Amid Expectations for Resuming Overseas Travel... Focus on Mileage Benefit Cards

Mileage Recharge Service - New Cards and More Unveiled One After Another

[Asia Economy Reporter Yu Je-hoon] As the COVID-19 pandemic transitions into an endemic worldwide, expectations for the resumption of overseas travel are growing. Accordingly, the credit card industry is also launching services and products specialized in airline mileage one after another.

According to the credit card industry on the 26th, Hyundai Card recently launched the industry's first 'Mileage Emergency Recharge Service' that allows immediate accumulation of Korean Air mileage. This service enables Hyundai Card members to first use the required mileage for recharge and then repay it with mileage accumulated by using the Korean Air card, a private label credit card (PLCC).

This service is available to anyone who holds or newly issues a Korean Air card. Members can choose to recharge either 10,000 or 20,000 mileage points, which will be credited to the customer's Korean Air Skypass account within three days from the application date. The mileage used for recharge is automatically repaid monthly with mileage accumulated based on the member's Korean Air card usage amount. Repayment details and outstanding balances can be checked anytime via the Hyundai Card application. The contract period is one year regardless of the recharged mileage, and early termination occurs if repayment is completed within the contract period.

At the beginning of this month, Lotte Card introduced the 'Amex Platinum Asiana Club Lotte Card,' which offers Asiana Club mileage accumulation benefits at domestic and overseas merchants. This card features a maximum accumulation of 3 mileage points per 1,000 KRW through basic and special accumulation benefits.

First, it provides a basic accumulation of 1 mileage point per 1,000 KRW spent at all domestic and overseas merchants. Additionally, special accumulation benefits add 0.5, 1, 2, and 2 mileage points per 1,000 KRW spent at domestic merchants, domestic lifestyle sectors (large marts/fuel), overseas merchants, and when paying for Asiana airline tickets, respectively. Customers can accumulate 1.5 mileage points per 1,000 KRW at domestic merchants, 2 mileage points per 1,000 KRW in domestic lifestyle sectors, and 3 mileage points per 1,000 KRW when paying at overseas merchants or purchasing Asiana airline tickets through Asiana.

Also, when issued under the Amex (AMEX) brand, the card provides free access to domestic and international airport lounges twice a year. Both uses count if accompanied by a companion. The basic and special accumulation benefits and free airport lounge access service are provided when the usage amount in the previous month is 500,000 KRW or more. Special accumulation benefits are available only for the Amex brand until December 31 of this year and will be announced in advance if extended. The special accumulation limit is up to 2,000 mileage points per month.

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