Kotak Fortune Gold Credit Card

The Kotak Fortune Gold credit card, which is affiliated with Visa Business, offers a range of special advantages and perks based on your annual expenditures. When you spend Rs 1,50,000, this card provides a significant milestone benefit, giving you 4 PVR movie tickets and a cashback of Rs 750. Additionally, it offers a 1% fuel surcharge waiver for transactions falling within the range of Rs 500 to Rs 3000. Moreover, the Kotak Fortune Gold card includes various other valuable benefits.

Key Highlights of Kotak Fortune Gold Credit Card

Here are the key highlights of the Kotak Fortune Gold Credit Card:

  1. Rewards Program: The Kotak Fortune Gold Credit Card offers a rewards program where you can earn points on your everyday purchases.
  2. Fuel Surcharge Waiver: Cardholders may enjoy fuel surcharge waivers at select fuel stations, making it more cost-effective to refuel your vehicle.
  3. Credit Limit: The credit limit offered on this card depends on your creditworthiness and financial profile.
  4. Online Application: You can easily apply for this credit card online through the official Kotak Mahindra Bank website.
  5. Quick Processing: The application and approval process is relatively quick, and if you meet the eligibility criteria, you can expect to receive your card within a short period.
  6. Customer Support: Kotak Mahindra Bank typically provides customer support to assist cardholders with any queries or concerns.
  7. Document Verification: The bank will verify the documents you submit during the application process to ensure they match the information you’ve provided.
  8. 7-10 Business Days Delivery: Once your application is approved, you can anticipate receiving the card within 7-10 business days.
  9. Exclusive Offers: The card may come with exclusive offers and discounts at partner merchants and restaurants.
  10. Annual Fees: Be aware of any annual fees or charges associated with this credit card, as they can vary depending on the specific card variant.

Benefits and Features of Kotak Fortune Gold Credit Card

The Kotak Fortune Gold Credit Card offers a range of attractive benefits and features for cardholders:

  1. Convenient Cash Access: Accessing cash is hassle-free with the Kotak Fortune Gold Credit Card. You can withdraw cash from any Kotak ATM at your convenience. Additionally, you have the option to transfer funds at a nearby Kotak branch or through online banking. The cash withdrawal limit is flexible, allowing you to withdraw up to 50% of your current credit card limit.
  2. Fuel Surcharge Waiver: Enjoy savings on fuel expenses with a fuel surcharge waiver for purchases between Rs. 500 and Rs. 3,000. This benefit is capped at a maximum of Rs. 3,500, making your everyday commutes more cost-effective.
  3. Easy Balance Transfers: Transferring balances from other credit cards to your Kotak Fortune Gold Credit Card is a breeze. A single phone call is all it takes to consolidate your credit card debt. Even after transferring your balance, you can still benefit from an interest-free period on retail purchases made with your Kotak card.
  4. Milestone Program: The card’s milestone program rewards you with enticing perks. Achieve milestones to earn a free Indigo flight ticket or up to four complimentary PVR movie tickets, adding value to your card membership.
  5. Fortune Shield: Protect yourself against fraudulent card use with the Fortune Shield feature. You receive insurance coverage of up to Rs. 50,000 for up to seven days before reporting a lost or stolen card, providing peace of mind and security.
  6. Add-on Cards: Extend the benefits of the Kotak Fortune Gold Credit Card to your loved ones with add-on cards. You can obtain additional cards for your spouse, children, or parents (as long as they are over 18 years old) with the same credit limit as the primary card, enabling them to enjoy the card’s advantages.
  7. Cashback Offers: Based on your spending in the previous year, you can take advantage of enticing cashback offers. These cashback rewards can be claimed within three months of the completion of the specified period, providing you with valuable savings.

Kotak Bank Fortune Gold Credit Card Fees and Charges

Fee and Charges for the Kotak Bank Fortune Gold Credit Card are as follows:

1. Joining Fees: There are no joining fees for this card.

2. Annual Fees: No annual fees are applicable for the Fortune Credit Card.

3. Interest Charges on Outstanding Balances: The annualized interest rate on outstanding balances is 3.50% (or 42% annually).

4. Addon Card Fees: The fee for an addon card is Rs. 299 per card.

5. Minimum Amount Due (MAD): MAD can be either 5% or 10% of the Total Amount Due (TAD), as determined by the Bank.

6. ATM Cash Withdrawal/Call a Draft/Fund Transfer/Cash Advance: A fee of Rs. 199 is charged for every Rs. 10,000 or part thereof for these transactions.

7. Late Payment Charges (LPC):

  • Rs. 100 for statements with outstanding balances less than or equal to Rs. 500.
  • Rs. 700 for statements with outstanding balances greater than Rs. 10,000.
  • Rs. 500 for statements with outstanding balances between Rs. 500.01 and Rs. 10,000.

8. Over Limit Charge: A charge of Rs. 500 applies if you exceed your credit limit.

9. Cheque Bounce Charges: The charge for a bounced cheque is Rs. 500.

10. Foreign Currency Mark Up: There is a 3.5% charge for foreign currency transactions.

11. Railway Booking Surcharge: Applicable.

12. Fuel Surcharge (1% on transaction): This surcharge is waived for transactions within the range of Rs. 500 to Rs. 3,000. The maximum fuel surcharge waiver is Rs. 3,500 in a calendar year.

