Why a Credit Card is Important?

Don’t be put off by the term ‘credit’. If used wisely, credit cards are a convenient tool to manage your short-term financing needs. A credit card is a financial tool that lets you borrow a certain sum of money and repay it back later in instalments. An interest is charged only if the credit amount is not repaid within the grace period which usually ranges between 20 to 60 days. Whether you want to make online payments or swipe the card at a restaurant, everything is possible with a credit card. Besides allowing you to borrow funds conveniently, credit cards also offer a host of benefits such as reward points, cashbacks, frequent flyer miles, credit score etc. A credit card is certainly a must-have item in your wallet.

What Are the Benefits of a Credit Card?

Reward Points You can earn reward points with every purchase made using credit cards. Subsequently, the accumulated reward points can be redeemed to make another purchase. Enhances Your Credit Rating Paying back your credit card bills on time is the easiest way to build your credit rating. If you have a high credit score, you can avail loans easily at a low-interest rate. Cash-Backs and Discounts By making purchases through credit cards, you can also earn cash-backs on select purchases. Some merchants also offer special discounts on credit card purchases. Frequent Flyer Miles As a credit card holder, you can earn frequent flyer miles with every air ticket purchase. Ultimately, the frequent flyer miles can be redeemed against the price of another ticket. Universal Acceptance At times, debit cards even from reputed banks may be turned down when you travel abroad. On the other hand, a credit card is universally accepted as a convenient mode of payment across the world.

Why Should you apply for a Kotak Bank Credit Card?

At Kotak Mahindra Bank, we understand the diversity of our customer’s needs. Hence Kotak Bank offers a wide range of credit cards based on your buying preferences. We have categorized our credit card rewards centred on your preferences such as entertainment, shopping, dining, travel and lounge access. Depending on your purchase inclinations, you are free to choose a credit card that earns you extra points on the things that matter the most to you. So go ahead, explore and compare our wide assortment of credit cards in order to find the perfect match. Once you find the right credit card, you will be able to earn as you spend!

What is a Credit Card?

A credit card is a transactional card that enables the holder to make purchases of goods and services or withdraw advance cash on credit. It is issued by banks and financial institutions to bring convenience of payment. Credit cards act as a micro loan tool where the individual makes purchases under the condition of paying off the same within a specific time period. There are no interest payouts if the due amount is paid within a specific time (interest-free period). A custom borrowing limit is pre-set by the issuer and this determines the maximum amount of credit a user can spend from a credit card. Credit card brings users the opportunity to save big through discounts and deals, making it a popular choice.

What is the difference between a credit card and a debit card?

A debit card lets you withdraw money that you have previously deposited into your bank account. It is linked to your account and is offered as an add-on facility by banks and financial institutions. A credit card on the other hand, lets you make spends on the terms of a short term loan. The bank enables you to make transactions to a given limit. Rather than having to make repayments on per use basis, there is a bill generated of the total repayment due at the end of each billing cycle.

Credit Card - Privy League Signature Credit Cards from Kotak Bank

Privy League Signature Credit Card

This credit card is offered exclusively to privy customers of the bank and comes with a choice of lifestyle benefits. This premium Credit Card allows you to earn up to 5X reward points on spends at specific merchant categories. Your reward points can be redeemed against a host of options like movie tickets, air tickets, air miles, shopping and more.

Access to airport lounges through Priority Pass membership

Get 6400 bonus* reward points every quarter

Fuel surcharge waiver at all fuel stations in India

Concierge services

Get protection from unauthorized transactions up to Rs. 2,50,000 per annum

Rewards program (Paid Card)

For every Rs. 100 spent on credit card 5X reward points are earned for special categories and 2X on other retail spends.

Shopper’s Plan
- Earn 5X Reward Points on select categories like apparels, grocery, consumer durable, multi-brand online and, departmental stores
- Earn 2X on all other retail spends

Traveller’s Plan
- Earn 5X Reward Points on select categories like airlines, hotels, duty free, international spends and travel agencies
- Earn 2X on all other retail spends

Value of each reward point is 25 paise

Rewards program (Free Card)

For every Rs. 100 spent on credit card 5X reward points are earned for special categories and 2X on other retail spends.

