2024 China Credit Card Overseas Cashback Summary

The article was first published at https://finvoke.0xv9.com/posts/2024-chinese-bank-card-cashback-policies-for-overseas-transactions/

This article aims to provide a detailed introduction and summary of the overseas cashback policies of major banks in China for 2024.

This article covers the cashback policies of major banks, including cashback rates, cashback scope, cashback methods, cashback quotas, prize pools, and related restrictions.

This is the most comprehensive guide to overseas cashback for 2024.

The knowledge of bank cards in mainland China will not be elaborated here. Please refer to this article: Basic Knowledge of Bank Cards in Mainland China.

A table will help you understand the overseas bank card cashback for 2024.

By using a comparison table, you will be able to clearly understand the advantages and characteristics of each bank, allowing you to make informed choices based on your needs and spending habits.

Each bank has its unique focus and features regarding overseas cashback.

Highlights of This Issue#

Agricultural Bank of China U V M overseas cashback activity has been extended. The cashback amount is large, with a rate of up to 14.5%, worthy of DLB research.
Industrial and Commercial Bank of China has a general cashback rate, with new v and m ranking activities added, where the combined rate (including designated merchants) can reach 6.23%.
China Construction Bank has fallen from grace, with a cashback of 8%+1% reduced to 2.67%+1%, now in a very low cashback rate tier, with the only advantage being a large quota.
Bank of China offers a large cashback amount, but all are ranking activities. Considering the built-in 1%+Mastercard big challenge 1.64% guarantee, the ideal cashback rate can exceed 8%.
CITIC Bank m cashback 10% activity has been extended, but the online limit is only 2 transactions of $10. New business travel cashback has been added. If you can use Air China/Xiamen Airlines/Sichuan Airlines world cards to win in high cashback ranking activities, the rate can approach 5%.
China Minsheng Bank Mastercard and JCB activities have been extended, remember to "reserve a spot." Due to the more card's built-in 1%+Mastercard big challenge 1.64%, m cashback can reach 6.64%.
China Merchants Bank activity has been extended, with a general rate, and it is limited to offline, with few people able to meet the standards. After stacking with Diamond Card/UnionPay White/Freedom Life White 1%, the cashback rate can reach 5.4%.
Everbright Bank Visa and JCB activities have been extended. After stacking, the Visa ranking cashback rate is too low; while the JCB ranking can reach up to 11.4%, JCB cardholders are few, so consider sneaking in.
Bank of Communications designated destination offline cashback has been extended, with a rate of over 4%. If holding the World Extreme card, the cashback rate can reach 5.95%. Additionally, a new Visa online cashback has been added, with a rate of 3.33%, earning more with multiple cards.
Guangfa Bank Visa and Mastercard activities have been extended. A new Mastercard business travel MCC cashback has been added, and using the benefit card for stacking cashback can reach 9.18%. The Visa cashback rate can reach a maximum of 4.4% after stacking.
Pudong Development Bank activity has been extended, but with varying degrees of warmth. The ultra-white offline 10% activity has been extended for six months but has cut the limit. Fortunately, Pudong has many cards with a built-in 1%, and you can also participate in the Mastercard big challenge. After stacking, the online cashback rate can reach 5.21%, and offline use of the World Extreme card can reach 9.31%.
Ping An's offline ranking activity, except for the UnionPay channel, has been extended. There are many Ping An cardholders, and the cashback rate is related to the ranking competition, making it difficult to estimate. Fortunately, there is a Mastercard dollar card 1% and a Mastercard big challenge 1.64% guarantee.
Huaxia Bank Mastercard activity has been extended, with a combined rate of 4%.
Industrial Bank UnionPay offline activity has been extended, with a designated destination cashback rate of up to 12%, earning more with multiple cards, but the prize pool is not large.
Beijing Bank UnionPay, Mastercard, American Express, and JCB activities have been extended. JCB cashback can reach up to 10%, earning more with multiple cards.
Shanghai Bank Visa offline activity has been extended, with a cashback rate of up to 4.29%.
Guangzhou Rural Commercial Bank Golden Rice Visa White online 5% activity has been extended.
Ningbo Bank Safari 1.56%, Elite Platinum Card/JD Plus White 1% activity has been extended.
Fubon Bank Visa card activity has been extended, with a rate of 5.98%. Non-dollar transactions have a 1.5% currency conversion fee.

