[Practical Finance] Growing Inflation Pressure... Credit Card Strategies for Saving on Living Expenses

More Than Half of Grocery Shopping Moves Online: Changing Consumer Habits

"Even a Little More": Rising Interest in Everyday Practical Benefits

"Understand Your Spending Patterns Before Chasing Discount Rates"

With persistently high inflation, more consumers are carefully scrutinizing credit card benefits. From frequently used categories like grocery shopping to fixed monthly expenses such as telecommunications and utility bills, people are seeking to capitalize on discounts and rewards points. In response, credit card companies are launching products that lighten the burden of living expenses or allow users to select benefits tailored to their individual spending habits.

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According to the credit card industry on September 2, a survey by the credit card platform CardGorilla of approximately 4,000 users showed that 54.2% of respondents named online platforms such as Naver, Coupang, and Kurly as their primary grocery shopping channel. Large supermarkets followed with 19.9%, and convenience stores with 7.9%. This reverses the trend from the 2023 survey, where large supermarkets outpaced online platforms. In the first half of this year, the most-searched benefits by consumers were for telecommunications, shopping, education and parenting, supermarkets and convenience stores, and fuel, in that order. This shows that consumers are looking for ways to maximize value from everyday spending such as online shopping and telecom bills.

The competition among cards for shopping benefits is particularly fierce. As online grocery shopping becomes an everyday occurrence, the importance of online shopping benefits has increased in card selection. Credit card companies are thus introducing products that offer benefits across both online and offline shopping or that focus on specific channels. For example, Woori Card’s ‘Card of Justice 2 Shopper’ provides a 10% discount not only on online shopping at platforms such as Coupang, Naver Plus Store, and Kurly, but also at offline locations like large supermarkets, department stores, and outlet malls. An additional 5% discount is available on online shopping during the week and on offline shopping on weekends. Subscription fees for Coupang Wow, Naver Plus Membership, and Kurly Members are also eligible for discounts.

If you frequently shop at a particular retailer, it may be worth considering a co-branded card. The ‘Naver Hyundai Card Edition 3’ awards 5% of payments made at Naver Plus Store as Naver Pay points. Through a promotional offer running until July 2027, you can earn up to 10%. Naver Plus Membership users can accumulate additional points from the membership itself. A Naver Pay representative explained that “the card was designed so that membership and card rewards stack, allowing users to enjoy even greater benefits.”

If you are a frequent Olive Young customer, the ‘Olive Young Hyundai Card Plus’ is also an option. It accumulates 20% of Olive Young purchases as Olive Points, which can be used like cash at the Olive Young online mall and offline stores. Furthermore, you can earn 5% back on online shopping, coffee shops, and delivery apps, respectively. However, these types of PLCC (private label credit cards) become more advantageous as you use the specific platform more often, but if your spending is distributed across other categories, you may not be able to fully utilize the benefits.

There are also cards aimed at consumers who prefer shopping at traditional markets or local stores rather than online. The ‘Sijangae On’ check card from Saemaul Geumgo offers a 15% discount at traditional markets, Onnuri Gift Certificate merchants, and local or eco-friendly grocery stores. It also provides a 5% discount at large supermarkets, convenience stores, and coffee shops. The actual discount amount ranges from 6,000 won to 20,000 won per month, depending on the previous month’s spending.

If you want to reduce recurring monthly expenses, it is worth looking into cards that offer utility bill benefits. Utility bill discounts are mainly divided among electricity bills, city gas bills, and apartment management fees. Depending on the billing method, if your apartment management bill includes electricity and gas, you should select a card that applies discounts to management fees; if you live in a single-family or multifamily house and pay bills separately, you need a card with explicit discounts for electricity and city gas. For example, Shinhan Card’s ‘Mr. Life’ card offers a 10% discount on city gas and electricity bills. Hyundai Card’s ‘Alphabet Card R’ provides discounts across city gas, electricity, and apartment management bills.

If you find monthly spending requirements burdensome, check whether utility payments count toward monthly spend requirements. Some cards count apartment management fees or electricity and gas bills toward monthly spend, allowing you to meet your minimum by paying regular fixed costs and receiving discounts.

There is also an increasing number of customizable cards where consumers can choose their own benefits. Hana Card’s ‘Moving Card’ allows you to select one of five modes—All Day, Online, Play, Life, or Global—each month. For example, you might use a mode that covers transportation and shopping most of the time, then switch to an online-focused mode if your subscription usage increases, or to an international transaction mode before traveling.

Simple payments and subscriptions have become new areas for card discounts. The ‘KakaoBank Sticky Shinhan Card’ gives a 10% discount when using KakaoPay, Naver Pay, or Shinhan SOL Pay. In addition, subscriptions to ChatGPT and Claude are eligible for a 10% discount, while Naver Plus and Coupang Wow Membership can receive up to 50% off.

An industry source commented, “A high card discount rate doesn’t always mean it’s the best option for you; you need to consider your usual spending volume, your prior month’s activity, and monthly discount ceilings. Since exclusions for things like utility bills or gift certificate purchases vary by card, you should first check where and how much you spend each month before choosing a card.” The source added, “As prices rise and fixed expenses such as phone bills, management fees, and groceries feel increasingly burdensome, it is difficult to save a large amount all at once, but if you consistently get discounts or rewards from necessary spending, the annual total becomes a tangible amount.”

This content was produced with the assistance of AI translation services.