Standard Chartered Bank Korea has launched the Reward W Credit/Debit Card, which gives “360 reward” points and discounts. Photo courtesy of Standard Chartered Bank Korea

Reward W Card offers generous benefits

Standard Chartered (SC) Bank Korea strives to further strengthen its customer base by launching a new credit/debit card, which offers generous benefits to its users.

The Seoul-based lender said on April 24 that it had introduced the Reward W Credit/Debit Card, which gives “360 reward” points and discounts.

For example, holders of the card will be able to earn reward points of up to 2.5 percent of their spending. It also promises discounts for taxi rides and Starbucks coffee as many as five times a month.

The percentage of points depends on how much the client used his or her cards in the previous month.

When he or she spends more than 2.5 million won, for example, the percentage would be the maximum of 2.5 percent. The monthly limit for the points is 25,000.

The points are useful because they can be used to pay off card payments or loan interest. Purchasing airline tickets are possible.

In time with the W Card’s debut, SC Bank Korea plans to exempt the annual fees of 10,000 won ($8) for new customers by the end of this June.

Reward W Card gives double benefits of reward points and discounts. We will continue to come up with products, which will be able to meet customer needs,” an SC official said.

SC Bank Korea is one of the top-tier lenders in Asia’s fourth-largest economy. CEO Park Jong-bok is leading the outfit.