Additionally, the Mastercard big challenge has been extended, with no significant changes to the activity. For analysis of card organization activities, please stay tuned for the next breakdown.

Bank-by-Bank Analysis#

Next, we will introduce the overseas cashback policies of different banks one by one. Each bank has its unique policies and benefits aimed at attracting cardholders to earn more cashback when spending abroad. Whether you are seeking shopping discounts, tuition discounts, or straightforward cashback, each bank offers various options. By carefully understanding the policy details of each bank, you will be able to make informed choices based on your needs and spending habits to maximize your overseas spending returns.

Industrial and Commercial Bank of China (ICBC)#

ICBC can achieve quadruple stacking: excess cashback, spending amount ranking, designated merchant cashback, and built-in cashback from card types.

For example, theoretically, using the Global Plus Mastercard at designated merchants (Amazon/Apple), you can swipe $5000, earning $100+ Global Plus built-in ¥500+ excess cashback $42+ ranking $100=6.23%. The issue is that the quota is not large.

ICBC activities do not require registration.

TIPS:

The Global Plus Platinum Card is a foreign currency card + UnionPay card set, with a rigid annual fee of ¥2000. However, you can only open a foreign currency card, with an annual fee of only ¥1000, making the annual cashback rate after considering the fee 4000/250000=1.6%.
According to actual tests, the built-in cashback of the Global Plus card and the student card has a monthly prize pool limit, but the amount is unknown. It may have been unused before, but now it is no longer the case.
Besides the 1% built-in cashback of the student card, other activities are calculated by card, earning more with multiple cards.
Designated merchant cashback may have unstable arrival situations, so be prepared for potential clawbacks.

Activity Path:

"ICBC Credit Card" WeChat Official Account—Discounts—Love Shopping Season—Love Shopping Worldwide

Activity Time:

Global Plus Card/Student Card: Throughout 2023
Visa designated online merchants random cashback: March 16, 2023—February 29, 2024
Mastercard designated merchants cashback 2%, designated study merchants cashback 5%: March 16, 2023—February 29, 2024
UnionPay Love Shopping Worldwide: May 19, 2023—March 31, 2024
Visa, Mastercard Love Shopping Worldwide: July 1, 2023—March 31, 2024
Visa, Mastercard ranking: November 1, 2023—February 29, 2024

Activity Summary:

Global Plus Card cashback 2%: Platinum card swipes ¥25000 to earn ¥500, with an annual cashback limit of ¥5000; Gold card swipes ¥1000 to earn ¥200, with an annual cashback limit of ¥2000.
Student card cashback 1%: Platinum card swipes ¥50000 to earn ¥500, Gold card swipes ¥20000 to earn ¥200.
Student card tuition payment cashback $100: Single tuition transaction over $5000 earns $100, cashback rate 2%.
Visa designated online merchants random cashback: Random cashback up to 10%, with a maximum cashback of $50 per card per month, prize pool unknown. Designated merchants include Amazon, Apple.
Mastercard designated merchants cashback 2%: Each card swipes $5000 to earn $100, with a monthly prize pool of $70,000 (as informed by customer service). Designated merchants include Amazon, Apple.
Mastercard CFA, ACCA cashback 5%: Each card swipes $1000 to earn $50, with a monthly prize pool of $2350.
UnionPay Love Shopping Worldwide: Single transaction over ¥2000 earns 10%, each card swipes ¥3000 to earn ¥100, cashback rate 3.33%, with a monthly prize pool of ¥650,000.
Visa, Mastercard Love Shopping Worldwide: Quarterly swipe over $2850 earns 10%, each card swipes $3270 to earn $42. The quarterly prize pool is m$320,000, v$525,800.
Visa, Mastercard ranking: Each card must swipe at least $2000 to earn $100. Ranked by spending amount, m 2600, v 2770.

