Myntra Kotak Credit Card – Benefits, Fees & Eligibility

Myntra Kotak Credit Card

Introduction

The Myntra Kotak Credit Card, a co-branded offering from Kotak Mahindra Bank and Myntra, was designed specifically for young fashion enthusiasts and frequent shoppers on Myntra, one of India's leading e-commerce fashion companies. This card provided exclusive cashback on Myntra purchases and transactions with other partner brands. Cardholders also received a complimentary Myntra Insider membership and a Rs. 500 Myntra welcome voucher. Additionally, the card offered benefits like complimentary lounge access and milestone rewards.

Note: As of July 10, 2025, the Myntra Kotak Credit Card has been discontinued. Furthermore, Kotak Bank is currently not issuing any new credit cards due to RBI guidelines.

Welcome Benefits

• A Myntra voucher worth Rs. 500 is provided upon activating the card and making at least one transaction of Rs. 500 or more within 30 days of card issuance.
• The welcome voucher is delivered to the cardholder via SMS or email within 30 days of meeting the activation criteria and can be utilized for discounts on Myntra.

Fees

• Joining Fee: ₹500 + GST
• Renewal Fee: ₹500 + GST
• Spend-Based Waiver: The renewal fee can be waived if you spend Rs. 2 Lakhs or more in the previous year.
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 3.5% of the transaction amount.
• Interest Rates: 3.7% per month, equating to 44.4% per annum.
• Fuel Surcharge: 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000.
• Cash Advance Charges: 2.5% of the cash withdrawn, with a minimum charge of ₹500.
• Add-on Card Fee: Rs. 299.
• Card Replacement Fee: Rs. 200.

Rewards

• Best Suited For: Shopping and Food.
• Reward Type: Cashback.
• Instant Discount on Myntra Spends:
  • Get an instant 7.5% discount on all purchases made on the Myntra website or mobile application.
  • The discount is capped at a maximum of Rs. 750 per transaction.
• Cashback on Preferred Partners:
  • Earn 5% cashback on spends at preferred partner brands including Swiggy, Swiggy Instamart, Cleartrip, Urban Company, and PVR.
  • This cashback is capped at Rs. 1,000 per month.
• Base Cashback:
  • Receive an unlimited 1.25% cashback on all other online and offline spends.
• Domestic Lounge Access:
  • Enjoy 1 complimentary domestic airport lounge access per quarter.
  • Lounge privileges include comfortable seating, gourmet meals, newspapers and magazines, free WiFi, and widescreen TVs.
• Movies (Milestone Benefit):
  • Get 2 complimentary PVR movie tickets, each valued at Rs. 250, upon spending Rs. 50,000 or more in a calendar quarter.
  • Note: Wallet reloads, rent, and fuel spends are not counted towards this milestone benefit.
• Fuel Surcharge Waiver:
  • A 1% fuel surcharge waiver is applicable on transactions ranging from Rs. 500 to Rs. 3,000.
  • The maximum fuel surcharge waiver benefit is Rs. 3,500 per year.
  • Please note that fuel spends are not eligible to earn cashback.
• Lifestyle (Myntra Insider Program):
  • The credit card offers a complimentary membership to the Myntra Insider program.
  • Cardholders are onboarded as a "Select Member" of the program within 7 days of credit card issuance.
  • To maintain the "Select Member" tier, cardholders need to spend a minimum of Rs. 7,000 and place at least 5 orders on Myntra annually.
  • Benefits of the Myntra Insider program include early access to sales and offers, free shipping, exclusive savings, Supercoins, and other privileges.

Rewards Redemption Guide

• All cashback earned by the cardholder is automatically credited to the credit card statement.

Card Review

The Myntra Kotak Credit Card was an excellent choice for young individuals and fashion enthusiasts who frequently shopped on Myntra and utilized its preferred partners. It provided significant value through its instant discounts on Myntra, cashback on a range of popular partner brands like Swiggy and PVR, and a decent base cashback rate on other expenditures. The added perks like complimentary domestic lounge access and PVR movie tickets for reaching spending milestones further enhanced its appeal. The complimentary Myntra Insider membership also offered a host of exclusive benefits.

However, a notable drawback for some users was that the 1.25% cashback on UPI transactions was only applicable for transactions of Rs. 2,000 or more, meaning smaller UPI transactions did not accrue cashback. Additionally, certain categories like wallet reloads, rent, and fuel were excluded from earning cashback or contributing to milestone benefits.

While the card offered a valuable proposition, especially with limited-time offers of zero joining fees and annual fee waivers, it is important to note that the Myntra Kotak Credit Card has been discontinued as of July 10, 2025. Furthermore, Kotak Mahindra Bank is currently not issuing any new credit cards as per RBI guidelines. Therefore, this card is no longer available for new applications.

Important Product Details

• Positive Highlights:
  • Rs. 500 Myntra voucher as a welcome benefit upon first transaction of Rs. 500+ within 30 days.
  • 7.5% instant discount on Myntra spends, capped at Rs. 750 per transaction.
  • 5% cashback on popular partner brands (Swiggy, Swiggy Instamart, Cleartrip, Urban Company, PVR), capped at Rs. 1,000 monthly.
  • Unlimited 1.25% cashback on other online and offline spends.
  • Complimentary Myntra Insider program membership, offering early access to sales, free shipping, and more.
  • 1 complimentary domestic airport lounge access per quarter.
  • 2 complimentary PVR movie tickets (worth Rs. 250 each) on quarterly spends of Rs. 50,000 or more.
  • Renewal fee waiver on annual spends of Rs. 2 Lakhs.
  • 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000 (maximum Rs. 3,500 per year).
  • No rewards redemption fee.
• Negative Highlights/Exclusions:
  • Discontinued as of July 10, 2025.
  • New applications for Kotak credit cards are currently not being issued due to RBI guidelines.
  • Cashback is not applicable on wallet reloads, rent, and fuel spends.
  • Cashback earned on transactions will be reversed if the transaction is later converted into EMI.
  • UPI transactions only accrue 1.25% cashback on spends of Rs. 2,000 or more.
  • Foreign currency markup is 3.5%.
  • High interest rate of 3.7% per month (44.4% per annum).
  • Cash advance fee of 2.5% (minimum ₹500).
  • Add-on card fee of Rs. 299.
  • Card replacement fee of Rs. 200.

Other Details

• The card was generally considered suitable for individuals focused on online shopping and dining.
• A limited-time offer previously allowed customers to get the Myntra Kotak Credit Card with zero joining charge and an annual fee waiver for a period of three years, provided they applied through the Myntra Mobile App and were pre-qualified.
• If an item bought through this card is returned, the cashback/points earned on that transaction will likely be reversed.
• The interest rate on this credit card is highly unlikely to change frequently.
• The card can be linked to online payment platforms such as Paytm or Google Pay.
• In case of a lost card, a replacement card would typically be received within 10 to 12 days.