Kotak Mojo Platinum Credit Card – Benefits, Fees & Eligibility

Kotak Mojo Platinum Credit Card

Introduction

The Kotak Mojo Platinum Credit Card is designed to elevate your spending experience, offering a host of rewarding features. Issued by Kotak Mahindra Bank, this card provides significant benefits through Mojo Points, which can be redeemed across various categories like shopping, travel, and even against your outstanding statement. Cardholders earn accelerated rewards on online and KayMall purchases, along with milestone gift vouchers and complimentary domestic airport lounge access, making it a compelling choice for individuals seeking a feature-rich and affordable credit card. The card also offers multiple avenues for savings, including fee waivers and surcharge benefits, ensuring its annual fee provides considerable value.

Welcome Benefits

• Get your Joining fees of Rs. 1,000 waived on spending Rs. 30,000 in the first 90 days after card issuance.
• All eligible customers will receive the joining fee waiver within 90-120 days from card issuance.

Fees

• Joining Fee: ₹1,000 + GST
• Renewal Fee: ₹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.
  • The annual/renewal fee is waived off on spending Rs. 1 lakh or more in the previous anniversary year.
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 3.5% of the transaction amount.
• Interest Rates: 3.75% Per Month (45% Annually)
• Fuel Surcharge Waiver:
  • 1% fuel surcharge waiver is applicable on transactions ranging between Rs. 500 and Rs. 5,000 (effective June 1, 2025).
  • A maximum fuel surcharge waiver of Rs. 3,500 can be availed annually.
  • Fuel transactions are not eligible to earn Mojo points.
• Railway Surcharge Waiver:
  • Save railway surcharge of 1.8% for transactions on www.irtc.co.in.
  • Save railway surcharge of 2.5% for transactions on Indian Railways Booking Counters.
  • The maximum railway surcharge waiver allowed in an anniversary year is Rs. 500.
• Cash Advance Charges: 2.5% or a Minimum of ₹500 (whichever is higher).
• Add-on Card Fee: Rs. 299.

Rewards

Reward Points Earnings

• Earn unlimited 2.5 Mojo points for every Rs. 100 on online spends.
• Earn unlimited 1 Mojo point for every Rs. 100 on all other spends, except on fuel and cash withdrawal.
• Effective June 1, 2025, the following changes apply to Mojo point earnings:
  • Mojo points can only be earned on education and insurance spends up to ₹70,000 per statement cycle each.
  • Mojo points can only be earned on utility spends up to ₹50,000 per statement cycle.
  • Mojo points can only be earned on government spends up to ₹40,000 per statement cycle.
  • Mojo points earnings against Wallet Load, Fuel, Rent & Online skill-based gaming Spends will be discontinued.
• Mojo points are valid for 1 year (12 months) from the date of accumulation.

Milestone Benefits

• Get 2500 Mojo points every quarter on spending Rs. 75,000. This benefit is valid for the first year (since issuance) only.
• Effective June 1, 2025, spends on Utility, Wallet Load, Fuel, Online skill-based gaming, Insurance, Government, Rent, and Education will not be considered when calculating milestone benefits.

Travel Benefits

• Domestic Lounge Access: Get 2 complimentary domestic airport lounge accesses every quarter (up to 8 per year).
  • To enjoy these 2 airport lounge accesses in a calendar quarter, customers need to spend ₹75,000 or more in the previous calendar quarter (effective June 1, 2025).
• Railway Surcharge Waiver:
  • 1.8% waiver on www.irtc.co.in.
  • 2.5% waiver on Indian Railways Booking Counters.
  • Maximum waiver of Rs. 500 per anniversary year.

Insurance Benefits

• An insurance cover worth Rs. 1.25 lakhs is provided against unauthorized transactions on a lost/stolen card.

Rewards Redemption Guide

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

Card Eligibility Criteria

• Age: The age of the primary applicant should be between 21 years and 65 years.
• Residency: The applicant should be a resident of India.
• Income: The net annual income of the applicant should be Rs. 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 option that provides rewards for nearly all types of spending. Its Mojo Points system is particularly advantageous, offering redemption against various categories and allowing for cash value redemption. The card allows for significant savings through spend-based waivers on both joining and renewal fees, potentially making it free to hold. Additionally, the milestone gift vouchers provide further value. With its comprehensive reward structure, domestic lounge access, and various saving opportunities (including fuel and railway surcharge waivers), this card is a great choice for individuals looking for a well-rounded credit card for shopping and travel. However, it's important to note the caps on reward earnings for specific categories and the discontinuation of points on certain spend types from June 1, 2025, as well as the first-year limitation on milestone benefits.

Important Product Details

• Earn unlimited 2.5 Mojo points for every ₹100 on online spends.
• Earn unlimited 1 Mojo point for every ₹100 on all other spends (with exceptions).
• Effective June 1, 2025:
  • Mojo points limited to ₹70,000/statement cycle on education and insurance spends.
  • Mojo points limited to ₹50,000/statement cycle on utility spends.
  • Mojo points limited to ₹40,000/statement cycle on government spends.
  • No Mojo points earned on Wallet Load, Fuel, Rent & Online skill-based gaming.
• Mojo Points can be redeemed via the Kotak Rewards portal for mobile recharges, travel, shopping, e-vouchers, and movie tickets (BookMyShow).
• Redemption Value: 1 Mojo Point = ₹0.25 for categories; 1 Mojo Point = ₹0.20 for cash value redemption (minimum 2,000 points).
• Mojo Points are valid for 12 months from the date of accumulation.
• Get 2500 Mojo points every quarter on spending Rs. 75,000 (valid for the first year only).
• Enjoy 2 complimentary domestic airport lounge accesses every quarter, subject to spending ₹75,000 in the previous quarter (effective June 1, 2025).
• Joining fee (₹1,000 + GST) waived on spending Rs. 30,000 in the first 90 days.
• Annual fee (₹1,000 + GST) waived on spending Rs. 1 lakh annually.
• 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 5,000, capped at Rs. 3,500 annually.
• Railway surcharge waiver up to Rs. 500 annually.
• Insurance cover worth Rs. 1.25 lakhs against unauthorized transactions on a lost/stolen card.
• Foreign currency markup fee of 3.5%.
• Interest rate of 3.75% per month (45% annually).
• Cash advance charges of 2.5% or a minimum of ₹500.
• Add-on card available for Rs. 299.

Other Details

Priority Attend

• To receive a callback within two hours, SMS "KASSIST" to 5676788.
• Complimentary cheque pickup service is available to help pay monthly dues easily.

Add-on Card

• Cardholders can set desired spend limits for Add-on Card(s).
• Spends for each Add-on Card can be tracked separately.
• An Add-on Card can be applied for a fee of Rs. 299.

Safety Features

• The card is embedded with an EMV Chip for enhanced security.
• Transactions are secured with 6-digit PIN authentication.