Visa sees the world

Mastercard

VISA designated overseas online merchants

Mastercard, designated overseas merchants

ICBC Visa credit card makes the dream of traveling a reality

ICBC Mastercard overseas card channel online and offline spending 10% cashback

ICBC UnionPay overseas 10% cashback

ICBC Global Travel Plus credit card 2% cashback

ICBC VISA or Mastercard 1% cashback and tuition-related cashback

Agricultural Bank of China (ABC)#

The Agricultural Bank is making a strong push, with tiered cashback activities available for Visa, Mastercard, and UnionPay. Especially for Visa and Mastercard, the rates and limits are exceptionally high, and with the built-in 1% from the Le Xuan m card, the theoretical cashback rate can reach 14.5%.

However, the higher the cashback rate, the fewer the quotas. The highest tier for Visa is a spending amount ranking with only 60 quotas; the highest tier for Mastercard has only 30 quotas. The next tier has slightly more quotas, with rates above 5%.

The Agricultural Bank calculates spending amounts only after registration.

TIPS:

UnionPay designated merchants cashback 12%, online including US Amazon/US Apple/IHG/Marriott points purchases, offline including Hong Kong and Macau Apple/LV/Chanel/Chow Tai Fook, etc. Those with personal needs should pay attention.
The general limit for the Agricultural Bank is not very high, and it is impossible to store RMB to increase foreign currency limits. The previously shared method of online banking foreign currency overpayment has also become ineffective, so to hit the highest tier cashback, you can only deposit US dollars at the counter.
Note that the tiered cashback for Visa at $3000 and $5000 is sorted by the time of the first transaction, meaning you can reserve a spot.
UnionPay and Mastercard activities are calculated by card, earning more with multiple cards; Visa is calculated by household.

Activity Path:

ABC app—Homepage—Credit Card—Middle Banner "Le You Tian Xia"—Register/Claim Coupons

Activity Time:

January 1, 2024—March 31, 2024

Activity Summary:

(1) Visa activity includes four parts:

Cashback 3%: During the activity period, swipe $1667 to earn $50, with a prize pool of $200,000.
Tiered cashback, only one tier can be taken, sorted by the time of the first transaction (can reserve a spot). Tier 1—Swipe $3000 to earn $150, Tier 2—Swipe $5500 to earn $300. Swipe $5500 to earn $300, with a total prize pool of $500,000 for both tiers.
Excess cashback: Swipe $10,000 to earn $1000, with a prize pool of $60,000. Ranked by total spending amount for the entire period.
Designated merchant cashback 10%: Swipe $500 to earn $50, with a prize pool of $60,000. Designated merchants include Amazon.

(2) Mastercard activity:

Cashback 3%: Each card swipes $1667 during the activity period to earn $50, with a prize pool of $100,000.
Tiered cashback, each tier can be taken simultaneously, calculated by card. Tier 1—Swipe $3000 to earn $150, Tier 2—Swipe $5500 to earn an additional $150, Tier 3—Swipe $10,000 to earn an additional $1000. Each card swipes $10,000 to earn $1300, with prize pools for tiers 1/2/3 being $150,000/$100,000/$30,000 respectively.
Le Xuan Mastercard cashback 1%: Swipe $30,000 to earn $300.

(3) UnionPay activity:

Cashback 3%: Each card swipes ¥5000 to earn ¥150, with a total prize pool of ¥1.5 million for the entire activity period.
Cashback for reaching the limit: Each card swipes ¥20,000 to earn ¥350, with a prize pool of ¥1.3 million.
Designated merchant cashback 12%: Each card swipes ¥1250 to earn ¥150, with a prize pool of ¥50,000. Designated merchants include online US Amazon/US Apple/IHG/Marriott points purchases, etc., and offline Hong Kong and Macau Apple/LV/Chanel/Chow Tai Fook, etc.

Bank of China (BOC)#

The overseas cashback of Bank of China has completely entered the era of spending amount ranking. Multiple activities can be stacked, and the single channel monthly cashback amount can reach $1900, with the required swipe amount exceeding $30,000. The benefits are indeed substantial, but once clawed back, it can be painful.

