Seoul City Bus Fare Increased by 300 Won from August 12
Expanded Benefits for Altteul Transportation Card...Save Up to 20%
Everyday Benefits Including OTT Subscription and Communication Fee Discounts
Starting in August, as public transportation costs such as buses and subways are rising one after another, attention is focusing on a type of policy product called the 'Altteul Transportation Card.' This is because the product offers greater public transportation discounts compared to existing credit and debit cards, as well as discounts in various everyday areas such as online streaming services (OTT).
On the 31st, 'Card Gorilla,' the largest credit card platform in Korea, revealed that Altteul Transportation Cards issued by various card companies surged in the July credit card rankings based on product views and application conversion rates. Shinhan Card’s Altteul Transportation Card ranked highest, jumping 23 places from the previous month to 20th place. Woori Card’s Altteul Transportation Card also rose 33 places to 49th. KB Kookmin Card’s 'Altteul Transportation Plus Card (99th)' climbed an astonishing 948 places, entering the top 100 for the first time.
The Altteul Transportation Card is a project where the government and local governments provide public transportation subsidies to all citizens in the form of mileage. When using public transportation, mileage up to 20% is awarded proportionally to the distance walked or traveled by bicycle (up to 800 meters), and card companies provide an additional discount of about 10%. As local governments are raising public transportation costs one after another starting next month, and the government increased Altteul Transportation Card benefits this month, interest has grown even more.
Seoul City decided to raise bus fares by 300 won starting August 12. Subway fares will also increase by 150 won from October 7. Gyeonggi Province will raise subway fares by 150 won from the same period. Incheon City plans to raise city bus fares by 250 won starting on the same day.
In response, the government increased the monthly mileage accumulation frequency for the Altteul Transportation Card from 44 times to a maximum of 60 times starting this month. Accordingly, the maximum monthly mileage that can be refunded in cash increased from 48,000 won to 66,000 won. If the limit is fully utilized, transportation costs can be saved by about 20%.
Moreover, if additional discounts on public transportation usage amounts are applied by each card company, costs can be saved even more. Currently, 11 companies including Shinhan, Woori, Hana, Lotte, T-money, DGB, KB Kookmin, NH Nonghyup, BC, Samsung, and Hyundai Card have launched Altteul Transportation Cards. Among these, many products offer an additional 10-15% discount on public transportation costs. BC Card’s ‘BC Baro Altteul Transportation Plus Card’ has the lowest annual fee among the Altteul Transportation Cards at 6,000 won (7,000 won for overseas use), but offers the highest public transportation discount rate of 15% (up to 5,000 won per month). Samsung Card’s 'Altteul Transportation Plus Samsung Card' offers a 10% discount not only on public transportation but also on taxi fares.
Furthermore, Altteul Transportation Cards that provide discounts in everyday areas are also emerging. KB Kookmin Card’s 'Altteul Transportation Plus Card' offers a 10% discount on public transportation as well as 5% discounts in areas such as telecommunications, coffee shops, convenience stores, and movies. The 'BC Baro Altteul Plus Transportation Card' also provides a 15% discount on OTT subscription fees.
An industry insider explained, "Since the Altteul Transportation Card was launched in 2019, it was estimated that last year, users saved about 13,369 won per person per month on transportation costs," adding, "Given the economic slowdown and rising prices, more customers are expected to seek practical benefits through the Altteul Transportation Card."
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