(9 Big Benefits) Kotak Mahindra Bank Credit Card Benefits | Eligibility | Fees

Kotak Mahindra Bank Credit Card Benefits – Kotak Mahindra Bank was founded in 1985 by Uday Kotak. The headquarters of Kotak Mahindra Bank is in Mumbai. The name of the bank was changed to Kotak Mahindra Finance Limited in the year 1986.

The license to conduct banking business was issued to the finance company by the Reserve Bank of India in the year 2003. It has a network of 2169 ATMs and 1369 branches throughout the country. In 2018, it was the second largest private bank in India. Kotak Mahindra Bank acquired ING Vysya Bank in the year 2015.

Kotak Mahindra Bank deals with deposits, investment financing, finance against securities, corporate finance, bill discounts and retail finance. They also deal with credit cards and have a variety of credit cards to suit the needs of customers from every income bracket.

Kotak Mahindra Bank Credit Card Benefits

If you need a good credit card to meet your daily requirements then opt for Kotak Mahindra Bank Credit Card. The bank offers about 20 excellent options. Read on to know more about the reward points, offers, discounts and deals on your Kotak Mahindra Bank Credit Card before you choose.

Kotak Mahindra Bank Credit Cards Features

Paying Bills through Reward Points: Accumulated Reward Points can be used to pay the outstanding credit card bills.
Conversion into EMI option: The card lets you convert your high-value purchases into EMIs and make payments in easy installments.
Balance Transfer: Balance from other bank cards can be transferred to the Kotak Mahindra Card at a lower interest rate and paid back in easy installments.
Lost Card Liability Cover: Lost card cover up to Rs. 2,50,000/- is available up to 7 days from the date of reporting of loss/stolen card. You will not be billed for transactions on the Card after reporting any loss that may be incurred from anywhere in the world and You are not liable for such transactions.

Benefits of Kotak Mahindra Bank Credit Card

Global Acceptance: The major benefit of the card is its worldwide acceptance. This makes it very convenient to pay for your expenses abroad.
Cashback and Discounts: There are cashback facilities for spends on the credit card for select categories of purchases. Many merchants offer special discounts when you spend on these cards.
Flyer Miles: If you are a frequent flyer you can earn Flyer Miles with each ticket purchase. Flyer points can be set against the purchase of another ticket upon accumulation.
Reward Points: For every spend with a credit card, you get reward points, which can be redeemed to purchase any other item.
Credit Score: Credit cards have dual benefits. It increases the availability of finance for your expenses and also enables improvement in your credit score thereby helping you build a credit history that will stand you in good stead in getting high-ticket loans for any huge investments in the future. It is very important. Paying credit card bills on time will help improve your credit score.

Types and Benefits of Kotak Mahindra Bank Credit Card

Owning a credit card to handle your day to day expenses is a financial necessity and no longer a status symbol. Kotak Mahindra Bank has credit cards for a wide range of expenses like shopping, travel, dining, movie tickets, etc. The rewards and discounts that come with a card’s category can really tempt you to own the card.

Following are the types of Kotak Mahindra Bank credit cards and their benefits-

1.Kotak 811 Credit Card Benefits: Easily convert heavy purchases into affordable EMIs. It’s time to earn and spend in ‘rewards’

2.Reward Point

Earn 2 Reward Points for every Rs.100 spent online
Earn 1 Reward Point for every Rs.100 spent offline

3.Welcome Offer :- Spend Rs 5000 within the first 45 days from card issuance and get 500 bonus reward points

4.Annual fee waiver :- Waiver of annual fee of Rs 500 on spending Rs 50,000 in the previous anniversary year

5.Milestone Spending Benefits :- Spend Rs 75,000/- in a year and get 4 free PVR tickets or cashback worth Rs 750/-.

6.Fuel Surcharge Waiver :- 1% fuel surcharge waiver is applicable on transactions between Rs 500 to Rs 3,000. Avail maximum fuel surcharge rebate of Rs 3,500 every calendar year.

7.Railway Surcharge Waiver :- Save on Railway Surcharge of 1.8% for transactions on www.irctc.co.in and 2.5% for transactions at Indian Railways booking counters.

8.Card Insurance Cover :- If your credit card is stolen, you must pre-report within 7 days, which provides a cover of Rs 50,000/- against fraudulent use of this card.

How to apply for Kotak Mahindra Bank credit card?

Steps to Apply for the Card through the Bank’s Official Website

If you are a new customer you need to follow the following steps to apply for the card online.

Go to the Kotak Mahindra bank official website.
Go to the web page and select the type of card you wish to apply for.
You will have to provide personal details like name, mobile number, email ID, employment details, income details and contact address.
Click on the Proceed button
An OTP will be sent to your registered mobile number which needs to be mentioned in the given slot. Once you do this, you will receive a call from a Kotak Mahindra Bank executive who will give you details of the documents to be submitted.
After submitting the documents, the action will be started.
Upon approval, the card will be dispatched to your registered address.

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