Annual fee: 25,000 won
Monthly discount cap: up to 40,000 won
BC Card has teamed up with K bank to launch the "Hidden Card," a new credit card offering a 6% discount on online simple payments, the company announced Wednesday.
The Hidden Card is a private-label credit card targeting consumers in their 20s to 40s who spend primarily online and on mobile, as well as existing K bank customers. It concentrates its discount benefits on three major simple payment services: Naver Pay, Kakao Pay and Coupang Inc.
Cardholders who spent at least 400,000 won ($291) the previous month receive a 6% discount on individual transactions of 10,000 won or more made through the three payment services online. The discount is capped at 3,000 won per transaction.
The monthly combined discount limit varies by prior-month spending. Customers who spent at least 400,000 won the previous month can receive up to 10,000 won in monthly discounts; those who spent at least 1 million won, up to 30,000 won; and those who spent at least 1.5 million won, up to 40,000 won. Payments at overseas merchants — both online and in person — receive a 2% discount with no prior-month spending requirement or discount cap.
Domestic purchases of 50,000 won or more are eligible for interest-free installment plans of two to three months on a permanent basis. The international version of the card includes Mastercard Platinum-tier benefits as standard, though issuer-selected services such as hotel and airport valet parking and airport lounge access are not included. The annual fee is 25,000 won for both the domestic-only and international versions.
To mark the launch, BC Card is running a promotional event through Oct. 31 in which Hidden Card users receive a 500-won discount per transaction of 10,000 won or more at restaurants. The discount applies up to 10 times per month — for a maximum of 5,000 won — with no prior-month spending requirement.
First-time Hidden Card holders who use K bank's Plus Box savings product will receive a 2% preferential interest rate coupon the day after their card application is approved. Starting the month after issuance, monthly interest rate coupons will be provided based on prior-month card spending: 1% for spending of at least 500,000 won and 2% for spending of at least 1 million won.
The preferential rate coupons are valid through Dec. 31 this year and apply to Plus Box balances between 5 million won and 15 million won.
"The Hidden Card was designed to concentrate benefits on the simple payment services customers use most, delivering meaningful discounts," said Kim Min-kwon, BC Card Executive Vice President and Head of the Card Business Division. "We will continue working with K bank to provide financial services that reflect what customers need."
The Hidden Card is the second product BC Card has launched by linking its proprietary Baro Card line with K bank's customer channels. BC Card plans to keep expanding its cooperation with K bank in finance and payments while leveraging the strengths of both companies to deliver practical benefits to digitally active customers.
won@heraldcorp.com