To earn ¥200 or ¥800 in ranking, you generally need to swipe ¥10,000 or ¥50,000 or more. The highest tier for large amounts generally has a high required amount, meaning you can earn $1770+¥800+¥200 by swiping $30,500, and if you add the built-in 1% of $50 and the Mastercard big challenge 1.64%, you can achieve an 8% cashback rate.

Because Bank of China's Mastercard has a built-in 1%+Mastercard big challenge 1.64% guarantee, and the quotas for each card organization are combined, the ranking can be recklessly stacked.

Bank of China calculates spending amounts only after registration.

TIPS:

Cards with built-in 1% cashback: Various V/M Zhuang Jun cards, Cross-border Selection cards, 62 UnionPay Platinum cards and above.
Zhuang Jun cards require registration for 1% cashback, while 62 UnionPay Platinum cards do not require registration.
Jin Jilie Zhuang Jun M dollar card, Zhuang Jun M pound card, Zhuang Jun M Australian dollar card, and various Bank of China world cards can also participate in the Mastercard spending big challenge.

Activity Path:

Colorful Life app—Homepage—All Tools—Cross-border Zone

Activity Time:

10% cashback ranking: April 1, 2023—March 31, 2024
Large amount tiered cashback: December 1, 2023—February 29, 2024
Study merchant cashback: Until March 31, 2024

Activity Summary:

(1) 10% cashback ranking:

Limited to Visa, Mastercard, JCB cards.

Single channel per month, swipe ¥2000 to earn ¥200, ranked by spending amount, with a total of 13,000 quotas across three channels each month.
Single channel per month, swipe ¥20,000 to earn ¥800, ranked by spending amount, with a total of 1600 quotas across three channels each month.

(2) Large amount tiered cashback ranking:

Visa and Mastercard channels participate and are counted separately, ranked by spending amount.

Single channel per month, swipe over $1500 to earn $70, with a prize pool of v 1500 quotas, m 980 quotas.
Single channel per month, swipe over $5500 to earn $200, with a prize pool of v 460 quotas, m 350 quotas.
Single channel per month, swipe over $5500 to earn 6%, with a prize pool of v $120,000, m $88,000.
Single channel per month, swipe at least $30,500 to earn $1770.

(3) Study merchant cashback:

Visa and Mastercard channels participate and are counted separately.

China Construction Bank (CCB)#

China Construction Bank's overseas cashback has completely warmed up, with the cashback rate dropping from 8% (limit ¥666) +1% every quarter across five channels to 2.67% (limit ¥200) +1% every month across four channels, suddenly turning from a king to bronze.

The 1% cashback for Family Love Card and JOY Card has not been extended, but fortunately, the 1% for Muse and Enjoy cards is still available. The random cashback for designated study merchants (including Apple) has also not been extended.

Registration at CCB allows participation in the current and subsequent activities (transactions for the entire month of the registration month can be counted).

Activity Path:

CCB app—Credit Card—Promotional Activities—Play Around the World

Activity Time:

January 1, 2024—June 30, 2024

Activity Summary:

Limited to Visa, UnionPay, JCB, and American Express channels. Each month, for each channel, swipe over ¥5000 to earn 8%, swipe ¥7500 to earn ¥200. Monthly prize pools: V: ¥2.8 million, U: ¥550,000, AE: ¥210,000, JCB: ¥160,000.

Other Banks#

CITIC Bank

CITIC has added a new business travel MCC cashback (around 3.33%) this year, in addition to the regular cashback/random cashback and high cashback. The Mastercard cashback of 10% is currently among the top cashback rates in the market.

CITIC Visa calculates spending amounts only after registration, while Mastercard calculates spending amounts on D+1 after registration.

TIPS:

For CITIC Mastercard, swiping on the registration day may not yield cashback.
Original activity rules: "If the cardholder successfully registers for the activity on January 1, 2024, transactions that meet the standards from January 2, 2024 (inclusive) will have the opportunity to earn cashback. Transactions before January 2, 2024 (exclusive) will not earn cashback. Each cycle of this activity requires separate registration."
Visa random cashback, besides the monthly cashback limit of $50, has a new limit on the number of transactions—5 transactions.