13. Fee for Cash Payment at Bank: Rs. 100 is charged for cash payments made at the bank.

14. Reissue/Replacement Card (per issuance): The charge for reissuing or replacing a card is Rs. 100.

25. Balance Enquiry Charges at Non-Parent Bank ATM: The charge for balance inquiries at non-parent bank ATMs is waived.

Please note that GST and applicable taxes will be charged according to the rates approved in the Finance Act each year on all interest, fees, and other charges levied on your Credit Card.

Kotak Fortune Gold Credit Card Eligibility

Eligibility criteria for Kotak Fortune Gold Credit Card :

For Primary Card Holder:

  • Age requirement: The primary card holder must be between 21 and 65 years of age.
  • Location: They should reside in one of the following cities – Ahmedabad, Bangalore, Chandigarh, Chennai, Delhi (including Gurgaon and Noida), Hyderabad, Kolkata, Mumbai, Navi Mumbai, or Pune.
  • Income: Their annual income should be Rs. 3 Lakhs or more.
  • Occupation: This card is exclusively for business professionals.
  • Residency: The primary card holder must be a resident of India.

For Add-on Card Holder:

  • Age requirement: Add-on card holders should be 18 years of age or older.

Documents Required for Kotak Bank Fortune Gold Credit Card

Documents Required for Kotak Bank Fortune Gold Credit Card Application:

1. Proof of Identity:

  • PAN Card
  • Aadhaar card
  • Passport
  • Driver’s License
  • Person of Indian Origin Card
  • Voter’s ID
  • Overseas Citizen of India Card
  • Job card issued by NREGA
  • Letters issued by the UIDAI

2. Proof of Address:

  • Aadhaar card
  • Passport
  • Ration Card
  • Driver’s License
  • Person of Indian Origin Card
  • Property Registration Document
  • Job card issued by NREGA
  • Bank Account Statement

3. Proof of Income:

  • Latest 1-2 salary slips (not older than 3 months)
  • Last 3 months’ bank statement
  • Latest Form 16

How to apply for Kotak Bank Fortune Gold Credit Card

Here are the steps to apply for the Kotak Bank Fortune Gold credit card:

  1. Visit the nearest Kotak Mahindra Bank branch or apply online for the card.
  2. Online application is the quicker option.
  3. To apply online, visit the official Kotak Mahindra Bank website.
  4. Navigate to the credit card section and locate the Kotak Fortune Gold credit card.
  5. Click on ‘Apply Now’ and complete the required information.
  6. If eligible, fill out a detailed application form.
  7. A bank representative will contact you for document collection.
  8. Submit the necessary documents.
  9. The bank will verify the documents and your provided information.
  10. If all is in order, you’ll receive the card within 7-10 business days.

Frequently Asked Questions (FAQs)

1. What is the Kotak Bank Fortune Gold Credit Card?
The Kotak Bank Fortune Gold Credit Card is a credit card offered by Kotak Mahindra Bank that provides various benefits, including reward points, cashback, and other privileges. It is designed to cater to the lifestyle and spending preferences of the cardholder.

2. How can I apply for the Kotak Bank Fortune Gold Credit Card?
You can apply for the Kotak Bank Fortune Gold Credit Card online through the official Kotak Mahindra Bank website. Alternatively, you can visit the nearest Kotak Mahindra Bank branch to apply in person.

3. What are the key features of the Fortune Gold Credit Card?
The key features include reward points on every transaction, cash withdrawal facility, fuel surcharge waiver, and the ability to convert purchases into easy monthly installments (EMIs). The card also offers insurance coverage and other lifestyle benefits.

4. What is the eligibility criteria for the Fortune Gold Credit Card?
Eligibility criteria may vary, but generally, applicants should be within a certain age range, have a stable income, and a good credit score. Specific details can be obtained from the Kotak Mahindra Bank website or by contacting their customer service.

5. How can I check the status of my Kotak Bank Fortune Gold Credit Card application?
You can check the status of your credit card application by visiting the official Kotak Mahindra Bank website or by contacting the customer service helpline. You may need to provide certain details like your application reference number or date of birth for verification.

6. What is the annual fee for the Kotak Bank Fortune Gold Credit Card?
Details about the annual fee and any other applicable charges can be found on the Kotak Mahindra Bank website or in the terms and conditions provided with the credit card application.

7. How do the reward points work on the Fortune Gold Credit Card?
Cardholders earn reward points for every eligible transaction made using the Fortune Gold Credit Card. These points can be redeemed for a variety of rewards such as merchandise, gift vouchers, or even to offset outstanding balances. The redemption process details are available on the bank’s rewards program portal.

8. Is there a grace period for interest-free repayment on purchases?
Yes, there is usually a grace period, commonly ranging from 15 to 45 days, during which no interest is charged on new purchases. However, this grace period may vary, and it’s essential to check the terms and conditions provided by Kotak Mahindra Bank.

9. How can I contact Kotak Mahindra Bank customer service for queries related to my Fortune Gold Credit Card?
You can contact the customer service helpline mentioned on the back of your credit card or visit the official Kotak Mahindra Bank website for contact details. Additionally, you may also visit the nearest Kotak Mahindra Bank branch for assistance.

10. What security features are in place to protect my Fortune Gold Credit Card?
Kotak Mahindra Bank implements various security features such as chip and PIN technology, one-time passwords (OTPs) for online transactions, and the option to set transaction alerts. It is crucial for cardholders to keep their card details confidential and report any unauthorized transactions immediately.