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Credit Card

Karur Vysya Bank offers two types of Credit Cards in partnership with State Bank of India. The cards are called KVB SBI Cards. The KarurVysya Credit card can be used in over 24 million merchant outlets across the globe which also includes 6.5 lakhs merchants located within India.

Features of the cards

Karur Vysya Bank Credit Cards offers various benefits which are mentioned below:

  • Both secured and unsecured type of Karur Vysya Credit card is issued under both variants
  • Karur  Vysya Credit cards are powered by Visa
  • Karur Vysya Credit cards allow credit facility and cash withdrawals
  • Karur Vysya Credit card comes with EMV embossed chip
  • Up to 3 add-on cards can be availed under the variants
  • Karur Vysya Credit card gives key benefits like loyalty rewards, fuel surcharge waiver, flexi-pay option and SMS alerts

Types of Cards

There are two types of credit cards offered by Karur Vysya and one can compare each credit card against their features.

  • KVB SBI Platinum Credit Card – these credit cards are offered by Karur Vysya with premium benefits. The features and benefits of the KVB Platinum cards are as follows:
  • 5 times accelerated cash points (10 points on every Rs. 100) on dining, purchases at departmental stores and international spends.
  • The bank limits the maximum limit on earning the above-mentioned accelerated cash points in a year. A maximum of 40, 000 cash points can be earned in a year under the accelerated cash point scheme.
  • Other conditions implied by the bank state that the reward points earned would not be applicable on fuel transactions.
  • 1 cash points on every other type of spending for every Rs. 100 spent using the card.
  • The cash points can be redeemed against the outstanding credit card bill
  • Rs.3000 gift vouchers which can be redeemed against any of the bank’s retail partners. Theses gift vouchers are offered as welcome benefit and also on completing annual renewal of card.
  • The welcome gift would be payable only after the applicable joining fee is paid on the card. The retail partners where the welcome benefit can be redeemed include Raymond, Lifestyle, Shopper’s Stop and Jabong.com
  • Bonus Spend Reward points on spending Rs.4 lakhs or Rs.5 lakhs on the card in a year. The Spend Rewards can be 1 full fare one-way domestic airline ticket from Indigo Airlines or a gift voucher worth Rs.3000 from any of the bank’s retail partners
  • Discounts of up to 75% at more than 55, 000 hotels worldwide
  • The Visa Platinum Card entails special saving son resort accommodations at top tourist destinations worldwide.
  • 10% savings on chauffeur-driven or self-driven car rentals from Hertz Car Rental Program
  • 20% savings on qualifying rental from Avis
  • Complimentary membership to Priority Pass Program enabling access to airport lounges across more than 600 airports in the world. The cardholder can avail of refreshments, newspaper, TV, Internet access and other facilities at the lounges
  • Access to more than 300 golf courses worldwide with a 30% discount on Green Fee. The list of golf courses includes famous ones across multiple continents.
  • 10% discount on dining at Marriott Hotels in India
  • 15% discount on the Best Available Rate for the day at Ginger Hotels
  • 2.5% fuel surcharge waiver
  • Online card managing facility with SMS alerts and e-statements for convenience in viewing the card transactions
  • Enhanced security through EMV Chip and PIN number which protects against credit card fraud and skimming
  • If there has been a spending of a minimum amount of Rs.2 lakhs in the preceding year, the cardholder is entitled to receive an Anniversary Gift. This gift would be payable only after the annual fee of the card is paid in full.
  • Credit Card Fraud Liability Cover valued at Rs. 1 lakhs is provided for free to the card holder if card loss is reported within a period of 48 hours prior to reporting of the loss and up to seven days subsequent report of card loss.
  • Emergency Card Replacement anywhere in the world is within 3 days of reporting.

Fees and Charges

The following Fees and charges are applicable when customers apply for a Karur Vysya Credit Card:

One Time Joining Fee

Rs.2,999

Annual Fee

Rs.2,999

Interest Free Credit Period

20-50 days (applicable only on retail purchases and if previous months  outstanding balance is paid in full)  

Finance charges or KarurVysya Bank Credit Card Interest Rates

Upto 3.35% p.m. (40.2% p.a.) from the transaction date

Cash Advance limit

Upto 80% of Credit Limit ( Max. 12, 000 / day for Gold & 15, 000 / day for Platinum/Signature Cards

Finance charges for cash advance

Upto 3.35% p.m. (40.2% p.a.) from the date of withdrawal

Statement Retrieval

Rs. 100 per Statement (> 3 months old)

Late Payment

Zero  if due amount ranges from Rs.0 to Rs.200
Rs.100 if due amount ranges from Rs.201 to Rs.500.
Rs.200 is fixed as late payment penalty for bill ranges between Rs.501 and Rs.1000
Rs.500 is charges for due amount ranging from Rs.1001 & up to Rs.10,000
Rs.750 if bill due amount exceeds Rs.10,000

 Overlimit

2.5% of Over limit Amount (Min. Rs.500)

