Kotak Bank 811 #DreamDifferent Credit Card

Kotak Bank had started a digital savings account named 811 sometime back. It was an instant hit with quick onboarding and lesser charges. Now, Kotak has extended the 811 product range to launch an entry-level credit card. Here is a review of the Lifetime Free Kotak 811 #DreamDifferent credit card. Is this LTF card worth applying for? Let’s find out.

Fees and Charges

Rewards

Online spends: 2 RP/Rs 100 ~0.5% Value
All other spends: 1RP/Rs 100 ~0.25% Value
Excluded spends for rewards: Fuel and Railway Spends

Annual Milestone Benefit

We get two options as a milestone benefit on spending Rs 75000 in an anniversary year.

Option 1: Rs 750 cashback ~1% value
Option 2: 4 free PVR tickets

Both options provide almost the same value as we can also get Buy One Get One on PVR movie tickets with other credit card offers.

Rewards Redemption

Accumulated reward points can be redeemed on the Kotak Rewards portal. The value for each reward point is 25 paise for all the options. Redemption options include:

Domestic Flights and Hotels
Product Catalog
Mobile Recharge
Gift Vouchers including Amazon and Flipkart
Statement Credit

Key Benefits

Fuel Surcharge Waiver: 1% for transactions between Rs 500 and Rs 4000. The maximum waiver is capped at Rs 3500/calendar year.
Railway Surcharge Waiver: 1.8% waiver for online IRCTC and 2.5% waiver for railway booking counters.

Final Thoughts

With the milestone benefit, the reward rate on the 811 DreamDifferent credit card is between 1.25% to 1.5%. While it is decent, we have many entry-level credit cards that can provide better rewards. One benefit of having the LTF 811 DreamDifferent credit card would be to take advantage of Kotak Bank-specific offers. But, other than that I don’t see a use for this card.