It seems it is raining cash backs for those who are travelling abroad for the winters. First, we saw a very generous offer from American Express, where they are offering Marriott Vouchers to their customers. Citibank is offering a waiver on the forex charges for these customers. And then, there is Kotak. Now, Kotak Credit Card customers travelling abroad can save some extra money on international transactions, as Kotak Credit card is offering a cashback through February 2019 on Foreign Exchange transactions.
Kotak is currently running a promotion, offering a 5% cashback on international transactions, running into a minimum of Rs 50,000. The promotion is valid up to February 28, 2019. To avail of this promotion, Kotak credit card holders need to register through an SMS stating “KABROAD” to 5676788 from their registered mobile number.
The catch is, this promotion is only valid on high-value transactions of INR 50,000 and above. The maximum cashback under this promotion is fixed at INR 5,000/-, a cardholder should spend up to INR 100,000 to avail max cashback. Also, each add-on card will get the same benefits under this promotion. Corporate and Commercial cards won’t be able to avail this promotion.
Here are some essential terms and conditions regarding the promotion:
- The offer is valid on retail international transactions during the promotion period.
- The minimum transaction for availing the cashback is INR 50,000.
- The promotion is valid only up to February 28, 2019.
- Each cardholder can use this promotion only once.
- Add-on cards will get the same benefits under this promotion.
- Cashback earned during the promotion will be credited within 60 days post the offer end date.
- This promotion is not valid on Corporate and Commercial cards.
- This offer is not valid on transactions in Nepal and Bhutan
This is an opportunity for Kotak customers travelling abroad to save some money, but only on the higher transactions. Also, with add-on cards earning the same benefits, it will be an added bonus, especially for family members travelling together. [Editors’ take, although if you are a high roller, you shouldn’t be spending that money on a Kotak Credit Card in the first place]
What do you think of the Kotak Bank Credit Card promotion for forex cashback? Would you bite?