Kotak Corporate Platinum Credit Card – Benefits, Fees & Eligibility

Corporate Platinum Credit Card

The Kotak Corporate Platinum Credit Card is designed for privileged corporate usage, offering exceptional benefits and high reward points on transactions. It aims to simplify corporate expenses for employees and provide companies with enhanced control and savings opportunities.

Welcome Benefits

• Not explicitly mentioned on the webpage.

Fees

• Fuel Surcharge Waiver: Applicable only on Paid Annual Fee Variant.
• Railway Surcharge Waiver: Applicable only on Paid Annual Fee Variant.
• No extra charge for replacing a damaged, lost, or stolen card.

Rewards

General Rewards

• Earn higher Reward Points every time you transact.
• Universal Acceptability: Accepted by over 10 million merchants across the globe.
• Digital currency for consumers, businesses, banks, and government.

Travel Benefits

• Fuel Surcharge Waiver:
  • Applicable on transactions between Rs. 500 and Rs. 3000.
  • Maximum waiver of Rs. 3500 in a calendar year.
  • Note: This feature is applicable only on the Paid Annual Fee Variant.
• Railway Surcharge Waiver:
  • Applicable for transactions on www.irctc.co.in and at Indian Railways Booking Counters.
  • Maximum waiver of Rs. 500 in a calendar year.
  • Note: This feature is applicable only on the Paid Annual Fee Variant.
• Airport Lounge Offer:
  • Get access to airport lounges with the VISA airport lounge offer.
  • Receive 2 complimentary accesses per calendar quarter for the primary cardholder only.
• Hassle-free Spends:
  • Eliminate the need for cash advances as the company covers employee spends.
  • Hassle-free spending without carrying foreign currency (Forex).
  • Employees are not required to maintain records like vouchers or travel tickets.

Corporate & Expense Management Benefits

• Ease for Employees:
  • No worries about late payment fees or individual dues; the corporate pays.
  • Employees can spend on the corporate card, and the corporate will settle the payment.
• Power to Company:
  • Monitor employees' spending patterns.
  • Increased control over corporate expenditures.
  • Opportunities for savings and budgeting.
  • Reduced company operational costs.
• Interest-Free Funds:
  • Enjoy interest-free utilization of funds.
  • Receive up to 48 days interest-free credit period.
  • This feature is similar to an overdraft facility on credit cards.
• Decide Your Own Limits:
  • A single company limit is assigned to the corporate.
  • Corporates have the flexibility to set individual card limits for employees.
  • Limits can vary based on hierarchy, designation, or employee's specific needs.
• Ease of Expense:
  • The Kotak Corporate Card can be swiped for various business-related expenses.
  • Examples include exhibitions, conferences, business and executive meetings, sales meets, receptions and reunions, and association meetings.
• Consolidated Payment:
  • Only one consolidated payment is required for all employee cards under the company.
  • No individual payments need to be made by employees.
  • The employer holds the power of payment for all cards.
• Email Statement:
  • Monthly employee statements are sent for reference.
  • Option to choose email statements for convenience.
• Expense Management:
  • Vendor-wise tracking of spends done by employees.
  • Ability to budget expenses based on corporate card usage.
  • Statistical data provided for in-depth analysis of expenses.
  • Detailed analysis available on the amount spent by each employee.
  • Data can be retrieved to see which employee has spent where and how much.
• Travel Adherence:
  • Ensures employees adhere to travel or expense policies.
  • Prevents fraudulent claims by employees.
  • Reduces slippages during the claiming or reimbursing process.
  • Provides insights on whether employees are spending with registered vendors.
• Dedicated Service Manager:
  • Personalized service provided to all corporate card members.
  • Quick information available on card details, card limits, and in cases of a lost/stolen card.
• Program Administrator:
  • The Program Admin acts as an intermediary between Kotak and the company.
  • All queries related to payment due date, total due, damaged card, or lost card can be managed through a single point of contact.
• Real-Time Alerts:
  • Receive free SMS alerts on all transactions for safety and security.
  • Receive free email alerts on all transactions.
• Free Card Replacement:
  • Corporate cards can be replaced free of charge if damaged, lost, or stolen by contacting customer service.

Rewards Redemption Guide

• Redeem your accumulated points by calling the customer service desk.
• Points can be redeemed every quarter.
• Cash rebate for redeemed points will be disbursed through a demand draft.

Important Product Details

• Positive Highlights:
  • High reward points potential.
  • Convenient and easy rewards redemption process.
  • Waivers on fuel and railway surcharges (subject to conditions).
  • Complimentary airport lounge access for primary cardholders.
  • Provides interest-free funds for up to 48 days.
  • Offers universal acceptability for global transactions.
  • Empowers companies with strong expense management tools and control over employee spending.
  • Includes features like consolidated payment, email statements, and real-time transaction alerts.
  • Dedicated service manager and program administrator for support.
  • Free card replacement for damaged, lost, or stolen cards.
  • Simplifies expense processes for employees by eliminating cash advances and record-keeping.
• Negative Highlights / Limitations:
  • Fuel and railway surcharge waivers are only applicable on the "Paid Annual Fee Variant" of the card, implying that a fee might be associated to avail these benefits.
  • Cash withdrawal feature is not active on the card.

Other Details

• For Most Important Terms & Conditions (MITC) and Card Holders Agreement, refer to the provided link on the Kotak website.
• The card is primarily for official purposes; however, usage for personal expenses depends entirely on the corporate's policy. Any personal spends on a corporate card will be included in the consolidated bill and must be settled between the employee and the company.
• To apply for the card or get an application form, send an email to service.corporatecard@kotak.com with details including the name of your entity, contact person's name, contact details, and the number of cards required.
• The status of your application can be checked online by visiting Kotakcards.com, navigating to 'Apply online', and then 'Check online Application status'.