Newly introduced credit cards jointly issued by Standard Chartered Bank Korea and Samsung Card are putting a smile on the faces of users and companies.

It is the first time in the finance sector that a bank and a credit card company has collaborated. The two financial firms in February inked a deal to launch credit cards that provide a wide range of benefits. 

The most notable advantage is the 360 Reward Point system which allows users to use points, accumulated via Samsung Card and SC Bank transactions, as cash.

What’s more is that the new credit cards are beneficial for all parties. SC Bank is currently providing face-to-face service at all branches for customers that prefer to issue credit cards in person rather than through SC Bank or Samsung Card website. Thanks to the service, the number of new SC Bank customers is on the rise, bank officials said.

“The collaboration of SC Bank and Samsung Card is creating synergy, a growth locomotive for both companies,” said Patrick Yoon, vice president of the retail finance department at SC Bank. He added, “We will continue to work together to introduce more products, and provide an enhanced service.”

Following the launch of credit cards on July 18, the two are planning to offer financial services exclusively for SC Bank-Samsung Card credit card users.

By Kim Bo-gyung  (lisakim425@heraldcorp.com)