Hyundai Card is rolling out “the Pink,” a new premium credit card, the company announced on May 26.
Following “the Black,” “the Purple,” “the Red,” and ‘”the Green,” Hyundai Card’s premium series, “the Pink” is a new addition to the line-up in three years. The leading credit card issuer has chosen pink for its new card product to cater to millennials and Gen Z consumers, radiating the image of “strong, vibrant and young.” The card is backed up by a variety of benefits.
“Our latest product ‘the Pink’ shows that our premium line-up has taken another step forward,” said a Hyundai Card spokesperson. “Targeting millennials and Gen Z, ‘the Pink’ reflects the young consumers’ value on lifestyle rather than social standing, which clearly differentiates from our previously launched premium card series.”
The new credit card focuses on providing benefits for customers who enjoy premium shopping. With every purchase at all department stores in Korea, major premium shopping outlets as well as online shopping malls including SSG.COM, LotteON, and Hyundai Hmall, 5 percent of purchased price will convert into “M Points,” Hyundai Card’s own reward points that can be accumulated for later use. Also, same “M Point” benefit applies to dining at Hyundai Card’s “Gourmet Club,” which consists of 160 premium restaurants across the country.
The new premium credit card also provides M Points proportionate to the scale of monthly expenditure. It offers M Points equivalent to 1 percent of spending of 500,000 won ($443) or more; 1.5 percent of spending of 1 million won or more; and 2 percent of spending of 2 million won or more.
The M Points exclusive to “the Pink” at up to 500,000 per year may be converted into the “the Pink” vouchers (One M Point equals to 1 won). The vouchers can be used at Shinsegae Department Stores, Lotte Duty-Free Shops, selected major hotels, global shopping website (Catch Fashion), L’Occitane, Sulhwasoo SPA flagship stores, and SEPHORA stores.
First-time customers of “the Pink” card will receive welcome vouchers worth 100,000 won, which can be used at five major hotels in Korea as well as both on and offline Lotte Duty-Free Shops. Also, customers who spend over 10 million won a year may choose between 70,000 M Points and 70,000 won discount on annual membership fee in the following year.
Meanwhile, customers can choose their card plate design from four different options. With additional fee, customers may have their card issued in a special metal plate.
“The Pink” can only be issued online, and the annual fee is 150,000 won for both domestic and overseas usage.
Further details can be found at Hyundai Card’s official website and app.
Hyundai Card’s Premium Cards reflect customer income levels, spending patterns, social standing and lifestyle. “The Black” is the first invitation-only VVIP card in Korea, whereas “the Purple” focuses on customers’ quality lifestyle. “The Red” is for active and passionate younger office workers in their 30s and 40s, and “the Green” targets millennials who prioritize personality and the economic value of goods and services.