“Pay by card and your parking account rate jumps” ... K Bank boosts benefits of its “Hidden Card”

[Financial News] K Bank is expanding its customer reach by linking card spending to preferential rates on its parking account. Partnering with BC Card, it has launched its second private-label credit card (PLCC), “Hidden Card,” and is moving into the credit card market after its flagship debit card, the ONE Check Card.
According to financial industry sources on the 2nd, K Bank launched the Hidden Card with BC Card last September.
In line with consumer trends centered on online payments, customers can get 6% off online purchases made through NAVER Pay, Kakao Pay and Coupang Pay, and 2% off overseas purchases. The monthly discount cap is up to 10,000 won for customers with at least 400,000 won in spending the previous month, 30,000 won for those with at least 1 million won, and 40,000 won for those with at least 1.5 million won.
One strength of the Hidden Card is its link to K Bank’s deposit products. When customers get the Hidden Card for the first time, they receive a coupon for a preferential rate of 2 percentage points per year on the Plus Box parking account. Customers who spend at least 500,000 won in the previous month receive an additional coupon each month for 1 percentage point per year, while those who spend at least 1 million won receive a coupon for 2 percentage points per year.
Hidden Card users can earn an annual rate of up to 3.81% by adding the preferential rate to Plus Box’s base annual rate of 1.81%. The preferential rate applies for one month to balances over 5 million won and up to 15 million won.
K Bank is also running a promotion that rewards customers with cash every time they pay. A reward card is issued at random with each payment, regardless of the amount. When customers open the card in the K Bank app, a randomly determined amount of cash is immediately deposited into their transaction account.
K Bank is also holding an event for customers who have made no payments with a BC Baro credit card in the previous six months. Customers who get the Hidden Card and meet conditions including payment and cumulative spending requirements can receive up to 1.08 million won in cashback and statement credits.
The Plus Box preferential-rate and reward-card promotions run through December 31. Conditions for the statement-credit event may change each month, so customers can check the K Bank app for details.
The ONE Check Card is expanding its public transit cashback benefits under the Everyone Card (K-Pass) through the end of the year. Regardless of spending the previous month, customers who spend at least 50,000 won on public transit receive 2,500 won back per month. Those who also meet the previous-month spending requirement of at least 300,000 won can receive 5,000 won per month. The two benefits cannot be combined.
K Bank also offers Check-In Cashback, which returns up to 5,000 won on a customer’s first payment the following month if they meet a set monthly target. True Friend Unlimited Cashback gives customers who have signed up for at least one of four designated K Bank deposit or lending products or services up to 10% back at around 400 partner merchants, with no limits on the number or amount of payments. Partners include dining and coffee brands such as Compose Coffee and Paul Bassett, as well as fashion and beauty brands such as MUSINSA and Nike.
K Bank aims to encourage customers to use a range of financial products by linking card payment benefits with its deposit products and services.
A K Bank spokesperson said, “We designed our credit and debit cards, which people use every day, to offer not only payment benefits but also benefits from K Bank products and services,” adding, “We will continue to improve customer satisfaction with differentiated financial benefits.”

[email protected] Lee Hyun-jung Reporter