Kotak Mojo Platinum Credit card

About Kotak Mojo Platinum Credit Card

Are you tired of credit cards that promise the world but deliver complicated reward structures you can never actually use? The Kotak Mojo Platinum Credit Card is designed to bring straightforward value back to your wallet.

This card offers a solid reward system where your everyday spends translate into Mojo points. With a clear conversion rate of 1 Mojo point equaling ₹0.25, you can save roughly ₹30,000 annually if you are a moderate to high spender. It is a no-nonsense tool for those who want their credit card to work as hard as they do without the headache of complex math.

Built for young professionals and mid-level earners with a monthly income of ₹25,000 or more, this card bridges the gap between basic entry-level cards and high-end lifestyle cards. It focuses on what matters: rewards on your purchases and comfort during your travels.

What sets it apart:

• High Lounge Access: Unlike many cards in this price bracket that offer 4 visits, this card provides 8 complimentary domestic lounge visits per year.
• Easy Fee Reversal: You can get your joining fee back by spending just ₹30,000 within the first 90 days of getting the card.
• Versatile Redemption: You are not stuck with one category; use your points for everything from flight tickets to simple statement credits.

Quick check: To qualify for this card, you need to be between 21-60 years old with a minimum monthly income of ₹25,000 and a credit score (CRIF) of 720 or higher.

Let's break down why this card stands out and how you can make the most of it:

Key Benefits and Features of the Kotak Mojo Platinum Credit Card

The Kotak Mojo Platinum Credit Card is packed with features that cater to shoppers and travelers alike. Here is a detailed look at how you can benefit from this card:

Reward Points System

The heart of this card is the Mojo points system. You earn points on your retail spends, which can be redeemed for a variety of options. With a conversion rate of 1 Mojo point = ₹0.25, the value is transparent. You can redeem these points for e-vouchers, merchandise, or even use them as statement credit to pay off your card bill.

A unique feature is the ability to earn Mojo points on insurance spends (up to ₹70,000 per statement cycle), which is a category many other cards exclude entirely. However, keep in mind that after June 1, 2025, while you still earn points on insurance, these spends will no longer count toward your milestone calculations.

Airport Lounge Access

If you travel domestically within India, this card is a fantastic companion. You get 8 complimentary domestic lounge visits every year through DreamFolks. These are capped at 2 visits per quarter, allowing you to relax, eat, and charge your devices before your flight at no extra cost.

Important Update: Starting June 1, 2025, there is a spend-based criteria for this benefit. You will need to spend at least ₹75,000 in a calendar quarter to enjoy the 2 lounge visits in the subsequent quarter. This makes it a great card for those who use their credit card for most of their monthly expenses.

Joining and Annual Fee Waivers

The Kotak Mojo Platinum Credit Card comes with a joining fee of ₹1,000 and an annual fee of ₹1,000. However, the bank makes it very easy to avoid these costs:

• Joining Fee Waiver: Spend ₹30,000 within the first 90 days of your card issuance, and the ₹1,000 joining fee is waived.
• Annual Fee Waiver: If you spend ₹1,00,000 or more in a year, the ₹1,000 annual fee for the next year is waived completely. For someone spending around ₹8,500 a month, this is a very achievable target.

Fuel Surcharge Waiver

Gas prices are high enough, so why pay extra fees? You get a 1% fuel surcharge waiver on transactions between ₹500 and ₹3,000. From June 1, 2025, the upper limit for this waiver increases to ₹5,000 per transaction. You can save up to ₹3,500 annually through this waiver alone.

Milestone and Insurance Benefits

The card encourages consistent usage. While milestone eligibility for insurance spends ends in mid-2025, the current structure allows you to maximize your point accumulation. Remember to activate your card by making a transaction of at least ₹100 within the first 30 days to ensure you are eligible for all reward benefits.

How to Apply for the Kotak Mojo Platinum Credit Card

Applying for the Kotak Mojo Platinum Credit Card is a simple process. Follow these steps to get started:

1. Check Your Eligibility: Ensure you are between 21 and 60 years old and earn at least ₹25,000 per month. Your CRIF/credit score should be 720 or above.
2. Visit the Official Website: Head to the Kotak Mahindra Bank credit card section or use the application link provided by authorized partners.
3. Fill the Application Form: Enter your personal details, including your name, mobile number, and employment type (Salaried or Self-employed).
4. Provide Income Details: You must declare an annual income of at least 3 LPA (Lakhs Per Annum).
5. Submit Documentation: Upload digital copies of your ID, address, and income proof as requested by the bank.
6. Verification: A bank representative may call you to verify details or schedule a physical document pickup if needed.
7. Card Issuance: Once approved, the card will be dispatched to your registered address. Remember to make your first ₹100 transaction within 30 days to activate the rewards program.

