Why should you stay away from Kotak Mahindra Credit Cards?

kotak Mahindra bank

Would you ever want to have anything to take away your mental peace? If yes, click here to apply for a Credit Card from Kotak Mahindra Bank. If not, stay away from Kotak Cards; reasons below:

Below are a couple of reasons why owning a Kotak Mahindra Credit Card has become a headache for me. But before you read further, Do note that:

  • I hold a Secured Credit Card from Kotak against a Fixed Deposit. 
  • The credit limit assigned to me is 80% of the FD amount.
  • As it is a Secured Credit Card with an 80% of FD Limit, the risk factor for Kotak Mahindra Bank is -20% even if I default my payments.
  • I have never defaulted any payment against any of my cards, including Kotak CC.
  • My statement date is the 20th of every month, and like all other cards, I get 15-20 Days to repay the statement amount.

Kotak mahindra credit card

The below issues are being faced for a Secured Credit Card. Imagine holding an Unsecured Credit Card from Kotak Mahindra Bank.

    Non-Stop Robocalls

    • Your phone starts ringing once your Kotak Mahindra Credit Card bill gets generated. You will keep getting these RoboCalls until you clear off the outstanding amount.
    • Mind you, these RoboCalls are always from a different number, so don't think you will block it, and you are done with it.

    Threatening Messages

    • Be prepared to receive tons of messages such as this much before your statement due date.
    ALERT! Rahmat, we have not received payment for your Kotak Bank Credit Card (xx2094). Request you to clear your dues urgently to avoid liquidation of your pledged TD.


    KMB cards

    Unethical Reminder Practices

    • As if RoboCalls and Messages were not enough, you will also receive extensive reminder calls from real agents. And no, your activated/registered DND does not apply to them.
    • These agents start calling you much before the due date and talk to you in a manner that you have done some kind of crime by not paying the bill right after it was generated.
    • These agents, who sound more like a recovery thug, will not tell you their full names in case you require it for any reason.
    • They won't transfer the call to their managers or supervisors if you request them to do so.
    • They might, as per their will, can even hang up the call right into your face in the middle of a conversation. Etiquettes, you see?

    One such reminder call record has been uploaded to our youtube channel. It covers all the above pointers. Must listen to it. Here's the link: https://youtu.be/qZaH3-7gWpQ

    Why should you stay away from Kotak Mahindra Credit Cards?

    Unsolicited Cold Calls

    • Don't be surprised if you receive a payment reminder call from Kotak Mahindra Bank even on the Sunday morning before brushing your teeth.
    • Be ready to receive reminder calls any day, any time. Day or night, evening or morning, doesn't matter.

    Other Reasons

    • Pathetic Customer Support
    • Almost no offers around the year
    • Poor reward rate
    • Out of competition

    CP's Take

    Just imagine if this is how Kotak Mahindra Bank disrupts the peace of a Secured Credit Cardholder, what amount of torture they might do to an individual holding their unsecured card. 

    Most importantly, why even call a person before the due date? Why remind the cardholder of the due date? Are you a bank or a reminder clock?

    I have decided that I am absolutely not ready to entertain this drivel anymore, and I have given a request to close my card and liquidate the FD.

    With all the above pointers, holding a Kotak Credit Card is not worth it at all.

    Should you require any further information, please do not hesitate to drop us a line in the comment section below. Alternatively, you can also write to us at contact@chargeplate.in.

    Thanks for reading!

    Why should you stay away from Kotak Mahindra Credit Cards? Why should you stay away from Kotak Mahindra Credit Cards? Reviewed by Rahmat on April 03, 2022 Rating: 5

    1 comment:

    1. Hello sir, i also want to take SimplyCLICK SBI Card from SBI bank but i don't know how to give any suggestion because i like your way of explaining. Thanks a lot!


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