Travel Credit Card, is for those Hong Kongers who absolutely love, (or I could say a bit addicted to traveling.) There are over 2 million Hong Kongers went to Japan for vacation or work in 2023. If you are one of them and planning for your next trip. Always remember get your travel credit card with most cash back rewards, miles rate, and no foreign exchange conversion fees! Also, pay attention to whether travel credit cards include travel insurance. (Coz some may provide it for free!) Of course, do not miss comparing the welcoming offers!
So, let’s check out the following blog to find out which is the best travel credit card for you now!
Best Travel Credit Card Selection: Overseas Spending Rebate, Travel Insurance, Welcome Offers
- DBS Black World Mastercard
- Standard Chartered Smart Card
- Standard Chartered Cathay Mastercard
- HSBC Visa Signature Card
- AEON CARD WAKUWAKU
- Prime Credit UnionPay EarnMORE Card
- WeWa Credit Card
- Travel Credit Card Tips
Travel Credit Card Comparison
Here are the 6 essential travel credit cards recommended by MoneySmart:
| Credit Card | Rewards |
| DBS Black World Mastercard | HK$4/mile for foreign currency transactions |
| Standard Chartered Smart Card | No transaction fee for overseas spending, 0% interest for 3 months |
| Standard Chartered Cathay Mastercard | HK$4/mile for foreign currency transactions |
| HSBC Visa Signature Card | HK$2.78/mile or 3.4% cashback for foreign currency transactions |
| AEON Wakuwaku Credit Card | 3% cashback for transactions in Japan |
| EarnMORE UnionPay Card | 2% cashback for overseas transactions |
DBS Black World Mastercard: DBS$ for Flight and Hotel Redemption
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- Welcome Offer
- Up to 42,000 miles
- Upon meeting local and overseas spending goal*
- HK$3/mile
- Miles Conversion (overseas spend)
- HK$4/mile
【Quick! Apply Today for Exclusive HomePod mini!】From now until 30 April 2024, customers who successfully apply for DBS Blackworld Mastercard via MoneySmart, can enjoy a HomePod mini (retail price: HK$749) or HK$500 Apple Store Gift Card/ Klook Voucher/ PARKnSHOP Supermarket Voucher! You can also earn the bank welcome offer of up to 42,000 miles at the same time!
DBS Bank’s DBS Black Credit Card offers HK$4/mile for overseas spending throughout the year. The credit card also It allows you to redeem DBS$ for Asia Miles, Avios, KrisFlyer, or Phoenix Miles.
The best part DBS Black World Mastercard is that the DBS$ have no expiry date, and there is no service charge for mile redemption. (That means you can gather DBS+ as long as your want and no pressure on redemption!) Moreover, it offers special discount benefits for booking hotels on Expedia, Agoda, and Hotels.com, making it suitable for travel planning.
DBS Black World Mastercard Features
- Local spending of HK$250=DBS$2 (HK$6/mile)
- Overseas spending of HK$250=DBS$3 (HK$4/mile)
- Minimum annual income: HK$240,000
- No service fee for miles redemption
- Overseas spending service fee 1.95%
- More detailed information
Standard Chartered Smart Card: No Transaction Fee for Overseas Spending
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- Cash back on spending at designated stores of HKTVmall
- 5%
- Cash back on local spend
- 5%
- MoneySmart Exclusive Offer
- HK$2,599
【Free AirPods 3 !】From now until 30 April 2024, New Cardholders who successfully apply for Standard Chartered Smart Card now via MoneySmart to get AirPods (3rd generation) with Lightning Charging Case (value: HK$1,399) or $1,200 ParkNshop vouchers or $1,200 Apple store gift card!
Standard Chartered Smart Card is one of the few credit cards that does not charge a foreign transaction fee, saving you 1.95% on overseas spending compared to regular Visa cards. Additionally, any retail transaction of HK$500 or above on your credit card can be repaid in 3 interest-free instalments, with unlimited usage, making it more flexible paying for traveling or shopping in Europe and Japan.
Standard Chartered Smart Card Features
- 5% cashback on designated local spending
- Minimum annual income: HK$96,000
- Unlimited 3-month 0% instalments
- No foreign transaction fee
- No cash advance service fee
- More detailed information
Standard Chartered Cathay Mastercard: Free Mileage Conversion
- Miles Conversion(Eligible spending on Cathay and HK Express)
- HK$2=1 mile
- Miles Conversion (Eligible spending on dining, online and overseas category)
- HK$4 = 1 mile
- Bank Welcome Offer
- 60,000 miles
【Free BRUNO Oval Hot Plate!】From now until 30 April 2024, new Cardholders who successfully apply for for Standard Chartered Cathy Mastercard now via MoneySmart to get BRUNO BOE053-BGY Oval hot plate (Value: $1,598) or $900 ParkNshop vouchers / $900 Apple store gift card / AirSim sim card with $900 value!
