[Ki Ha-young's Life Card] 150x Increase in Users in One Year... What Is Hyundai Card's '3-Layer System'?

Hyundai Card 3rd Floor System
1st Floor Basics · 2nd Floor Subscriptions · 3rd Floor Gift Benefits
Users Surge to 300,000 in One Year

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. In response, Asia Economy delivers diverse stories related to cards, which are inseparable from our consumer life, through the weekly 'Cards in Daily Life' corner, including introductions of new cards, industry behind-the-scenes, and guides for card beginners.

Hyundai Card has expanded the target of its unique card benefit system, the '3-layer system,' to all members starting this year. Last year, the service was piloted for about 18 card types, but now it has been extended to 73 types and 8.5 million members. Although the system may be somewhat unfamiliar, knowing about it allows you to enjoy benefits exceeding the annual fee and increase satisfaction in your consumer life.

The 3-layer system literally means you can receive card benefits on three layers. The 'basic benefits' of the card you hold are the first layer. The second layer offers 'subscription benefits' tailored to your lifestyle, and the third layer is where you receive personalized monthly discount services and coupons as 'gifts.' In other words, you can enjoy three personalized benefits with one card.

Hyundai Card '3-layer system'… Basic benefits on 1st layer, subscription benefits on 2nd, gifts on 3rd

Let's look at the case of Kim Hyun-woo (pseudonym), a single office worker in his mid-30s who spends about 1.2 million KRW per month using the 'Hyundai Card the Red.' The Red card is a premium card with an annual fee of 300,000 KRW. As a first-layer basic benefit, it offers vouchers worth about 200,000 KRW for travel and shopping, and 1.5 times M Points accumulation when spending over 1 million KRW. Mr. Kim spends over 1 million KRW monthly, accumulating 20,000 M Points, which amounts to 240,000 M Points annually. Through events, he converts all vouchers into 200,000 M Points, accumulating 440,000 M Points yearly, enjoying benefits exceeding the annual fee.

Also, Mr. Kim, who enjoys drinking alone, purchases the 'Traditional Liquor Pack' as a second-layer subscription benefit. The Traditional Liquor Pack includes 2-3 bottles of traditional liquor that change monthly, a storytelling card, and simple snacks in the regular option, costing 105,000 KRW for a 3-month subscription. This is about 35,000 KRW per month, approximately 17% cheaper than buying separately. Additionally, Mr. Kim uses the 'Shaving Pack,' which delivers German 5-blade razors, shaving gel, and aftershave every 8 weeks. This premium option costs 49,900 KRW for 24 weeks and provides a razor starter kit.

Regarding the third-layer gift benefits, Hyundai Card offers personalized benefits through its 'Data Science.' Mr. Kim receives two 5% discount coupons for department stores usable monthly, a 5,000 KRW billing discount at Costco online mall, and a 50,000 KRW discount plus 50% M Points usage coupon for speaker products at the Points Mall, all free of charge. The third-layer gifts can be used free of charge by simply applying through the Hyundai Card application regardless of monthly spending performance, and they can be combined with existing benefits.

Currently about 300,000 users… Subscription benefits continuously added

About 300,000 people currently use Hyundai Card's 3-layer system. Compared to the initial launch when only about 2,000 customers applied, this is a 150-fold growth in one year. About 25% of eligible members use the third-layer gift service. Especially, subscription benefits are continuously being added to reflect the latest trends. In addition to existing shopping, pet, travel, shaving, and dental packs, the 'Phone Care Pack,' a smartphone damage compensation care service, was added on the 1st of this month, and the 'Tea Pack' is scheduled to be launched on the 8th.

If you are struggling with mediocre card benefits, Hyundai Card's 3-layer system is a useful service that allows you to get more personalized benefits as much as you know. It not only offers monetary benefits but also increases satisfaction by matching consumption to your lifestyle. However, if you are not interested in subscriptions, it may be difficult to fully enjoy the three benefits emphasized by Hyundai Card. Also, although personalized benefits are recommended and gifted through data, if your spending increases because of the benefits, you should reconsider the meaning of that 'gift.'