Kotak bank has launched two new credit cards cashbacks+ for shoppers and air+ for travelers, although neither of these cards has been officially announced yet, they are already listed on the Kotak Credit Card application page.
Firstly let’s talk about cashbacks+
This card is mainly targeted to people who needs cashbacks and rewards on every day spends. It has joining fee/annual fee of Rs. 750, annual fee can be waived of
Reward rate-
- You will get up to 5% Cashback on Online Food Delivery, Grocery, and Entertainment
- You will get 3% cashback on Fuel Spends
- You will get 0.5% Cashback on All Other Eligible Spends
Fuel Surcharge Waiver-
- 1% Fuel Surcharge Waiver for Transactions Between ₹500 and ₹4,000 Up to ₹3,500 Each Year.
Forex Markup- 3.5%
Now let’s talk about air+
This credit card is mainly focusing on travelers, especially those who book through Kotak’s Unbox platform.
Joining and annual fees would be ₹3,000 + GST
Welcome benefit-
2,500 Air Miles as Welcome & Renewal Benefit
Rewards-
5 Air Miles/₹100 Spent for travel bookings Done Through the Kotak Unbox Platform and 2 Air Miles/₹100 Spent on Other Purchases
Fuel Surcharge Waiver-
1% Fuel Surcharge Waiver for Transactions Between ₹400 and ₹7,500 Up to ₹4,500 Each Year
Forex Charges- 2%
Bottom Line:
Kotak’s new Cashback+ and Air+ credit cards cater to two distinct audiences everyday spenders and frequent travelers. Cashback+ offers decent returns on food delivery, groceries, and fuel, making it a budget friendly option for regular expenses. On the other hand, Air+ rewards users with Air Miles, especially for bookings made via Kotak’s Unbox platform, making it more suitable for loyal Kotak customers who travel frequently. While neither card is officially announced yet, both are already live for application offering new options in Kotak’s credit card lineup depending on your lifestyle.