Kotak Mahindra Bank offers several entry-level credit cards, but the League Platinum card stands out. It's the best among them, though a bit tricky. Let's dive into the details.
Kotak League Platinum Credit Card Basics
Fees:
Rewards Breakdown
Ongoing Rewards:
Milestone Rewards:
Other Benefits:
The Kotak League Platinum Credit Card emerges as a surprising contender in the category of entry-level credit cards. Despite its categorization, this card boasts rewards that can compete with higher-tier counterparts, making it a noteworthy choice for individuals with different spending preferences.
With an annual fee of ₹499 plus GST, this card is particularly attractive for those with annual expenditures up to ₹2.5 Lakhs. Its unique feature, the Milestone Benefit, adds an extra layer of appeal. This card is not only an excellent option for newcomers but also for seasoned users with multiple credit cards, looking to capitalize on occasional merchant and festive offers.
While the reward range spans from 0.66% to 3.33%, the Milestone Rewards program offers an opportunity to enhance the overall reward rate. The choice between 4 free PVR tickets or 10,000 reward points provides flexibility, although the conversion rate for the latter might leave some users contemplating.
In addition to its rewards program, the Kotak League Platinum Credit Card includes benefits like Railway Surcharge Waiver and Fuel Surcharge Waiver, adding practical value for users.
Despite being an entry-level offering, this card manages to carve a niche for itself, earning a Rating of 3.4/5. For individuals capable of achieving the milestone spends, the potential for a >2% return on an entry-level credit card at this fee point makes the Kotak League Platinum Credit Card a standout choice within Kotak Mahindra Bank's credit card lineup.
Kotak League Platinum Credit Card Basics
- Type: Entry-Level Credit Card
- Reward Range: 0.66% – 3.33%
- Annual Fee: ₹499 + GST
- Ideal For: Those spending up to ₹2.5 Lakhs annually
- Unique Feature: Milestone Benefit
Fees:
- Joining Fee: ₹499 + GST
- Welcome Benefit: ₹500 Movie voucher
- Renewal Fee: ₹499 + GST
- Renewal Fee Waiver: Spend > ₹50,000
Rewards Breakdown
Ongoing Rewards:
- Regular Spends (< ₹2 Lakhs): You earn rewards at a rate of 0.66% for regular spending below ₹2 Lakhs.
- Special Categories (< ₹2 Lakhs): Spending in special categories below ₹2 Lakhs gives you a reward rate of 1.33%.
- All Spends (> ₹2 Lakhs): For all spending beyond ₹2 Lakhs, the reward rate remains at 1.33%.
- Note: 1 Reward Point = ₹0.25
Milestone Rewards:
- If you spend ₹1,25,000 in a half-yearly period, you receive 10,000 Reward Points (RP) valued at ₹1,000.
- Milestone Benefit: You can choose either 4 free PVR tickets or 10,000 reward points.
Other Benefits:
- Railway Surcharge Waiver: Maximum ₹500/calendar year.
- Fuel Surcharge Waiver: Applicable on transactions between ₹500 and ₹3,000, with a maximum waiver of ₹3,500/calendar year.
The Kotak League Platinum Credit Card emerges as a surprising contender in the category of entry-level credit cards. Despite its categorization, this card boasts rewards that can compete with higher-tier counterparts, making it a noteworthy choice for individuals with different spending preferences.
With an annual fee of ₹499 plus GST, this card is particularly attractive for those with annual expenditures up to ₹2.5 Lakhs. Its unique feature, the Milestone Benefit, adds an extra layer of appeal. This card is not only an excellent option for newcomers but also for seasoned users with multiple credit cards, looking to capitalize on occasional merchant and festive offers.
While the reward range spans from 0.66% to 3.33%, the Milestone Rewards program offers an opportunity to enhance the overall reward rate. The choice between 4 free PVR tickets or 10,000 reward points provides flexibility, although the conversion rate for the latter might leave some users contemplating.
In addition to its rewards program, the Kotak League Platinum Credit Card includes benefits like Railway Surcharge Waiver and Fuel Surcharge Waiver, adding practical value for users.
Despite being an entry-level offering, this card manages to carve a niche for itself, earning a Rating of 3.4/5. For individuals capable of achieving the milestone spends, the potential for a >2% return on an entry-level credit card at this fee point makes the Kotak League Platinum Credit Card a standout choice within Kotak Mahindra Bank's credit card lineup.
