EarnMORE UnionPay Diamond Card: Highest Flat Cashback

EarnMORE UnionPay Diamond Card: Highest Flat Cashback

Highest Flat-Rate Rebate

Good for

  • Everyday spenders with a moderate budget
  • Travellers looking for convenient perks
  • Those seeking an uncomplicated rebate

Bad for

  • Consumers looking for a no-fee card
  • High spenders seeking uncapped cashback
  • People seeking specialised rates

Editor's Rating

4.5/5.0

EarnMORE UnionPay Diamond Card is ideal for consumers with modest budgets seeking the highest flat cashback rate available. Cardholders earn an impressive 2% rebate online, locally and overseas, which covers nearly all transactions. While rewards are capped at HK$2k/yr, this just makes it easier for average consumers to max out rewards with only HK$8,333/month spend. Unlike similar cashback cards, EarnMORE also comes with a variety of travel perks, like waived foreign transaction fees, discounted limo transfers and up to 3 free lounge visits per year. Overall, EarnMore UnionPay Diamond Card is a great choice for consumers with low-to-moderate budgets who want an easy-to-use cashback card that will maximise rewards on all of their purchases.

ProsCons
  • 2% cashback locally, online & overseas
  • Waived foreign currency transaction fees
  • 3 free lounge visits/yr & flat limo transfers
  • Rewards cap of HK$2k/yr
  • No boosted rate for select categories
  • No fee waiver available
Promotions:
  • Receive HK$500 cashback w/ HK$8.5k min. spend in 1st 3mo, OR:
  • Receive Panasonic Air Freshener w/ HK$8.5k spend in 1st 3mo, OR:
  • Receive OTO Neck Loose Massager w/ HK$8.5k spend in 1st 3mo
  • Up to HK$90k interest & fee-free instalment plan
Card Overview
Pros:
  • 2% cashback locally, online & overseas
  • Waived foreign currency transaction fees
  • 3 free lounge visits/yr & flat limo transfers
  • Promotions: Receive HK$500 cashback w/ HK$8.5k min. spend in 1st 3mo, OR:
  • Receive Panasonic Air Freshener w/ HK$8.5k spend in 1st 3mo, OR:
  • Receive OTO Neck Loose Massager w/ HK$8.5k spend in 1st 3mo
  • Up to HK$90k interest & fee-free instalment plan
Cons:
  • Rewards cap of HK$2k/yr
  • No boosted rate for select categories
  • No fee waiver available

What Makes EarnMORE UnionPay Diamond Card Stand Out

EarnMORE UnionPay Diamond Card stands out from other cashback cards as it provides consumers with the highest flat rebate available. In fact, cardholders earn 2% cashback on every local, overseas, and online transaction, including Octopus AAVS reloads. Comparable flat cashback cards, like BlueCash Card from Amex or ICBC Horoscope UnionPay DC Diamond Card, offer at most 1.5% cashback on general spend.

Consumers can also enjoy convenient travel perks, like waived foreign currency transaction fees, limo services, and up to 3 lounge visits/year. While some competitor cards offer similar travel benefits, none do so while offering as high of a general spend rebate.

Travel PerkDetailsRequirement
Waived foreign exchange feesNo additional fee for spend in non-HKD currencyNone
Limo transfersTransfers to/from airports in Beijing, HK, Shenzhen & Shanghai for discounted set rate (HK$250)HK$3k spend within 2 transactions before each transfer
Free lounge access3 Free LoungeKey visits/yr lounges available in China, HK, Macau & TaiwanHK$12k+ spend across 2 months prior to the visit

EarnMORE UnionPay Diamond isn't the ideal match for every consumer, however. The card's 2% rebate is capped at just HK$2k per year, which is reached with HK$100k annual spend. On average, consumers would only need to spend about HK$8,333 per month in order to hit this annual cap. High spenders looking to reach their full cashback potential would likely be better off with an unlimited card, like Standard Chartered Simply Cash Visa Card or Citi Cash Back Card.

Nonetheless, average consumers who might be in danger of hitting the cap can potentially pair EarnMORE UnionPay Diamond with a no-fee card offering a boosted rate in select categories. For example, cardholders might use EarnMORE alongside Hang Seng MPOWER Card or HSBC Red Card to earn boosted rates on dining, mobile pay or online shopping. By using another card for purchases in a high-spend category, consumers can worry less about hitting EarnMORE's annual rewards cap while still taking advantage of the card's high flat rate for general spend.

Pairing Cards to Maximise Value

EarnMOREHang Seng MPOWERTotal
CategoryGeneral RetailDining (via Mobile Pay)
Rate2% Rebate5% Rebate
SpendHK$9,000HK$3,000HK$12,000
EarnHK$180HK$150HK$330

Overall, although cashback is capped, consumers still earn the highest flat rebate rate on nearly every purchase with EarnMORE UnionPay Card, without worrying about tracking categories or merchants.

