Kotak Veer Platinum Credit Card Review

General Information

Rewards and Benefits

Fees and Charges

Summary

Earn 3 times the amount of reward points for every Rs. 200 spent on dining, grocery shopping, and other similar expenses. Receive 2 reward points for every Rs. 200 spent on categories apart from dining, grocery, etc. Avail insurance coverage in case of card loss. Enjoy a welcome offer based on your spending within the first 30 days. Obtain an add-on card and access additional benefits.

The Kotak Veer Platinum Credit Card is a compelling option for shoppers.

With an attractive join fee of Nil and a renewal fee of Rs. 299 + GST, this card offers great value.

It is equipped with Reward Points as its reward type, allowing cardholders to unlock exciting benefits.

One of the standout features of this card is the generous welcome benefit.

Upon spending Rs. 500 within the first 30 days of card set-up, users are rewarded with 500 Reward Points.

This serves as a great incentive for new cardholders.

In terms of rewards, the Kotak Veer Platinum Credit Card certainly doesn't disappoint.

For every Rs. 200 spent on grocery shopping, dining, and various other categories, cardholders earn 6 Reward Points.

Additionally, 2 Reward Points are earned on all other expenses.

These points can be accumulated and later redeemed for a range of exciting offers and gifts.

The best part is that there is no fee for rewards redemption.

When it comes to insurance benefits, this card offers protection for a lost or stolen card.

This provides cardholders with added security and peace of mind.

Furthermore, the Kotak Veer Platinum Credit Card offers an annual fee waiver if the cardholder spends Rs. 50,000 or more in a year.

This spend-based waiver ensures that users can enjoy the benefits of the card without worrying about heavy fees.

It's important to note that this card does have a foreign currency markup of 3.5% on all foreign transactions.

However, it still remains a convenient option for those who frequently travel abroad or make international purchases.

In terms of interest rates, the Kotak Veer Platinum Credit Card charges 3.5% per month or 42% annually.

While this may seem steep to some, it is in line with the industry standards.

For fuel purchases, this card incurs a 1% surcharge at all fuel stations in India.

Although it is not the most favorable rate, it is still a reasonable offering when compared to other credit cards.

In the event of a cash advance, a charge of Rs. 300 is levied for every Rs. 10,000 withdrawn.

It's worth noting that cash advances should be avoided due to the high fees associated with them.

In summary, the Kotak Veer Platinum Credit Card is a suitable choice for avid shoppers.

With its attractive reward structure, insurance benefits, and annual fee waiver, it offers value to those who spend on a variety of categories.

While there are certain fees and charges to consider, overall, this credit card provides a worthwhile experience for its users.