[Gi Ha-yeong's Everyday Card] "Reissue with the Same Number," "Payment Date at Your Convenience"... Useful Services to Know

Hyundai Card Launches Card Number Retention Reissuance Service
Shinhan's 'Puzzle Card' Introduces Payment Cycle Management and Previous Month Spending Carryover Service

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

"Isn't it possible to pay the monthly usage amount on any day I want, from the 1st to the end of the month? If a limited edition card is released, can it be reissued with the same card number?"

When using cards, you probably have one or two wishes for services you hope would be available. Card companies are reflecting such customer opinions and introducing new services. We have summarized useful card company products and services released this year.

Shinhan Card 'Puzzle Card', Pay Monthly Usage on Desired Date

Shinhan Card launched the 'Puzzle Card' at the end of October, introducing the industry's first 'Payment Cycle Management Service' and 'Previous Month Usage Carryover Service,' which allow customers to be billed for the amount used from the 1st to the end of the month on their preferred payment date.

Credit cards let you use your credit to spend money in advance without cash and repay it all at once on a set date, so the billing period changes depending on the payment date. In fact, most full-service card companies designate the 14th as the payment date, allowing payment for usage from the 1st to the end of the previous month. This applies to Shinhan, Samsung, KB Kookmin, Lotte, and Woori Cards, while Hyundai Card sets it on the 12th and Hana Card on the 13th.

Paying for usage from the 1st to the end of the month makes it easier to check whether the previous month's spending requirements are met or to understand the monthly usage amount. However, some may find the fixed date inconvenient. For example, if your payday is the 25th and you want the payment date to be the 25th, but the payment date is set to the 14th to pay for usage from the 1st to the end of the month, the card amount from the previous month will be deducted only after 20 days of receiving your salary.

The Puzzle Card allows you to select a payment date between the 14th and 27th, and regardless of the payment date, it bills for the amount used from the 1st to the end of the previous month. This expands the range of payment dates customers can choose from. Also, through the previous month usage carryover service, if you spend over 700,000 KRW in the previous month, 200,000 KRW of usage is carried over to the next month. For example, if you spend 900,000 KRW in September and 400,000 KRW in October, 200,000 KRW of the September usage is carried over to October, making the October usage recognized as 600,000 KRW.

Hyundai Card, Credit Card Reissuance Without Changing Card Number

Hyundai Card introduced the 'Card Number Retention Reissuance' service in October, the first in Korea, allowing credit cards to be reissued without changing the card number. Individual credit card members can apply through the Hyundai Card application (app) or customer center, and once a year, they can be reissued with the same card (for domestic and international cards, the same international brand) as the existing card.

Previously, when reissuing a card, even if it was the same card, the card number changed, causing inconvenience as you had to re-register the card for regular payments like apartment utility bills and for simple payment services like Naver Pay and Samsung Pay. This service resolves such inconveniences.

Of course, in cases of loss or theft, the card number is changed for safe card use. This service is expected to be useful when you want to reissue a card due to limited edition card plate designs or simple damage like card scratches. It allows you to experience various card designs without changing the card number.

The reissuance fee for a regular plate is 5,000 KRW, with the first reissuance fee waived. The reissuance fee for a metal plate is 100,000 KRW. Hyundai Card plans to launch the 'Card Number Retention Renewal' service early next year, which will allow card numbers to be retained when renewing the same card after the expiration date.