How Does EarnMORE UnionPay Diamond Card's Rewards Program Work?

Use our quick guide below to learn how you can redeem your credit card rewards.

  • Cashback is settled monthly and shown on the account holder's monthly statement
  • While there is a HK$2k annual rebate limit, there is no monthly cashback cap
  • Cashback cannot be transferred, returned or exchanged for any reason
  • Upon account cancellation, all unreceived and original cashback will be forfeited without notice

EarnMORE UnionPay Diamond Card's Features and Benefits:

Card Overview
  • Annual Fee: HKD 800, 2-Year Waiver
  • Income Requirement: HKD 150,000
Rewards Rate Details
  • 2% cashback on local, overseas & online purchases
  • HK$2k annual cap, reached at HK$100k annual spend
Benefits & Perks
  • Foreign currency transaction fees waived
  • 3 free lounge visits/year w/ HK$12k+ spend in 2 consecutive mo
  • Discounted limousine service (HK$250/ride, HK & China)
  • UnionPay Year-Round Offers
Promotions:
  • Receive HK$500 cashback w/ HK$8.5k min. spend in 1st 3mo, OR:
  • Receive Panasonic Air Freshener w/ HK$8.5k spend in 1st 3mo, OR:
  • Receive OTO Neck Loose Massager w/ HK$8.5k spend in 1st 3mo
  • Up to HK$90k interest & fee-free instalment plan

EarnMORE UnionPay Diamond Card's Rewards Exclusions

The following credit card expenditures are ineligible for rewards.

Cash advances; credit card fees (including annual fees, interest fees, financial fees, overdue fees, and excess credits); cash advance fees and other fees; any money or electronic money transfers (including but not limited to personal-to-person payment services or mobile devices, apps & electronic transfer platforms); recharge e-wallets; discounted cash amount; cash installment; installment amount
Casino transaction amounts
Unaccounted, cancelled, returned, or falsified transaction amount and all unauthorized transaction amounts

How does EarnMORE UnionPay Diamond Card Compare Against Other Cards?

Read our comparisons of EarnMORE UnionPay Diamond Card with other cards and learn what makes each card unique in their own way. We compare and contrast each card to highlight its uniqueness to help you identify the card that you need.

Graph showing some of Hong Kong's best credit cards in terms of value-to-consumer after two years, based on an average monthly spend of HK$12,000
EarnMORE UnionPay Diamond Card v. ICBC Horoscope UnionPay Dual Currency Diamond Card
  • Annual Fee: HKD 1,000
  • Stand-Out: Unltd. 1.5% flat rebate + lounge & limo perks
  • Read Our Full Review
ICBC Horoscope UnionPay Dual Currency Diamond Card is ideal for high-income, high spending consumers looking to maximise their cashback rewards while still enjoying convenient travel perks. Cardholders earn a flat, uncapped 1.5% rebate on all their spend. Additionally, frequent regional travellers can enjoy convenient perks like separate billing for their HKD and RMB spend, waived foreign currency transaction fees, discounted limo transfers and up to 3 free lounge visits per year. ICBC Horoscope UP DC Diamond Card does have a minimum income requirement of HK$250k, however, which limits its accessibility.


EarnMORE offers similar perks and a higher rebate rate, but rebates are capped at just HK$2k per year. As this total can be maxed out with about HK$8k monthly spend, EarnMORE may not be the best fit for those with larger budgets. ICBC Horoscope UnionPay Dual Currency Diamond Card might therefore be a better match for wealthier travellers, while EarnMORE UnionPay may be a better option for those with more modest budgets.

EarnMORE UnionPay Diamond Card v. Standard Chartered Simply Cash Visa Card
  • Annual Fee: HKD 2,000 (waiver available)
  • Stand-Out: Unltd. 1.5% rebate w/ boost for overseas
  • Read Our Full Review
High spenders seeking straightforward, uncapped rebates should definitely consider Standard Chartered Simply Cash Visa Card. Cardholders earn an unlimited 1.5% cash back locally, boosted to 2% overseas. While SC simply Cash has a HK$2k annual fee, it's waived for SC Bonus Payroll, Priority or Premium Banking accounts. Although EarnMORE does have a higher local rebate rate of 2%, cashback is capped at HK$2k per year. Additionally, EarnMORE's HK$800 fee has no waiver opportunities. Overall, Standard Chartered Simply Cash Visa Card may be a better option for high spenders, especially those who already banking with SC.
EarnMORE UnionPay Diamond Card v. Citi Cash Back Card
  • Annual Fee: HKD 1,800
  • Stand-Out: Unltd. cashback with boost for dining, hotels & overseas
  • Read Our Full Review
Affluent travelers who frequently dine out should definitely consider Citi Cash Back Card. Cardholders earn an unlimited 1% cashback on all local purchases, elevated to 2% for dining, hotel and overseas spend. These uncapped rewards come at a cost, however, as Citi Cash Back Card has an unwaivable annual fee of HK$1.8k.


