Kotak Mojo Platinum vs Kotak Royale Signature Credit Card

Kotak Mahindra Bank presents two highly sought-after credit cards: the Kotak Mojo Platinum Credit Card and the Kotak Royale Signature Credit Card. These cards provide opportunities for earning reward points on everyday purchases, along with extra accelerated points for designated spending categories.

The Kotak Mojo Platinum Credit Card comes with an initial and yearly fee of Rs. 1,000. Users accumulate Mojo Points when making purchases, especially gaining more rewards for online shopping and KayMall purchases. Alongside, cardholders enjoy free access to lounges, and upon reaching a specific spending threshold within the anniversary year, they are entitled to receive gift vouchers as an added benefit.

On the flip side, the Kotak Royale Signature Credit Card stands out as a lucrative choice, providing rewards on every purchase and extra points for certain categories such as dining, accommodations, and overseas expenditures. Additionally, it includes free access to airport lounges for cardholders. Although there’s no initial fee, a renewal charge of Rs. 999 is applicable, which may be waived depending on the annual expenditure. Furthermore, this credit card offers milestone perks.

Features and Benefits of Kotak Mojo Platinum Credit Card and Kotak Royale Signature Credit Card

Kotak Mojo Platinum Credit Card:

1. Overview:
   • A credit card by Kotak Mahindra Bank offering Mojo Points as rewards.
   • Earn bonus Mojo Points when making purchases online and at KayMall with our Accelerated Rewards Program.
2. Benefits:
   • Value-added benefits include gift vouchers and access to domestic lounges.
   • The membership or renewal charge amounts to Rs. 1,000, which could be exempted depending on how frequently the card is used.
3. Earning Mojo Points:
   • 1 Mojo Point for every Rs. 100 spent (except fuel).
   • 2.5 Mojo Points for every Rs. 100 on online purchases.
   • Each category can earn a maximum of 750 Mojo Points, with a total cap of 2,250 points per billing cycle.
4. Additional Privileges:
   • 8 complimentary domestic lounge accesses annually.
   • Railway surcharge and 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000.
   • Milestone benefit: 2500 Mojo Points quarterly for spending Rs. 75,000 or more (first year only).
5. Fee Waivers:
   • Joining fee waiver on spending Rs. 30,000 within the first 90 days.
   • Renewal fee waiver on spending Rs. 1 Lakh in an anniversary year.
6. Redemption Options:
   • Mojo Points can be redeemed for products and vouchers on https://kotakrewards.com/.
   • Redemption rate: 1 Mojo Point = Rs. 0.25; can also be used against credit card statement (1 Mojo Point = Re. 0.40).

Kotak Royale Signature Credit Card:

1. Overview:
   • Basic credit card by Kotak Mahindra Bank with reward points and travel benefits.
   • No joining fee but charges a Rs. 999 renewal fee.
2. Benefits:
   • Exciting rewards on regular spends and accelerated points for specific categories.
   • Bonus reward points for milestone spends.
3. Earning Reward Points:
   • 4 Reward Points for every Rs. 150 spent on various categories.
   • 2 complimentary domestic airport lounge accesses annually.
4. Fuel and Railway Surcharge Waiver:
   • 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000.
   • Enjoy a surcharge exemption for railway bookings when using the IRCTC website or visiting railway booking counters.
5. Milestone Benefits:
   • 10,000 bonus Reward Points on spending Rs. 4 Lakh in an anniversary year.
   • 30,000 bonus Reward Points for spending Rs. 8 Lakhs or more.
6. Fee Structure:
   • There is no initial joining fee required. However, there is a renewal fee of Rs. 999, which can be exempted if you spend Rs. 1 Lakh or more within the anniversary year.
7. Redemption Options:
   • Reward Points can be redeemed for various products and vouchers on the Kotak Rewards Website.
   • Redemption rate: 1 Reward Point = Rs. 0.1875.

Comparison between Kotak Mojo Platinum Credit Card and Kotak Royale Signature Credit Card

Kotak Mojo Platinum Credit Card:

• Reward Rate:
  • 1 MP for every Rs. 100 spent.
  • 2.5 MP for every Rs. 100 spent on online transactions.
  • 5 MP for every Rs. 100 spent on KayMall.
  • 2 RP for every Rs. 150 spent.
  • 4 RP for every Rs. 150 spent on selected categories.
• Reward Redemption:
  • You can utilize this offer through the Kotak Rewards Website, where 1 reward point is equivalent to Rs. 0.25.
  • Can be redeemed against the statement balance, where 1 MP = Re. 1.
  • Can be redeemed against products and vouchers on the Kotak Rewards Website.
  • 1 RP = Rs. 0.1875.
• Fuel Surcharge Waiver:
  • 1% waiver on transactions between Rs. 500 to Rs. 3,000.
• Milestone Benefit:
  • Receive a complimentary Rs. 1,000 gift voucher when you spend Rs. 1 Lakh or above within a quarter.
  • 10,000 Reward Points on achieving spends of Rs. 4 Lakhs in a year.
  • Earn 30,000 Reward Points by reaching expenditures totaling Rs. 8 Lakhs or higher within one year.
• Lounge Access:
  • 8 complimentary visits to domestic lounges in a year, limited to 2 per quarter.
• Railway Surcharge Waiver:
  • Certainly! Additional fees apply when making reservations through either the IRCTC website or at Railway booking counters.
  • You’ll initially pay Rs. 1,000, but if you spend Rs. 30,000 or more within the first 90 days of getting the card, the taxes can be waived.
• Renewal Fees:
  • Rs. 1,000 + Taxes (waivable on spending Rs. 1 Lakh or more in the previous year).
• Eligibility:
  • Resident of India.
  • Available for individuals aged 21 to 65, this document is provided to both employed and self-employed individuals alike.
  • Annual income of Rs. 4 Lakhs or more.

