Shinhan Card Launches 'MyTeens' Family Credit Card for Middle and High School Students... Monthly Limit of 100,000 KRW

Family credit cards for children aged 12 and over, parents can apply online
Monthly limit 100,000 KRW, restrictions on industries such as transportation, academies, bookstores, etc.

[Asia Economy Reporter Ki Ha-young] Shinhan Card announced on the 14th that it has launched 'Shinhan Card My TeenS,' a family credit card for minors aged 12 and above.

The Shinhan My TeenS Card is a family credit card exclusively for middle and high school students aged 12 and above, issued upon application by parents via mobile or online channels. After issuance, the card can be registered on Shinhan Paypan and used conveniently both online and offline without the physical card.

This card limits the monthly spending limit and per-transaction limit to 100,000 KRW and 50,000 KRW respectively, and restricts usage to specific categories such as transportation, stationery/bookstores, convenience stores, and academies. This is to prevent misuse or abuse of the card by minor children in advance. However, if applied for by parents, the maximum monthly limit can be increased up to 500,000 KRW. Additionally, in case of card theft or loss, either the parent or the child can request to suspend the card.

Youth discounts are automatically applied when using public transportation, and when used at GS25 convenience stores, GS&Point accumulation and GS Pop services are provided without the need to launch a separate application or generate a barcode. In particular, depending on the previous month's usage, middle and high school students are provided with mobile gifticons worth 2,000, 4,000, or 6,000 KRW that can be used immediately at GS25 convenience stores.

The card design offers a choice among three images: the futuristic digital graphic 'Metaverse,' the sweet and relaxing 'Macaron,' and the simple yet luxurious 'Aurora' featuring a gradient effect.

A Shinhan Card official stated, "Shinhan My TeenS Card was selected as an innovative financial service by the Financial Services Commission in January, recognized for allowing minor children to experience small financial transactions through a family card and improving the practice of parents transferring or lending their cards to children." He added, "Among the 10 innovative financial services selected, seven, including the Shinhan My TeenS Card, have been commercialized, leading financial innovation in line with the financial authorities' policy to promote innovative finance."

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