Kotak Bank had started a digital savings account named 811 sometime back. It was an instant hit with quick onboarding and lesser charges. Now, Kotak has extended the 811 product range to launch an entry-level credit card. Here is a review of the Lifetime Free Kotak 811 #DreamDifferent credit card. Is this LTF card worth applying for? Let’s find out.
Fees and Charges
| Joining Fee | NIL (LTF) |
| Welcome Benefit | 500 RP on Rs 5000 spent in the first 45 days |
| Annual Fee | NIL (LTF) |
| Annual Fee Waiver | Not Applicable |
Rewards
- Online spends: 2 RP/Rs 100 ~0.5% Value
- All other spends: 1RP/Rs 100 ~0.25% Value
- Excluded spends for rewards: Fuel and Railway Spends
Annual Milestone Benefit
We get two options as a milestone benefit on spending Rs 75000 in an anniversary year.
- Option 1: Rs 750 cashback ~1% value
- Option 2: 4 free PVR tickets
Both options provide almost the same value as we can also get Buy One Get One on PVR movie tickets with other credit card offers.
Rewards Redemption
Accumulated reward points can be redeemed on the Kotak Rewards portal. The value for each reward point is 25 paise for all the options. Redemption options include:
- Domestic Flights and Hotels
- Product Catalog
- Mobile Recharge
- Gift Vouchers including Amazon and Flipkart
- Statement Credit
Key Benefits
- Fuel Surcharge Waiver: 1% for transactions between Rs 500 and Rs 4000. The maximum waiver is capped at Rs 3500/calendar year.
- Railway Surcharge Waiver: 1.8% waiver for online IRCTC and 2.5% waiver for railway booking counters.
Final Thoughts
With the milestone benefit, the reward rate on the 811 DreamDifferent credit card is between 1.25% to 1.5%. While it is decent, we have many entry-level credit cards that can provide better rewards. One benefit of having the LTF 811 DreamDifferent credit card would be to take advantage of Kotak Bank-specific offers. But, other than that I don’t see a use for this card.