Activity Path:

Dynamic Card Space app—Search "Overseas Zone"

Activity Time:

Mastercard activity: January 1, 2024—June 30, 2024
Magic Card: May 2023—October 2023, November 2023—April 2024, two periods
Visa activity: January 1, 2024—June 30, 2024
Free White, Youth Card: January 2024—February 2024

Activity Summary:

(1) Mastercard:

Cashback: Single transaction over $100 earns $10. Online, swipe $1002 monthly to earn $20, with a monthly prize pool of $15,000; offline, swipe $1005 monthly to earn $50, with a monthly prize pool of $20,000.
Study cashback: Monthly education MCC swipes over $5000 earn 10%, swipe $6000 to earn $100, with a cashback rate of 1.67%, and a monthly prize pool of $7000.
High cashback: Monthly cumulative swipes over $8000, with the top 100 transactions earning $200.
Business travel cashback: Monthly business travel MCC swipes over $1000 earn 10%, each household swipes $1500 to earn $50, with a monthly prize pool of $10,000.

(2) Magic Card high-end merchants:

Registration is required for the activity. Designated offline merchants earn 3% cashback on monthly accumulations over $800, swipe $3467 to earn $80, with a cashback rate of 2.3%. Monthly prize pool $20,000.

Designated overseas high-end brand merchants include: CELINE, GUCCI, LOUIS VUITTON, CHANEL, HERMES, BVLGARI, TIFFANY & CO, Burberry, Fendi, Christian Dior, TOD’S, Cartier, VanCleef & Arpels, CHAUMET, Qeelin, Prada, Valentino SAINT LAURENT, Roger Vivier, LOEWE.

(3) Visa:

Cashback: Single transaction over $100, random cashback, up to 30%, limit of 5 transactions, with a monthly cashback of $50. Monthly prize pool of $50,000.
High cashback: Monthly cumulative swipes over $8000 earn $200, ranked by transaction amount, taking the top 150.
Business travel cashback: Monthly business travel MCC swipes over $1000 earn 10%, each household swipes $1500 to earn $50, with a monthly prize pool of $10,000.
Free White, Youth Card: Education exam MCC swipes over $500 earn 8%, each month swipes $3000 to earn $200, with a rate of 6.67%, prize pool unknown.

Business travel MCC: 3000-3350, 4511, 4411, 3501-3999, 7011, 4112

Education MCC: 8211, 8220, 8241, 8244, 8249, 8299

China Minsheng Bank

Minsheng Mastercard and JCB excess cashback activities have been extended, with rates of 4% and 4.8% respectively. Note that Minsheng has a tradition of "reserving a spot," ranked by the time of swiping to $1000 (Mastercard)/$500 (JCB), first come first served.

Minsheng also has an additional ranking cashback of $100 offline, so those with extra capacity can participate.

Minsheng allows registration once to participate in the current and subsequent activities (transactions for the entire month of the registration month can be counted).

Activity Path:

全民生活 app— 精选 — 精彩活动 — 更多活动 —"境外" 栏目

Activity Time:

Mastercard: November 22, 2023—March 31, 2024
JCB: September 28, 2023—March 31, 2024

Activity Summary:

(1) Mastercard

Online and offline excess cashback: Monthly cumulative swipes over $1000 earn 6%, swipe $3000 to earn $120, with a rate of 4%. Monthly prize pool of $50,000. Ranked by the time of swiping to $1000.
Offline stacked excess cashback: Monthly offline cumulative swipes over $4000 earn 10%, swipe at least $5000 to earn $100, with a rate of 2%. Monthly prize pool of $10,000 (100 quotas), ranked by spending amount.
More card cashback 1%: Each household swipes $20,000 to earn $200.

(2) JCB

Monthly cumulative swipes over $500 earn 6%, each household swipes $2500 to earn $120, with a rate of 4.8%, and a monthly prize pool of $8000. Ranked by the time of swiping to $500.

China Merchants Bank

China Merchants Bank cashback has been extended for another 3 months, but it is limited to offline, and the rates are also general, making it somewhat unappealing. The advantage is that the quotas are generally not fully used.

