Lifetime Free kotak league platinum Credit Card: Unexplained Annual Fee Deduction Issue

[the12thhman]

I have a Kotak League Platinum Credit Card, which I have been using since March 2022. When I applied for this card, it was clearly mentioned in the application form that it would be lifetime free. However, after three years, on 25th April, an annual fee of ₹499 was deducted from my account+ gst.

When I raised this issue, I was informed that it is not a lifetime free card. I then asked why no annual charges were applied for the past three years. They replied that the annual fee was waived each year based on spending ₹50,000.

However, I checked my spending between April 2023 and April 2024, and it was less than ₹50,000. Despite that, no annual fee was charged last year.
If the fee was supposed to be charged earlier but wasn’t, why has it suddenly been applied now?

 

[shu_sha_]

Only Rupay variant is LTF not Visa

 

[the12thhman]

Only Rupay variant is LTF not Visa

it was free(not for everyone) i atttached the cropped image of my application form

 

[akshayhs]

Only Rupay variant is LTF not Visa

This is incorrect. RuPay variant was only introduced last year or the year before the last. It was being issued on VISA prior to that. If you have been given the card LTF, then it's always recommended to get it in writing. For Kotak cards, if you raise a query from Netbanking (if you have the account), they revert back fairly quickly regarding the holding status of the card (whether it is paid or LTF).

 

[Tejo]

Even visa

Only Rupay variant is LTF not Visa

was offered ltf in the past.

Kotak bank is fraud. Sue them via ombudsman

 

[SSV]

Even visa


was offered ltf in the past.

Kotak bank is fraud. Sue them via ombudsman

This is correct..

 

[the12thhman]

Even visa


was offered ltf in the past.

Kotak bank is fraud. Sue them via ombudsman

will do that

 

[the12thhman]

This is incorrect. RuPay variant was only introduced last year or the year before the last. It was being issued on VISA prior to that. If you have been given the card LTF, then it's always recommended to get it in writing. For Kotak cards, if you raise a query from Netbanking (if you have the account), they revert back fairly quickly regarding the holding status of the card (whether it is paid or LTF).

okay raising the query

 

[shu_sha_]

Even visa


was offered ltf in the past.

Kotak bank is fraud. Sue them via ombudsman

I took the card somewhere in 2022 end, that time customer care mentioned only Rupay is LTF other variants are chargeable

 

[the12thhman]

I took the card somewhere in 2022 end, that time customer care mentioned only Rupay is LTF other variants are chargeable

in may 2022 that variant doesnt exist

 

[shu_sha_]

in may 2022 that variant doesnt exist

When did I said May 🤣
It was Dec 2022 if I remember

 

[Gau₹av]

Not that I am blaming you or anything but all banks are deceitful about credit card pricing so before activating the card, I make it a point to get an email confirmation always about card pricing and then only activate it.

That being said, you have a strong case as you were not charged in the period you mentioned despite spends being lower. So do complain to RBI. And I hope you get the fees reversed at least, and even better, the card made lifetime free. After the devaluation that kicks in from June 2025, this card's reward rate will fall to 0.1%. After milestone, close to 1%.