In this post, I would like to summarize 4 tips and methods for 1:1 cashing of Hyundai Card M Points. In fact, unlike points from other credit card companies, it is difficult for M-points to have a 1:1 value. Let’s take a look at the reason lightly and summarize how 1:1 M-points can be cashed out.
Most credit card companies use the “point system,” and according to statistics, the average point accrual rate is about 0.4% (20 years), although it varies from card company to card company. This is a structure that allows you to accumulate about 4,000 points if you use a card of 1 million won per month.
At most card companies, 1 point is worth 1 won. Strangely, however, in Hyundai Card’s representative point system, M-points, 1 point is worth 1 won, but 1.5 points are worth 1 won.
In this post, first of all, I will find out why the value of Hyundai Card’s M-points has fallen, and I’ll try to organize 3 tips for 1:1 cashing out of M-points.
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Hyundai Card M point value
The reason for the decline in the value of converting M points into cash 현대카드 M포인트 현금화
How to use Hyundai Card M Points in cash, 1:1
How to use 1:1 M-point cashing (1) Purchase of Hyundai/Kia Motors (up to KRW 2 million) 좋은뉴스
How to use 1:1 conversion of M points into cash (2) Using M point mall
How to use the 1:1 conversion of M points into cash (3) Political donations (deposits)
Hyundai Card M point value
The M-point system is a representative point system that accumulates when using Hyundai Card M-affiliated cards. Depending on the monthly card usage amount and merchant characteristics, up to 6% of the payment amount can be accumulated.
M Points are characterized by being accumulated without limit at all affiliated stores, and due to the nature of belonging to the Hyundai Motor Group, they can also be used for car purchases, and can be used at various brands and places such as shopping, dining out, gas, movies, travel, etc. Unlike M Points, it is impossible to cash them out immediately.
Even though it is the method introduced below, in order to cash out the customer’s M-points, it is first necessary to convert them into H-Coins on the Hyundai Card website.
At this time, 1.5 points instead of 1 M point are exchanged for 1H-Coin.
Cashing out M points
In other words, 1H-Coin can be deposited into an account of the customer’s choice with 1 won in cash, but the problem is that 15,000 M-points must be cashed instead of 10,000 M-points. In addition, the exchange rate for cash is lower than that of other card companies, but there are many cases where you feel uncomfortable because there is even the inconvenience of converting to H-Coin to cash.
The reason for the decline in the value of converting M points into cash
In fact, this is because the M-point system is structurally different from the point systems of other credit card companies.
The cost of card points provided to consumers is a structure in which the card company and member stores share the cost, and many cards usually share the cost with the member store when earning points.
However, Hyundai Card handles the entire cost of Hyundai Card when a customer accumulates points, and shares the cost with the member store when the customer uses the accumulated points.
Therefore, since it is a structure in which customers can receive fees from affiliates when using accumulated M-points, if customers convert M-points into cash without using them, the value decreases. (This is also because Hyundai Card has to shoulder all costs)
In fact, the M-point system is designed in consideration of the fact that certain merchants only bear the cost of points and do not receive benefits from increased sales without considering the monetization of the M-point system. is made of.
How to use Hyundai Card M Points in cash, 1:1
In fact, for the same reason as above, if you do not convert M points to H-Coin at 1.5:1 and do not transfer or cash, it is a 1:1 method to use at affiliated stores.
Along with this, there is also a way to benefit about 100,000 won at the end of the year-end tax settlement through “political donations” introduced at the end.
How to use 1:1 M-point cashing (1) Purchase of Hyundai/Kia Motors (up to KRW 2 million)
First of all, in the case of M-points, you can use up to 2 million M-points for 5 years when purchasing a new car for all models of Hyundai/Kia. In addition, 1.5~2% of the payment amount is accumulated as M points.
When purchasing a vehicle, you can apply for the use of M Points at Hyundai/Kia sales offices.
One-time limit: Up to 2 million M points can be used
Annual limit: up to 2 million Mpoints can be used for 5 years
Cashing out M points
How to use 1:1 conversion of M points into cash (2) Using M point mall
There is also a way to shop at a shopping mall where 100% of M points are deducted from the main screen when you launch the Hyundai Card app.
Cashing out M points
As shown below, the shopping mall does not have a large price difference from general online shopping malls, and 100% M-points can be used.
Cashing out M points
How to use the 1:1 conversion of M points into cash (3) Political donations (deposits)
Lastly, there is also a way to receive a refund of year-end tax settlement donations by paying political donations.
Political funds (sponsorship, deposit, party expenses) are fully tax deductible up to 100,000 won, and the amount exceeding 100,000 won is tax deducted up to 15% (25% for the amount exceeding 30 million won). There is also a way to get a tax deduction of 10,000 won.
For your reference, if you exceed 100,000 won, the deduction rate decreases, so you can only claim up to 100,000 points before mid-December to receive a tax credit at the end of the next month. The method of using political donations to convert M points into cash is as follows.
(1) Visit the National Election Commission Political Support Center > Select Donate
You can search for political donations on Naver, access the homepage, and select “donate” for deposits or donations.
Cashing out M points
For reference, if you do not intend to support a specific political party, etc., you can pay for political donations through deposits.
The deposit system is a system in which the National Election Commission, a national institution, receives political funds from each individual who wants to donate and pays them to a political party that meets certain requirements. It was created for the purpose of
※ Public officials and foreigners cannot donate donations, but public officials can deposit money.
Cashing out M points
(2) Agree to terms and conditions, verify identity, enter personal information, select payment information “Credit Card Points”
Then follow the instructions to agree to the terms and conditions, verify your identity and enter your personal information, and finally select “Credit Card Points” from the payment information.
Cashing out M points
(3) Check notes (receipt issuance after 10 days) > Enter payment information > Payment
For reference, credit card receipts can be issued about 10 days after the payment date. Therefore, in order to receive tax benefits for donations of deposits for the current year, the 10-day issuance date must be considered, so donations must be made before mid-December.
Then, enter the information of the credit card company to pay the deposit, check the use of M points, and proceed with the payment.
Cashing out M points
In this post, first of all, we looked into why the value of Hyundai Card’s M-points fell, and summarized three tips for converting M-points into cash 1:1.