Most adults over the age of 19 in Korea may have a postpaid credit card. A credit card is a postpaid payment system that allows you to pay for goods at online or offline affiliates without cash, and today we’ll learn what to do when credit card holders want to make the cash they need right away.
Things to keep in mind before proceeding with monetization of credit cards
Any credit card holder can easily cash in, but there is a caveat. First of all, it is the last thing you should do to cash in too much money to cash in. It is important to proceed with only the amount you really need or a small amount of payment.
In addition, since it is the process of making cash by re-selling gift certificates obtained by purchasing and re-selling gift certificates from department stores using credit cards, you have to pay for your credit card in the following month. If you don’t pay the card properly on the day you have to pay for it, it can have a negative impact on your credit score, so you need to be extra careful.
How to Purchase a Department Store Gift Certificate
You need to purchase gift certificates from department stores using credit cards. There are many different ways to purchase, the easiest of which is to purchase gift certificates with credit cards by connecting to online shopping malls through computers or mobile phones.
You can access Gmarket, 11th Street, E-Land Mall, and SSG Mall, which are representative shopping malls in Korea, and purchase Shinsegae Department Store gift certificates and Lotte Department Store gift certificates with your credit card. It differs from shopping mall to mall, so you may need to sign up for a membership. If you have completed purchasing a gift certificate for a department store, you have now completed the most basic steps to monetize your credit card (신용카드 현금화).
Selling gift cards at department stores
If you have finished purchasing gift certificates, you will now have to resell them and convert them into cash. Department store gift certificates can be easily sold because they are in high demand. All you have to do is find a gift certificate buyer by accessing “Naver Used Country Cafe” or “Carrot Market,” which has many domestic customers, or register a sales post to sell the gift certificate. Department store gift certificates can usually be sold for at least W95,000 per 100,000 won bill. The more you sell them at a higher price, the lower the fee because the fee varies depending on how much you sell them.