Kotak Mojo Platinum Credit Card from Kotak Mahindra Bank offers exciting benefits and rewards. With features like cashback on dining, shopping, and fuel, Mojo Platinum Credit Card provides a convenient and rewarding experience. Kotak Mojo Platinum Credit Card credit card is designed to add value to everyday expenses, making it a popular choice for those who are looking for best credit card. In this article we will explain all the details of Kotak Mojo Platinum Credit Card including benefits, eligibility criteria, required documents, fees and charges and how to apply for Kotak Mojo Platinum Credit Card.
Benefits of Kotak Mojo Platinum Credit Card
Kotak Mojo Platinum Credit Card offers several benefits to enhance your online spending experience.
- Mojo Points: Earn 2.5X rewards on online spending, translating to 2.5 Mojo Points for every Rs. 100 spent online.
- Travel in Style: Enjoy a complimentary Dream Folks airport lounge visit within India, adding a touch of luxury to your travel.
- Surcharge Benefits: Get a 1% fuel surcharge waiver on select transactions, easing the impact of transaction costs.
- Security at Its Core: With an embedded EMV Chip and 6-digit PIN authentication, your transactions are secure and seamless.
- Visa PayWave: Experience fast and secure payments, reducing the risk of theft or loss for transactions up to Rs. 5,000.
- Milestone Program: Unlock 2500 reward points by spending Rs. 75,000 within a quarter, exclusive to the first year.
- Annual Fees Waiver: Waive annual fees with a spend of Rs. 1,00,000 in a year, making the card more economical.
- Seamless Payments: Enjoy hassle-free monthly payments through SMS or a call to the bank.
Kotak Mojo Platinum Credit Card Eligibility Criteria
- Age: Individuals applying for the Mojo Platinum Credit Card should be between 21 and 65 years old.
- Income: Applicants should have a minimum annual income of Rs. 4 lakhs.
- Residence: The card is available for Indian residents.
Document Required for Kotak Mojo Platinum Credit Card
- ID Proof: A valid document serving as proof of identity, such as Aadhar card, passport, or driver’s license.
- Address Proof: Documents verifying the applicant’s residential address, including utility bills, Aadhar card, or rental agreement.
- Income Proof: Evidence of a minimum annual income of Rs. 4 lakhs, which may include salary slips, income tax returns, or employer certificates.
- Age Proof: Documentation confirming the applicant’s age, such as PAN Card, Aadhar card or passport.
Kotak Mojo Platinum Credit Card Fees and Charges
| Fee/Charge | Amount |
|---|---|
| Joining Fees: | ₹1000 (One-time fee) |
| Annual Fees: | ₹1000 |
| Add-on Card Fees: | ₹299 |
| Interest Charges on Outstanding Balances: | 3.5% (Annualized 42%) |
| ATM Cash Withdrawal/Cash Advance: | 2.5% on advance amount, minimum ₹500 |
| Late Payment Charges (LPC): | Varying from ₹0 to ₹1200, based on outstanding |
| Over Limit Charge: | ₹500 |
| Cheque Bounce Charges: | 2.0% on bounce amount, minimum ₹500 |
| Foreign Currency Mark Up: | 3.5% |
| Reissue/Replacement Card Fee: | ₹100 |
Late Payment Charges of Kotak Mojo Platinum Credit Card
| Due as per last statement | LPC charges |
|---|---|
| <₹100 | ₹0 |
| ₹100 – ₹500 | ₹100 |
| ₹501 – ₹5,000 | ₹500 |
| ₹5,001 – ₹10,000 | ₹600 |
| ₹10,001 – ₹25,000 | ₹800 |
| ₹25,001 – ₹50,000 | ₹1000 |
| ₹50,000 | ₹1200 |
How to apply for Kotak Mojo Platinum Credit Card?
To apply for the Kotak Mojo Platinum Credit Card, follow these simple steps:
- Visit Kotak’s Official Website: Go to Kotak Mahindra Bank’s official website.
- Navigate to Credit Cards Section: Look for the “Credit Cards” section on the website.
- Find Kotak Mojo Platinum: Locate the Kotak Mojo Platinum Credit Card among the options.
- Check Eligibility: Ensure you meet the eligibility criteria mentioned, such as age (21-65 years), minimum income (Rs. 4 lakhs), and Indian residence.
- Prepare Documents: Gather necessary documents including ID proof, address proof, income proof, and age proof.
- Click on ‘Apply Now’: Click on the “Apply Now” button for the Kotak Mojo Platinum Credit Card.
- Fill in Application Form: Complete the online application form with your personal and financial details.
- Submit Documents: Upload the required documents as part of the application process.
- Review Terms and Conditions: Read and understand the terms and conditions associated with the credit card.
- Submit Application: Once everything is filled out and the documents are uploaded, submit your application.
- Wait for Approval: Kotak Mahindra Bank will review your application. If approved, you’ll receive further instructions.
- Receive Your Card: Once approved, your Kotak Mojo Platinum Credit Card will be sent to your registered address.
FAQ
How can I avoid paying Joining Fees for Kotak Mojo Platinum Credit Card?
You can get the Joining Fees waived by spending ₹30,000 on retail purchases within the first 90 days of card issuance.
What is the condition for waiving Annual Fees for the first year on Kotak Mojo Platinum Credit Card?
To waive Annual Fees in the first year, you need to make annual retail spends of ₹1,00,000.
Is there a way to waive Annual Fees in the second year for Kotak Mojo Platinum Credit Card?
Yes, you can waive Annual Fees in the second year by making annual retail spends of ₹1,00,000.
How can I redeem Mojo Points earned through online spending?
You can redeem Mojo Points through the Kotak rewards portal for gift vouchers, merchandise, and more.
What is the interest rate on outstanding balances for Kotak Mojo Platinum Credit Card?
The interest rate on outstanding balances is 3.5% annually (42% annualized).
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