Shinhan Card Launches PLCC with SK Rent-a-Car... "Deposit Long-term Installment Payment"

Deposit Long-Term Installment Payment and Up to 30,000 KRW Monthly Rental Fee Discount Included

[Asia Economy Reporter Ki Ha-young] Shinhan Card is partnering with SK Rent-a-Car to launch a private label credit card (PLCC) aimed at capturing the rental car market. By offering specialized benefits such as deposit long-term installment plans and rental fee discounts, it is expected to receive strong responses from MZ generation customers who have high demand for rental cars.

On the 25th, Shinhan Card announced the launch of the exclusive PLCC 'SK Rent-a-Car Shinhan Card My Car' in collaboration with SK Rent-a-Car. The SK Rent-a-Car card allows customers to pay the deposit, which is usually paid in cash for long-term rental contracts, by card. This card offers the advantage of reducing initial cost burdens as SK Rent-a-Car online direct contract customers can use long-term installments of 24 or 36 months at an annual interest rate of 4.9%.

Additionally, customers who pay rental fees monthly with this card receive rental fee discount benefits. Customers using deposit installments can get a discount of 15,000 KRW if their previous month's spending is less than 1.2 million KRW, and a 30,000 KRW discount if spending exceeds 1.2 million KRW. Even if not using deposit installments, customers can receive a 5,000 KRW discount if their previous month's spending is less than 1.2 million KRW, and a 20,000 KRW discount if it is 1.2 million KRW or more.

The annual fee is 27,000 KRW for domestic use only and 30,000 KRW for overseas brands (Mastercard).

To commemorate the card launch, both companies have prepared promotions. First, for one year after the card launch, customers who contract an eco-friendly electric vehicle and pay rental fees automatically with the SK Rent-a-Car card will receive an additional 10,000 KRW discount on top of the basic card benefits if they meet the previous month's spending requirements during the automatic payment period. Customers using deposit installments can receive up to 40,000 KRW monthly in rental fee discounts.

Furthermore, until June 30, an event is being held offering customers who pay rental fees automatically with the SK Rent-a-Car card the benefit of 'first month rental fee free (up to 600,000 KRW)'.

A Shinhan Card official stated, "With changing perceptions of vehicle ownership and the continuous release of electric vehicle models centered on eco-friendly cars, the domestic long-term rental car market is expected to steadily grow focusing on eco-friendly vehicles. Going forward, we will lead the spread of eco-friendly cars in connection with Shinhan Financial Group's 'Zero Carbon Drive' and simultaneously expand environmentally friendly businesses."

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