Kotak League Platinum Credit Card Review
Overview
| Type | Entry-Level Credit Card |
| Reward Rate | 0.66% – 3.33% |
| Annual Fee | 499 INR + GST |
| Best for | Annual spends of upto 2.5 Lakhs |
| USP | Milestone Benefit |
While Kotak league Platinum Credit Card is an entry-level credit card, it also has the ability to serve you with rewards as good as a premium credit card.
It’s a wonderful choice not only for entry-level customers, but also for Premium customers holding multiple credit cards with a need to hold a Kotak Credit Card to avail the merchant/festive offers once in a while.
Fees
| Joining Fee | 499 INR+GST |
| Welcome Benefit | Rs.500 Movie voucher |
| Renewal Fee | 499 INR+GST |
| Renewal Fee Waiver | Spend > 50,000 INR |
The requirement for renewal fee waiver is pretty good for the rewards & benefits the card comes with.
Rewards
Ongoing Rewards
| ANNUAL SPEND | SPEND TYPE | REWARDS / RS.150 | REWARD RATE |
|---|---|---|---|
| < 2 Lakhs | Regular Spends | 4 | 0.66% |
| < 2 Lakhs | Special Categories | 8 | 1.33% |
| > 2 Lakhs | All Spends | 8 | 1.33% |
- 1 Reward Point = 0.25 INR
- Special Categories: Travel Agencies & Tour Operators, Package Tour Operators, Airlines and Air Carriers, Electric Sales, Durable Goods, Departmental Stores.
If I understand it right, if you’re not spending on special categories, you would get 0.66% until you reach 2L annual spend and then 1.33% for spends beyond 2 Lakhs.
Milestone Rewards
| SPEND | SPEND PERIOD | REWARDS | VALUE | SAVINGS |
|---|---|---|---|---|
| 1,25,000 INR | 1st Jan – 30th June | 10,000 RP | 1,000 INR | 0.8% |
| 1,25,000 INR | 1st July – 31st Dec | 10,000 RP | 1,000 INR | 0.8% |
- Milestone benefit: 4 free PVR tickets (or) 10,000 reward points
- PVR Ticket Max. Value: 400 INR
So as you can see, 10K points option makes sense to most, over PVR vouchers. But 10K RP is converted to 40% (for unknown reasons) so it is 4K RP which gives value of Rs 1000, instead of the expected 2500 INR.
What this means is that if you are able to achieve the milestone spends, your reward rate can be as high as ~2.1% (spends on special categories, tricky though) or at-least ~1.5% which is still good for a card of this range.
Other Benefits
All Kotak Credit Cards comes with few other benefits like:
- Railway Surcharge Waiver: Maximum railway surcharge waiver allowed is 500 INR / calendar year.
- Fuel Surcharge Waiver: Applicable on transactions between 500 INR and 3000 INR. Maximum fuel surcharge waiver is 3500 INR / calendar year.