Credit Limit: What to Expect

Credit limits are assigned based on your income, credit score, and banking relationship. Most cardholders receive a limit ranging from ₹50,000 to ₹3,00,000 initially, depending on their income profile. Kotak Mahindra Bank evaluates your repayment history and existing debt-to-income ratio to finalize the specific limit on your Mojo Platinum card. If you maintain a good credit score and use the card responsibly, you are eligible for a limit increase after 6-12 months of usage.

Comparison Table: Kotak Mojo Platinum vs. Competitors

To help you decide, here is how the Kotak Mojo Platinum stacks up against other popular mid-range cards in the market:

If your priority is domestic travel and you want a card that pays for itself through lounge access alone, the Kotak Mojo Platinum is the clear winner. While cards like Axis Ace offer better flat cashback, they lack the high-frequency lounge benefits provided here.

Documents Required for Kotak Mojo Platinum Credit Card Application

You'll need to submit the following documents when applying:

For Salaried Applicants

• Identity Proof: PAN Card (mandatory), Aadhaar Card, Passport, Voter ID, or Driving License
• Address Proof: Aadhaar Card, Passport, Utility Bills (not older than 2 months), Rent Agreement, or Property Tax Receipt
• Income Proof: Latest 3 months' salary slips and 6 months' bank statements
• Employment Proof: Office ID card or employment letter

For Self-Employed Applicants

• Identity Proof: PAN Card (mandatory), Aadhaar Card, Passport, Voter ID, or Driving License
• Address Proof: Aadhaar Card, Passport, Utility Bills (not older than 2 months), or Property Documents
• Income Proof: Latest 2 years' ITR with computation of income, 6 months' bank statements, and CA-certified financials
• Business Proof: Business registration certificate, GST registration (if applicable), or Shop Act License

Note: All documents must be self-attested. The bank may request additional documents during verification.

Who Should Get This Card?

Should you get this card? Here is who benefits most from the Kotak Mojo Platinum:

The Frequent Domestic Traveler: If you are someone who flies between Indian cities 4-6 times a year for work or leisure, this card is excellent. Most cards at this price point offer zero or four lounge visits. Getting eight visits means you can enjoy a meal and a comfortable seat at the airport almost every time you fly, saving you at least ₹800-₹1,000 per trip in food costs.

The Practical Spender: If you earn around ₹30,000 to ₹50,000 a month and want a card that doesn't cost you anything, this is a great fit. By spending just ₹8,500 a month, you wipe out the annual fee. If you use it for your utility bills, groceries, and insurance, you'll easily hit the ₹1 lakh annual target while earning points that can be turned into statement credit.

The Insurance Payer: Many cards have stopped giving rewards on insurance premiums. If you have a large annual life or health insurance premium (up to ₹70,000 per cycle), this card allows you to earn Mojo points on those necessary expenses, which is a rare and valuable feature.

You might want to skip this card if:

• You primarily shop on specific platforms like Amazon or Flipkart, where co-branded cards (like ICICI Amazon Pay) offer higher 5% cashback.
• You are looking for international lounge access, as this card is strictly for domestic use.
• You prefer direct cashback over a point-based system that requires redemption through a portal.

BankKaro Expert Review

Based on my analysis of the mid-tier credit card market, the Kotak Mojo Platinum Credit Card is a "sleeper hit." It doesn't get as much marketing buzz as some cashback cards, but the value proposition is solid. I particularly like the 8 domestic lounge visits. In an era where most banks are devaluing lounge benefits or adding high spend requirements, Kotak offering 8 visits for a ₹1,000 fee card is very generous.

The biggest limitation is the upcoming change in June 2025. Requiring a ₹75,000 spend per quarter for lounge access is a significant jump. This means the card will move from being "effortless travel" to "rewarding for heavy spenders." If you spend more than ₹25,000 a month consistently, this change won't affect you, but casual users might lose their lounge perks.

The reward rate of ₹0.25 per point is standard, not industry-leading. However, the inclusion of insurance spends in the rewards program is a major pro. My verdict: Choose this card if you want a reliable secondary card for domestic travel and want a simple way to earn rewards on your insurance and utility payments.

Terms and Conditions

Before you apply, please keep these specific terms in mind:

• The bank may offer a different card variant based on your eligibility. Please carefully read the features of the card offered before submitting your application.
• A minimum transaction of Rs. 100 within 30 days is required to activate the card, otherwise, you won't be eligible for the rewards program.
• Mojo points redemption is subject to the bank's rewards catalogue, which can be accessed at the official Kotak rewards website.
• Exclusions for earning rewards include fuel transactions, cash withdrawals, wallet loads, rent payments, and online skill-based gaming.
• For complete terms and conditions, consult the official document provided during the application process to understand all liabilities.