Kotak and Myntra have come together to launch the first Myntra co-branded credit card. The Myntra Kotak credit card offers excellent rewards on Myntra. We also get milestone benefits and accelerated cashback on preferred partners. So, this is a compelling credit card if you spend a lot on Myntra – one of the largest online fashion retailers in India. The Myntra Kotak credit card comes in Rupay Select and Mastercard variants. So, you can also get the Rupay variant to use it for UPI spending. Here is a detailed review of the card.
Fees & Charges
|Rs 500 Myntra GV
|Annual Fee Waiver
|Rs 2 Lakh spend in a membership year
The fees and waiver are in line with the existing Flipkart Axis Bank credit card which offers 5% cashback on Myntra. But the Myntra Kotak credit cards up the cashback for the same fee. For the welcome benefit, complete 1 transaction worth Rs 500 or more within 30 days of card issuance.
|Type of Spend
|7.5% instant discount
|Maximum discount Rs 750 per transaction
|Preferred Partners (Swiggy, Swiggy Instamart, PVR, Cleartrip, Urban Company)
|Maximum cashback of Rs 1000 per statement cycle
|UPI spends above Rs 2000 (only Rupay variant)
|Rent Payment, Fuel Spends, Wallet and EMI Transactions, UPI spends below Rs 2000
The 7.5% instant discount is nice and much better than getting cashback after the transaction. It is also more than the 5% that the Flipkart Axis credit cards offer on Myntra.
Quarterly Milestone Benefit
- 2 complimentary PVR tickets worth Rs 250 on spending Rs 50000 in a calendar quarter
- Rent, Wallet, and Fuel spending will not be considered eligible spending for this benefit
Complimentary Airport Lounge Access
- Airport Lounge Access within India: 1 complimentary visit per calendar quarter with Mastercard/Rupay
- Airport Lounge Access outside India: Not Available
Other Benefits and Charges
- Fuel Surcharge Waiver: 1% waiver on transactions between Rs 500 and Rs 3000. Maximum fuel surcharge waiver of Rs 3500 in a membership year.
- Complimentary membership to Myntra insider program
- Foreign Currency Transaction Charges: 3.5%+GST
- Finance Charges: 3.7% per month / 44.4% annually
Pros and Cons
With a 7.5% instant discount on Myntra, the Kotak Myntra credit card is a good option. We also get 5% cashback on preferred partners and 1.25% on UPI spending. So, get the Rupay variant if you are applying for this card. This will make the card much more rewarding and it will also be easy to achieve the spending for annual fee waiver.
We also have a few other ways to save on Myntra spending like:
Frequently Asked Questions
Myntra Kotak Credit Card