By comparison, EarnMORE UnionPay Diamond Card earns 2% cashback on all spend, regardless of category, although this rebate is capped at HK$2k a year. While EarnMORE's HK$800 fee is also unwaivable, it's less than half of what Citi Cash Back Card requires. Altogether, Citi Cash Back Card is ideal for affluent consumers seeking to avoid rebate limits, while EarnMORE UnionPay Diamond Card remains a better option for those with more modest budgets.

EarnMORE UnionPay Diamond Card v. HSBC Red Credit Card
HSBC Red Credit Card is ideal for frequent online shoppers who spend most of their time in Hong Kong. Cardholders earn an uncapped 1% cashback on all general spend, 2% at local supermarkets and 4% online. Since HSBC Red Card has no annual fee, consumers enjoy these impressive rates for free. By comparison, EarnMORE UP Diamond Card offers 2% cashback on every purchase, but rebates are capped at HK$2k. Overall, HSBC Red Card is great for online shoppers seeking convenient everyday rebates but don't want to worry about cashback limits.
EarnMORE UP Diamond v. ICBC Horoscope UP DC Diamond
  • Annual Fee: HKD 1,000
  • Stand-Out: Unltd. 1.5% flat rebate + lounge & limo perks
ICBC Horoscope UnionPay Dual Currency Diamond Card is ideal for high-income, high spending consumers looking to maximise their cashback rewards while still enjoying convenient travel perks. Cardholders earn a flat, uncapped 1.5% rebate on all their spend. Additionally, frequent regional travellers can enjoy convenient perks like separate billing for their HKD and RMB spend, waived foreign currency transaction fees, discounted limo transfers and up to 3 free lounge visits per year. ICBC Horoscope UP DC Diamond Card does have a minimum income requirement of HK$250k, however, which limits its accessibility.


EarnMORE offers similar perks and a higher rebate rate, but rebates are capped at just HK$2k per year. As this total can be maxed out with about HK$8k monthly spend, EarnMORE may not be the best fit for those with larger budgets. ICBC Horoscope UnionPay Dual Currency Diamond Card might therefore be a better match for wealthier travellers, while EarnMORE UnionPay may be a better option for those with more modest budgets.

EarnMORE UP Diamond v. SC Simply Cash
  • Annual Fee: HKD 2,000 (waiver available)
  • Stand-Out: Unltd. 1.5% rebate w/ boost for overseas
High spenders seeking straightforward, uncapped rebates should definitely consider Standard Chartered Simply Cash Visa Card. Cardholders earn an unlimited 1.5% cash back locally, boosted to 2% overseas. While SC simply Cash has a HK$2k annual fee, it's waived for SC Bonus Payroll, Priority or Premium Banking accounts. Although EarnMORE does have a higher local rebate rate of 2%, cashback is capped at HK$2k per year. Additionally, EarnMORE's HK$800 annual fee has no waiver opportunities. Overall, Standard Chartered Simply Cash Visa Card may be a better option for high spenders, especially those who already banking with SC.
EarnMORE UP Diamond v. Citi Cash Back
  • Annual Fee: HKD 1,800
  • Stand-Out: Unltd. cashback with boost for dining, hotels & overseas
Affluent travelers who frequently dine out should definitely consider Citi Cash Back Card. Cardholders earn an unlimited 1% cashback on all local purchases, elevated to 2% for dining, hotel and overseas spend. These uncapped rewards come at a cost, however, as Citi Cash Back Card has an unwaivable annual fee of HK$1.8k.


By comparison, EarnMORE UnionPay Diamond Card earns 2% cashback on all spend, regardless of category, although this rebate is capped at HK$2k a year. While EarnMORE's HK$800 fee is also unwaivable, it's less than half of what Citi Cash Back Card requires. Altogether, Citi Cash Back Card is ideal for affluent consumers seeking to avoid rebate limits, while EarnMORE UnionPay Diamond Card remains a better option for those with more modest budgets.

EarnMORE UP Diamond v. HSBC Red Card
  • Annual Fee: Free
  • Stand-Out: Unltd. 4% cashback online, 2% on groceries
HSBC Red Credit Card is ideal for frequent online shoppers who spend most of their time in Hong Kong. Cardholders earn an uncapped 1% cashback on all general spend, 2% at local supermarkets and 4% online. Since HSBC Red Card has no annual fee, consumers enjoy these impressive rates for free. By comparison, EarnMORE UP Diamond Card offers 2% cashback on every purchase, but rebates are capped at HK$2k. Overall, HSBC Red Card is great for online shoppers seeking convenient everyday rebates but don't want to worry about cashback limits.
Jacob Weiss

Jacob is a Junior Research Analyst at ValueChampion, focusing on credit cards and other consumer financial products. Previously, he covered hedge funds and long only products for Cambridge Associates. He holds a B.S. in Finance from the University of Maryland and has passed Level 1 of the CFA exam.