Financial News | Live Like a CEO With ‘Boss Cards’ Boasting the Industry’s Best Accumulation and Discount Rates
Financial News reported that Shinhan Card, Lotte Card, and Woori Card have successively launched 'boss cards' reflecting their CEOs' own management philosophies, competing with industry-leading accumulation and discount rates. Woori Card's 'Card of Standards POINT,' directly led by CEO Jeong Won-jae since taking office, applies artist Kim Hyun Jung's work to the card plate to add a Korean aesthetic.
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Live like a CEO with 'boss cards' boasting the industry's best accumulation and discount rates
Financial News | Published: 2018.04.08 17:15 | Updated: 2018.04.08 17:15
Shinhan launches 'Deep Dream Card' — up to 3.5% accumulation in the most-used category
Woori's 'Card of Standards POINT' — up to 6% with simple payments
Lotte unveils 'I'm' lineup — discounts of up to 1.4%
Following Shinhan Card last year, Lotte Card and Woori Card have recently launched so-called 'boss cards' embodying their CEOs' management philosophies. In particular, these latest 'boss cards' reflect each CEO's philosophy and convictions, arming themselves with industry-leading accumulation and discount rates as they head into full-scale promotion and a heated competitive landscape.
■ Shinhan's 'Deep Dream Card' — up to 3.5% accumulation
In September last year, Shinhan Card launched the 'Deep Dream Card,' embodying CEO Lim Young-jin's philosophy of imagination. The Deep Dream Card surpassed 1 million cards issued within five months of launch, an unusually fast pace for a general-purpose card.
With an 8,000-won annual fee, the Deep Dream Card offers up to 0.8% base accumulation at all merchants regardless of prior month's spending. Notably, it introduces an 'Auto Selection' feature that automatically directs benefits to categories such as discount stores, convenience stores, and mobile carriers based on customer usage, providing up to 3.5% accumulation in the categories customers use most.
It also offers group-wide benefits: Shinhan Bank customers spending over 200,000 won the prior month get up to 10 free monthly transfer transactions, while Shinhan Investment Corp offers first-time customers 10 years of free online trading commissions. Additional perks include weekend fuel discounts and 3.6.9 taxi fare discounts.
CEO Lim Young-jin said, "The Deep Dream Card is a product born from the convergence of Shinhan Card's capabilities in big data, digital, and design," adding, "We will continue to launch customized products reflecting diverse customer needs."
■ Woori's 'Card of Standards POINT' — up to 6% accumulation
Woori Card also launched its 'Card of Standards POINT' series on the 2nd, adding artistic design to strong point-accumulation benefits. Also directly led by CEO Jeong Won-jae since taking office, known as the 'Jeong Won-jae Card,' the series — two credit cards and one check card — specializes in point accumulation, and its plate design applies Korean painter Kim Hyun Jung's work to add a 'Korean beauty.'
'Card of Standards POINT' offers 0.8% base accumulation across all merchant categories with no limit once prior-month spending reaches 300,000 won. On top of that, up to 5% of spending is accumulated in 10 special categories: mobile carriers, public transit, and EV charging at 5%; coffee and movies at 3%; and department stores, large discount stores, online shopping, fuel, and overseas purchases at 1%. Registering the card with simple-payment services like Naver Pay, Kakao Pay, Payco, or SSG Pay adds another 3%, bringing the maximum accumulation rate to 6%.
'Card of Standards POINT Main Transaction' offers a 0.8% base rate, with points accumulated in all categories once prior-month spending reaches 300,000 won; mobile carriers, public transit, EV charging, coffee, and movies earn 3%, while department stores, large discount stores, online shopping, fuel, and overseas purchases earn 1%, for up to 3% in 10 special categories. Registering a simple-payment service adds 3% more, for up to 6% total.
The 'Card of Standards POINT CHECK' card accumulates up to 1.5% in the same categories as the credit card and 0.3% elsewhere, with an additional 1.5% for simple-payment registrations.
CEO Jeong Won-jae had earlier declared on the 2nd an aggressive marketing push, saying, "We will raise our market share from 8.5% last year to 10% by year end."
■ Lotte's 'I'm Wonderful' — up to 1.4% discount
Lotte Card also carried out a sweeping brand renewal on the 4th, changing its BI (Brand Identity) for the first time in seven years to 'The Most You-ful' and overhauling its entire product portfolio.
As part of this overhaul, Lotte Card unveiled a new 'I'm' card lineup that puts the cardholder, rather than the card itself, at the center — based on CEO Kim Chang-kwon's management philosophy of 'evolving toward people-centered high-touch.'
Lotte Card built the lineup around five cards tailored to customer preferences, starting with 'Lotte Card I'm Wonderful.'
This product follows a 'the more you spend, the bigger the benefit' concept, offering a 0.7% discount on the payment date with no prior-month spending requirement or discount cap. In particular, transactions of 100,000 won or more per purchase earn up to a 1.4% discount, though the monthly discount cap is 100,000 won.
gloriakim@fnnews.com, reporter Kim Moon-hee