Shopper’s Plan
- Earn 5X Reward Points on select categories like apparels, jewelry, consumer durable, restaurants, departmental stores
- Earn 2X on all other retail spends

Traveller’s Plan
- Earn 5X Reward Points on select categories like airlines, hotels, restaurants, international spends and travel agencies
- Earn 2X on all other retail spends

Value of each reward point is 25 paise

Reward Redemption

Once you have accumulated reward points depending on your chosen plan, you can redeem them from a range of redemption options like air tickets, 10 000 merchandise, mobile recharge and more through easyrewardz by converting Privy League Credit Card points in to easy points.

You also have an option of auto redemption, wherein every time you accumulate 400 reward points, Rs 100 gets credited to your account every 3 months

Each reward point is valued at 25 paise

Reward Category	Voucher Value	Redemption Points
Book My Show Voucher	Rs.200	800
Easy Reward Points	Rs.500	1000
Auto Redemption to Account	Rs.100	400

Priority Pass

With a complimentary Priority Pass Membership and 4 free visits, you get VIP access* to over 1300 VIP lounges in more than 148 countries and 600 cities worldwide. Enjoy complimentary refreshments, free internet access and a relaxed ambience, so your waits at airports are made more comfortable.

Variant	Benefit	Annual Savings
Free	Priority Pass Membership (First year only)	Membership worth USD 99 (approx Rs. 7,425 + GST)
Paid	Priority Pass Membership with 4 complimentary accesses every year	Membership worth USD 99 (approx Rs 7,425 + GST) + 4 visits @USD 27 each (approx Rs 8,100) = Savings of Rs 15,525 approx

Purchase more Priority Pass visits at discounted rates as per your requirements!

Priority Pass membership: Rs 2000 + GST
Priority Pass membership with 2 free visits: Rs 4000 + GST
Priority Pass membership with 4 free visits: Rs 6000 + GST

*Terms and conditions:

Complimentary visits are applicable only for the primary card holders.
USD 27 per person per visit will be charged for the guest.
After completion of the complimentary visits, USD 27 will be applicable for the primary holder as well.
While signing the visit voucher, customer to check whether the number of guest entered is accurate. In case there are no guest, strike off or mention NA.
Customer to retain a copy of the visit voucher for 3 months.

For Priority Pass Lounge Directory, Click here

Bonus reward points! (Only for paid card)#

You will get bonus reward points on activation every month. If you spend minimum Rs 1000 every month, you would be eligible for 6400 reward points for that quarter. E.g. You spend Rs. 1000 in April, May and June, you will get 6400 extra reward points in the month of July.
# Crediting of reward points in lieu of 4 PVR tickets is an interim change in the feature of the card

Travel with comfort

Airport Lounge Access
Complimentary access to Airport Lounges in India and enjoy benefits such as gourmet meal, comfortable seating, widescreen TVs, newspaper and magazines, free Wi-Fi.
For more details, Click here

Benefits Don’t Stop

Instant Assistance through premium concierge services to you.
These services include:
- Arranging reservations for hotel and dining
- Flight ticketing assistance
- Booking tickets for special events and performances
- Spa & Fitness Centre information
- Referral assistance

To book or for any enquires please call at +91 22 4232 0244 or write us at kotak-concierge@aspirelifestyles.com For more details, Click here

Fuel Surcharge Waiver
- Save 1% fuel surcharge across all petrol pumps in India*
  * Fuel surcharge to be waived only for transactions between values of Rs.400 - Rs.4000. Maximum Fuel surcharge waiver of Rs.4500 in a calendar year
Railway Surcharge Waiver
- Get 1.8% to 2.5% railway surcharge waiver when you book a ticket on www.irctc.co.in or through an Indian Railways booking counter*
  *Maximum railway surcharge waiver allowed in a calendar year is Rs 500
Priority Attend
- We know that time is of the essence for someone like you. If you have any card related queries, simply SMS ‘KPRIVY’ and we’ll call you back within 30 minutes* to resolve the same.
Attractive EMI options
- You can convert any purchase above Rs.2500 to easy EMIs. For more details, Click here
Balance transfer
- You can transfer all your outstanding amount from other credit cards to Privy League VISA Signature Credit Card with a processing fee of Rs.349 plus service tax per Rs.10,000 and enjoy 3 Month interest free period.
Low interest rate
- You will enjoy a low monthly interest rate of 2.49%, unlike other credit cards who charge 3.1%- 3.5%.
Secure yourself
- Get protection from unauthorized transactions up to Rs. 2,50,000 per annum. These transactions are covered as far as 7 days prior to your call reporting the loss to us