SC First Bank Launches 'Reward W Credit Card' with Savings and Discount Benefits Added

[Asia Economy Reporter Minyoung Kim] SC First Bank announced on the 20th that it has launched the ‘RewardW Credit Card,’ which combines reward benefits with discounts, and the ‘RewardW Check Card,’ which offers point accumulation and free airport lounge access.

The RewardW Credit Card provides up to 2.5% of 360 Reward Points based on the previous month’s spending, regardless of whether the merchant is domestic or international. Additionally, it offers a 1,000 KRW billing discount when spending over 10,000 KRW up to five times per month at Netflix, taxis, and Starbucks.

The 360 Reward Points for the credit card accumulate from 0.5% (with no accumulation limit) to 2.5% (monthly accumulation limit of 25,000 points) depending on the previous month’s spending, ranging from less than 500,000 KRW to over 2,500,000 KRW. If the accumulation limit is exceeded, an additional 0.5% of the excess amount is accumulated as points without any limit.

The billing discount benefit applies at Netflix, taxi, and Starbucks merchants, with the total number of discount uses determined by the previous month’s spending. If the previous month’s spending is between 500,000 KRW and less than 1,500,000 KRW, two discounts are available; between 1,500,000 KRW and less than 2,500,000 KRW, three discounts; and 2,500,000 KRW or more, up to five discounts. The 1,000 KRW billing discount applies only when spending over 10,000 KRW. For cards issued under the Mastercard brand, if the previous month’s spending is over 500,000 KRW, the cardholder can use a domestic airport lounge once for free during the month (offered once annually).

RewardW Check Card points accumulate up to 0.6%. When spending less than 300,000 KRW in the previous month, 0.2% is accumulated; between 300,000 KRW and less than 700,000 KRW, 0.3%; and 0.4% for 700,000 KRW or more.

To commemorate the card launch, the bank is holding an event until the end of June that refunds 100% of the annual fee (up to 10,000 KRW) as a billing discount. To receive this benefit, customers must apply for the card via SC First Bank’s mobile banking or internet banking and spend at least 100,000 KRW domestically by the end of the month following the card issuance.

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