[Ki Ha-young's Life Card] How to Get Up to 110,000 KRW Back with KakaoBank Credit Card

[Asia Economy Reporter Ki Ha-young]Is there anyone these days without at least one credit card? In modern society, anyone can have a card if they want. Credit cards have brought unparalleled convenience to daily life. Now, wherever you go, you can easily see people paying with credit cards or smartphones. As demand has increased, cards with various benefits are being released almost daily. Accordingly, Asia Economy delivers diverse stories related to cards, which are inseparable from our consumer life, through the weekly 'Cards in Daily Life' corner, including introductions of new cards, industry behind-the-scenes, and guides for card beginners.

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On the 27th of last month, KakaoBank launched four types of co-branded credit cards. These can only be applied for through the KakaoBank application (app). If you have a KakaoBank account, you can apply for the co-branded card in the app by entering simple information and completing KakaoBank authentication, after which the card is issued.

The card issuers offering KakaoBank credit cards are Shinhan, Samsung, KB Kookmin, and Citi Card, four companies in total. Targeting the main customer base of KakaoBank, the 20s and 30s generation, each company differentiated the benefits. For those considering issuing a KakaoBank credit card, we analyzed the benefits of the four cards.

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◆Shinhan Card: 50,000 KRW cashback after 70 payments of 5,000 KRW each= If you make at least two small payments of 5,000 KRW or more per day, the 'KakaoBank Shinhan Card' can be the best card for you. This card features cashback benefits based on the number of uses. Regardless of the previous month's spending amount, it counts the number of times you spend 5,000 KRW or more at domestic merchants and provides cashback in increments of 10 uses. For example, if you use it 10 times or more, you get 2,000 KRW cashback; 30 times or more, 10,000 KRW cashback; and if you use it 70 times or more, you can get up to 50,000 KRW cashback.

To maximize benefits with this card, you need to make 70 payments of 5,000 KRW each. In this case, you spend 350,000 KRW per month and get 50,000 KRW back. However, the same transaction on the same date is counted as one use. For example, if you make two payments at the same convenience store in one day, it counts as one use.

Also, if your previous month's spending is 400,000 KRW or more, you get up to 6,000 KRW cashback each on delivery apps (Baedal Minjok, Yogiyo) and KakaoT. If you register the KakaoBank Shinhan Card on each app and spend 5,000 KRW or more, you get 3,000 KRW cashback, up to twice a month for a maximum of 6,000 KRW cashback per app. The annual fee is 15,000 KRW for domestic-only cards and 18,000 KRW for international cards (Visa, MasterCard).

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◆Samsung Card: 7,000 KRW annual fee, 0.5% discount with no previous month spending requirement= If you want a low annual fee and discounts without previous month spending conditions or limits, you can get the 'KakaoBank Samsung Card.' Both domestic-only and international cards have an annual fee of 7,000 KRW, about half that of other cards. Also, regardless of previous month spending, it offers unlimited 0.5% discounts at all domestic and international merchants. Especially, essential daily sectors such as discount stores, convenience stores, and supermarkets offer a 1% discount.

Additionally, if your previous month spending is 500,000 KRW or more, you get up to 20,000 KRW discount per month, divided into four categories with a maximum of 5,000 KRW discount each. First, you get a 3% discount when paying in online shopping malls, delivery apps, health & beauty, and fresh food sectors. You receive benefits when using the card at Gmarket, Coupang, Olive Young, Market Kurly, Baedal Minjok, etc. To get the maximum monthly discount of 5,000 KRW in this category, you need to spend 170,000 KRW.

Also, coffee shops and public transportation sectors offer a 5% discount up to 5,000 KRW. To maximize benefits, you need to spend 100,000 KRW in these sectors. Streaming services such as Netflix, Wavve, and Melon offer a 20% discount on payments of 6,000 KRW or more per transaction; to get the maximum 5,000 KRW monthly discount, you need to spend 25,000 KRW on streaming services. Lastly, movie theaters like CGV and Lotte Cinema provide a 5,000 KRW discount once a month on payments of 12,000 KRW or more.

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◆KB Kookmin Card: Up to 30,000 KRW discount on simple payments and convenience stores with 500,000 KRW monthly spending= If your monthly card usage is 500,000 KRW, the 'KakaoBank KB Kookmin Card' makes it easy to get up to 30,000 KRW in monthly benefits. KB Kookmin Card divides benefits into basic and special discounts, enhancing benefits in sectors preferred by the 20s and 30s generation such as simple payments, convenience stores, and delivery apps.

If your previous month spending is 500,000 KRW or more, you get 3,000 KRW discount when paying 10,000 KRW or more per transaction in ▲simple payments (KakaoPay) ▲convenience stores (CU/GS25) ▲delivery apps and movies (Baedal Minjok, Market Kurly, CGV, Lotte Cinema) ▲coffee, bakery, and fast food stores.

Special discounts include ▲accommodation apps (Yanolja, Yogi-otdae, Daily Hotel) ▲performances and music (Interpark, Ticketlink, Melon, Genie Music) ▲sports, leisure, and amusement sectors, offering 5,000 KRW discount on payments of 10,000 KRW or more per transaction.

If your previous month spending is 500,000 KRW or more, you can get up to 30,000 KRW per month combining basic and special discounts, with up to 3 uses per category per month; if spending is 1,000,000 KRW or more, you can get up to 50,000 KRW per month with up to 5 uses per category. For example, assuming a monthly card usage of 500,000 KRW, you can get 30,000 KRW by using KakaoPay 10,000 KRW three times, convenience stores 10,000 KRW three times, Baedal Minjok 10,000 KRW three times, and Starbucks once for 10,000 KRW or more. The card annual fee is 15,000 KRW for both domestic-only and international cards.

◆Citi Card: Up to 5,000 KRW bonus discount per month even without previous month spending= The 'KakaoBank Citi Card' offers a total discount of 10,000 KRW if your previous month spending is 300,000 KRW or more, and 20,000 KRW if 600,000 KRW or more. Benefits include ▲50% discount at Starbucks (twice a month) ▲50% discount on shared bicycles (Ddareungi, T-bike) ▲25% discount on streaming services (Netflix, Melon, YouTube) ▲5% discount (up to 2,500 KRW) on payments of 5,000 KRW or more in transportation, communication, delivery apps, and convenience stores.

Also, if your monthly payment count exceeds 10 times, you get 2,000 KRW cashback, and if it exceeds 20 times, 5,000 KRW cashback, but the bonus discount excludes the total amount used in the billing discount categories and overseas transactions. Additionally, all overseas service fees are waived for all overseas payments including online. The card annual fee is 7,000 KRW for international (Visa) and 6,000 KRW for domestic-only cards.

KakaoBank and the card companies are also running an event to celebrate the launch of the credit cards, offering up to 60,000 KRW cashback. Customers who create a KakaoBank credit card and spend 60,000 to 100,000 KRW or more by July 31 are eligible. However, to receive benefits, customers must not have used the card company's cards in the past year. Since event eligibility and conditions vary by card company, detailed information should be checked.

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