Kotak Royale Signature Credit Card:

• Reward Rate:
  • 2 RP for every Rs. 150 spent.
• Reward Redemption:
  • Can be redeemed against the statement balance, where 1 MP = Re. 1.
  • Can be redeemed against products and vouchers on the Kotak Rewards Website.
  • 1 RP = Rs. 0.1875.
• Fuel Surcharge Waiver:
  • 1% on transactions between Rs. 500 and Rs. 3,000.
• Milestone Benefit:
  • 10,000 Reward Points on achieving spends of Rs. 4 Lakhs in a year.
  • Earn 30,000 Reward Points by reaching expenditures totaling Rs. 8 Lakhs or above within a year.
• Lounge Access:
  • You receive two free entries to domestic lounges annually, with no duplication.
• Railway Surcharge Waiver:
  • Certainly! When making a booking on the IRCTC website or at railway booking counters, there is an additional fee applied.
  • NIL.
• Renewal Fees:
  • Rs. 999 + Taxes.
• Eligibility:
  • Resident of India.
  • Available for individuals aged 21 to 65, this card caters to both those employed on a salary basis and self-employed individuals.
  • Annual income of Rs. 24 Lakhs or more.

Which credit card suits you best?

• Kotak Mahindra Bank offers two distinct credit cards, each with its own set of advantages.
• The Kotak Mojo Platinum Credit Card, though considered basic, allows cardholders to earn reward points on all their transactions.
• This card allows you to redeem points earned at a rate of 1 MP for Re. 0.40, providing a tangible advantage.
• The card offers a waiver on both the joining and annual fees, tied to spending, which boosts its appeal within the credit card realm.
• On the other hand, the Kotak Royale Signature Credit Card is a robust option with attractive shopping benefits.
• Milestone benefits, including a fuel and railway surcharge waiver and complimentary lounge access, make it appealing to customers.
• While the two cards may appear similar, they feature unique attributes, requiring customers to assess their needs before making a choice.

Frequently Asked Questions (FAQs)

1. What is the primary difference between the Kotak Mojo Platinum Credit Card and Kotak Royale Signature Credit Card?

• The primary distinction lies in their features and benefits. The Mojo Platinum is a basic card with redemption options, while the Royale Signature offers comprehensive benefits like milestone rewards and lounge access.

2. How do the reward points work on the Kotak Mojo Platinum Credit Card?

• Cardholders earn reward points on almost all transactions. These points can be redeemed against the outstanding statement balance at a rate of 1 MP = Re. 0.40.

3. What are the fee waivers associated with the Kotak Mojo Platinum Credit Card?

• The card provides a spend-based waiver on both the joining fee and annual fee, making it more attractive to users.

4. What are the advantages of shopping with the Kotak Royale Signature Credit Card?

• The Royale Signature Credit Card offers customers a range of enticing shopping perks. These include rewards for reaching spending milestones, waivers on fuel and railway surcharges, and complimentary access to airport lounges.

5. Can the reward points from the Kotak Royale Signature Credit Card be used for statement balance redemption?

• The Royale Signature Credit Card is known for milestone benefits rather than direct statement balance redemption. Customers should consider these benefits while choosing the card.

6. Do the Kotak Mojo Platinum and Kotak Royale Signature Credit Cards share any common features or similarities?

• Although both cards may appear alike at first glance, they possess distinct attributes. It’s crucial for customers to thoroughly assess their preferences and needs before selecting a card.

7. How can I determine the most appropriate card for my needs?

• Consider your spending patterns, preferences, and requirements. If you prioritize redemption against the statement balance, the Mojo Platinum may be suitable. For comprehensive benefits and rewards, the Royale Signature might be a better choice.

8. Is there a difference in the eligibility criteria for these two credit cards?

• Although the eligibility criteria for both cards might appear alike, it’s advisable to verify the latest eligibility requirements directly from Kotak Mahindra Bank for accurate information.

9. Can I upgrade from the Kotak Mojo Platinum Credit Card to the Kotak Royale Signature Credit Card?

• The eligibility for an upgrade could be contingent on your credit record and the guidelines set by the bank. To learn more about the potential for upgrading your card, reach out to Kotak Mahindra Bank’s customer support team.

10. Are there any introductory offers or promotions for these credit cards?

• Introductory offers and promotions may vary. Check with Kotak Mahindra Bank for any ongoing promotions or special offers associated with these credit cards.