IBK Industrial Bank Launches Three Types of 'IBK Point Cards'... Earn Up to 6.5% Rewards

IBK Industrial Bank announced on the 23rd the launch of three types of ‘IBK Point Cards’ that accumulate IBK Points, the bank’s own points. The IBK Point Cards consist of three types: ‘IBK Point 3.8 (Credit)’, ‘IBK Point (Credit)’, and ‘IBK Point (Check)’.

The IBK Point 3.8 card accumulates 1.5% of the amount spent at all domestic and overseas merchants without a monthly limit when spending exceeds 500,000 KRW in the previous month. Additionally, it offers extra accumulation benefits of 5% for overseas merchant spending (monthly limit of 15,000 points), and 0.5% for domestic online shopping (Coupang, Gmarket, Auction, 11st) spending (monthly limit of 10,000 points), allowing up to 6.5% accumulation.

The IBK Point Card accumulates points at different rates based on the amount spent per transaction, with a monthly limit of 50,000 points when spending exceeds 500,000 KRW in the previous month: ▲ less than 100,000 KRW at 0.6%, ▲ 100,000 to less than 300,000 KRW at 0.8%, ▲ 300,000 to less than 700,000 KRW at 1.1%, ▲ 700,000 to less than 1,000,000 KRW at 2.2%, and ▲ 1,000,000 KRW or more at 3.3%.

The IBK Point (Check) Card accumulates 0.2% of the amount spent without any previous month spending requirement or monthly limit. It also offers an additional 6% accumulation on coffee merchant spending (monthly limit of 5,000 points when spending exceeds 200,000 KRW in the previous month, and 8,000 points when spending exceeds 500,000 KRW), reflecting the needs of customers with high coffee demand.

Accumulated IBK Points can be used for card payment deductions, cash back, and purchasing mobile gifticons within the IBK Card app.

The annual fees are 37,000 KRW for IBK Point 3.8 domestic-only (BC), 38,000 KRW for domestic and overseas use (MASTER, VISA), and 21,000 KRW for IBK Point Card domestic-only (BC), 22,000 KRW for domestic and overseas use (MASTER, VISA). The IBK Point Check Card domestic-only (BC) has no annual fee.

An IBK Industrial Bank official stated, “We developed these cards reflecting diverse consumption patterns and needs through multiple customer surveys,” and added, “We will continue to develop card products that reflect our customers’ voices.”