Facebook is the most popular social network site (SNS) globally, and WeChat is the top SNS in China, so few regions in the world exist where both SNSs are used simultaneously and are popular among the younger generation, and even fewer studies have been conducted on the comparison of the use of the two top SNSs. This study aims to fill this gap by examining the implications of using home country and global top SNSs for social capital among Chinese students from local (i.e., Macau SAR) and mainland China by adapting the analysis framework of the formation and maintenance of social capital—that is, to assess bridging, bonding social capital, and maintained social capital. A survey of undergraduate students at the only comprehensive public university of Macau (N = 348) reveals that both Facebook and WeChat use are positively associated with bridging social capital and bonding social capital, yet only WeChat use has a significant and positive relationship with maintained social capital. In contrast, the time spent on Facebook has a strong negative relationship with bridging and bonding social capital. On-campus living also has a positive relationship with both bridging and bonding social capital. All this suggests that keeping social connections virtually and physically simultaneously might provide greater benefits for users.