Popularity of 'Character Check Cards' Rises as Postpaid Transportation Cards Allowed for Middle and High School Students

From Late April, Middle and High School Students Can Use Postpaid Transportation Check Cards
Legal Guardian Consent Required for Issuance
Available from Shinhan, KB Kookmin, Woori, NH Nonghyup Cards

[Asia Economy Reporter Ki Ha-young] Since the end of April, middle and high school students have also been able to use postpaid transportation check cards, leading to expectations that the popularity of character check cards will increase. With the issuance age for postpaid transportation check cards lowered from 18 to 12 years old, the rise of check cards exclusively for teenagers is also drawing attention.

According to the industry on the 20th, some card companies such as Shinhan and Woori Card offer check card products exclusively for teenagers. These cards, which include "TEENS" in their names, have simple benefits as the required monthly spending is low at 100,000 KRW.

The "Shinhan Card Teens Plus Pony Check Postpaid Transportation" transformed into a Minions character plate by adding postpaid transportation to the existing version. It offers a 2,000 KRW discount once a month at CGV, 50% off three times a year at Lotte World and Seoul Land, and a 5% discount on payments over 5,000 KRW at Baskin Robbins and fast food outlets. The monthly discount limit for food categories is 5,000 KRW, which is relatively high.

The "Woori Card’s Standard Cream Teens Check" provides a 1,000 KRW cashback when spending over 10,000 KRW at convenience stores, Olive Young, bakeries, fast food, and bookstores. The total monthly discount limit for all benefits is 5,000 KRW.

The "IBK Industrial Bank High Teens Check Card" offers a 500 KRW discount on payments over 5,000 KRW at convenience stores, Olive Young, bakeries, fast food, Baskin Robbins, Gongcha, and Juicy. It also provides a 1,000 KRW discount when spending over 10,000 KRW at study rooms, academies, and online bookstores. The monthly total discount limit is 2,000 KRW for monthly spending over 100,000 KRW and up to 6,000 KRW for spending over 300,000 KRW.

If the monthly spending is between 200,000 KRW and over 300,000 KRW, issuing a general check card is more advantageous. The "Woori Card’s Standard Cookie Check" offers cashback benefits such as 2,000 KRW for postpaid transportation, 2,000 KRW for Starbucks, 1,000 KRW for convenience stores and Olive Young, 5,000 KRW for movies, and an additional 1,000 KRW for simple payments when monthly spending exceeds 200,000 KRW. It also provides 1-2% cashback at overseas merchants and free access to lounges worldwide.

NH Nonghyup Card has captured consumers’ hearts with character cards by releasing the "Ryan Cheese Check Card" followed by the "Apeach Sweet Check Card." The pink plate "NH Nonghyup Apeach Sweet Check Card" offers 4% discounts at cafes including Starbucks, 4% at Olive Young and Lalavla, and 5% at YouTube Premium and Netflix when monthly spending reaches 300,000 KRW. Registering for online payments via Samsung Pay, Kakao Pay, and other simple payment methods grants a 3% discount.

KB Kookmin Card, popular with the "Pengsoo Nori Check Card," has also launched a new card for young people. Targeting Generation Z, the "KB Kookmin Wiggle Wiggle Check Check Card" offers a 1,000 KRW discount per transaction at public transportation, CU convenience stores, Starbucks, CGV, 10x10, online simple payments, Olive Young, eyeglass (lens) stores, online bookstores, and Interpark Tickets when monthly spending reaches 300,000 KRW.

Go Seung-hoon, CEO of Card Gorilla, said, "With the amendment of the enforcement ordinance allowing minors aged 12 and above to actively enter the check card market, the character check card craze that has continued since last year is expected to persist. Not only launching new products with characters but also adding character version plates to existing products will become a trend in the check card industry."