Kotak launch Virtual only Lifetime free UPI RuPay Credit Card

[Abhishek012]

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

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.



Fees & Charges:

Fee & Other Parameters	Kotak UPI RuPay Credit Card
Joining Fees	Nil
Annual Fees	Nil
Add on Card Benefit (Virtual Card)	Not Applicable
Interest Charges on outstanding Balances	3.5% (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 statement	LPC 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 Charges	Higher of (2% of bounce amount or ₹ 500)
Auto Debit Return Charges	Higher of (2% of bounce amount or ₹ 450)
Foreign Currency Mark Up	3.5% per transaction + GST
Railway Booking Surcharge Waiver	Not Applicable
Fuel Surcharge Waiver	Not 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.

 

[ray8285]

Visa/MC card is CIBIL linked.
Rupay card is EXPERIAN linked.

Your first card must have been Zen (visa/MC) hence CIBIL hit.. For New card application Kotak searches CIBIL from then Experian for any additional card requests..

I think these 2 limits are separate. Nowhere Kotak talked about a combined/overall/clubbed/joint limit.

This is how Kotak works.. Talk to CC or mail them & you will know that your limit is shared and NOT separate! They may give you different limit for different cards, the highest limit amongst your cards is your actual limit irrespective of the variant!

 

[ray8285]

i have same scenario but with different limits...

Kotak does not issue "separate limits", mail and ask for clarification... Sure, the limits might show different in different cards but the highest limit will be your actual limit!

 

[RAMESH BABU N]

Your first card must have been Zen (visa/MC) hence CIBIL hit.. For New card application Kotak searches CIBIL from then Experian for any additional card requests..


No. This is how Kotak works.. Talk to CC or mail them & you will know that your limit is shared and NOT separate!

Anyway, it does not matter. My usage on all my 6 cards combined - per month - does not go beyond 1L. Except when I buy air tickets for our trips abroad. So, absolutely, no problem with it.

 

[ray8285]

Anyway, it does not matter. My usage on all my 6 cards combined - per month - does not go beyond 1L. Except when I buy air tickets for our trips abroad. So, absolutely, no problem with it.

That is wonderful, however at least you know now 🙂

 

[Vasuki]

Kotak does not issue "separate limits", mail and ask for clarification... Sure, the limits might show different in different cards but the highest limit will your actual limit!

This is the rule for every Bank now

 

[suryatejad]

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

Thanks a ton for fast reply. I am an existing kotak CC holder, From the discussion in the thread i understand it is a shared limit with my existing CC.

 

[ray8285]

This is the rule for every Bank now

SBI, INDUSIND & a few others does split limit too bro.. SBI still does separate limit (for new application) as well. Axis used to do but has stopped now I think!

 

[ray8285]

Thanks a ton for fast reply. I am an existing kotak CC holder, From the discussion in the thread i understand it is a shared limit with my existing CC.

Correct. However, If you apply separately for their business CC (biz card I think they call it) only then you will get a separate limit!

 

[suryatejad]

Hmm so initially I didn't remember so checked on airtel app and yes there was cibil hit on 7th August by kotak on my cibil report.

Bro, were you an existing kotak CC holder before this card application? Because others are saying existing users get Experian hit not Cibil hit. Just for clarification.

 

[vaibhav111]

Bro, were you an existing kotak CC holder before this card application? Because others are saying existing users get Experian hit not Cibil hit. Just for clarification.

Yes I was existing user. And for me it was cibil hit. Pls note I didn't even use this kotak virtual cc cause it useless and just applied for the sake. Tata neu infinity is much better.

 

[Chaitanya-a]

Correct. However, If you apply separately for their business CC (biz card I think they call it) only then you will get a separate limit!

I got Kotak card on November. Haven't received the link for UPI Virtual Rupay card yet. Called them today, even their manager said that we can't provide you link. Only bank send it to eligible customers.

 

[Vasuki]

I got Kotak card on November. Haven't received the link for UPI Virtual Rupay card yet. Called them today, even their manager said that we can't provide you link. Only bank send it to eligible customers.

Any limit increase

 

[D₹V]

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

If one requests LE in Kotak, do they hit Experian only or CIBIL too?

 

[Vasuki]

If one requests LE in Kotak, do they hit Experian only or CIBIL too?

They will offer you garland bhai . Just apply

 

[ray8285]

If one requests LE in Kotak, do they hit Experian only or CIBIL too?

I always got auto LE with Kotak.... Never had to request for one till now 😊

 

[ray8285]

They will offer you garland bhai . Just apply

IMO, With Kotak, it's better to wait for auto LE rather than requesting for one bro ... Kotak is one bank where it's all smooth till there is a manual intervention 😂🤣

 

[Vasuki]

IMO, With Kotak, it's better to wait for auto LE rather than requesting for one bro ... Kotak is one bank where it's all smooth till there is a manual intervention 😂🤣

Better half of icici in le ..
I will believe only if i will get lucky 😅

 

[ray8285]

Better half of icici in le ..
I will believe only if i will get lucky 😅

ICICI and kotak are brothers in arms. Every time you get a diff reply from their customer care for a problem, both are better till there is a manual intervention, auto LE can be crazy and they give you the LE, the moment you don't require it anymore!

Also, use the start stop technique with Kotak, make few large purchases even upto credit limit and then pay it off and stop using card for a couple of months.. First they send you emails saying "we miss you", next is LE! 😂

 

[Vasuki]

ICICI and kotak are brother in arms. Every time you get a diff reply from their customer care for a problem, both are better till there is a manual intervention, auto LE can be crazy and they give you the LE, the moment you don't require it anymore!

Also, use the start stop technique with Kotak, make few large purchases even upto credit limit and then pay it off and stop using card for a couple of months.. First they send you emails saying "we miss you", next is LE! 😂

So this month is my first one
Used 45k out of 70.k

Pay this and wait for months ?

 

[ray8285]

Better half of icici in le ..
I will believe only if i will get lucky 😅

Once I got a LE offer when my card was "OVER LIMIT" by 97000 due to a medical emergency (I wish I had a screen shot of that..

I had asked Kotak to gimme a "Temporary LE of 75k" due to the emergency and they declined it after 24 hours ..!!!!!!! Then the card kept going till 123,000 over the limit, beyond which I did not have to swipe" as my requirement was met .. Just got charged 500 + 90 gst for that which they reversed on the phone itself!

As I said their systems work better with NO manual intervention.