The Standard Chartered Cathay Mastercard features an Asia Miles rewards program. Dining, online, and overseas transactions earn 1 mile per HK$4 spent. Cathay and HK Express-related purchases, including plane tickets and shopping, earn 1 mile per HK$3 spent. Other transactions, including the Octopus service, earn 1 mile per HK$6 spent. The card converts points to miles monthly at no extra cost.
Standard Chartered Cathay Mastercard Features
- Basic transactions are HK$6/mile
- Minimum annual income: HK$96,000
- Automatic mileage conversion every month
- Free mileage conversion
- Selected items receive a 10% discount for Asia Miles conversion
- Overseas transaction fee is 1.95%
- More detailed information
HSBC Visa Signature Card: Foreign Currency Spending HK$2.78/mile
If you allocate the 5x multiplier of the “Red Hot Rewards of Your Choice” to “Overseas and Mainland China Spending”, along with the additional 3x “RewardCash” offered by the HSBC Visa Signature Card, foreign currency transactions can yield up to 9x rewards, getting a 3.6% “RewardCash” cashback or HK$2.78/mile.
HSBC Visa Signature Card Features
- Basic transactions earn HK$250 = $1 “RewardCash” = HK$1 cashback (0.4%) / 10 miles (HK$25/mile)
- Minimum annual income: HK$360,000
- “Red Hot Rewards of Your Choice” offers an additional 3x “RewardCash” on 6 categories of transactions
- Mileage conversion is free via the HSBC Reward+ App
- Foreign transaction fee is 1.95%
- More detailed information
- Min. Annual Salary
- HK$240,000
- RewardCash Rebate
- Up to 3.6%
- Miles Conversion (local spend)
- HK$2.78 = 1 Mile
AEON CARD WAKUWAKU: 3% Cashback on Spending in Japan
With the AEON CARD WAKUWAKU, you can enjoy up to 3% cashback on purchases in Japan, with a maximum monthly cashback of $300. In addition, you can enjoy up to 6% cashback on online purchases.
AEON CARD WAKUWAKU Features
- No income requirement
- During the cardholder’s birthday month, an additional 4% cashback can be gained on overseas transactions, with a maximum cashback of HK$200
- On AEON Thank You Day, you can enjoy an additional 5% discount
- Permanently waived annual fee
- More detailed information
- 最低年薪入息
- HK$0
- 網上消費現金回贈
- 6%
- 本地餐飲現金回贈
- 1%
【限時優惠】即日起至2024年4月30日，經MoneySmart成功申請AEON CARD WAKUWAKU，MoneySmart獨家賞額外3,000 SmartPoints 隨意兌換HK$300禮券 (超過20+品牌任你揀，包括：Apple、惠康、 HKTVmall等等)，仲可以轉換成HK$200現金，直接cash out亦得💰 按此瀏覽更多熱門禮品 (優惠受條款及細則約束)！
全新AEON信用卡客戶經「AEON 香港」手機App申請AEON CARD WAKUWAKU並輸入迎新碼「MSWAKU」，成功申請及批核信用卡後，可享 HK$200 現金回贈(由AEON送出) 及16%現金回贈 + HK$400現金回贈迎新優惠！網上簽賬可享 6%現金回贈，於日本消費更享有3%現金回贈，更豁免任何外幣交易之費用(信用卡組織所收費用除外)！
Prime Credit UnionPay EarnMORE Card
- Min. Annual Salary
- HK$0
- Cash back on overseas spend
- 2%
- Cash back on local spend
- 2%
【MoneySmart Exclusive Offer】Want to get extra $300 vouchers from MoneySmart? From now until 30 April 2024, new customers who successfully applied for EarnMORE UnionPay Diamond Card via MoneySmart, can enjoy 3,000 SmartPoints without further spending! Use your SmartPoints to redeem vouchers of your choice worth HK$300 in the Rewards Store(over 20+ brand vouchers including Apple / Wellcome/ HKTVmall etc)!. Click here for more details. T&C applied. (fulfilled by MoneySmart)
[PrimeCredit x MoneySmart] From now until June 30, apply EarnMORE UnionPay Diamond Card through MoneySmart and earn extra HK$200 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)
The biggest advantage of the Prime Credit UnionPay EarnMORE Card is that it doesn’t require any fees for overseas transactions. During the special promotion period, overseas transactions can also get an additional 2% cash rebate, which is suitable for people who often travel or go abroad for business.
Prime Credit UnionPay EarnMORE Card Features
- Local/Overseas transactions: 2% cash rebate
- Tertiary students can apply without income proof
- Supports Apple Pay
- No fee for overseas transactions
- More detailed information
Prime Credit WeWa UnionPay Diamond Card
- Min. Annual Salary
- HK$0
- Cash back on online shopping
- 6%
- Cash back on Japanese spending
- 3%
【Limited Time Offer】From now until 30 April 2024, apply for the AEON CARD WAKUWAKU through MoneySmart, you can exclusively enjoy extra 3,000 SmartPoints and free to redeem HK$300 vouchers (over 20+ brand vouchers including Apple / Wellcome/ HKTVmall etc). Alternatively, you can convert them into HK$200 cash and cash out directly! Click here to explore limitless possibilities (T&C applied)!
