MG+S Credit Card Sparks Frenzy: 42,000 applications in Two Weeks, Online issuance Halted
Seoul, South Korea – The newly launched “MG+S Credit Card,” a collaboration between Saemaul Undong and Hana card, has taken the market by storm, attracting an overwhelming 42,000 applications within its first two weeks. The card’s immense popularity has led to a halt in online issuance,forcing eager customers to visit physical branches in person,even amidst sweltering summer temperatures.
The buzz surrounding the MG+S Credit Card is largely attributed to its exceptional cashback and discount benefits. Cardholders spending over 1 million won monthly can receive a significant 60,000 won cashback,possibly totaling 720,000 won annually. Furthermore, the card offers a 10% discount on simple payments through platforms like Naver Pay and Kakao Pay, and a generous 50% discount on popular OTT services such as Netflix and YouTube.
this surge in demand, notably from younger demographics drawn to the digital-centric benefits, has significantly increased foot traffic at Saemaul Undong branches. one applicant,Mr. Park (32), shared his experience: “I applied for the MG+S credit card, but the applicant queue was so long it took about two weeks just to get it delivered.”
To further incentivize new customers and account holders, Saemaul undong is offering additional perks.Investment members who obtain the MG+S credit card by October and spend over 100,000 won within the month will receive a cashback of their annual fee. An extra 17,000 won cashback is also available for payments made through a Saemaul Undong account, with minimum investment amounts starting as low as 20,000 won.
An official from Saemaul Undong noted the important influx of first-time customers, highlighting the card’s success in attracting a new segment of users to their services. The overwhelming response underscores the strategic appeal of the MG+S Credit Card, effectively leveraging digital benefits to drive both card applications and broader customer engagement.
