Kotak Launches Solitaire Credit Card

Kotak Mahindra Bank has recently introduced the premium, invite-only Kotak Solitaire Credit Card, positioning it as a strong competitor in the travel credit card market. This metal card is designed for a select clientele and features a variety of benefits tailored for frequent travellers. Let’s explore the details of what this card has to offer.

About Kotak Solitaire Credit Card

The Kotak Solitaire Credit Card is not available to everyone; it's an exclusive offering for Kotak Solitaire Program customers. For these customers, both the joining fee and the hefty annual fee of ₹25,000 + taxes are waived, making it a compelling perk of the program. For others who might receive an invitation, the annual fee is a significant factor to consider.

Features and Benefits

1. Airmiles Program: The cornerstone of this travel card is its airmiles program:

• Accelerated Airmiles on Kotak Unbox: Cardholders earn a generous 10 airmiles for every ₹100 spent on flight and hotel bookings made through Kotak's dedicated platform, Unbox. This represents a significant 10% return on travel spending through this channel.
• Base Airmiles on Other Spends: For all other eligible spending (excluding certain categories like utilities, insurance, education, and fuel), cardholders earn 3 airmiles for every ₹100 spent.
• Capping: The accelerated airmiles earning on Kotak Unbox is capped at 1,00,000 airmiles per statement cycle. Once this limit is reached, the base rate of 3 airmiles per ₹100 applies to further spending on Unbox within the same cycle.
• Exclusions: It's important to note that no airmiles are earned on certain transaction types, including utility/telecom, insurance, education and government services (with some exceptions for tax payments), rent, fuel, wallet loading, gaming, EMI transactions, cash advances, and international transactions. UPI transactions under ₹2,000 on the RuPay variant also do not accrue airmiles.
• Validity and Value: Airmiles are valid for three years from the date of accrual. When redeemed for flights, hotels, and travel add-ons on Kotak Unbox, each airmile is valued at ₹1. For non-travel redemptions like gift vouchers and merchandise, the value is ₹0.50 per airmile. Notably, only up to 80% of the transaction value can be paid using airmiles for travel bookings, vouchers, and merchandise; the remaining 20% must be paid using the Solitaire Credit Card.

Transferring Airmiles

A significant advantage of the Kotak Solitaire Credit Card is the ability to transfer your accumulated airmiles to a diverse range of airline and hotel loyalty programs. This opens up a world of redemption possibilities for flights and stays. The minimum transfer requirement is 2,000 airmiles.

Here are the transfer ratios for the current partner programs:

This list includes major global airline alliances like Qatar Airways, British Airways, Cathay Pacific, Star Alliance (United Airlines, Air Canada, Singapore Airlines, Air India), and SkyTeam (Air France), as well as Etihad Airways. The hotel partners are Accor's ALL and Marriott Bonvoy, providing options for hotel stays worldwide.

2. Kotak Solitaire Credit Card Lounge Access

For the frequent flyer, the Kotak Solitaire Credit Card offers truly unlimited comfort at airports:

• Unlimited Lounge Access: Both primary and add-on cardholders enjoy unlimited complimentary access to domestic and international airport lounges.
• Domestic Access: This is facilitated through the DreamFolks program.
• International Access: International lounge access is provided via Priority Pass. Note that for international lounge access using Priority Pass, a validation charge of $1 will be debited and automatically reversed within 7 working days. For domestic lounges via DreamFolks, a ₹2 validation charge may apply.
• Guest Access: The card also includes 4 complimentary guest lounge visits per year for the primary cardholder (2 domestic and 2 international).

3. Zero Forex Markup: A standout feature for international travellers is the zero forex markup on all international transactions, saving you significantly on currency conversion fees. However, it's important to remember that no airmiles are earned on international transactions.

4. Additional Benefits

• Fuel Surcharge Waiver: Enjoy a 1% fuel surcharge waiver at all Indian petrol pumps on transactions between ₹400 and ₹7,500, with a maximum waiver of ₹10,000 per card anniversary year. Note that no airmiles are earned on fuel transactions.
• Low Cash Withdrawal Charges: Withdraw cash from ATMs worldwide at a low fee of just 1% of the advance amount. Significantly, no interest or APR is charged on cash withdrawals until the payment due date. However, no airmiles are earned on cash withdrawals.
• ITC Hotels Privileges: Cardholders receive exclusive benefits at ITC Hotels, Elivaas Villas, and Alaya Stays, including 50% off on the second night and a complimentary third night when booking two consecutive nights. These benefits are part of the Visa Infinite privileges associated with the card.

Not sure if Solitaire is the best pick for you? Compare it with other Kotak credit cards to make an informed choice.

Is the Kotak Solitaire Credit Card the Best for You?

The Kotak Solitaire Credit Card presents a compelling package for frequent travellers, especially those who are part of the Kotak Solitaire Program and can avail themselves of it without the significant annual fee. The accelerated reward rate on travel bookings through Kotak Unbox is attractive, and the unlimited lounge access and zero forex markup are valuable benefits for international travel.

However, the high annual fee for non-Solitaire customers and the fact that airmiles are not earned on international transactions are factors to consider. The redemption value of airmiles for non-travel purposes is also relatively lower.

If you are a Kotak Solitaire Program member or receive an invitation and frequently travel, the benefits of this card, particularly the waived annual fee and unlimited lounge access, could make it a top contender. For others, it's crucial to weigh the benefits against the annual fee and your spending patterns to determine if it aligns with your travel needs and financial profile.

Ultimately, the "best" travel credit card depends on individual spending habits, travel frequency, and loyalty to specific airline or hotel programs. The Kotak Solitaire Credit Card offers a strong suite of travel-centric benefits, making it a noteworthy option for the right customer.