New AEON Customers successfully applied AEON CARD WAKUWAKU through “AEON HK” Mobile App and input the welcome offer code “MSWAKU” to enjoy an extra HK$200 cash rebate (Offer by AEON) and up to 16% cash rebate + HK$400 cash rebate! Enjoy a 6% cash rebate on online spending! Earn 3% cash rebate on purchases in Japan and enjoy waived transaction fees on foreign currency transactions (except charges imposed by Cards Associations)!
The biggest advantage, among the many, associated with this card probably goes to the handling fee waiver for online transactions. For example, you could enjoy 4% cash back for transactions in the 4 designated spending categories (travel, cinema, karoake and theme park). It also gives a favorable rate of 0.4% rebates with overseas purchases.
Benefits:
- HK$250=HK$1 (0.4%) rebates for overseas purchase
- No minimum annual income required for university students
- No handling fee for overseas spending
Travel Credit Card Tips
Which credit card can achieve the most benefits? Check out the guide to get the most of it!
Global Acceptance
UnionPay credit cards are mainly popular in East Asia, while Visa/Mastercard credit cards are widely accepted globally, except in mainland China. If you’re looking for a travel credit card that you can use without any obstacles, Visa/Mastercard is the obvious winner.
Transaction Fees
When it comes to credit card exchange rates, credit cards generally offer more favorable rates than currency exchange shops, making them a more affordable option. In Hong Kong, most Visa/Mastercard credit cards charge a 1.95% transaction fee for each foreign currency transaction, while American Express charges a 2% fee.
It’s worth noting that some UnionPay credit cards completely waive transaction fees. However, UnionPay’s exchange rates are generally more expensive than Visa/Mastercard’s, with a difference of about 1.2% to 1.4%.
Dynamic Currency Conversion (DCC)
When it comes to shopping abroad, you must know the concept of Dynamic Currency Conversion (DCC)! Simply put, when you use a Visa/Mastercard at a foreign merchant, you can choose to settle the transaction in foreign currency or HKD. If you choose to settle in HKD (DCC), there will be an additional fee of at least 4%!
Therefore, it’s important to settle in foreign currency when using a credit card for shopping abroad. To avoid the high fees of DCC, clearly state that you want to settle in local currency when making payments abroad, whether in person or online, to avoid DCC issues. Also, when making online transactions (such as booking flights or hotels), choosing to pay in HKD on foreign merchant websites may still encounter DCC. Although the fee is not as high as 4%, you still have to pay a transaction fee of 0.8% to 1%, therefore losing the cashback or rewards of the travel credit step!
Travel Insurance
Also, remember to check whether the credit card includes travel insurance. If not, remember to buy protection for yourself and your travel companion.
Summary
Here are some strategies and tips for travel credit cards:
- Understand the features and offers of each credit card to determine which card is most suitable for your travel needs.
- Compare the points or mileage exchange rates of different credit cards to get the best value.
- Pay attention to the use restrictions and terms of each credit card, such as minimum spending amounts, validity periods, etc.
- Choose the most suitable credit card based on your travel plans, for example, if you frequently travel to Japan, a card that offers cashback for transactions in Japan (like the Aeon Wakuwaku: 3% cashback for transactions in Japan) might be more suitable.
- Keep an eye on the latest offers and promotions of credit cards to ensure you can make the most of the benefits of your credit card.
Frequently Asked Questions: Best Travel Credit Card Selection
What is the advantage of the DBS Black World Mastercard?
The DBS Black World Mastercard offers HK$4/mile for overseas spending throughout the year. It allows for the redemption of various frequent flyer miles and the points have no expiry date. There is also no service charge for mile redemption.
What is unique about the Standard Chartered Smart Card?
The Standard Chartered Smart Card does not charge a foreign transaction fee, which can save you 1.95% on overseas spending compared to regular Visa cards. Any retail transaction of HK$500 or above on your credit card can be repaid in 3 interest-free instalments.
What are some key features of the Standard Chartered Cathay Mastercard?
The Standard Chartered Cathay Mastercard features an Asia Miles rewards program with different earning rates for different types of purchases. The points to miles conversion happens monthly at no extra cost.
What benefits does the HSBC Visa Signature Card provide?
The HSBC Visa Signature Card can yield up to 9x rewards on foreign currency transactions, resulting in 3.6% “RewardCash” cashback or HK$2.78/mile.
What is Dynamic Currency Conversion (DCC) and how does it affect my overseas transactions?
DCC allows you to choose to settle the transaction in foreign currency or HKD when using a Visa/Mastercard at a foreign merchant. If you choose to settle in HKD (DCC), there will be an additional fee of at least 4%. Therefore, it’s important to settle in foreign currency when using a credit card for shopping abroad.
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