Kotak Essentia Platinum Credit Card – Review, Details, Offers, Benefits, Fees, How To Apply, Eligibility, Status, Limit

Kotak Bank – Essentia Platinum credit card offers 10% discount on Groceries and free PVR tickets

Kotak Essentia Platinum Credit Card Benefits

  • Joining Benefits
    • Apply and get 2 BookMyShow vouchers on your 1st swipe (worth Rs 400)
  • Benefits
    • 10% Savings on Departmental & Grocery Store spends  (max Savings per month = 500 points i.e. max spend Rs 5000)
    • Essentia gives you 10 Saving Points for every Rs. 100 you spend at Departmental & Grocery Stores (1 Saving point = Rs 1). Transaction should be between Rs 1500 – Rs 4000.
  • Lounge Access (Domestic): No Benefit on this card
  • Movie Tickets: 
    • Spend Rs. 1, 25,000 every 6 months and get 6 free PVR tickets Or 1200 Reward Points  (worth Rs 2400)
  • Restaurant Offers:
    • NA
  • Fuel:
    • NA

Rewards Collection

  • Earn 10 Saving Point for Departmental & Grocery Store spends  (10% cashback)
  • Earn 1 Saving Point for every Rs. 250 you spend on other categories
  • Milestone:  Spend Rs. 1, 25,000 every 6 months and get 6 free PVR tickets Or 1200 Reward Points

Rewards Redemption

  • Reward points can be used for a host of redemption options like Airtickets, Airmiles, Movie Tickets, Mobile Recharge / Branded Merchandise
  • 1 Saving Point = 2 EasyPoints (that can be redeemed against Airline tickets / Merchandise / Mobile recharge)

Kotak Essentia Platinum Credit Card Fees

  • Joining fees: Rs 1499
  • Annual Fee: Rs 749 (waived on annual spend of Rs 50000)

 

Benefits Example

Spend Offer Monthly Spend Annual Spend Benefit  (Annual) Reward %
Departmental and Grocery 10% Benefit 5000 60000 12000 20%
Other Spend Rs 1 per Rs 250 spend 16000 192000 1536 1%
Milestone Benefit (Conditional) 12 PVR tickets on spending 1,25,000 every 6 months 3600 1.4%
TOTAL Saving 21000 252000 17136 6.8%
Annual Fees -749
Net Saving 16387
Reward  / Cashback % 6.50%

Above Saving is on the assumption that you will convert the reward points to EasyPoint and redeeem for Airtickets, Airmiles, Movie Tickets, Mobile Recharge / Branded Merchandise (1 reward point = 2 Easypoint)

Condition: To get full benefit, the minimum spend required is Rs 250000 per annum

 

How to Apply – You can apply online at Kotak Bank website 

  • Primary credit cardholder should be in the age bracket of 21 – 65 years. Add-on credit cardholder should be 18 years or above
  • Card is available only in the following locations – Ahmedabad, Bangalore, Chandigarh, Chennai, Delhi (including Gurgaon and Noida), Hyderabad, Kolkata, Mumbai, Navi Mumbai and Pune

Summary

This credit card is beneficial as it offers 10% cashback on Groceries spend as well as free PVR tickets. Based on the benefit example above, it can give you approx  6.5% worth of rewards.

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