Asia Today | Woori Card’s ‘Card Basics’ — A Hit Foretold, Hits 300,000 in Two Months
Asia Today reported that Woori Card's flagship product 'Card Basics POINT' surpassed 300,000 cards issued two months after launch. The industry-best 0.8% base rate, extra rewards in everyday categories, and 3% simple-pay rewards were cited as popular features, along with the card design applying Korean painter Kim Hyun Jung's work 'Gwayubulgeup.'
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Asia Today reporter Choi Jung-a = Woori Card announced on the 31st that its flagship product 'Card Basics POINT' has become a runaway hit, surpassing 300,000 cards issued two months after launch.
Woori Card launched its new product Card Basics POINT, adding artistic design to point-earning benefits, on the 2nd of last month, surpassing 100,000 issued in three weeks and 300,000 in two months.
The secret to this card's popularity is its dramatic point-earning benefits. Card Basics POINT earns a base 0.8% across all categories, the industry's best, with no cap once the previous month's spending reaches 300,000 won.
Extra points can also be earned in categories customers use often. Through big-data analysis, 10 special categories customers frequently use — telecom, public transit, and EV charging at 5%; coffee and movies at 3%; department stores, discount marts, online shopping, gas, and overseas purchases at 1% — earn up to 5% of the amount spent.
Benefits for simple-pay users are also included. Registering and paying with the card through the four major simple-pay services — Naver Pay, Kakao Pay, Payco, and SSG Pay — earns an extra 3% back, on top of whatever benefits each simple-pay service itself offers, very useful for customers who prefer simple pay.
Artistic product design also played a firm role in the runaway hit. The card-plate design applies Korean painter Kim Hyun Jung's work 'Gwayubulgeup.' Woori Card explained, "The peony painted in the work symbolizes wealth, prosperity, and honor, and reflects Woori Card's commitment to guarding against overspending and positioning itself as the standard of wise consumption."
Rich, varied product-launch events for Woori Card's customers are also underway. Through the end of June, customers using the four major simple-pay services (Naver Pay, Kakao Pay, Payco, SSG Pay) with the card get double card points, along with 2–3 month interest-free installments at all merchants and airfare special-price events.
Customers who apply online can also take part in an 'annual fee cashback event.' Those who apply for Card Basics POINT or Card Basics POINT Check online through the end of June and spend 100,000 won or more by the end of the month following the application month can get up to 100% of the annual fee cashed back for Card Basics POINT, or up to 5,000 won for Card Basics POINT Check.
The annual fee is 12,000 won for the international version and 10,000 won domestic-only; cards can be applied for at Woori Bank branches nationwide, the Woori Card website and mobile app, or the call center. Further details on the product and ongoing events are available on the Woori Card website and mobile app.
A Woori Card official said, "We're grateful for the support our customers have shown Card Basics POINT," adding, "Next month we'll unveil Card Basics discount-type and shopping-type products with dramatic benefits at the industry's best level."
Reporter Choi Jung-a newswoman@asiatoday.co.kr