Kotak IndiGo 6E Rewards XL Credit Card: In a strategic partnership with IndiGo, Kotak Bank has introduced two enticing co-branded credit cards – the Kotak IndiGo 6E Rewards Credit Card and the premium variant, Kotak IndiGo 6E Rewards XL Credit Card. In this article, we delve into the latter, focusing on its offerings, fees, rewards, and all the essential details that make it a lucrative choice for frequent travelers.
Fees and Charges
Joining Fee: Rs 1500+GST Annual Fee: Rs 1500+GST Type: Co-Branded, Rewards
Kotak IndiGo 6E Rewards XL Credit Card Review: Fees and Charges
One distinctive feature of the Kotak IndiGo 6E Rewards XL Credit Card is the absence of any fee waiver criteria. This means that cardholders will need to pay the joining fee and annual fee as mentioned. The question that naturally arises is whether the rewards and benefits associated with the card justify these charges, which we’ll explore in the following sections.
Rewards
The Kotak IndiGo 6E Rewards XL Credit Card offers a rewarding experience, with benefits tailored to various spending categories. Here’s a breakdown of the reward rates:
- IndiGo: 6%
- Dining, Entertainment, and Grocery: 3%
- Other Spends (Including Fuel): 2%
- Wallets: 0%
Kotak IndiGo 6E Rewards XL Credit Card Review: Rewards
Cardholders earn ‘6E Reward Points’ on their transactions, with each 6E Reward Point equivalent to Rs 1. These points remain valid for two years from the date of credit, providing flexibility in redeeming them for various IndiGo services.
The XL variant of this credit card distinguishes itself with a reward rate ranging from 2% to 6%, making it an attractive choice for those seeking substantial 6E Rewards for their expenditures.
Complimentary Airport Lounge Access
The Kotak IndiGo 6E Rewards XL Credit Card enhances your travel experience with complimentary access to domestic airport lounges. Here are the details:
- Domestic Airport Lounge Access: 8 complimentary visits/year
- International Airport Lounge Access: Not Available
Delayed Credit of 6E Rewards
One of the key drawbacks of the Kotak IndiGo 6E Rewards XL Credit Card is the extended time it takes for the earned 6E Rewards to be credited to the IndiGo account – a waiting period of 90 days after the transaction. This extended processing time can pose challenges for cardholders who prefer more immediate gratification of their rewards.
Efforts to streamline and expedite the credit process would significantly enhance the card’s appeal.
Other Key Benefits and Charges
In addition to the primary benefits, here are some other key features and charges associated with the Kotak IndiGo 6E Rewards XL Credit Card:
- Discounted convenience fees of Rs 150 on IndiGo website bookings
- Foreign Currency Markup: 3.5%+GST (~4.13%)
- Fuel Surcharge Waiver: Not Available
- Interest Charges: 3.70% monthly or 44.40% annually
- Rent Payment Charges: 1%+GST
- Credit Limit Increase Processing Fee: Rs 100+GST
It’s noteworthy that Kotak Bank charges a processing fee for increasing credit limits, even when cardholders receive an auto limit enhancement offer, making it essential to accept this charge.
Final Thoughts
The Kotak IndiGo 6E Rewards XL Credit Card is a compelling option for frequent IndiGo travelers. With its competitive reward rate ranging from 2% to 6%, it’s an excellent choice for those looking to earn valuable travel rewards through their everyday spending.
However, it’s important to remember that 6E Rewards can only be redeemed against the base fare, with taxes and surcharges still requiring cash payment. Comparatively, traditional card discount offers from platforms like MakeMyTrip and Yatra might offer more comprehensive benefits.
One aspect where this card falls short is the absence of an annual fee waiver. Some criteria for fee waiver, such as a certain annual spend threshold or a renewal benefit like an additional IndiGo ticket worth Rs 3000, could enhance its attractiveness to potential cardholders. This is a strategy employed by Vistara co-branded credit cards, which reward cardholders for their annual fee payment.
For domestic travel enthusiasts seeking credit card rewards, several alternatives provide a broader spectrum of benefits. HDFC Bank’s Regalia Gold, Diners Club Privilege, and Regalia, for instance, offer attractive options. Additionally, SmartBuy enables accelerated rewards, allowing cardholders to utilize reward points for booking revenue tickets. For those inclined towards Vistara, the IDFC Vistara and SBI Card Vistara Prime cards are viable alternatives. If you’re interested in airmiles redemption for domestic travel, options like Atlas, DCB, and Infinia are worth exploring.
In conclusion, the Kotak IndiGo 6E Rewards XL Credit Card is a valuable addition to the financial arsenal of frequent IndiGo flyers, providing ample opportunities to earn rewards for their journeys.