Card Replacement

Rs.100

Foreign Currency Transaction

Conversion mark up: 3.5%

Rewards Redemption Fee

Up to Rs.99

KVB SBI Gold Card

  • a credit card with benefits and privileges on shopping, dining, etc. The features of the card are as follows:
  • 1 cash point on every Rs.100 spent on shopping. The accumulated cash points can be used to pay off the outstanding credit card balance or for purchasing items from the Karur Vysya rewards catalogue.
  • 10 cash points on every Rs.100 spent at departmental stores or on grocery. This is also called the Accelerated Cash Points which enable the cardholder to get up to 2.5 percent of the value of purchase.
  • 2000 cash points on spending Rs.2000 on the card within 60 days of receiving the card
  • The annual renewal fee of Rs.500 will be waived off if there has been a total spending of Rs.75, 000 or more on the card in the previous year.
  • 2.5% fuel surcharge waiver across all petrol pumps on transaction amounts ranging from Rs.500 – Rs.3000. the maximum allowable limit is Rs.100 per month
  • Online card managing facility with SMS alerts and e-statements for convenience in viewing the card transactions
  • The online card managing facility can also be used for three uses which include generating an instant card account summary, hot-listing of lost or stolen credit cards and requesting for generation of a duplicate card statement.
  • A unique facility of Spend Analyzer which can be used to analyze the spending in the last 24 months
  • Enhanced security for online and over-the-phone transactions through One Time Password and instant Transaction Alert message
  • The customer can transfer all his credit card balances to this card for saving purposes
  • The card entitles the cardholder to avail instant short-term loans as and when required
  • Big purchases on the card can be converted inti easy EMIs through the facility of Flexi-Pay
  • The customer can access over 100 merchants over the mobile and pay for any purchases through the credit card
  • The card provides the facility of ‘Encash – Money on Call’ wherein cash can be availed instantly for any requirements
  • The customer can book railway tickets online through the card
  • Documents required for Karur Vysya Bank Credit Card are to be submitted for obtaining the card such as Aadhar Card or Voter ID Card.
  • Utility bills like Telephone or Electricity Bill can be paid online through the card through payment options of ‘Register and Pay’, ‘Visa Bill Pay’, ‘Pay Fast’ and ‘Standing Instructions’
  • The customer can make payments faster and manage them through various facilities like ‘Paynet – online Payment’, ‘Over the Counter OTC’, ‘Locate & Pay’, ‘Visa Credit Card Pay’, ‘Pay Cash’ and ‘NEFT Transfers’.

Fees and Charges

The following Fees and charges are applicable when individuals apply for Karur Vysya Bank Credit cards:

One Time Joining Fee

Rs.499

Annual Fee

Rs.499

Interest Free Credit Period

20-50 days (applicable only on retail purchases and if previous months  outstanding balance is paid in full)  

Finance charges

Upto 3.35% p.m. (40.2% p.a.) from the transaction date

Cash Advance limit

Upto 80% of Credit Limit ( Max. 12, 000 / day for Gold & 15, 000 / day for Platinum/Signature Cards

Finance charges for cash advance

Upto 3.35% p.m. (40.2% p.a.) from the date of withdrawal

Statement Retrieval

Rs. 100 per Statement (> 3 months old)

Late Payment

Zero is card due is less than Rs.200
Rs.100 if due amount more than Rs.200 to less than Rs.500
Rs.200 for amount due that is more than Rs.500 and up to Rs.1000
Rs.500 for credit card amount due exceeding Rs.1000 and not in excess of Rs.10,000
Rs.750 is card outstanding is in excess of Rs.10,000

 Overlimit

2.5% of Over limit Amount (Min. Rs.500)

Card Replacement

Rs.100

Foreign Currency Transaction

Conversion mark up: 3.5%

Rewards Redemption Fee

Up to Rs.99

Value Chart Index

Value Chart Index

The following value chart is drawn illustrating the card benefits assuming certain spending patterns:

Category of Benefit

Details of benefit

Conversion

Absolute value in terms of Rupees

Cash points

Assumed spending of Rs.4000 per month or Rs.48, 000 annually

Cash points earned = 48, 000/100 = 480

120

Accelerated Cash Points

Assumed spending of Rs.4000 per month or Rs.48, 000 annually

Accelerated Cash points earned = 10*(48000/100) = 4800

1200

Fuel

2.5% surcharge on an assumed expense of Rs.3000 on fuel per month

Surcharge benefit earned = 2.5% of (3000*12) =

900

Extravaganza offer

2000 cash points on spending Rs.2000 within 60 days of card issuance

Points earned = 2000

Rs.500 which is the first year fee

Spend based fee waiver

Waiver of annual fee if spending in the previous year is higher than Rs.75, 000

  •  

Rs.500 which is the annual fee

Credit card statement

  • Credit card statement – Karur Vysya Bank provides monthly credit card statements to their customers at the end of each billing cycle and the document would contain a complete list of transactions made using the credit card and any or all add-on cards included in the account. The document also mentions the due amount that must be paid out to pay off the outstanding bill on the credit card account.
     
  • Online payment – The card holder has the option of making payments of the credit card through the online route using Karur Vysya’s net banking service.
Karur Vysya Bank Credit Card
(4/5 ) 2 Reviews
Credit CardCredit Card
5/5

Very good facilities on my credit card

I have been using a Karur Vysya credit card for the last 6 months and the facilities on my credit card are very good. The card has good loyalty points and flexi pay option. My card is eligible for 10 reward points for every 100 rs. This is a highly r..Read more...

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Posted on: Jan 17 , 2017
Credit CardCredit Card
3/5

Happy

I love my Karur Vysya Gold credit card, it has very good benefits. I get 10 Reward Points for every Rs 100 spent on a transaction. So far I am happy with the services.

Male Profile Pic
Posted on: Jan 10 , 2017
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