Mox Credit Review: Rebates, Fees, the Mox Account and Welcome Rewards under the New Mox+ Rules

Mox Bank is majority-owned by Standard Chartered Bank (Hong Kong), and its partners include PCCW, HKT and Ctrip Finance. The bank was granted its licence in March 2019 and launched in September 2020; it is a licensed bank registered with the Hong Kong Monetary Authority.

Mox is a member of the Deposit Protection Scheme. The main account, Goals and time deposits with a term of five years or less are all protected, up to HK$800,000 per depositor.

Mox issues only one card. Once Mox Credit is approved, the existing Mox debit card becomes a credit card without a new card being issued, and you can switch between debit and credit spending in the app. Spending in debit mode earns an uncapped 0.5% rebate.

The credit card is tied to the Mox account: if you close the account, you cannot keep the credit limit. The card carries no printed card number; the card details are shown only in the app.

From 1 September 2026, the rebate rate depends on whether you are a Mox+ customer. Mox+ requires an average daily balance of HK$600,000 (deposits and investments combined), calculated monthly. Mox+ customers earn a 2% rebate or 1 Asia Mile per HK$5 on general spending; other customers earn 1% or 1 mile per HK$10. The previous arrangement of earning 2% by crediting your salary to the account ended on 31 August.

Spending at merchants that Mastercard classifies as supermarkets earns an uncapped 3% rebate whether or not you are a Mox+ customer, but payments made through WeChat Pay and Alipay do not count. Gambling, cash withdrawals, top-ups of stored value facilities such as Octopus, crypto-assets, transfers, designated bill payments, insurance premiums and tax payments do not earn rebates, and refunds reverse the corresponding rebate. Each switch between rebate mode and miles mode costs HK$50.

On local spending of HK$10,000 a month, the difference between 2% and 1% comes to HK$1,200 a year. Maintaining a HK$600,000 balance for this purpose is equivalent to earning about 0.2% more a year on those funds, so before deciding you should compare the return the same money could earn elsewhere.

Counting only the base rebate at non-designated merchants, the 2% with Mox+ is higher than the 0.56% to 1.2% of the Standard Chartered Smart Card (depending on monthly spending, with no base rebate on monthly spending below HK$4,000), and higher than the 1.5% StockBack that ZA Card pays in shares; the 1% without Mox+ sits between them.

Each card also has its own designated-merchant rebates. The Standard Chartered Smart Card, for example, offers 5% at designated merchants (capped at HK$5,000 of designated spending per cycle) and charges no foreign currency fee. For readers who spend frequently at a small number of designated merchants or who travel often, the conclusion may differ.

Mox Credit charges a 1.95% fee on foreign currency spending and on transactions with overseas merchants. In rebate mode, a 1% or 2% rebate is not enough to offset this charge.

Customers who choose Asia Miles mode have the fee waived on foreign currency spending from 1 January to 31 December 2026, provided the transactions are posted before 14 January 2027. Frequent travellers should switch to miles mode first, or use a card that charges no foreign currency fee.

The annual interest rate for purchases is 33.10%, with an effective annual rate of 35.99%; cash advances carry an effective annual rate of 35.93%, plus a fee of 3.5% or HK$100, whichever is higher. Paying in full gives an interest-free period of up to 56 days. The minimum payment is the sum of interest and fees, 1% of the principal and any overdue amount, or HK$220, whichever is higher; the late payment charge is HK$350 or the minimum payment, whichever is lower.

There is no annual fee and no over-limit fee. For FPS transfers made with the credit limit, a charge of up to 3.5% applies to the portion above the monthly allowance; turning on the automatic spending-switch feature costs HK$25 a month. Borrow or not? Only borrow if you can repay!

The base savings rate on Hong Kong dollar and US dollar balances is 0.001% p.a. From 1 May to 31 December 2026 there is also a "Mission Bonus Rate": for October, crediting your salary adds 1.5%, investing 1%, currency exchange 0.4% and deposits 0.1%, up to 3% in total, applicable to balances of up to HK$1,000,000 (HK$5,000,000 for Mox+) and recalculated every month.

Time deposits start from HK$1, with interest paid upfront; withdrawing early deducts the interest already paid from the principal. Up to five Goals can be set up (Hong Kong dollars only). Withdrawals at local JETCO ATMs are free, Mastercard ATMs cost HK$20 per withdrawal and overseas ATMs HK$30; currency exchange carries a charge of up to 2%; outward US dollar remittances through the Real Time Gross Settlement system cost US$20 each; and a replacement card costs HK$100. The account has no maintenance fee and offers Money Safe and free FPS receipts. Mox+ customers also receive three free overseas withdrawals a month and a metal card.

Referral Programme 25 runs from 14 September to 20 December 2026 and is open only to customers who have never held a Mox account; places are limited and allocated on a first-come, first-served basis. Enter the invite code E6BZQ2 when you sign up in the Mox app (it cannot be added after opening), and complete account opening on the day you use the code or within the following 15 days.

The reward has four parts. HK$200 is paid if Mox Credit is approved within 30 days of account opening and an eligible purchase is made within 30 days of approval; a further HK$1,000 is paid for eligible spending of HK$2,000 on Mox Credit during the promotion period; HK$500 is paid for depositing HK$50,000 within the 7-day deposit period and maintaining it every day for the following 30 days (time deposits and FlexiBoost do not count); and another HK$500 is paid for activating Mox Invest within 14 days of account opening and trading HK$50,000 within 30 days. The savings and investment rewards require the credit card approval and HK$2,000 spending conditions to be met first.

The HK$200 is paid within 60 days of the eligible transaction being posted, and the savings reward is paid on or before 31 March 2027 and the investment reward on or before 28 February 2027; Octopus top-ups through Apple Pay do not count towards spending.

To open a Mox account you must be aged 18 or over and hold a Hong Kong identity card (permanent or non-permanent) and a Hong Kong residential address. Credit card applications are assessed on income, occupation and credit history, and the bank has not published a minimum income requirement; applicants who are not in employment may also apply, but may be asked to provide supporting documents.

The credit limit is set according to monthly income, occupation and credit history. A request for a higher limit requires proof of income; after a rejection you cannot reapply for three months, and students cannot apply for an increase. If the Mox account is closed within 12 months, all spending rebates already paid will be clawed back.

As at 11 October 2026, the Mox Bank app was rated 4.8 on the App Store (Hong Kong), from 92,965 ratings, and 4.6 on Google Play, from 35,326 ratings. The overall ratings are high, but recent written reviews are predominantly negative.

The more common complaints include repeated changes to rebate conditions and welcome offer places or conditions that could not be met; customer service available only through online chat, with long waits, and late fees that are difficult to have waived; repeated identity re-verification at login; reduced credit limits or frozen accounts; and failures when adding the card to Apple Pay.

Suitable for: people whose spending is weighted towards supermarkets; customers whose assets already reach HK$600,000 and who qualify for the 2% Mox+ rebate; and people who would like to manage their account, savings and credit card in a single app.

Not suitable for: people who often spend in foreign currencies but do not wish to use miles mode; those who habitually pay only the minimum payment; those who need telephone customer service; and those who may close the account within 12 months.