Samsung Card Opens 'Cheongsonyeon Family Card' Service

Parents Set Card Usage Limits for Minor Children (Ages 12 to 18)

[Asia Economy Reporter Ki Ha-young] Samsung Card announced on the 28th that it has launched the 'Youth Family Card' service, which allows parents to set credit card usage limits for their minor children (ages 12 to 18) and issue credit cards to them.

The Youth Family Card can be applied for remotely by parents who are Samsung Card members through the Samsung Card website or application (app). After verifying the parent's identity, selecting the card product to be issued to the child, entering the child's information, and completing mobile phone authentication, the card issuance is completed after a call screening process.

Parents can set the child's family card usage limit up to a maximum of 500,000 KRW per month within their own credit card usage limit. Children can use the card in industries such as transportation, convenience stores, stationery stores, academies, and bookstores.

Samsung Card designated six products eligible for the 'Youth Family Card' to broaden customers' choices to use products with desired benefits. The eligible products are 'Samsung Card 3 V4', 'Samsung Card 4', 'Samsung Card 4 V4', 'Samsung Card 4 V4 (Points)', 'Samsung Card & Basic', and 'Samsung Card & Points'. If the parent and child use the same card product, the family card annual fee is waived. Additionally, financial education video content will be provided to card applicants.

This service was designated as an innovative financial service by the Financial Services Commission in January.

A Samsung Card official said, "Through the Youth Family Card, parents can conveniently and safely manage their children's spending, and children are expected to develop sound consumption habits," adding, "We plan to continuously discover innovative services that provide convenience to customers."

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