Myntra Kotak Credit Card Features, Charges And Eligibility Criteria

Introduction :

Leading the market with its unique benefits and combination of financial strength is the Myntra Kotak Credit Card. Let’s examine the various advantages that present this card as a revolutionary tool.

Features :

1. Instant Discount On Myntra
   • Get a 7.5% instant discount on all purchases made on the Myntra mobile app and website.
   • Get up to a 750 rupee discount per transaction.
2. Preferred partners
   • Earn 5% cashback on purchases made in the Preferred Partners category.
   • Get up to Rs. 1,000 in cashback every statement cycle on all of your purchases from preferred partner merchants.
3. Access to myntra insider program
   • LFree enrollment in the Myntra Insider Program
   • After the card is issued, all holders will become Myntra Insider Select members within 30 days of the card being activated.
   • The aforementioned program’s T&Cs will govern its activation, according to Myntra.
4. Credit card UPI on the Rupay network
   • UPI is available for credit card transactions made with your Myntra Kotak RuPay credit card.
   • Consumers using credit cards are eligible for 1.25% cashback on UPI transactions, with the exception of exclusion categories
5. Contactless Experience
   • You can simply tap your credit card on the reader to avoid entering your PIN.
   • Since the credit card is always in your possession, there is less chance of it being lost or counterfeited.
   • Multiple security layers protecting payments to keep you safe from unauthorized or fraudulent transactions

presenting a quick method of payment. Savor the liberty of Contactless Payments, providing a quick, safe, and secure method of making payments. Pay with your Myntra x Kotak Bank credit card without entering a PIN for purchases up to INR 5,000.

Myntra Insider program :

• After the card is issued, all customers will be added to the Myntra Insider Program within 30 days.
• They will join as Select Members.
• To keep their insider tier, customers will need to spend at least Rs. 7000 and place five orders on the Myntra platform annually.

With the Myntra x Kotak Credit Card, you can become an insider. As a member of the Myntra Insider community, take advantage of special discounts and benefits.

• Free shipping
• Early Access to sale event
• Exclusive offers and savings
• Earn super coins and more

Charges :

• Joining Fee – 500/-
• Annual Fees – 500/-
• Condition for waiver of Annual Fees First Year – Rs.2,00,000 spends in the previous Year
• Interest Charges on outstanding Balances – 3.75% (Annualized @ 45%)
• Add On Card Fees – INR 299
• Minimum Amount Due (MAD) – 10% of total outstanding amount(It will reflect in statement in column of minimum amount due)
• ATM Cash Withdrawal (per INR 10,000 )- Max of ₹500 and 2.5%
• Late Payment Charges (“LPC”)Due as Per Last Statement Charges
  • Rs.0 to Rs.100 –  Rs.0
  • Rs.100.01 to  Rs.500 – Rs.100
  • Rs.500.01 to Rs.1,000 – Rs.500
  • Rs.1,000.01 to  Rs.5,000 – Rs.750
  • Rs.5,000.01 to  Rs.10,000 – Rs.750
  • Rs.10,000.01 to  Rs.25,000 – Rs.1,200
  • Rs.25,000.01 to Rs.50,000 – Rs.1,200
  • Rs.50,000+ –  Rs.1,300
• Over Limit Charge – Max of 500/- and 2.5%
• Cheque Bounce Charges – Max of 500/- and 2%
• Foreign Currency Mark Up – 3.5%+GST
• Fee for Cash payment at Bank – Rs.100
• Reissue/ Replacement Card (per issuance) – Rs.200

Milestone program :

Along with the cashback you receive on all transactions, you can also qualify for bonus offers if you meet the quarterly spend requirements of Rs. 50,000, subject to eligibility.

• Get two complimentary PVR tickets worth Rs. 250 each when you spend more than Rs. 50,000 per quarter.
• * Transactions involving rent, wallet purchases, and fuel will not be included in the Rs. 50,000 threshold for determining the quarterly benefit.

1. Scenario 1
   • April, May, and June quarter total quarterly expenditure: Rs. 75,000
   • Expenditure on Rent: INR 5,000
   • Rs. 5,000 was spent on the wallet category.
   • Rs. 5,000 was spent on the fuel category.
   • Total Expenses for Exclusion: Rs. 15, 000
   • Spending Limit: Rs. 60,000
     • Due to eligible spending exceeding Rs. 50,000, the customer is eligible for the quarterly milestone benefit.
2. Scenario 2
   • April, May, and June quarter total quarterly expenditure: Rs. 75,000
   • Rent category expenses: Rs. 15, 000
   • Wallet category spending: Rs. 1,000
   • Fuel category expenditures: Rs. 15,000.
   • Total Expenses for Exclusion: Rs. 31,000
   • Spending Limit: Rs. 44,000

Since the eligible spends less than Rs. 50,000, the customer is not eligible for the quarterly milestone benefit.

Eligibility Criteria :

• The age range for primary credit card holders should be 18 to 65.
• The Add-on Cardholder must be at least eighteen years old.
• Must be an Indian citizen

Benefits :

1. Activation Benefits
   • Upon card activation, receive a Rs. 500 Myntra Voucher to begin your Myntra x Kotak CC experience.
   • Within 30 days of the card’s issuance, complete 1 transaction totaling at least Rs. 500 to qualify for the activation benefit.
   • After the card is activated, the customer will receive a Myntra voucher through email or SMS. This voucher can be used to get a discount of Rs. 500 on your Myntra cart.
   • Myntra’s Rs. 500 e-gift voucher activation benefit is only available on the paid version.
2. Quarterly Milestone Benefits
   • Get two free PVR tickets worth Rs. 250 each when you spend more than Rs. 50,000 per calendar quarter.
   • Spending in the categories of rent, wallet, fuel, and EMI transactions won’t be taken into consideration for
3. Annual Fee waiver
   • 500 rupee annual fee waived after spending 2 lakh rupees in the year prior to the anniversary.
4. Fuel surcharge waiver
   • For transactions ranging from Rs. 500 to Rs. 3,000, the 1% fuel surcharge waiver is applicable.
   • Take advantage of a maximum Rs. 3,500 fuel surcharge waiver each anniversary year.
   • The card is not eligible to receive cashback on fuel purchases.
5. Airport lounge Access
   • Receive Four Free Airport Lounge Visits Per Year
   • Enjoy one complimentary domestic lounge visit per calendar quarter to live in luxury.
   • Benefits like a gourmet meal, cozy seating, widescreen TVs, newspapers, magazines, and free Wi-Fi are available when you have lounge access.
6. Free movie tickets
   • Get 2 Free PVR movie tickets worth ₹ 250 each when you spend ₹ 50,000 every quarter, in addition to the best deals for online shopping.

How To Apply :

Apply through our website www.quickpolicy.in/kotak APPLY NOW

Documents Required : 

1. Identity Proof: Valid government-issued ID card.
2. Address Proof: Utility bills or any document verifying the applicant’s address.
3. Income Proof: Salary slips, income tax returns, or other documents validating financial capacity.

Conclusion :

Beyond traditional expectations, the Myntra Kotak Credit Card provides a comprehensive financial experience that suits your lifestyle. Upgrade your dining, shopping, and entertainment experiences with a credit card that aligns with your goals. With each transaction, make a statement and reinvent your financial path by using the Myntra Kotak Credit Card.