Card points scattered across multiple credit card companies can now be inquired at once, converted into cash, and stored in a bankbook.
On the 5th, the Financial Services Commission announced on the 5th that it has started a service that allows you to search all card companies’ points on the credit card point integrated inquiry website and smart device app, transfer them to a designated account at once, and even withdraw money. When the service started, users crowded, and the server was once down.
In the meantime, in order to find the points accumulated on various cards with cash, you had to install all apps for each card company and go through the self-verification process. An official from the Financial Services Commission said, “I expect that you can easily spend points that are not used with a single app, so that you can easily spend a lot of points.”
On the integrated inquiry screen, users can find out the expected expiration amount and expiration time, along with the points for each card held by users. The point monetization service includes 8 credit card companies in all industries including Shinhan KB Kookmin Samsung Hyundai Lotte Woori Hana BC, as well as Nonghyup City Post Office. Points that can be deposited by account are the representative points for each card company.
The cash rate of card points is 1 won per point, and you can apply for account deposit from 1 point. Shinhan My Shinhan Point, KB Kookmin Point Lee, Samsung Bonus Point, and Lotte LPOINT. However, for Hyundai Card, 1 point is not 1 won for M points. You need to convert M points to H coins, and the exchange ratio is 1.5 to 1. When you apply for an account transfer of points, it will be processed immediately.
A service that allows you to cash out card points at once can also be used in the KFTC Account Info app. Through the AccountInfo app, you can change or cancel the payment method by credit card with another card. For the first time, only three mobile communication companies such as SK Telecom, KT, LG U+, etc. are allowed, but by the end of this year, it will be applied to electricity bills, school banking, four major insurance, and administrative expenses.
Reporter Park Jong-seo [email protected]
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