Myntra Kotak Credit Card
MyRupaya Ratings
Product Details
Credit Card Name :
Myntra Kotak Credit Card
Bank Name :
Kotak Mahindra Bank
Type :
Shopping Credit Card
Interest Rate :
Interest Rate: 3.7% per month, 44.4% per year
Eligibility :
Primary Credit Card holders should be in the age bracket of 18 years to 65 years and an Indian resident. Add-on Card holder should be 18 years and above.
Pros
Welcome Benefit: Customers get a Myntra Voucher worth Rs.500 on activation of the card. Complete 1 transaction worth Rs. 500 or more within 30 days of card issuance to be eligible for the activation benefit.
Reward System: Customers get an instant discount of 7.5% on all spending done across Myntra Platforms, and 5% cashback on all spending done across the Preferred Partner Merchants like Swiggy, Cleartrip, PVR, etc. Along with this customers can also earn unlimited 1.25% cashback on spending across all other online and offline merchants.
Milestone Benefit: 2 complimentary PVR tickets worth Rs.250 each on spending over Rs.50,000/- every calendar quarter.
Other Benefits: The card is eligible for UPI on Credit Card transactions
Cons
Low cashback rate.
Value add features are limited.
No international lounge access.
Pros & Cons
Welcome Benefits
Customers get Myntra Voucher worth Rs.500 on activation of the card. Complete 1 transaction worth Rs. 500 or more within 30 days of card issuance to be eligible for the activation benefit
Rewards System
Get Instant Discount of 7.5% on all spends done across Myntra Platforms (Mobile app/website) Avail a maximum discount of Rs.750 per transaction.
Get Cashback of 5% on spends across the Partner category of Myntra and Kotak Bank
Avail of a maximum cashback of Rs. 1,000 per statement cycle across your spends on all preferred partner merchants
Earn unlimited 1.25% cashback on spending across all other online and offline merchants.
Effective Cashback Rate: 4.5%
International Forex Markup
3.50%
Welcome Benefits and Reward System
Special Features
Discount of 7.5% on Myntra (max INR 750 per transaction).
Eligibility Criteria
Primary Credit Card holders should be in the age bracket of 18 years to 65 years and an Indian resident. Add-on Card holder should be 18 years and above.
Benefits
Welcome Offer.
Great discount on the Myntra Shopping app and website.
Movie Offers.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Online Visit the Kotak Mahindra Bank website and click on the "Credit Cards" tab.
Select the "Indian Oil Myntra Credit Card" and click on the "Apply Now" button.
Fill in the application form with your personal and financial details.
Upload the required documents, such as your PAN card, Aadhar card, and income proof.
Review and submit your application.
The bank will review your application and get in touch with you if you are approved for the card.
The required documents for applying for a Kotak Mahindra Bank's Indian Oil Myntra Credit Card are: PAN card Aadhar card Income proof (salary slip, salary certificate, Form 16 for salaried individuals; PAN card, IT return, Form 60/61 for self-employed individuals)
Contact Details
1860 266 2666
Account Opening and Procedure
Recommended Credit Cards
Pros:-
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Cons:-
Welcome Benefit: Customers get a Myntra Voucher worth Rs.500 on activation of the card. Complete 1 transaction worth Rs. 500 or more within 30 days of card issuance to be eligible for the activation benefit.
Reward System: Customers get an instant discount of 7.5% on all spending done across Myntra Platforms, and 5% cashback on all spending done across the Preferred Partner Merchants like Swiggy, Cleartrip, PVR, etc. Along with this customers can also earn unlimited 1.25% cashback on spending across all other online and offline merchants.
Milestone Benefit: 2 complimentary PVR tickets worth Rs.250 each on spending over Rs.50,000/- every calendar quarter.
Other Benefits: The card is eligible for UPI on Credit Card transactions
Low cashback rate.
Value add features are limited.
No international lounge access.
HDFC Bank Biz Power Credit Card
The card is a premium credit card with a number of value add features. This card offers cashback on even tax and GST payment. Overall it is a must have card for small business owners/ freelancers.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Fees & Charges
Joining Fee of INR 500
Annual fee of INR 500
Cash withdrawal charges 2.5% of amount withdrawn or Rs. 500 whichever is higher.
Late payment charges - Upto ` 100- Rs. 0/- > ` 100 to `500- Rs. 100/- > ` 500 to `5,000- Rs. 500/- > ` 5,000 to `10,000- Rs. 600/- More than ` 10,000- Rs. 750/-
Redemption Fee Rs. 99/- per redemption request.
EMI Processing charges : 2.5% of loan amount subject to minimum of Rs. 500.
Bank Charges Cross Currency markup of 3.5% on the transaction value
Fuel Surcharge
1% Fuel Surcharge Waiver
Billing Cycle
1 Month