Myntra Kotak Credit Card Features, Charges And Eligibility Criteria

Myntra Kotak Credit Card Features, Charges And Eligibility Criteria
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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 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.

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