Hong Kong credit card transactions dip in Q1 even as card count surges

Card spending softened from Q4 but remains 13.6% higher than a year ago.

The total value of credit card transactions in Hong Kong dipped 0.1% in Q1 2026 even as the number of cards rose, data from the Hong Kong Monetary Authority (HKMA) showed.

A total of $311.3b in transaction value was recorded during the period, a 0.1% decline compared to Q4 2025, although it was 13.6% higher than in Q1 2025.

Of that, HK$211.5b was related to retail spending in Hong Kong, HK$90.3b were in retail spending overseas, and HK$9.5b were cash advances.

The number of credit cards in circulation in Hong Kong rose by 7% to 29.18 million cards in Q1 compared to the previous quarter, the HKMA said. This is also 33.4% higher than a year earlier.

A total of 384.94 million credit card transactions was recorded in Q1, 2.3% lower than in Q4 2025, but 15.8% higher than in Q1 2025.