Are you finding a credit card that gives you reward points and cashback on your daily life transaction, then this article will be a beneficial one for you? In today’s article, we will discuss a credit card that comes from Kotak Mahindra bank. The name of the card is Kotak Essentia Platinum Credit Card, and this credit card is well known for its reward points and savings offer.
So, if you are interested to know more regarding this card, go through the full article. After reading the whole one, I hope you can easily decide that you should go for this credit card now or in the future or not.
So, let’s begin with the key features and highlights of this card.
Key Features And Highlights
- This card is a very budget-friendly credit card that you can issue very easily. If you are a person who is looking for rewards or cashback in your daily life transactions or spends, then this card is made only for you.
- Here you can join the service by paying just Rs. 1499. The annual fee is also very budget-friendly where you have to pay only Rs. 749 as second years onwards.
- This card is giving you benefits on your grocery and departmental transactions. Here you get a 10% discount when you use this card to pay the bill on grocery and departmental stores.
- Besides this, when you use this card on departmental stores and grocery stores, you spend every Rs. 100 you get 10 saving points. But here, the transaction amount must be in between Rs. 1500-4000. In a month, you can earn here a maximum of 500 reward points. You can also get here milestone benefits if you use this card to spend Rs. 1.25 lakhs within six months. Here you get six PVR tickets or 1200 reward points as your wish.
- The company also provides 1 point for spending every Rs. 250 on different categories.
The reward point system is also imposing on this card. But, here, the reward points are called saving points. Here you get 10 saving points on the spending of every Rs. 100 at departmental stores and grocery shops. Here the minimum transaction amount must be Rs. 1500 and the maximum amount Rs. 4000. In a month, you can get a maximum of 500 points.
Besides this, here you get 1 point for every Rs. 250 spent on other different categories. You can also get here milestone benefits if you use this card to spend Rs. 1.25 lakhs within six months. Here you get six PVR tickets or 1200 reward points as your wish.
Who Should OPT For This Credit Card?
If you are a common man who wants cashback and reward points on your daily spend and expenditure, then this card is a perfect choice for you. Here on this card, you don’t get any luxurious features or premium benefits, but only you get a discount on your essential goods. So if you are looking for a daily use credit card, then you should go for it.
What Makes This Credit Card Better From Other Credit Cards?
Another important question that comes to your mind is that you should choose this card instead of 1000 of another credit card. So, the answer is this card gets you a reward for your daily essential product. Besides this, the fees are also quite affordable on this card. So in a word, we can say this is a budget credit card that gives you facilities in your regular life that’s why it can beat almost every credit card available in the market with that same feature.
Features And Benefits
This is the segment that can help you to decide that you should issue this card or not. You can join the service by paying just Rs. 1499, and after that, you get started with all kinds of features and benefits.
1. Discount Benefit
If you use this card on your grocery bill and departmental store, you get a minimum of 10% off on your total bill. But in this case, your transaction must be in between. 1500- 4000 and in a month you only get Rs. 500 off.
2. Extra Savings On Grocery And Departmental Store
On every spend of Rs. 100 every time on the grocery bill and departmental store. Here you get 10 savings points every time.
3. Daily Shopping Benefits
If you use this card on departmental stores, online shopping, you can earn reward points every day. If your transaction amount is between Rs.1500-4000, you can get 10 reward points every day, which is a huge amount as here 1 reward point is equal to Rs.1. moreover, you can earn up to 500 reward points in a single month by using this feature.
4. Extra Savings Benefits
Till now, we saw how you get reward points by shopping from departmental and grocery stores, but here you can also get reward points from another category. On every Rs.250 in the different categories, you can earn 1 reward point every time.
5. Easy Redemption Process
The redemption process of the reward points is straightforward. You can use or redeem the points against cash, movie tickets, airline tickets, mobile recharge, etc., many more places. Here 1 saving point is equal to 2 Easy points.
6. Milestone Benefit
If you use this card to spend Rs. 1.25 lakhs within six months. Here you get six PVR tickets or 1200 reward points as per your wish. But here, you can also redeem your reward points to get 12 complimentary tickets from PVR in a year.
7. BookMyShow Benefit
When you use this card on BookMyShow to purchase some tickets, you get 2 free vouchers from the website. But this offer is only valid for the first 60 days of joining the service.
8. Add-On Card Facility
This is another great feature that you get as a cardholder. By using this now, you can easily operate all your card using a single card. Moreover, here you can set a specific spending limit and track all of your cards separately.
9. Special Priority Service
Here you also get priority service from the bank. The customer service associates with KASSIST and provides these benefits to their cardholders. For this, you have to contact your bank, and they will provide you with this benefit.
10. Contactless Facility
This card provides you with a contactless transaction facility which provides extra security in every transaction. Hereby using this feature, you can pay up to Rs. 2000 without using your pin.
So, this is another very sector that you have to read very carefully before issuing this credit card. In this segment, we talk about all kinds of charges that you have to pay at the time of joining or in the future after joining.
Eligibility And Required Documents
If your age is between 21-65 years, you are eligible to apply for this card. Here is the table where we discuss the eligibility criteria.
How To Apply For This Credit Card?
The application process of this card is straightforward. You can apply it both online and offline. If you want to apply for this card, you have to visit the official website of Kotak Mahindra Bank. Here you find the application area and all the guidelines regarding this. Then you have to follow all mentioned steps and fill in all the details regarding this. In this way, you can apply for this card. After it, the Bank officials directly contact you.
Besides this, if you cannot apply online, visit the nearest branch of Kotak Mahindra Bank, where the officials will help you.
1. What is the annual fee of this card?
Yes, the annual fee is Rs. 749, which you have to pay from the second year onwards.
2. What can I do if I lost my card mistakenly?
If you lost your cahen, simply save to contact Kotak Mahindra bank customer to blocking your card services.
3. Can an NRI apply for this card?
No, if you live in India, then only you can apply for this credit card.
4. How much amount can I transaction with the contactless feature?
You can pay up to Rs. 2000 by using the contactless feature.
If you don’t like or afford this card, you have to try these under-mentioned cards, which are almost the same as beneficial and profitable.
So, this is an in-depth review of the Kotak Essential Platinum Credit Card. by reading the whole article, I hope you can clearly understand the advantages and disadvantages of this card. Besides this, you can also be able to understand that you should issue this card or not.
That’s all for today. Thanks for joining. Stay tuned with us for getting such interesting card review articles.