[Ki Ha-young's Life Card] Starbucks vs Coffee Bean, Which PLCC Should You Get?

Starbucks Hyundai Card, Earn 1 Star per 30,000 KRW
KB Kookmin Coffee Bean Credit Card, Up to 28,000 KRW Monthly Discount

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. In response, Asia Economy delivers diverse stories related to cards?ranging from introductions of new cards, industry behind-the-scenes, to guides for card beginners?through its weekly 'Cards in Daily Life' corner, covering topics inseparable from our consumer lifestyle.

353 cups per year. This is the annual coffee consumption in Korea (based on 2018 data from Hyundai Research Institute). It is about three times the global average coffee consumption, meaning Koreans drink coffee almost every day. According to market research firm Euromonitor, Korea's coffee shop (cafe) market ranked third in the world in 2019, following the United States and China. The average annual spending per person at cafes is also about 104,000 KRW, ranking third globally.

Targeting this demand, the card industry offers various discounts at coffee shops. In particular, Private Label Credit Cards (PLCC) have been launched to provide customized benefits for loyal customers of Starbucks and Coffee Bean. KB Kookmin Card introduced the 'Coffee Bean Credit Card' last month, which offers up to 28,000 KRW discount per month at Coffee Bean. Hyundai Card launched the 'Starbucks Hyundai Card' in October last year, providing star point rewards previously available only to Starbucks members. Since the benefits of the two cards differ, a simple comparison is not possible, but coffee enthusiasts and fans of each brand might consider issuing one as a supplementary card.

Starbucks Hyundai Card, 1 Star per 30,000 KRW Spent

The 'Starbucks Hyundai Card,' launched by Hyundai Card in collaboration with Starbucks, features the accumulation of one Starbucks Reward star for every 30,000 KRW spent using the card. Previously, star accumulation was only available to Starbucks members using Starbucks prepaid cards, but now it is possible with a credit card.

The benefit is provided when the previous month's spending exceeds 300,000 KRW. There is no limit to the number of stars that can be accumulated, and stars are credited daily as the card is used, allowing immediate use of the accumulated stars. Notably, any accumulated amount under 30,000 KRW in a month that does not qualify for star rewards is carried over and added to the eligible spending amount for the next month. For example, if spending is 400,000 KRW in July and 370,000 KRW in August, 12 stars (one star per 30,000 KRW) are credited in August, and the remaining 10,000 KRW is carried over to September. The annual fee is 30,000 KRW.

KB Kookmin Coffee Bean Card, 3,000 KRW Discount on Payments Over 5,000 KRW

KB Kookmin Card's first-ever 'Coffee Bean Credit Card' offers a 3,000 KRW discount when paying 5,000 KRW or more per transaction at Coffee Bean, provided the previous month's spending is at least 500,000 KRW. The discount is available once per day, up to three times per month for spending over 500,000 KRW, and up to six times per month for spending over 1,000,000 KRW.

There is also a recharge discount. If the previous month's spending is at least 500,000 KRW, a 5,000 KRW discount is applied when recharging 30,000 KRW or more to the Coffee Bean card. This recharge discount can be used once per day, up to twice per month. If you spend over 7,000,000 KRW annually with this card, you receive a 10,000 KRW Coffee Bean mobile coupon once a year. In other words, if the previous month's spending is over 500,000 KRW, you can get a total discount of 19,000 KRW, and if over 1,000,000 KRW, a total of 28,000 KRW discount when drinking coffee at Coffee Bean.

Additionally, if the previous month's spending is over 500,000 KRW, you can get a 5% discount on payments of 10,000 KRW or more in eight daily life-related sectors. These eight sectors are ▲convenience stores ▲pharmacies ▲family restaurants ▲fast food outlets ▲gas stations/charging stations ▲academies ▲hair salons ▲golf courses/golf practice ranges. The discount benefit is up to 10,000 KRW per month for spending over 500,000 KRW, and up to 20,000 KRW per month for spending over 1,000,000 KRW. The annual fee is 20,000 KRW.

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