Welcome to the arena, fellow money-savvy Hong Kongers! Today, we’re diving into the exciting world of credit cards and comparing two heavy hitters in the Hong Kong market: the Standard Chartered Smart Card and the Citi Cash Back Card. If you’re looking to save money and maximise your financial benefits, buckle up and let’s explore what these cards have to offer!
Table of contents: Smart Card vs. Citi Cash Back Card
- Overview: Smart Card vs. Citi Cash Back Card
- Cashback: 5% on specific merchants vs. 2% uncapped rebates on dining, local hotels and overseas spending
- Income requirements
- Annual fees
- Interest rates and fees
- Additional perks and offers
Overview: Smart Card vs. Citi Cash Back Card
When it comes to the credit card for daily spending, Smart Card and Citi Cash Back Card are the 2 big names you might hear, but what are the differences between these 2 cards? Here is an overview!
| Features | Standard Chartered Smart Card | Citi Cash Back Card |
| Annual Fee | No annual fee | HK$1,200 (waived for the first year) |
| Cash Back | 5% on specific merchants | Uncapped 2% spending on local dining, hotel and overseas spending, 1% on all other purchases |
| Additional Perks | 3-month interest-free instalment | Purchase Protection Insurance: Purchased items will be protected against damage or loss for up to US$7,600 within 30 days |
| Interest Rate | 35.7% | 34.28% |
| Foreign Transaction Fee | Waived | 1.95% |
Smart Card vs. Citi Cash Back Card: Cashback
Ah, cashback – the superhero of credit card rewards. With the Standard Chartered Smart Card, you can earn some serious cashback on your spending. Just imagine a dazzling 5% cashback at Klook without any registration or minimum spending required. It’s like getting paid to explore the world! Plus, there’s an enticing 5% cashback waiting for you at selected merchants like 759 Store, Circle K Convenience Store, HKTVmall, Watsons, and PARKnSHOP. Cha-ching!
Here is the list of merchants that are eligible for the 5% cash rebate:
| Category | Stores and Platforms |
| Grocery shopping | 759 Store, Circle K Convenience Store, HKTVmall, Japan Home Centre, PARKnSHOP |
| Beauty & Health care | Sa Sa, Watsons |
| Food and beverage | Deliveroo, McDonald’s®, Häagen-Dazs™ |
| Sport & Entertainment | Decathlon, Klook, selected online video and music streaming platforms |
| Digital Lifestyle | China Mobile Hong Kong and s/ash |
But what about the Citi Cash Back Card? Ah, my friends, if you’re looking for a card that gives you 2% cashback rates without considering the merchants, here it is! You no longer have to worry about which card when you go for dining, local hotels or overseas spending because Citi Cash Back Card gives you 2% cashback on whatever you spend on these categories.
MoneySmart Tip: Citi Cash Back Card overseas spending rebates does not include spending in England and European Countries (EEA). Do note that when you travel!
Smart Card vs. Citi Cash Back Card: Income requirements
The Standard Chartered Smart Card doesn’t mess around; it’s looking for folks who rake in at least HK$96,000 per year, which is below average in the market. On the flip side, the Citi Cash Back Card has a higher requirement of an annual income of HK$120,000.
Smart Card vs. Citi Cash Back Card: Annual fees
There’s no annual fee for the Standard Chartered Smart Card and HK$1,800 for the Citi Cash Back Card. But don’t start hyperventilating just yet! The fee is waived for the first year, and with the right spending habits, you may qualify for a fee waiver in the subsequent years too, just by giving the bank a call. So, both cards might not have the annual fees.
Smart Card vs. Citi Cash Back Card: Interest rates and fees
Here’s the information about the APR (the interest rate you need to pay if you don’t pay your bill on time).
For the Standard Chartered Smart Card, it’s like a little black dress – a classic 35.7%. The Citi Cash Back Card, on the other hand, is more like a shiny new pair of kicks, dazzling us with a 34.28% APR. These rates could have you singing the blues if you’re not careful, so remember to pay your bills on time.
Smart Card vs. Citi Cash Back Card: perks and offers
Credit cards often come with hidden gems that make your financial journey all the more delightful.
Standard Chartered Smart Card perks
Let’s start with the Standard Chartered Smart Card, shall we?
