Shinhan Card said on the 3rd that it has launched the Shinhan Card The CLASSIC Air, a premium travel card that lets holders accumulate Korean Air mileage and MY Shinhan Points at the same time.
The card earns one mile for every 1,500 won spent at merchants at home and abroad. Certain categories earn two miles per 1,500 won, including restaurants, bakeries and coffee shops, delivery apps, overseas merchants and online shopping malls. There is no cap on the base accrual, but additional accrual is limited to 5,000 miles a month.
For MY Shinhan Points, holders earn 0.5% of the amount spent when paying with Super SOL or SOL Pay in South Korea, up to 20,000 points a month. Overseas spending earns 1% back in points regardless of payment method, with no cap on accrual.
The card also carries travel benefits. Holders receive an immediate 30,000 won discount at lounges at eight luxury hotels in South Korea. The card also offers discounts on parking at Incheon International Airport and free access to airport lounges worldwide. Each of these services can be used up to four times a year.
Basic card services are available to holders who spent at least 500,000 won the previous month. The annual fee is 147,000 won for the domestic-only version and 150,000 won for the version that also works overseas through AMEX.
Customers who spend at least 1 million won a year receive an additional accrual opportunity. Once a year, they can choose either 5,000 Korean Air miles or 100,000 MY Shinhan Points.
