Kotak 811 #DreamDifferent Credit Card

The key features and benefits of this Kotak Mahindra Bank Credit Card are given below:

Rewards Program

• 4 reward points per Rs. 100 spent online
• 1 reward point per Rs. 100 spent offline

Exclusions: Fuel, railways, EMIs and cash withdrawal spends will not accrue any reward points

Milestone Benefits

Here, the RuPay cardholders will receive either one of the vouchers worth Rs. 250 or Rs. 1,000, depending on their annual spends.

Surcharge Waivers

• Fuel: 1% on fuel spends of Rs. 500 to Rs. 4,000, up to Rs. 3,500 per year
• Railways: 1.8% on spends made on irctc.co.in and 2.5% on Indian Railways booking counters, up to Rs. 500 per year

Other Features & Benefits

• Cash Withdrawal: Cash withdrawal worth up to 90% of the credit limit is available with no interest charged up to 48 days of withdrawal.
• Balance Transfer: Instant access to balance transfer facility by calling Kotak Mahindra customer service with interest free period continued on new retail spends

Suggested Read: Best Secured Credit Cards in India

Kotak 811 Dream Different Credit Card is a secured card that comes at zero annual costs and offers accelerated value-back on online spends in the form of reward points. Available in both Visa and RuPay variants, where the latter allows the users to make UPI transactions as well, this card also comes with 48 interest-free days on cash withdrawals. Suitable for new-to-credit customers, this credit card also offers milestone bonuses on easy to reach spend-based conditions.

Get this card if:

• You are new to credit or have a low credit score and wish to build your credit profile
• You favour online shopping over offline purchases
• You can maximise your value-back by unlocking milestone bonuses
• You want a secured card that does not charge any annual fee

Look for other card options if:

• You have a decent credit score or are eligible for unsecured credit cards
• You prefer getting direct cashback as value-back on your spends
• You do not mind paying card fee to get access to better value-back benefits

The eligibility criteria for this Kotak Mahindra secured credit card is as follows:

• Age for Primary Card: 18 to 75 years
• Age for Add-on Card: 18 years and above
• Fixed Deposit Amount: Rs. 10,000 and above
• Nationality: Indian resident

Note: Only individual TDs (term deposits) are eligible and only offline application process is available for NRI customers.

Click here for the detailed fees and charges, along with other Kotak credit card terms and conditions.

Can I get this card issued against a joint Term Deposit account?
No, you can get this card issued against Individual Term Deposits only. You can only get this credit card against fixed deposit of a minimum of Rs. 10,000.

Will I earn reward points on transactions that I convert into EMI?
No, you will not earn any reward points on transactions converted into EMI. You will also not earn reward points on fuel and railway surcharges.

Can I use Kotak 811 #DreamDifferent Credit Card overseas?
Yes, you may use the Kotak 811 #DreamDifferent credit card overseas or on international websites. However, you will be liable to pay a foreign mark-up fee on it.

How can I increase my Kotak811 Dream Different Credit Card limit?
To increase your credit card limit, you need to increase the amount of your linked FD. The card limit is generally set as a percentage of your FD amount, so by topping up your FD, you can contact the customer care and raise a request for credit limit increase.

How can I repay my Kotak811 Dream Different Credit Card dues, will it be adjusted against my FD?
You can repay your card dues through various modes like net banking, mobile banking, or NEFT/IMPS transfers. Your FD will not be automatically adjusted against your dues unless you default on payments. In case of missed payment, the bank may liquidate your FD to recover the outstanding amount.

What is the minimum credit score required for this card?
There is no minimum credit score required to apply for Kotak 811 Dream Different Credit Card since it is a secured credit card that is issued against an FD. This makes it an ideal option for consumers with no credit history or a low credit score.

How does Kotak 811 Dream Different Credit Card help build my credit score?
This card helps you build and improve your credit score because your credit utilisation and payment history are reported to credit bureaus. This record helps build your credit profile and if you make timely payments and keep your credit utilisation low, you can steadily build a strong credit score, improving your chances of qualifying for unsecured credit cards and loans in the future.

Can I withdraw my FD now that I have received my Kotak811 Dream Different Credit Card?
Yes, you can withdraw your FD after receiving the Kotak811 Dream Different Credit Card. However, doing so will lead to the closure of your card since it is issued against the FD as security.