚡️Limited-time Upgrade Offer!] HK$1,800 Apple Store Gift Card / PARKnSHOP Supermarket Voucher or
・BERMAS Spaceship Luggage 2.0 Suitcase (29inch) (Value: HK$3,399) or
・Bowers & Wilkins Pi7 S2 In-ear True Wireless earbuds (Value: HK$3,380) or
・De'Longhi ECOV311 Icona Vintage Series Pump-driven Espresso Coffee Machine (Value: HK$3,288) or
・YA-MAN HRF-10T RF Beauté Photo PLUS (Value: HK$3,180)!
Get ready to dine in style and earn cash while you’re at it with the Citi Cash Back Card! This credit card offers a tasty 2% rebate for dining in hotels and restaurants, as well as a savory 1% rebate for other local spending. And if that’s not enough to whet your appetite, you can also earn an extra 1% rebate by binding this card with e-wallets like PayMe, AlipayHK, and WeChat Pay.
Difference between Cashback, Cash Rewards, and Cash Rebates
Before we dive into determining the best cashback credit card, let’s first define some terms. Cashback and cash rebates both refer to a credit card feature that refunds a small percentage of money spent on purchases. However, cash rewards are specific cash rebates that can only be used at certain merchants.
Note that for most cashback credit cards, the cashback is credited directly to your credit card account to offset your monthly spending rather than being received as actual cash. So while you may be earning “cashback,” you won’t necessarily be receiving cash in hand.
How to Find the Best Cashback Credit Cards for You
If you want a card that can be used for everyday purchases across different categories, you need to compare “cashback rates,” “spending conditions,” and “rebate monthly cap” It’s important to be savvy when it comes to credit card rewards!
Cashback rates
Cashback rates refer to the percentage of cashback received from the amount spent. For example, if you use the Standard Chartered Smart Card for spending at Decathlon, you will receive an 8% cashback. (Valid until August 31, 2023)
Spending conditions
To choose the best cashback credit card, you must first understand your spending habits. Are you a fan of online shopping, supermarket purchases, or dining deals? Many credit cards offer higher cashback rates in specific categories. For example, the Hang Seng MMPOWER credit card offers s up to 5.4% +FUN Dollars as a form of cash rebates under a specific spending categories. And +FUN Dollars can only be redeemed at select merchants.
Rebates monthly cap
Before making your spending plan, it’s important to keep in mind the maximum amount of cash rebates you can receive per month, also known as the “rebates monthly cap.”
Frequently Asked Questions: Cashback Credit Cards
What is cashback?
Cashback is a type of incentive offered by banks and credit card companies where a certain percentage of the amount spent on purchases is returned to the customer. The amount of money returned to the customer depends on how much they spent and the cashback rate.
For example, if you use the Standard Chartered Smart Card (which gives 5% cash back for spending in HKTV Mall) to spend HK$1,000, you will get HK$50 back!
What’s the difference between rewards and cashback?
Credit card spending rewards on the market are generally divided into “cashback“, “air miles rewards“, and “credit card point rewards“.
Credit card point rewards are typically redeemable for cash, flying miles, or gifts.
Some people, on the other hand, enjoy convenience and prefer to receive cash or air miles incentives directly. It is especially crucial to remember that most cashback incentives are transferred directly to the credit card account to offset current month expenditures rather than being paid in cash!
How to choose a cashback credit card?
Consider your spending habits and popular spending areas before applying for a cashback credit card. Using the Citi Cash Back credit card as an example, you can get 2% cashback on foreign currency purchases all year. This card suits you better if you frequently travel overseas and make purchases.
You can now enjoy a limited-time offer by applying for a Citi Cash Back credit card through MoneySmart!
What is the usual cashback rate for credit cards?
The basic cashback rate for cashback credit cards is generally between 0.4% and 1%, i.e., $0.4 to $1 cashback for every HK$100 spent.
When will the welcome cashback for credit cards be credited?
There are different ways for credit cards to credit cashback. Some credit cards will deduct the cashback directly from the next month’s outstanding balance. For example, Standard Chartered Smart Card HK$1,200 cashback welcome offer will be credited within 4 months after card issuance.
In addition, some credit cards calculate cash back in points, which you can accumulate until you have enough points to redeem for cash back or other rewards. However, please note that credit cards have different point validity periods. If you are not careful, your hard-earned points may expire.
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