Hyundai Card
 |
|
| Industry | Credit Card |
|---|---|
| Founded | 2001 |
| Headquarters | Seoul, South Korea |
|
Key people
|
Ted Chung, CEO |
| Products |
Premium Card Point Card Discount Card Cashback Card Business Card Corporate Card |
| Revenue |
 KRW 1,334.6 bn (2016 2Q) |
 KRW 125.7 bn (2016 2Q) |
|
|
KRW 94.9 bn (2016 2Q) |
|
| Website | http://about.hyundaicard.com |
Hyundai Card (Hangul:현대카드) is a credit card company under Hyundai Motor Group headquartered in Seoul, South Korea. In 1995, Hyundai Motor Group acquired Diners Club Korea, changed its name to Hyundai Card in 2001. In May 2003, the company introduced its signature ‘Hyundai Card M,” followed by a series of ‘alphabet cards.’ The company’s strategic alliance with the GE Consumer Finance in October 2005 boosted the fledgling business in the heavily competitive Korean credit card market.
In October 2001, Hyundai Motor Group acquired Diners Club Korea and changed its name to Hyundai Card Co., Ltd. In May 2003, the company launched the signature Hyundai Card M and the Save Point service, which gives advanced M points for Hyundai/Kia cars and other large purchases and retrieve the amount with the M points generated from future M card usage.
From 2004 the company released a series of ‘alphabet cards’ that are ‘tailored to the customers’ lifestyle’. The company became the biggest hit in the local credit card industry with the largest members of 8 million for a single credit card brand.
In 2005, the company has partnered with GE Consumer Finance – which later changed its name to GE Capital— allowing Hyundai Card to learn GE’s strong risk management knowhow and GE to acquire a portion of Hyundai brand. The company launched ‘The Black Card’ in 2005 for the highest-end credit card users, followed by ‘The Purple’ in 2006 and ‘The Red’ in 2008. The Hyundai Card Zero, launched in November 2011, is designed at keeping up with the changing customer lifestyle.
In July 2013, the company declared Hyundai Card Chapter 2, a streamlining scheme of its product portfolio. All products were trimmed according to the two main pillars – point mileage and cashback—and instead the customers were given the choice to use their point mileage and cashback freely if they met with a certain usage standard.
In October 2015, the company launched ‘Digital Hyundai Card’ project, that goes beyond introducing mobile/online products, while changing its core nature to an agile and digital-oriented company.
The Black, the highest premium card, and The Purple, a premium card, are for highest-end credit card users in Korea. The Red, which follows the traits of The Black and The Purple cards, is another premium card for people who seek beyond ordinary platinum cards.
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Wikipedia