[Gi Ha-Young's Daily Card] "1 Star per 30,000 Won"... Will Starbucks Hyundai Card Be a Hit?

Hyundai Card, Starbucks Hyundai Card Launch
Earn 1 Star for Every 30,000 KRW Spent

[Asia Economy Reporter Ki Ha-young]Is there anyone these days without at least one credit card? In modern society, anyone can have a card if they want. Credit cards have brought unparalleled convenience to daily life. Now, wherever you go, you can easily see people paying with credit cards or smartphones. As demand has increased, cards with various benefits are being released almost daily. Accordingly, Asia Economy delivers various stories related to cards, which are inseparable from our consumer life, through the weekly 'Cards in Daily Life' corner, from introducing new cards to industry behind-the-scenes and guides for card beginners.

353 cups per year. This is the amount of coffee consumed by one Korean in a year. Compared to the global average per capita consumption of 132 cups annually, this is three times the world average. True to its reputation as a coffee republic, coffee discounts are always included in card benefits. Among them, Starbucks, which has a strong fan base, is where card companies compete to offer benefits. They provide up to 60% billing discounts, as well as frequent cashback or coffee coupon events.

On the 15th, Hyundai Card launched the 'Starbucks Hyundai Card,' which goes one step further by offering the 'Starbucks Stars' reward points that were previously only available to Starbucks members. This is the first of its kind in Korea, made possible because it is a Starbucks-dedicated credit card (PLCC - Private Label Credit Card).

The Starbucks Hyundai Card has an annual fee of 30,000 KRW and accumulates one Starbucks reward star for every 30,000 KRW spent on domestic and international card usage (credit sales). Benefits are provided when the previous month's usage amount exceeds 300,000 KRW. There is no limit to the number of stars accumulated, and stars are credited daily as the card is used, allowing immediate use of the accumulated stars. Notably, any accumulated amount under 30,000 KRW in a month that does not qualify for star rewards is carried over and added to the next month's eligible spending. For example, if the usage amount is 400,000 KRW in July and 370,000 KRW in August, 12 Starbucks stars (one star per 30,000 KRW) are accumulated in August, and the remaining 10,000 KRW is carried over to September.

To commemorate the product launch, a star accumulation event is also underway. Customers who use the Starbucks Hyundai Card for more than 50,000 KRW by the end of next month can enjoy 100 Starbucks stars. Considering that 12 stars at the Gold tier provide one free drink coupon, this benefit is equivalent to about eight free drinks. The free drink is one store-made beverage (tall size), excluding bottled drinks. You could enjoy a 4,100 KRW Americano or a 6,100 KRW Java Chip Frappuccino. The amount of benefit varies depending on the drink choice.

Additionally, customers who spend more than 50,000 KRW at Starbucks are automatically entered into the 'Starbucks Christmas e-Frequency Event.' Hyundai Card plans to draw 1,000 winners from the entrants and award Starbucks Christmas e-Frequency gift exchange vouchers.

The Starbucks Hyundai Card may be somewhat ambiguous to get solely for the benefits unless you are a coffee or Starbucks enthusiast. There are many cards with substantial benefits if you want to enjoy coffee at a discount. For example, KB Kookmin Card's 'KB Kookmin Cheongchundaero Toktok Card' and Lotte Card's 'Like It Fun Plus' offer up to 60% discounts at Starbucks, and Samsung Card's 'Tap Tap O' also provides up to 50% billing discounts.

Some card companies offer discount benefits through recharge events. BC Card, for instance, offers a 5,000 KRW billing discount when paying with Paybook on the Starbucks application every Wednesday until the end of this year for recharges of 50,000 KRW or more. If you recharge at least 200,000 KRW (four times or more), you get an additional 10,000 KRW billing discount. Using this event, you can enjoy discount benefits while using Starbucks' own prepaid card, which accumulates one star per drink.

However, if you start your day every morning by taking out coffee from Starbucks and are enthusiastic about Starbucks events and MD products, the Starbucks Hyundai Card will be attractive beyond just the benefits. Just looking at the card design alone will make you want to have it.