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Kotak launch Virtual only Lifetime free UPI RuPay Credit Card

Abhishek012

TF Pioneer

Kotak launch Virtual only Lifetime free UPI RuPay Credit Card:​

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Features -

Credit meets Convenience with Kotak UPI RuPay Credit Card. Link your card on UPI Apps & make payments instantly​

Reward Benefit​

Earn 3 Reward Points* per ₹100 spent

Credit Card on UPI​

Enjoy facility of making UPI Payment with your credit card.

Virtual Credit Card​

Go wallet free by making instant payments with your credit card.

Lifetime Free Card​

No Joining & Annual Fees for life time.

UPI payment on Credit Card:

  • Enjoy a seamless experience of making UPI Transactions with your Kotak UPI RuPay Virtual Credit Card on your preferred UPI Apps
  • For more information regarding how to make UPI Payments with your RuPay Credit Card, Click Here

Earn Reward Points

  • Earn 3 Reward Points* against every ₹ 100 spent.
  • No capping limit per statement cycle on earning Reward Points
  • Reward Points will be accrued for both UPI as well as Regular# Credit Card Transactions
  • Every 1,000 Reward Points will be equivalent to ₹ 100
  • Minimum 1000 Reward Points will be required for redemption

Life Time Free Card

*Reward Points will not be accrued for transaction categories such as: Rent, Fuel, Railway, Wallet Loading, EMI, Education & Balance Transfer

#Regular Credit Card Transactions include Online/E-Commerce and International Transactions made virtually

Eligibility Criteria​

  • Customer should be an existing Kotak Credit Card holder
  • Customer should be in age bracket of 18-65 Years
  • Customer should be a resident of India

Link your Virtual Credit Card on UPI Payment Apps​

  • Unfold UPI Magic with Kotak UPI RuPay Virtual Credit Card. Link your card on UPI Apps & set UPI Pin for making UPI Transactions
  • For more information on how to link your RuPay Credit Card on UPI Apps, Click Here

Manage your virtual Credit Card on Kotak Mobile Banking App​

  • Kotak UPI RuPay Credit Card will be issued as virtual only card and no physical card will be issued. For your convenience, the card details will be auto-registered in Kotak Mobile Banking App under Credit Card section. To view card details, follow the below steps:
    • Login into Kotak Mobile Banking App
    • Go to “Credit Card” Section
    • Go to “Card Overview” Section
To enable E-Com/Online & International Transactions & manage card usage settings, please click on “Card Control” Tab under “Card Overview” Section in Kotak Mobile Banking App.

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Fees & Charges:

Fee & Other ParametersKotak UPI RuPay Credit Card
Joining FeesNil
Annual FeesNil
Add on Card Benefit (Virtual Card)Not Applicable
Interest Charges on outstanding Balances3.5% (Annualized Rate - 42%)
Minimum Amount Due (MAD) (It will reflect in statement in column of minimum amount due)MAD can be 5% or 10% of TAD as decided by the Bank
Late Payment Charges ("LPC")Due as per last statementLPC Charges
<₹ 100₹ 0.0
₹ 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
Over Limit Charge₹ 500
Cheque Bounce ChargesHigher of (2% of bounce amount or ₹ 500)
Auto Debit Return ChargesHigher of (2% of bounce amount or ₹ 450)
Foreign Currency Mark Up3.5% per transaction + GST
Railway Booking Surcharge WaiverNot Applicable
Fuel Surcharge WaiverNot Applicable
Fee for Cash payment at Bank₹ 100
Reissue/ Replacement Card (per Card)Nil (As it is a virtual card)

Note: GST/Applicable taxes, would be charged as per the rates approved in the Finance Act each year on all interest & fees and other charges levied on your Credit Card.

Special thanks to @Tejo for sharing the details.
 
bro, can you confirm whether any CIBIL/Experian hit for applying this card? Shared limit or seperate limit? It would be a great help. I got a link from kotak today
If you are an existing Kotak card holder, for every additional card you apply, there will be an Experian hit each time. Kotak checks Experian for existing card holders for any additional card requests NOT cibil ... Hope this solves your query 🙂
 
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To maintain credit utilisation ratio.
Be careful, you are increasing credit exposure (on paper) to maintain CUR ... People have tried that trick & then got declined for being over leveraged, IDFC, AXIS, FEDERAL, SBI are notorious for such declines .. If you already have them cards then its a diff story !
 
Be careful, you are increasing credit exposure (on paper) to maintain CUR ... People have tried that trick & then got declined for being over leveraged, IDFC, AXIS, FEDERAL, SBI are notorious for such declines .. If you already have them cards then its a diff story !
People are going for half century 🤔.here & their limit is in lakhs
Mine is in thousands untill now
 
In my case, I have a Kotak Zen Signature card with 6L limit.
Recently, got my Kotak RuPay virtual card with 5L limit.
It still is shared limit, if you spend the entire 5L on your RuPay Virtual, you will be able to spend only upto 1L on your Zen (similar to how ICICI limit sharing works). Your highest limit is your actual limit across all your cards, which is 6L in this case ... Only time you will have separate limit is with their BIZ card.
 
i have 1 existing kotak card and applied this...got approved...but the limit is different than the existing card....doesn't kotak club limits across cards? or since this is rupay it has its own separate limit...anyone with this situation?
 
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