7 Out of 10 Newly Issued Credit Cards Have Annual Fees Under 30,000 Won

CardGorilla Surveyed 3,773 Consumers

It has been found that 7 out of every 10 newly issued credit cards have an annual fee of less than 30,000 won.

On May 30, credit card platform CardGorilla released the results of a survey of 3,773 consumers.

According to the survey, the largest proportion of respondents, 35.1%, selected the "between 10,000 and 30,000 won" range. Those who chose "10,000 won or less" accounted for 31.4%. In total, 66.5% of all respondents had annual fees of less than 30,000 won.

Looking at the Gorilla Chart Top 100 from January to May, cards with annual fees between 10,000 and 30,000 won were the most common, with 54 types (54.0%). Among the top 10 cards, 7 had annual fees in this range. "100,000 won or more" followed, with 22 types (22.0%).

Among major new cards released during this period, those with annual fees between 50,000 and 100,000 won made up the largest share at 35.0% (7 types). Cards with annual fees between 10,000 and 30,000 won, and those with annual fees of 100,000 won or more, each accounted for 27.8% (5 types each).

For the 105 new cards released last year, 47.6% (50 types) had annual fees between 10,000 and 30,000 won, making this the largest group. "100,000 won or more" was next, accounting for 26.7% (28 types).

Ko Seunghoon, CEO of CardGorilla, said, "Cards with annual fees of 30,000 won or less that offer living expense benefits, as well as premium cards with higher annual fees but corresponding vouchers and perks, are both very popular."

He added, "Card companies are currently launching semi-premium cards with lower annual fees compared to existing premium cards."