When traveling to Hong Kong, is it better to use UnionPay or Visa?

The UnionPay route is generally more cost-effective.

Currently, China Merchants Bank’s credit cards have two basic credit card lines, UnionPay lines and international lines (VISA, MASTERCARD, JCB or American Express, etc.). When the card is swiped on UnionPay lines, the payment will be settled directly in RMB; when the card is swiped on international lines, the payment will be settled in US dollars. Since overseas consumption by credit card will be settled in U.S. dollars, if the consumption amount is non-U.S. dollars, there will be an exchange fee between the two currencies, which is 1.5% of the transaction amount. The exchange fee is collected by our bank on behalf of international organizations. If the consumption amount is in US dollars, there will be no foreign exchange settlement fee. (If you use a full-currency credit card, you can spend any foreign currency around the world with 0 currency exchange fees, the foreign exchange purchase function will be automatically activated, and foreign currency consumption can be repaid in RMB.

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