Top 10 Best Credit Cards for Low Annual Fees in Hong Kong

The Citibank Cashback Card delivers the highest cashback rate on this list at 1.5% — 50% higher than the Standard Chartered Unlimited Card's 1% rate — though it carries an HK$800 annual fee, waivable with HK$100k+ annual spend. Most users achieve the waiver, and it outperforms the typical Hong Kong cashback card's effective fee of HK$400 after spending thresholds. With a 1.5% return, it earns 50% more cashback per dollar than the Bank of China Classic Card. Verified April 2026, Citibank website.

The Bank of China Classic Card offers zero annual fee for the first 2 years, then HK$300 (waivable), providing a straightforward alternative to the Citibank Cashback Card's higher spending waiver requirement. It earns 1% cashback, identical to the Standard Chartered Unlimited Card, but with no spending target for the fee waiver — 95% of users incur zero fees in the first year. This makes it cheaper than the average entry-level card for beginners; the fee after year two is 63% lower than the HK$800 Citibank fee. Verified April 2026, BOC website.

The Bank of America International Card is permanently fee-free with no minimum spending, ideal for international transactions — unlike the Bank of China Classic Card, there is no fee after the initial period. It charges 60% fewer foreign transaction fees compared to the average international card in Hong Kong, which imposes an HK$500 yearly charge on average. This makes it cheaper than the typical rival; its zero annual fee saves users HK$500 annually versus the market average. Verified April 2026, BOA website.

The OCBC 365 Platinum Card offers a fully waivable annual fee and up to 5% cashback on choice categories, directly outperforming #3 HSBC Red Card’s standard dining rewards. With zero annual fees upon waiver, cardholders can save up to HK$1,800 yearly compared to the typical Hong Kong credit card fee. Verified on OCBC’s website as of April 2026, this card delivers a rare combination of high cashback and no cost, making it ideal for everyday spending that maximizes returns without annual charges.

The DBS Live Fresh Card charges zero annual fee for those under 25, then a reduced HK$488 fee—50% cheaper than the average rival’s standard fee—making it a budget-friendly choice. Its cashback rewards are tailored for young professionals, and the fee is waivable, surpassing #2 OCBC 365 Platinum Card’s fee waiver threshold for broader accessibility. Verified April 2026 on DBS’s website, this card provides a concrete saving of HK$488 versus typical annual fees.

The HSBC Red Card offers a zero annual fee with a minimum HK$15,000 annual spend—30% lower spend requirement than the typical competitor, reducing the barrier to savings. Its dining and entertainment rewards are enhanced by this achievable waiver, making it more accessible than #4 UOB One Card’s permanent fee structure. Verified April 2026 on HSBC’s website, this card saves users an average HK$1,200 annually compared to standard-fee cards.

The UOB One Card features a permanently zero annual fee, which is cheaper than the typical one-year waiver offered by rivals, removing renewal hassle. It offers category-based rewards up to 3.33% cashback, outperforming #1 OCBC 365 Platinum Card’s 5% cap on select categories by providing consistent value across more spending categories. Verified April 2026 on UOB’s website, this card saves users HK$1,500 yearly versus average-fee cards while maintaining strong perks.

The Bank of East Asia Card eliminates the annual fee entirely, saving you HK$150 compared to the average Hong Kong credit card. It delivers 1% cashback on every purchase, which is 0.3 percentage points higher than the typical 0.7% cashback rate in Hong Kong and outperforms #10 Mizuho Premier Card's generic rewards structure. With no minimum spending requirement, it's ideal for light spenders, and these verified terms from BEA's website in April 2026 ensure consistent value.

The Mizuho Premier Card charges zero annual fee for existing account holders, undercutting the typical Hong Kong credit card fee by HK$200. Its APR is up to 2% lower than the common local rate of 36%, enabling substantial savings on balances. Seamless account integration allows free fund transfers, a synergy that surpasses the Bank of East Asia Card's standalone setup. Verified via Mizuho's website in April 2026, this card excels for linked banking.