Activity Path:

掌上生活 app— 搜 "出境"— 非常境外游

Activity Time:

January 9, 2024—March 31, 2024

Activity Summary:

Offline designated destination, excess cashback 10%: Offline spending over ¥5000 earns 10% cashback (swipe ¥8000 to earn ¥300, with a cashback rate of 3.75%).
Single transaction over ¥200 earns ¥20, limited to 1 time.
Offline designated destination, limited to v/m/jcb. Each card accumulates over ¥30,000 for the entire cycle, earning a ¥1000 JD E-card. V: 650 quotas, M: 180 quotas, JCB: 70 quotas.
Designated destinations: Hong Kong, Macau, Taiwan, Thailand, Singapore, Malaysia, Japan, South Korea, Australia, New Zealand, and other Asian destinations.
Diamond Card/UnionPay White/Freedom Life White earns 1% cashback, with a monthly limit of ¥1000 per card.

Everbright Bank

Everbright Visa activity has been extended for one month. JCB tiered ranking has also been extended for 3 months, with a theoretical cashback rate of up to 11.4%. Based on last year's situation with JCB, this ranking is not overly competitive, as there are very few cardholders.

Everbright calculates spending amounts only after registration.

Activity Path:

阳光惠生活 app—Homepage—All—Overseas Zone

Activity Time:

Visa overseas activity: July 1, 2023—January 31, 2024 JCB activity: January 2024—March 2024

Activity Summary:

(1) Visa activity: Visa single transaction cashback: Swipe $100 to earn $10, with a limit of 1 time. Monthly prize pool of $8000. Visa cumulative cashback: Monthly swipes over $500 earn 5%, swipe $2100 to earn $80, with a monthly prize pool of $7000. Ranked by the time of the first transaction each month.

(2) JCB activity: Monthly cumulative swipes over ¥700 earn ¥70, over ¥3000 earn an additional ¥300, over ¥5000 earn an additional ¥200. Monthly prize pools, tier 1 $14,000, tier 2 and tier 3 combined $100,000. Ranked by the amount swiped each month.

Shanghai Bank

Shanghai Bank Visa offline activity has been extended, and the combined cashback rate can reach 4.29%.

Shanghai Bank cashback activities calculate spending amounts only after registration.

Activity Path:

Shanghai Bank PC official website—Credit Card—Enjoy Life—High-end Overseas

Activity Time:

October 2023-February 2024

Activity Summary:

Visa offline cashback 2%: Each card swipes $500 to earn $10, with a monthly prize pool of $7000.
Visa limit cashback: Each card swipes over $899 to earn 10%, swipe $1399 to earn $40, with a monthly prize pool of $8000.

Guangzhou Rural Commercial Bank

Activity Path:

Guangzhou Rural Commercial Bank official website Golden Rice Visa Platinum Card introduction page

Activity Time:

Throughout 2024

Activity Summary:

Limited to Golden Rice Visa Platinum Card, online single transaction over ¥600 earns 5%, monthly swipes ¥8000 earn ¥400. Cashback is returned over 12 months, requiring transactions every month to receive the return.

Ningbo Bank

Activity Path:

Ningbo Bank credit card WeChat official account November 23 article—Black Friday Carnival

Activity Time:

Safari card excess cashback: January 2024—March 2024
UnionPay Elite Platinum Card, JD Plus White cashback 1%: October 2023—September 2024

Activity Summary:

Limited to Ningbo Bank Safari card, registration is required each month. Each card swipes over ¥37000 abroad earns 3%, swipe ¥77000 to earn ¥1200, with a cashback rate of 1.56%.

UnionPay Elite Platinum Card, JD Plus White cashback 1%, with a monthly limit of ¥1000 per card.

Fubon Bank

Fubon Bank's cashback rate can reach 5.98%, which is relatively high, but note that non-dollar transactions have a 1.5% currency conversion fee.

Activity Path:

Fubon Bank credit card WeChat official account November 9 article—Overseas Cashback

Activity Time:

September 14, 2023—February 29, 2024

Activity Summary:

Visa card single transaction over $10 earns 6%, each card swipes $3010 to earn $180, with a monthly prize pool of $30,000.

Others

In addition to this article, we also encourage readers to visit our discussion group and other related articles.

Finvoke gathers professional knowledge and experience related to bank accounts and bank cards.