September Property Tax Payment Month
Card Companies Offer Interest-Free Installments and Cashback Deals
[Asia Economy Reporter Ki Ha-young] In September, the month for paying property tax, credit card companies are holding events such as interest-free installments and coffee coupon giveaways. Unlike national taxes, local taxes like property tax do not charge taxpayers a payment agency fee, so taking advantage of credit card benefits can be a practical way to save money.
According to the credit card industry on the 20th, most card companies are currently offering 2 to 8 months interest-free installments or partial interest-free installment events for national and local taxes. However, tax payments made by card are not included in the previous month's spending requirements to qualify for card benefits, so caution is needed.
Based on personal credit cards (excluding corporate and prepaid cards), NH Nonghyup Card offers 2 to 8 months interest-free installments, Hyundai and Woori Cards offer 2 to 7 months, and Shinhan, Samsung, KB Kookmin, and Hana Cards provide 2 to 6 months interest-free installments. Some card companies like Samsung and Hyundai Card also offer partial interest-free installment benefits for 10 or 12 months by reducing some installment fees.
Besides interest-free installment benefits, some card companies provide cashback or coffee coupons. KB Kookmin Card offers coffee coupons based on cumulative usage amounts for customers who apply for the event by the end of this month and pay local taxes of 300,000 KRW or more in a lump sum with a credit card. For payments between 300,000 KRW and less than 600,000 KRW, one Starbucks Americano coupon is given; between 600,000 KRW and less than 900,000 KRW, two coupons; and 900,000 KRW or more, three coupons. For check cards, customers who pay 100,000 KRW or more receive one Starbucks Caff? Latte coupon. Additionally, customers who pay 300,000 KRW or more in local taxes during the period will be entered into a draw to win Samsung Electronics Galaxy Z Fold3 (10 winners), Samsung Electronics Galaxy Z Flip3 (10 winners), Dyson Airwrap (10 winners), or 50,000 KRW cashback (300 winners).
Samsung Card also offers two Starbucks Americano mobile coupons to customers who pay 300,000 KRW or more in national or local taxes in a lump sum with Samsung Card via the 'Tax Lump Sum Payment Benefit' link on their website or app until the end of this month.
During the same period, Woori Card gives one, two, or three Starbucks Americano coupons for lump sum local tax payments of 500,000 KRW, 700,000 KRW, or 1,000,000 KRW or more, respectively. Additionally, customers who pay 500,000 KRW or more in local taxes in a lump sum and spend 500,000 KRW or more outside of local taxes can enter a draw to receive a 20,000 KRW Baedal Minjok mobile coupon (1,000 winners).
Shinhan Card offers a 0.17% cashback in cash for local tax payments made with a check card until the end of this month. However, if the cashback amount is less than 10,000 KRW, it will be credited as My Shinhan Points.
There are also cashback events targeting specific customer groups. Hyundai Card provides billing discounts of 3,000 KRW, 10,000 KRW, and 20,000 KRW for local tax payments of 300,000 KRW, 1,000,000 KRW, and 2,000,000 KRW, respectively. Shinhan Card offers cashback of 7,000 KRW, 15,000 KRW, and 20,000 KRW for local tax payments of 1,000,000 KRW, 3,000,000 KRW, and 5,000,000 KRW, respectively, for My Shop benefit customers.
Meanwhile, property tax is a tax imposed every year on June 1st based on ownership of land, buildings, houses, aircraft, and ships, and is levied in July and September. In July, 50% of the tax on houses (all if the tax amount is 200,000 KRW or less) and taxes on buildings, aircraft, and ships are charged, while in September, the remaining 50% of house tax and land tax are levied.
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