Kotak Mojo Platinum Credit Card
Reward Points
Online Shopping
1st Year Fee: ₹1,000* Plus Applicable Taxes
Lounge Access
Up to 8 free domestic lounge visits per year
Rewards
Up to 2.5 Mojo points per Rs. 100 spent
Fee Waiver
Fee waived on Rs. 1.5 lakh annual spends
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About Kotak Mojo Platinum Credit Card
Kotak Mojo Platinum Credit Card is a rewards credit card which rewards you on every purchase in the form of uncapped Mojo Points, thus allowing you to maximise your earnings based on your spending capacity. With accelerated value-back on online spends and complimentary domestic airport lounge access, this credit card is suitable for frequent online shoppers who wish to make their domestic air travel experience more comfortable. Moreover, while most credit cards offer fuel surcharge waivers, Kotak Mojo Platinum also comes with a railway surcharge waiver of up to 2.5% which adds to the overall savings for domestic travellers. In addition to these benefits, you can also avail bonus rewards as milestone benefits, but they are only offered for the first year. The redemption value of the accrued Mojo Points goes up to Rs. 0.40 which is decent, but still brings the rewards value-back on online spend to just 1%. This rewards structure fails to compete against even lifetime free credit cards like Amazon Pay ICICI and IDFC FIRST Millennia and many low annual fee cards as well.
Note: This Card is not available on Paisabazaar.com. The content on this page is for information only. To express interest in this card, please visit Kotak Mahindra Bank’s website.
Rewards Program
This Kotak credit card lets the users earn uncapped rewards in the form of Mojo points on every Rs. 100 spent as follows:
- 2.5 Mojo points: On online spends
- 1 Mojo point: On all other spends1
Redemption Value:
- 1 Mojo point = Rs. 0.40 for redemption against outstanding balance
- 1 Mojo point = Rs. 0.20 for other redemption options
Redemption Options:
- Kotak Rewards catalogue
- Pay with reward points
- Outstanding statement by calling customer care3
Other Features & Benefits
Milestone Benefits:
- 2,500 Mojo points per quarter on reaching quarterly spends of Rs. 75,000, applicable for the 1st year only
Airport Lounge Access:
- 2 complimentary visits to DreamFolks lounges in India per quarter4
Fee Waivers:
- Joining fee: On spending Rs. 30,000 within the first 90 days of card issuance
- Annual fee: On spending Rs. 1 lakh in a year
Surcharge Waivers:
- Fuel: 1% fuel surcharge waiver, up to Rs. 3,500 per year, on fuel spends of Rs. 500 to Rs. 3,000
- Railway: 1.8% railway surcharge waiver on spends made on IRCTC website and 2.5% on spends made on Indian Railways booking counters5
| Particulars | Amount | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Joining/Annual Fee | Rs. 1,000 + applicable taxes | ||||||||||||
| Finance Charges | 3.75% p.m. (45% p.a.) | ||||||||||||
| Late Payments Fees |
|
Things to Know Before you apply
Get this card if:
You want a basic rewards credit card with domestic lounge benefits
You do not or rarely travel internationally, or already have another card for such transactions
You do not mind the absence of any lifestyle benefits on categories like movies, dining, etc.
Eligibility Criteria:
Age: 21 to 65 years
Min. net income: Rs. 4 lakh per annum
Nationality: Resident of India
Paisabazaar Review
What do we like about this card?
Kotak Mojo Platinum credit card offers accelerated rewards on online transactions so those who frequently shop online can accrue higher number of reward points. Moreover, since there is no capping on rewards, cardholders can truly maximise their value-back earnings without any limitations even if they make big ticket purchases. The earned rewards can later be redeemed against not only the rewards catalogue, but also for statement credit. Complimentary visits to DreamFolks airport lounges enhance the travel experience and the fee waiver conditions can be easily achieved even by low-spenders.
Pros
- Accelerated rewards on online spends
- Complimentary domestic airport lounge access
- Low spending conditions for joining and annual fee waivers
- Railway and fuel surcharge waivers
Cons
- Low reward redemption rates
- Milestone bonus applicable only for the 1st card membership year
- No significant lifestyle benefits besides rewards
Footnotes
- A minimum of 2,500 Mojo points are required to carry out redemption through customer contact centre
- Subject to spending a minimum of Rs. 60,000 in a quarter for cardholders with the lifetime free card variant
- Railway surcharge waiver is capped at Rs. 500 per year
Click here to know More Terms and Conditions
Lepakshi Phogat
Lepakshi is a content writer specialising in personal finance and credit cards. She translates complex financial concepts into practical advice, helping readers make informed financial decisions. Whether it is helping them choose the right credit card or offering strategies to build their credit score, she writes to make personal finance less intimidating and more empowering.
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