Metro Kotak Credit Card – Benefits, Fees & Eligibility

Introduction

The Metro Kotak Credit Card, issued by Kotak Mahindra Bank in partnership with Metro Wholesale, is a specialized business credit card designed for kirana store owners, hotel/restaurant owners, and caterers who frequently shop at Metro Wholesale. This card stands out with its zero annual fee, offering up to 1% cashback on monthly spends (capped at Rs. 10,000 per statement cycle) and a welcome benefit of Rs. 500 cashback. It is exclusively targeted at those who use Metro Wholesale for their business requirements.

Welcome Benefits

• Earn Rs. 500 cashback on making a single transaction worth Rs. 10,000 or more within the first 30 days of card issuance.

Fees

• Joining Fee: Nil (Lifetime free credit card)
• Renewal Fee: Nil (Lifetime free credit card)
• Spend-Based Waiver: Not applicable as the card is lifetime free.
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: Not applicable as foreign transactions cannot be made using this card.
• Interest Rates: 3.5% per month (42% per annum) on the outstanding balance not paid by the due date.
• Fuel Surcharge Waiver: Not applicable as fuel transactions cannot be made using this card.
• Cash Advance Charges: Rs. 300 for every withdrawal of Rs. 10,000.

Rewards

• Cashback Benefits:
  • 0.25% cashback on spends between Rs. 10,001 and Rs. 30,000 in a month.
  • 0.50% cashback on spends between Rs. 30,001 and Rs. 5 lakhs in a month.
  • 1% cashback on spends above Rs. 5 lakhs in a month.
  • Maximum cashback per statement cycle is capped at Rs. 10,000.
• Movie & Dining: Not applicable.
• Travel: Not applicable.
• Domestic Lounge Access: Not applicable.
• International Lounge Access: Not applicable.
• Golf: Not applicable.
• Insurance Benefits: Not applicable.

Rewards Redemption Guide

• The cashback earned is directly credited to the cardholder’s accounts.

Card Eligibility Criteria

• The age of the primary card applicant should be between 18 years and 65 years.
• The applicant must be a resident of India.
• The applicant should hold a valid Metro Wholesale membership.
• Only self-employed individuals, Proprietors, and Partners of Partnership firms are eligible to apply for this card.
• The income of the applicant/business and their credit score might also be important factors for approval.

Documents Required

• Identity Proof of the applicant, such as Aadhar Card, PAN Card, Voter’s Id, etc.
• Business Registration Certificate.
• Proof of valid Metro membership.
• Business address proof and income proof might also be required.

Card Review

The Metro Kotak Credit Card is an excellent option for eligible business owners, including kirana store owners, hotel/restaurant businesses, and caterers, who primarily conduct their business purchases at Metro Wholesale. Its lifetime free nature and tiered cashback program, offering up to Rs. 10,000 cashback per statement cycle, provide significant savings on business expenses. However, it is a niche card and not suitable for those seeking a multipurpose credit card, as it explicitly excludes international transactions and fuel purchases. For businesses dedicated to Metro Wholesale, this card offers substantial value and growth opportunities.

Important Product Details

• Lifetime free credit card with no joining or annual membership fee.
• Exclusively for Metro Wholesale members.
• Introductory benefit of Rs. 500 cashback on specific initial spend.
• Cashback rates range from 0.25% to 1% based on monthly spending tiers.
• Maximum cashback earning is capped at Rs. 10,000 per statement cycle.
• Interest rate is 3.5% per month (42% per annum).
• Cash withdrawal fee is Rs. 300 for every Rs. 10,000 withdrawn.
• Foreign currency transactions and fuel purchases are not applicable to this card.

Other Details

• The card is a co-branded offering from Kotak Mahindra Bank and Metro Wholesale.
• Transactions like international purchases and fuel purchases are not applicable as the card is intended for Metro Wholesale spends only.
• How to Apply:
  • Offline: Visit the nearest Kotak Mahindra Bank branch with all necessary documents and submit a physical application form.
  • Online: Apply through the Kotak Bank website by selecting the 'Metro Kotak Credit Card' and following the application process.