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Rising Overseas Credit Card Usage Attributed to Growing Interest in Foreign Travel

Rising Overseas Credit Card Usage Attributed to Growing Interest in Foreign Travel

SEOUL, Dec. 21 (Korea Bizwire) — Overseas credit card use in November, typically part of the travel off-season, jumped significantly this year, largely due to the quick recovery of interest in foreign travel, data showed Wednesday. Overseas credit card spending at seven card companies reached 1.63 trillion won (US$1.26 billion) in last month, which was [...]

Card Firms Report 33.9 pct Hike in 2021 Earnings on Higher Commission Revenue

Card Firms Report 33.9 pct Hike in 2021 Earnings on Higher Commission Revenue

SEOUL, March 28 (Korea Bizwire) — Card firms in South Korea saw their combined earnings in 2021 jump thanks to a hike in commission revenue boosted by rebounding consumption from a pandemic-caused slowdown, industry data showed Monday. The combined net income of eight major card firms came to 2.71 trillion won (US$2.21 billion) last year, [...]

‘Recession-Type’ Credit Cards Enjoy Rising Popularity amid Prolonged COVID-19 Pandemic

‘Recession-Type’ Credit Cards Enjoy Rising Popularity amid Prolonged COVID-19 Pandemic

SEOUL, Dec. 8 (Korea Bizwire) — Amid dampened consumer sentiment caused by the COVID-19 pandemic, ‘recession-type’ credit cards that offer generous rewards in return for a low annual fee and minimal usage record are enjoying rising popularity. According to the credit card comparison website CardGorilla, half of the 10 most popular credit cards among those [...]