Kotak Mojo Platinum Credit Card: The Kotak Mojo Platinum Credit Card, is designed for the who want to earn extra reward points on online spends. Just not reward points but travel, shopping, and milestone benefits. The amazing offers just doesn’t end here, you can also avail other privileges, such as lounge access, fuel surcharge waiver and milestone benefits with this card.
The card is a reward-focused credit card that offers good value-back on all your spends in the form of reward points. This credit card offers 2.5X rewards on online spends, which makes it a viable option for online transactions. Using this card, you can earn 1 Mojo Point on every offline spend of Rs. 100, and you can earn extra Reward Points for your spends on online purchases and KayMall and also can earn gift vouchers worth Rs. 1,000 every quarter on achieving the milestone spend.
Contents
Kotak Mojo Platinum Credit Card
1. Features and Benefits:
The Kotak Mojo Platinum Credit Card offers quite good reward rate and great benefits across different categories, including travel, lifestyle, and many more.
Here we have mentioned the features and benefits offered by the Kotak Mojo Platinum Credit Card:
- Milestone Benefits:On spending Rs 1 lakh or more in a quarter, get gift vouchers worth Rs. 1,000. And, applicable for the first year only.
- Travel Benefits: You get up to 8 Complimentary airport lounge access per year within India, i.e., 2 per quarter both domestic and international terminals.
- Railway Surcharge Waiver: On booking tickets at irctc.co.in and on Indian railway booking counters, you get a railway surcharge waiver i.e., 8% railway surcharge waiver on the IRCTC website and 5% railway surcharge waiver at Indian Railways booking counters.
- Fuel Surcharge Waiver: On all fuel transactions between Rs. 500 to Rs. 3,000, The maximum fuel surcharge waiver is subject to the limit of Rs 3500, get a fuel surcharge waiver of 1%, at fuel pumps all over India (waiver capped at Rs. 100 per statement).
- Joining and Renewal Fee Waiver: If you spend Rs. 30,000 or more, the joining fee is waived off i.e., within the first 90 days after the card issuance and if you spend Rs. 1 lakh or more, the renewal fee is waived off i.e., in the previous year.
- Insurance Benefits: Lost Card Liability Cover against fraudulent usage up to Rs. 1.25 lakh against any fraudulent usage of your card.
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2. Reward Redemption:
- For every spend of Rs. 100, you get 1 Mojo Points.
- For every spend of Rs. 100 on online purchases, you get 2.5 mojo Points.
- On every Rs. 100 spent on KayMall, you get 5 Mojo Points.
- The maximum benefit is capped at 2250 Mojo Points per billing cycle (750 Mojo Points on each category).
- The Mojo Points are valid for 1 year from the date of accumulation.
- For several categories, including travel, movies (BookMyShow vouchers), shopping, e-vouchers, and many more, the Mojo Points you earn can be redeemed on the website kotakrewards.com, at a rate of 1 Mojo Point = Rs. 0.25.
- The earned Mojo Points can also be redeemed against the outstanding statement by calling the bank’s customer care. For redemption against the outstanding statement, 1 Mojo Point = Re. 1.
3. Fees and Charges:
- The joining fees is- Rs. 1,000
- The Annual fee or Renewal fee charges are- Rs. 1,000
- The Cash Withdrawal Fee, Rs. 300 of the withdrawn Rs. 10,000, should be paid as cash advance fee on all cash withdrawals made using this card.
- For Interest Rate you have to pay an interest rate of 3.50% per month (or 42% p.a.) which is applicable to the amount due on the card’s statement if you are unable to clear all your dues within the payment due date.
- On all the Foreign currency transaction, you have to pay forex fee of 3.50% on the transacted amount. This fee is to be paid on all international transactions done using this credit card.
- Late Payment Charges are- apart from the interest rate, a late payment fee shall also be applicable, For Statement Balance: Less than or equal to Rs. 500: Rs. 100, Between Rs. 501 to Rs. 10,000: Rs. 500, Above Rs. 10,000: Rs. 700
4. Eligibility Criteria to Apply:
The common eligibility criteria and the documents required to apply for Kotak Mojo Platinum credit card are as follows:
- The age limit for applying for this card is 21-65 years of age.
- The cardholder should be an Indian resident.
- The cardholder should have a stable source of income either through salary or if self-employment with the income Rs. 4 lakhs or more.
- For Identity Proof documents you need are Aadhar Card, Voters Id, PAN Card, Passport, Driving License.
- For Address Proof, Utility bills of the latest months, Aadhar Card, Passport, and Ration card are the needed documents.
- For Income Proof, you need to submit the latest bank statement as a salaried person, and can also, submit your company ID card, if you are salaried, and if you are self-employed, you should submit your latest ITR.
5. How to Apply for Kotak Mojo Platinum credit card:
For Kotak Mojo Platinum credit card you can apply either online or offline. For offline mode, you can visit your nearest Kotak Bank branch with all the required documents and fill out the physical application form.
Here are the steps to be followed to apply for your Kotak Mojo Platinum credit card:
- Step 1: Visit Official website of the Kotak Bank- www.kotak.com
- Step 2: Select your ‘credit card’ in the ‘card’ option, under the section ‘Explore Products’.
- Step 3: Next, choose the ‘Kotak Mojo Platinum Credit Card’.
- Step 4: Then, click on ‘Apply Now’.
- Step 5: Enter all the requested details and providing the required documents and ‘submit’ it.
This the way in which you can apply for Kotak Mojo Platinum credit card online.
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