According to the different types of credit cards and settlement channels, there are several situations:

1. When purchasing a UnionPay credit card in Hong Kong, the merchant will directly use the UnionPay channel for settlement. When swiping the card, The Hong Kong dollar price is directly converted into RMB according to the real-time quotation, and there is no currency conversion fee. You can pay directly in RMB when repaying your credit card. It is the most cost-effective settlement method.

2. UnionPay dual-currency credit card, taking UnionPay/VISA card as an example. When merchants settle, they usually see the logos of two settlement channels on the card. If you choose to use the UnionPay channel, the situation is the same as 1.

3. UnionPay/VISA card, or single VISA card, etc., and the merchant has not joined the UnionPay settlement channel (just pay attention to whether the merchant has posted the UnionPay mark), this means the merchant will directly use VISA ( Master, JCB, American Express, etc.) channel settlement. Accounting will be done directly in Hong Kong dollars, but because domestic dual-currency credit cards are usually RMB/USD credit cards, the card will automatically convert Hong Kong dollars into US dollars during settlement (there are currency conversion procedures ranging from 1[] to 2[] fee), which will be shown in the US dollar bill when the credit card bill is issued at the end of the month. On the repayment date, you can purchase US dollars to repay the bill yourself, or the bank can help you automatically purchase US dollars to repay.

4. VISA multi-currency credit card. This card only has the VISA mark and can only be settled through the VISA channel. But the advantage is that the bill can be automatically converted into RMB according to the real-time quoted price during settlement, and the intermediate currency conversion fee is waived. When repaying a credit card, you only need to repay according to the RMB amount shown on the bill. If you often spend money abroad, it is recommended to get a multi-currency credit card like this.