LF suggestions for credit cards with no annual fees

[fwhchung]

Hi all,

I am moving from Toronto to HK in early August and am looking into what credit cards to get over there. Can anyone suggests some credit cards with no annual fees with at least some kind of rewards like cash back or sign up gifts?

I've read on here that Standard Chartered and DBS credit cards are good? I also looked into many bank credit cards and such but haven't found one yet (or prob. just missed it).

Thanks,

Felix

[PDLM]

Almost all the cards claim to have fees, but they pretty much all waive them automatically for the first year or two, and then without too much problem if you say that otherwise you will cancel the card.

For rewards I tend towards AsiaMiles, and for those the best deals seems to be the DBS Amex (but it has a cap on the number you can earn at the high rate), AmexCathay co-brand card, and the CitiPremierMiles card (which also gives you the option of converting points to NorthWest, Singapore or Thai frequent flyer points).

Many people here have multiple credit cards to take advantage of various special offers (for example many restaurants have discounts of 10-25% off for one or two particular brands of card).

I've never really looked at cashback so can't comment on that.

[jayinhongkong]

HSBC offers cashback and draws for gifts if you desire. I elected for the cashback as I never seem to win anything.

[tx_dfw]

Any one have any updates to this Im tired of my no good citibank card.

[PDLM]

Which Citibank card do you have and what is no good about it? I'm not aware of any problems with the Citi PremierMiles Visa card which I have.

For me the aspects to consider are:

- acceptability (any Master or Visa is fine, Amex less so, Diners, very much less so)

- annual fees (pretty much any card in HK (perhaps except the very top end Amex ones) will waive them on threat of you closing the account)

- foreign exchange rates & fees (in my experience they don't vary enough between HK cards that I have looked at (HSBC, Citi, Amex) for this to be significant with my level of overseas spending)

- other features (e.g. Octopus AAVS, which most now seem to have)

- mileage / cashback / other bonuses (this is where you can shop around for deals - I now try even harder to avoid using my HSBC Premier Mastercard since they have just taken the miles earning to $15=1mile and an annual $300 programme fee for mileage; the CX Amex had a good introductory offer which is now over, but is still not bad at $8=1AM in HK, $4=1AM overseas, without limit, as is the Citi Premier Miles). I value AsiaMiles at US$0.01, so in effect that is a 1% rebate locally and 2% overseas. The CX Amex is free without debate if you are a CX Marco Polo member at Silver or above, and comes with a load of travel & purchase insurance and Priority Pass membership. The Citi Premier doesn't have insurance, and only has lounge access in Hong Kong (but that does include supplementary card holders, whereas the Amex PP is main card only). You can get better mileage/cashback promos with limited maximum amounts if you're prepared to keep looking around applying for cards just for the promos and keeping track of your spending on each one. But that's too much like hard work for me.

Interest rates should be irrelevant since using a credit card as a source of financing is madness.

[beachball]

Which Citibank card do you have and what is no good about it? I'm not aware of any problems with the Citi PremierMiles Visa card which I have.

For me the aspects to consider are:

- acceptability (any Master or Visa is fine, Amex less so, Diners, very much less so)

- annual fees (pretty much any card in HK (perhaps except the very top end Amex ones) will waive them on threat of you closing the account)

- foreign exchange rates & fees (in my experience they don't vary enough between HK cards that I have looked at (HSBC, Citi, Amex) for this to be significant with my level of overseas spending)

- other features (e.g. Octopus AAVS, which most now seem to have)

- mileage / cashback / other bonuses (this is where you can shop around for deals - I now try even harder to avoid using my HSBC Premier Mastercard since they have just taken the miles earning to $15=1mile and an annual $300 programme fee for mileage; the CX Amex had a good introductory offer which is now over, but is still not bad at $8=1AM in HK, $4=1AM overseas, without limit, as is the Citi Premier Miles). I value AsiaMiles at US$0.01, so in effect that is a 1% rebate locally and 2% overseas. The CX Amex is free without debate if you are a CX Marco Polo member at Silver or above, and comes with a load of travel & purchase insurance and Priority Pass membership. The Citi Premier doesn't have insurance, and only has lounge access in Hong Kong (but that does include supplementary card holders, whereas the Amex PP is main card only). You can get better mileage/cashback promos with limited maximum amounts if you're prepared to keep looking around applying for cards just for the promos and keeping track of your spending on each one. But that's too much like hard work for me.

Interest rates should be irrelevant since using a credit card as a source of financing is madness.

Suggest this to made a 'sticky' in the Business and Finance section as the definitive post on c-cards in HKG. Then again, nobody ever seems to RTFF...

[Fudus]

I recently got an Octopus Gold Visa Credit Card, and at least in the promotional material they claim that they have a perpetually annual fee waiver. I've only had it for two months, but they haven't charged me any annual fee yet on my statements.