Comprehensive Check and Cancellation of Dormant Cards Now Possible

As of today, users can comprehensively check and cancel dormant cards that have not been used for over a year at once through the ‘My Card at a Glance’ service on the ‘Account Info’ app.

The Financial Services Commission and the Financial Supervisory Service revamped the ‘My Card at a Glance’ service to provide a more streamlined experience for users.

How the New Service Works

Users can now apply for cancellation of all dormant cards at once through the ‘My Card at a Glance – Dormant Card Management’ menu on the Account Info homepage and app.

However, if users have unpaid balances or additional functions such as Hi-Pass, they must contact the card company separately.

Participating Credit Card Companies

• NH Nonghyup Card
• BC Card
• KB Kookmin Card
• Lotte Card
• Samsung Card
• Shinhan Card
• Woori Card
• Hana Card
• Hyundai Card
• Suhyup Card
• Jeonbuk Bank JB Card

The Risks of Dormant Cards

Dormant cards that have not been used for more than a year are vulnerable to card cloning crimes and fraudulent use.

They also incur unnecessary management costs for card companies.

As of the end of June, there were 18.61 million dormant cards in Korea, accounting for 14.1% of all cards.

Future Plans for the Service

The Financial Services Commission plans to allow real-time changes and cancellations of payment cards for automatic telecommunications bill payments in the future.

Additionally, the commission plans to introduce bulk inquiry, change, and cancellation of automatic card payments for daily life-related fees such as city gas bills and online video service (OTT) subscription fees.