“0” foreign exchange fee
Not only is there no foreign exchange fee – perfect for jet-setters and online shoppers alike – but there’s also no cash advance fee.
3-month interest-free instalment
So, the next time you need some quick cash, you won’t have to worry about being charged for it. And here’s a little bonus: the card offers a 3-month interest-free instalment option. It’s like having your own personal financial wizard, helping you manage your bills without breaking a sweat.
Citi Cash Back Card perks
Citi Cash Back Back is not falling behind in terms of perks.
30-day purchase protection
Within 30 days, your purchased items will be protected from damage or loss. With a strong shield that can withstand up to US$7,600, your precious belongings can relax, knowing they are well taken care of.
Citi PayAll rebates
The awesome Citi Cash Back Card got its gems as well. With Citi PayAll, you can earn cash rebates by smartly settling payments like rent, phone bills and water bills with your credit card. And guess what?
Citi credit card exclusive offers
You’ll also get an exclusive 8% discount on selected hotel bookings at Hotels.com and more, making your travel experiences even more awesome!
Welcome offer
Ah, the welcome offer – that enticing perk that makes you feel like a VIP from the moment you get your shiny new card.
The Standard Chartered Smart Card steps up its game with an upgraded welcome offer running from 28 September 2023 until 8 January 2024, you can enjoy HK$1,200 cashback or two passes to Plaza Premium First Hong Kong upon accumulating spending of HK$4,000 within the first month from the date of card issuance! Plus the MoneySmart exclusive offer down below:
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- Cash back on spending at designated stores of HKTVmall
- 5%
- Cash back on local spend
- 5%
- MoneySmart Exclusive Offer
- HK$3,524
【MoneySmart Exclusive: Rewards up to HK$3,524💰】
From now until 30 November 2024, 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$800 Apple Store Gift Card or HK$800 PARKnSHOP supermarket vouchers or HK$800 HKTVmall e-Vouchers.
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【MoneySmart Exclusive Offer: Get 12 Months of Deliveroo Plus Silver Membership and a Cash Voucher for Free】By November 30, 2024, apply for the Standard Chartered Smart 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.
Now, let’s turn our attention to the Citi Cash Back Card. The welcome offer of the card is not falling behind.
First, you can get a welcome offer of Apple AirPods Pro (2nd Generation) or HK$1,200 cash rebate when you successfully apply for the Citi Cash Back Credit Card.
If you successfully apply for a designated Citi credit card via MoneySmart and spend at least HK$2,000 after receiving the card, new customers can enjoy the following exclusive reward!
Isn’t that cool? Don’t miss out!
- Annual Fee
- First Year Annual Fee Waiver
- Rebate on Overseas Spending & Local Dining
- Unlimited 2%
- Rebate on Local Spending
- Unlimited 1%
【🔥Exclusive Rewards Return with a BANG: Up to HK$4,125】
From now until 27 November 2024, 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)!
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【Get 12 Months Deliveroo Plus Silver Membership + Cash Voucher (Valued at $726) FOR FREE】
By December 2, 2024, apply for the a designated Citi credit 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.
The Verdict: Choose your credit card adventure
Now that we’ve explored the features of both the Standard Chartered Smart Card and the Citi Cash Back Card, it’s time for you to choose your own credit card adventure. If you’re enticed by an upgraded welcome offer, no annual fee, and impressive 5% cashback opportunities, then the Standard Chartered Smart Card might be your perfect match.
But if you’re a fan of hassle-free cash back journeys on local dining, hotels and overseas spending with special travelling perks that the Citi Cash Back Card holds, it’s worth exploring further.
Remember, the right credit card for you will depend on your lifestyle and spending habits. So, before making a decision, assess your needs and priorities to find the best fit. Happy shopping!
Frequently asked questions: Smart Card vs. Citi Cash Back Card
Can I apply for the Standard Chartered Smart Card or Citi Cash Back Card online?
Yes, you can apply for the Standard Chartered Smart Card or Citi Cash Back Card online.
Are there any additional fees or charges associated with these credit cards?
The Standard Chartered Smart Card has no annual fee, while the Citi Cash Back Card has an annual fee of HK$1,800 (waived for the first year).
How can I qualify for the welcome offer of the Standard Chartered Smart Card?
To qualify for the welcome offer of the Standard Chartered Smart Card, you need to accumulate spending of HK$4,000 within the first month from the date of card issuance.
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