Kotak Mojo Platinum Credit Card – Benefits, Fees & Eligibility

Introduction

The Kotak Mojo Platinum Credit Card, issued by Kotak Mahindra Bank, is positioned as a mid-range offering designed to provide rewarding experiences primarily for shopping and travel. Its key differentiating benefits include a robust Mojo Points rewards program that allows redemption against various categories and even outstanding statements, complimentary domestic airport lounge access, and attractive gift vouchers upon achieving milestone spends. The card also offers significant savings through spend-based joining and renewal fee waivers, making its affordable annual fee worthwhile.

Welcome Benefits

• Gift vouchers worth Rs. 1,000 on achieving the milestone spend.
• Get gift vouchers worth Rs. 2,500 on spending Rs. 75,000 or more in a quarter, applicable for the first year only.
• Alternatively, earn 2500 Mojo points every quarter on spending Rs. 75,000, valid for the first year (since issuance) only.
• Effective 1st June 2025, spends on Utility, Wallet Load, Fuel, Online skill-based gaming, Insurance, Government, Rent, and Education will not be considered when calculating milestone benefits.

Fees

• Joining Fee: Rs. 1,000 + GST
• Renewal Fee: Rs. 1,000 + GST
• Spend-Based Waiver:
  • The joining fee is waived off on spending Rs. 30,000 or more within the first 90 days after card issuance. Eligible customers will receive the joining fee waiver within 90-120 days from card issuance.
  • The renewal fee is waived off on spending Rs. 1 lakh or more in the previous year/annually.
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 3.5% of the total amount transacted in a foreign currency.
• Interest Rates: 3.75% Per Month (45% Annually)
• Fuel Surcharge Waiver:
  • A 1% fuel surcharge waiver is applicable across all fuel stations for transactions between Rs. 500 & Rs. 3,000.
  • The maximum benefit through fuel surcharge waiver is capped at Rs. 3,500 per year/anniversary year.
  • Effective 1st June 2025, a 1% fuel surcharge waiver is applicable on transactions ranging between ₹500 and ₹5,000.
  • Fuel transactions are not eligible to earn any Mojo points.
• Cash Advance Charges:
  • 2.5% or a Minimum of ₹500 (whichever is higher).
  • Rs. 300 for every withdrawal of Rs. 10,000.
• Railway Surcharge Waiver:
  • Save 1.8% for transactions on irctc.co.in.
  • Save 2.5% for transactions on Indian Railways Booking Counters.
  • The maximum railway surcharge waiver allowed is Rs. 500 per calendar year/anniversary year.
• Add-on Card Fee: Rs. 299

Rewards

• Reward Type: Mojo Points.
• Rewards Rate:
  • Earn unlimited 2.5 Mojo points for every ₹100 on online spends.
  • Earn unlimited 1 Mojo point for every ₹100 on all other spends (offline spends).
  • Earn 5x Mojo Points on KayMall spends.
  • Exclusions: Mojo points cannot be earned on wallet load, fuel, rent, and online skill-based gaming spends.
  • Caps on reward earnings (effective 01st June 2025):
    • Mojo points can be earned only on education and insurance spends up to ₹70,000 per statement cycle each.
    • Mojo points can be earned only on utility expenses up to ₹50,000 per statement cycle.
    • Mojo points can be earned only on government expenses up to ₹40,000 per statement cycle.
• Travel Benefits:
  • Get 2 complimentary domestic airport lounge accesses every quarter (total 8 per year) to select lounges within India, including gourmet meals and much more.
  • Effective 1st June 2025, customers need to spend ₹75,000 or more in a calendar quarter to enjoy 2 Airport Lounge accesses in the next calendar quarter.
• Insurance Benefits:
  • Insurance cover worth Rs. 1.25 lakhs against unauthorized transactions on a lost/stolen card.
  • If your credit card is lost/stolen, you get an insurance cover worth Rs. 1.25 lakhs against any fraudulent usage of your card.
• Other Benefits:
  • Priority Attend: SMS "KASSIST" to 5676788 to receive a call back within two hours for assistance with monthly dues or other queries.
  • Complimentary cheque pickup for bill payments.
  • Enhanced Security: Embedded EMV Chip and 6-digit PIN authentication for higher security of transactions.
  • Visa payWave enabled for contactless payments.
  • Add-on Card: Set spend limits, track spends separately, available for a fee of Rs. 299.

Rewards Redemption Guide

• Mojo Points can be redeemed through the Kotak Rewards portal for mobile recharges, travel bookings, shopping, e-vouchers, movie tickets (BookMyShow), and more.
• Redemption Value:
  • 1 Mojo Point = ₹0.25 when redeemed across shopping, travel, and lifestyle categories on the Kotak Rewards platform.
  • For cash value redemption, 1 Mojo Point = ₹0.20, with a minimum of 2,000 points required to initiate redemption.
  • Mojo Points can be redeemed against the outstanding statement at a rate of 1 Mojo Point = Re. 0.40.
• Cashback redemption must be requested via customer care and is subject to the revised lower value.
• Mojo Points are valid for 1 year/12 months from the date they are earned, so it’s important to track and redeem them in time.
• Redemption is available through multiple channels, including the Kotak mobile app, website, and customer care.

Card Eligibility Criteria

• The age of the applicant (primary cardholder) should be between 21 years and 65 years.
• The applicant should be a resident of India.
• The net annual income of the applicant should be 4 lakhs or more.
• Documents Required:
  • Proof of Identity: PAN Card, Aadhar Card, Driving License, Passport, Voter’s Id, etc.
  • Proof of Address: Aadhar Card, Ration Card, Latest water/electricity bills, rent agreement, etc.
  • Proof of Income: Latest months’ salary slips/bank statements or latest audited ITR.

Card Review

The Kotak Mojo Platinum Credit Card is considered an essential and affordable credit card that rewards users for almost all their spends. The Mojo Points earned are highly advantageous, especially when redeemed against the outstanding statement at a rate of 1 Mojo Point = Re. 0.40. Cardholders can make the card absolutely free by fulfilling the spend-based joining and renewal fee waiver conditions. The gift vouchers earned under the milestone program provide additional savings. With its reward offers, travel benefits (complimentary lounge access), and saving opportunities (fee waivers, fuel/railway surcharge waivers), it is considered a great choice for individuals seeking such a credit card.

Important Product Details

• Earn 1 Mojo Point on every Rs. 100 spent.
• Get 2.5x Mojo Points on online spends and 5x Mojo Points on KayMall spends.
• Mojo Points are redeemable against the outstanding statement.
• Receive complimentary domestic lounge access every year (2 per quarter, 8 per year).
• Earn gift vouchers worth Rs. 1,000 (or 2,500 Mojo points/vouchers) on achieving milestone spends.
• Benefit from spend-based joining and renewal fee waivers.
• Includes an insurance cover worth Rs. 1.25 lakhs against a lost/stolen card.
• Save more through fuel surcharge waiver and railway surcharge waiver.
• Features an embedded EMV Chip and 6-digit PIN authentication for security.
• Offers a "Priority Attend" service via SMS "KASSIST" for quick callbacks.
• Supports Visa payWave for contactless transactions.
• Add-on card facility available.

Other Details

• The Kotak Mojo Platinum Credit Card is currently discontinued.
• The revisions to Mojo point earnings and milestone benefit calculations (effective 01st June 2025) are based on Merchant Category Codes (MCCs) assigned to merchants by card networks.
• Card activation can be done via internet banking or at an ATM.
• The credit limit is not fixed and varies based on factors like income and credit score; a higher limit can be requested from customer care.
• Earned Mojo Points expire after 1 year from the date of accrual.