Shinhan Card, Marriott International jointly launch a credit card that offers benefits of a Marriott Bonvoy membership

Shinhan Card Co Ltd announced on March 30 that it has partnered with Marriott International Inc to launch "Marriott Bonvoy® The Best Shinhan Card," a private label credit card that connects the benefits of having a global hotel membership with features of a commercial credit card.

Marriott International is the world's largest hotel group that operates more than 7,600 hotels in 133 countries. It manages 30 brands including Marriott, Westin, Sheraton, W, Ritz-Carlton, Courtyard by Marriott, and Four Points by Sheraton. Meanwhile, Shinhan Card is a credit card company under Shinhan Financial Group, one of the biggest financial groups in South Korea.

Signing up for the Marriott-Shinhan card enables cardholders to enjoy preferential services at hotels not only in South Korea but also around the world through the Marriott Bonvoy program, which has about 150 million members worldwide. Just by signing up for the card, cardholders get to enjoy the benefits of being a Marriott Bonvoy Gold Elite member such as being able to upgrade to a room one level higher (depending on the room situation), check out at 2 pm and receive a welcome gift. Normally, Marriott Bonvoy's elite status can only be reached after staying 25 nights during a year at Marriott accommodations. Depending on a cardholder's accumulated usage, it is also possible for the cardholder to be upgraded to "Platinum Elite" status.

Furthermore, when the Marriott-Shinhan card is used to make purchases, Marriott Bonvoy points can be earned. Marriott Bonvoy points can be used for staying at Marriott hotels and its affiliates around the world. If the card is used at any Marriott Bonvoy participating hotel in the world, cardholders can earn 5 Marriott Bonvoy points for every 1,000 won spent. For purchases made through other establishments, between 1 and 5 Marriott Bonvoy points are rewarded for every 1,000 won spent. Also, depending on the amount of annual usage of the card, up to 15,000 bonus points are also rewarded.

Card members also receive a free one-night stay per year at chain hotels around the world, two discounts (each discount is worth 50,000 won) per year for breakfast at participating Marriott hotels in South Korea, and 10 elite accommodation stays needed to maintain and upgrade loyalty status. In addition, a cardholder with up to one more guest can enjoy airport lounge access four times a year.

The annual membership fee is $236 (267,000 won) for the Visa signature card and about $233 (264,000 won) for domestic use only in South Korea. Signing up for the former gives customers additional benefits such as being able to make reservations for hotels around the world through Marriott's official website, get special overseas points, and receive overseas shopping benefits. (/Global Economic)

( With inputs from ANI )