Introduction: Kotak Mahindra Bank Solaris Credit card is a platinum credit card which is mainly designed for people who love online shopping. This credit card is powered by MasterCard and will provide many exciting benefits and features on all the spends which are made online. This card has a minimal annual fee and provides several benefits like contactless payments, a waiver on fuel surcharge, the reversal of joining fee, redeeming reward points against flight tickets, AirMiles, milestone rewards, movie tickets and many more.
You can use this Platinum Credit card for both domestic and international purposes. You can read the below mentioned features and benefits provided by the card in detail along with the given fees and charges, the process of application of the credit card and its eligibility.
Solaris Platinum Credit card features and benefits
You will be able to receive 2.500 reward points as a bonus on joining on the payment of joining fee completely and by swiping the credit card within the first 60 days of issuance of cards.
The reward programme which is provided on Solaris Platinum Credit card will offer two reward points on each amount of Rs.150/- which is spent by using the card and 5X more reward points on all purchases made online. Anyways, railway bookings and fuel transactions made using this card are not eligible for reward points. Other transactions like Telephone order or Mail order, standing instructions and IVR will not be considered as online transactions and therefore, you will not be able to receive any accelerated reward points.
Lost card liability
This Platinum Credit card will come with an insurance policy which offers coverage against loss or stolen credit card. This coverage will be worth an amount of Rs.1.25 lakh and this insurance also protects the cardholder from any kind of fraudulent or unauthorized transactions.
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There are two types of waivers provided on this credit card. One is Fuel surcharge waiver and the other is railway surcharge waiver.
The waiver on fuel surcharge will be valid at all the fuel stations present across the country and is only valid on the transactions between the amounts of Rs.400/- to Rs.3,500/-. The amount of waiver is capped at Rs.100/- per statement cycle.
In a similar manner, surcharge levied on the ticket bookings of railways which are made through the official website of IRCTC and booking counters will be completely waived off if the card is used for making the payments. A maximum amount of Rs.500/- of surcharge waiver on railways will be allowed in one year.
Add-on cards for your loved ones
You will be able to get one add-on card as a complimentary for any of the immediate members of the family who are above the age of 18 years. This card will have the same benefits as of the primary credit card.
You will have all the rights to set the limit on the add-on credit card and then track the expenses or spends separately on each of the cards.
Milestone Bonus rewards
If you spend an amount of Rs.2 Lakh per year, then you will receive 4,000 reward points as a milestone reward. If you spend an amount of Rs.4 lakh in a specific year, you will be able to receive 10,000 reward points. Reward points will be credited to your account once you complete one year.
This MasterCard powered Platinum credit card comes with an in-built contactless technology in it which will allow transactions at the POS terminals without the requirement of PIN. You will have to just wave the Credit card at the POS terminals for the transactions of the maximum amount of Rs.2,000/-.
You will not be required to swipe or dip the credit card for entering the PIN. Anyways, payments made using this contactless technology will work only at the POS terminals which are enabled with contactless technology. On the other terminals, you can consider swiping or dipping the card depending on the technology available.
Redemption of reward points
You can redeem reward points which you earn by using Kotak Solaris Credit card for cash at merchant stores or for flight tickets or movie tickets, mobile recharges or for air miles. Cardholders will be required to login to the official website of Kotak Mahindra bank for redeeming the points.
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Kotak Solaris Credit card fees and charges
- An amount of Rs.500/- is charged as an annual fee.
- An annual fee of Rs.500/- will be charged. This annual fee will be waived off if the annual spend is up to an amount of Rs.75,000/- in a year.
- Finance charges on outstanding balance amount are 3.5% per month which would be summed up to 42% per year.
- Fee for the cash advance is an amount of Rs.300/- per withdrawal.
- There is no fee charged for add-on cards.
- Charges for late payment depends on the outstanding balance. Any outstanding balance which is up to an amount of Rs.500/- will be charged with an amount of Rs.100/-. If the outstanding balance amount is between Rs.501/- to Rs.10,000/-, then an amount of Rs.500/- will be charged as the late payment fee. Any outstanding balance amount which is more than the amount of Rs.10,000/- will be charged with a late penalty of Rs.700/-.
- Charges of over-limit is an amount of Rs.500/-.
- Charges made on a cheque bounce is an amount of Rs.500/-.
- Fee for transactions made using a foreign currency is 3.5% per international transaction.
- Fee for card re-issuance is Rs.100/-.
Eligibility Criteria required for the application of Kotak Solaris Credit card
- You should be an Indian resident.
- You should have the age between 21 to 65 years.
- You should be coming from any of the cities like Ahmedabad, Chandigarh, Chennai, Pune, Hyderabad, Bangalore, Navi Mumbai, Delhi, Gurgaon, Noida, Mumbai.
- Your income should be more than Rs.5 lakh per year.
Application of Kotak Mahindra Solaris Credit card
You can apply for a Solaris Platinum Credit card online from the official website of Kotak Mahindra Bank or offline by submitting the credit card application at any of the nearest branches of Kotak Mahindra bank.
Process of online application of Solaris Credit card
You will have to follow the below instructions for the application of credit card online.
- Go to the Solaris Platinum Credit card page on the official website of Kotak Mahindra bank.
- Read all the features and benefits once again.
- If you are meeting the eligibility criteria which has been set by the Kotak bank, click on “Apply Now”.
- You will be redirected to the online application page of the credit card where you will be required to fill all the fields with correct details.
- Once you give all the details like name, email address, phone number, city etc, check the box which asks you to accept the terms and conditions and click “Apply now” for the submission of the application.
Once Kotak Mahinda Bank receives the credit card application, you will receive a call from the bank’s respective department. You can clear all the doubts on that call when the executive will explain to you about the further process of application.