2024.07.14 (일)

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Citibank launches “Citi Check+Credit Card” that puts together high income deduction and credit payment function

[By NBC-1TV H. J Yook]Citibank Korea (CEO Ha Yung-Ku, www.citibank.co.kr) launched September 2 “Citi Check+Credit Card” that combines high income deduction benefit of check card with the credit payment function.

“Citi Check+Credit Card” is a hybrid card that provides the benefits of both check card and credit payment up to the customer’s credit line. What makes the card attractive is that its check card feature helps customer spend money responsibly while the credit card feature lessens the burden on account balance that could arise from using a check card. If customer wants to add the credit function, it costs only KRW 2,000 for annual fee which is much cheaper than other existing credit cards. For customer selecting only the check card option, there is no annual fee.

“Citi Check+Credit Card” is available in two types so that customer can make a choice based on customer’s consumption pattern. As for ‘Balance Payment Type’, if the transaction amount is within the balance of linked account, the payment is made with check card function, and if over the balance, the payment is made with credit card function. For ‘Designated Debit Limit Type’, if the transaction amount is within the pre-set check card payment limit, the payment is made with check card function, and if over the limit, the payment is made with credit card function.

Besides, post-paid transportation functionality can be added to the card, while various discount benefits are available within the monthly combined discount limit (up to KRW 20,000) based on the prior month spending- i.e. 5% DC on international purchase, 5% DC on lunch bill, 10% DC at convenient store and café, 10% DC on public transportation, etc.

Also, the international cash withdrawal function can be installed to enable convenient cash withdrawal in local currency from Citibank ATM or affiliated ATM while staying overseas.

“Whereas most hybrid cards currently available in the market grant only small amount credit limit around KRW 300,000 in addition to check card function, ‘Citi Check+Credit Card’ allows to use the credit line granted to individual customer setting itself apart from other products. Moreover, the card can be loaded with ICC function. That is we’re introducing a card that provides triple functions of ‘Check card+Credit card+International Cash Card’.



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