Kotak Myntra Credit Card with zero fee for upto 3 years

[Chitra007]

https://www.myntra.com/cbc/store

 

[Abdullāh Khān]

I didn't get any option to choose from.

Same here. I think even I got Rupay Variant.
Please check if this is confirmed Rupay.

Do they hit cibil only if we click "proceed"? Or its already an enquiry by the time we get to this screen?

 

[godslayer]

My myntra app is not showing this offer as I don't use this often but my Gf's account is showing. Should I apply using her account as she is unemployed, will it get rejected?

 

[alanabraham]

Is cibil/experian enquiry happening if we apply for this card on myntra app?

PS: existing kotak bank cc holder

Experian hit happening for existing customers as well.

 

[MangoRush]

30 pages in few days, Kotak would have never expected such a response.
So, now we know which will be the next devaluation target

 

[Unleash]

Experian hit happening for existing customers as well.

Existing customer here, no CIBIL or Experian hit when I applied.

 

[ashwinkashwink is verified member.]

Existing customer here, no CIBIL or Experian hit when I applied.

No Enquiry for me as well

 

[panchabhut]

The simple logic is "If you got those 1000 as actual cashback in card statement, you'd be 'paying' that money from your bank as per your logic, but that money was cashback anyways so it's free. When you get a cashback on a card in any app wallet (like neucoins or swiggy money, even hdfc points redemption for hotels/flights), you don't get the special benefit/cashback that you'd ideally get for spending again on that app"

Simple example, if i spend 20k on amazon and get 1000 cb on Millennia card, I can again spend 1000 from my card and get another 50 cb.
However if I spent 20k from Amazon pay card, I'd get 1000 cb in apay, and buying anything from that 1000 won't give any new cashback.
Effectively losing 50 rs in the process as depreciation in points/cb.

This is common for almost all co-branded credit cards.

As of now cashbacks are outside the tax net. But sooner or later, they will be brought into it. If you are earning "coins/points" and using them for buying further with the same vendor, it can be treated as a "discount". But direct cashbacks will always be income.
But of course, that will come into factor only beyond a certain treshhold value.

 

[TheGuy]

As of now cashbacks are outside the tax net. But sooner or later, they will be brought into it.

Any developed economy where they are considered part of income? In USA NOT

 

[Vasuki]

Existing customer here, no CIBIL or Experian hit when I applied.

No Enquiry for me as well

Check your application number ..

If its old application number or not

 

[Unleash]

Check your application number ..

If its old application number or not

Bhai it was new, card is also approved and dispatched.

 

[panchabhut]

Any developed economy where they are considered part of income? In USA NOT

When in India, we have to follow the law of the land. Any general cashback can be construed as "cash gifts". Such transactions are already covered in the Income Tax Act. Its just that they are presently not covered in the AIS reporting.

 

[CardGame]

30 pages in few days, Kotak would have never expected such a response.
So, now we know which will be the next devaluation target

I can see that you really rushed through the thread

 

[ᏰᏋᎥᏁᎶᎥᏁፈᎧᎶ]

when does one receive filled application form after sms is sent from komtak?

 

[Collector_sahab]

What is "Zero renewal fee UPTO three years" ? Does the duration vary among customers, or there is some criteria to get the next year waived off ?

 

[ronakshah]

when does one receive filled application form after sms is sent from komtak?

Check your spam folder. Last time my filled application form for Kotak cc was in spam folder.

 

[Vasuki]

Bhai it was new, card is also approved and dispatched.

Congratulations.
For me its always old application number.

When did u get the 1st card ? How many months

 

[Vasuki]

What is "Zero renewal fee UPTO three years" ? Does the duration vary among customers, or there is some criteria to get the next year waived off ?

For 3 year u will be charged & compensated without meeting the fees reversal criteria

 

[Vasuki]

when does one receive filled application form after sms is sent from komtak?

Track using other means number & dob or customer id .
You will see the application number... Write it down

 

[Vasuki]

I can see that you really rushed through the thread

2 pages were dedicated for sbi cards.

 

[Unleash]

Congratulations.
For me its always old application number.

When did u get the 1st card ? How many months

Got the first card last year around same month.