KVB Platinum Credit Card Review

General Information

Rewards and Benefits

Fees and Charges

Summary

- Earn 500 bonus reward points as a sign-up bonus - Receive 2 reward points for every Rs 150 spent on domestic travels, international travel, and air tickets - Get 1.5X reward points for every Rs 150 spent on restaurants, medical bills, insurance, rail tickets, movie ticket booking, and car rentals - No charges for joining the program - Enjoy a 1% waiver on fuel surcharge at petrol stations in India - Convert your purchases into easy monthly installments (EMI)

I recently acquired the KVB Platinum Credit Card and I must say, it has proven to be an excellent choice for my shopping needs.

This credit card boasts a joining fee of Nil, which is a great perk right from the start.

The renewal fee is set at Rs. 599 plus GST, which is reasonable considering the benefits it offers.

One of the standout features of this card is its reward type, which is Reward Points.

As a loyal customer, I appreciate being rewarded for my spending.

And to sweeten the deal, I received 500 bonus reward points as a welcome benefit upon payment of the membership fees.

When it comes to shopping, this card really excels.

I earn 2 reward points for every Rs. 150 spent on domestic and international travel, hotels, and air tickets.

Additionally, I earn 1.5X reward points for every Rs. 150 spent on restaurants, medical bills, insurance, rail tickets, movies, and car rentals.

This makes it a perfect companion for my shopping endeavors.

While this card doesn't offer specific benefits for movies and dining, its focus on shopping more than makes up for it.

As for travel, there are no specific advantages in terms of lounge access or golf privileges, but for someone like me who mainly uses a credit card for shopping, this is not a major setback.

Furthermore, this card provides a spend-based waiver, where the annual fee can be waived off if I spend Rs. 1 lakh or more in a year.

This is a great incentive to keep using the card and enjoy its benefits without worrying about hefty renewal fees.

In terms of fees, there is a rewards redemption fee of Rs. 99, which is reasonably priced.

The foreign currency markup is set at 3.5%, which is standard for most credit cards.

Additionally, the interest rate is 3.25% per month (39% p.a), which is slightly on the higher side.

However, if used responsibly, this shouldn't be a major concern.

For those who frequently refuel their vehicles, the KVB Platinum Credit Card offers a fuel surcharge waiver of 1% on transactions between Rs. 500 and Rs. 4000 at petrol stations in India, with a maximum discount of Rs. 200 per billing cycle.

This is definitely a welcome benefit and helps to save some extra money.

It's worth noting that cash advances come with a charge of 2% on the withdrawal amount, subject to a minimum charge of Rs. 100.

While this is common with most credit cards, it's important to be mindful of this when using the card for cash withdrawals.

Overall, the KVB Platinum Credit Card is a great choice for shopping enthusiasts like me.

Its rewarding benefits, coupled with the waiver of annual fees and fuel surcharge, make it a worthy addition to anyone's wallet.