Shinhan Card Expands Fuel-Specific Card Benefits Amidst Volatile Oil Prices, Seeking to Ease Consumer Burden

Amidst increasing volatility in international oil prices, Shinhan Card has moved to expand benefits on its fuel-specific credit cards, aiming to alleviate the burden of fuel costs for consumers. This strategic move is interpreted as an effort to protect consumer sentiment during a period of high fuel prices and strengthen its competitive position in the card market.

Shinhan Card Announces Measures to Alleviate Fuel Cost Burden

With recent increases in international oil prices and expanding geopolitical risks, consumers are facing a growing burden from fuel costs. In this context, Shinhan Card is making efforts to alleviate these difficulties by expanding benefits on its fuel-specific credit cards. This appears to be a careful decision, going beyond a simple marketing strategy, to stabilize consumer sentiment in an era of high fuel prices and build long-term customer relationships.

Details of the Expanded Benefits

Key Changes to Benefits

• Increased Fuel Discounts: The existing fuel discount rate has been increased to enhance the actual discount benefits for consumers.


• Expanded Gas Stations: The network of affiliated gas stations has been expanded to broaden consumer choices.


• Enhanced Additional Services: Fuel-related additional services (e.g., vehicle inspection, car wash) have been strengthened to increase customer satisfaction.

Background of Benefit Expansion

Shinhan Card’s decision is also related to similar moves by competing card companies. Card companies are competing to expand their market share by offering various promotions to alleviate consumers’ fuel cost burdens. Furthermore, the expansion of benefits by card companies is expected to accelerate further in conjunction with the government’s fuel tax reduction policy.

Market Outlook and Investment Strategy

Sustainability of Oil Price Volatility

Oil price volatility is likely to continue for the time being. Various factors, such as geopolitical risks, OPEC+ production cuts, and a slowdown in global economic growth, are influencing oil prices. Therefore, it is important for consumers to actively utilize fuel-specific card benefits to minimize fuel costs.

Intensified Competition in the Card Market

Competition in the card market is expected to intensify further. Card companies are expected to provide differentiated benefits and services to meet the diverse needs of consumers. In particular, cards that strengthen fuel-related benefits are expected to become more popular in an era of high fuel prices.