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Devaluation Kotak Myntra Credit Card Discontinued effective 10th July 2025 🚨
- Thread starter pinki
- Start date
- Replies 79
- Views 2K
ye email kis email id se aaya hai?
I haven't received any email yet.
knight
TF Legend
retailproducts@mail.kotak.in
Sub: Your Myntra Kotak Credit Card will soon be replaced
Also, did anyone try the 'Opt Out' Button?
Is it just for Promotional emails or related to the card change?
Sub: Your Myntra Kotak Credit Card will soon be replaced
Also, did anyone try the 'Opt Out' Button?
Is it just for Promotional emails or related to the card change?
I think it ( the opt out) was related to card change..
I clicked on opt out.. and this came immediately under 1 second, without any re-confirmation screen..
lets see what happens...
I think the card will be closed.
I don’t want to write any email.. most likely they might close the card.. if lucky, they might call me before closure.. will update here in any case
Gau₹av
TF Legend
With the ban on Kotak, surely this must have hurt Myntra's business since there's a revenue sharing agreement always between partnership cards. But there must have been a contractual agreement until a certain date after which Myntra decided to end it with Kotak. That's what seems like it. Kiwi was also going to partner with Kotak but before that, the RBI ban happened. Who knows if they will even consider Kotak now, they may have walked away and towards AU. Kotak needs to take their credit card business seriously besides fixing the compliance issues with RBI. No compelling cards although a couple or two used to be good - Essentia Platinum, Privy League Signature.
Zen which is their so called "higher end" offering for normal people, outside of HNIs/Solitaire, is pathetic after June 2005 devaluation. The base reward rate is now 0.67%, down from 0.8%. 0.5% bonus is given after 6L milestone so it becomes 1.17%. On very specific MCCs - Apparels, Lifestyle goods, Departmental Stores & Jewelery - base reward rate is now 1.3% down from 1.66%, and 0.5% bonus given after 6L milestone so 1.8%. That 6L milestone is yearly which means until the year completes, any more spends beyond 6L=reward rate comes down again 🤦🏻♂️
On League Platinum, it's 0.1% base without milestone and ≈1% with 1.25L 6 monthly milestone. Spends beyond 1.25L in those 6 months brings reward rate down again. What a joke!
With IDFC Wealth for example, the base RR is 0.5% every month but around 80K spends, increases to 1.3% (0.5% till 20K+1.66% above 20K) and around 1.6L spends increases to 1.5%.
Zen which is their so called "higher end" offering for normal people, outside of HNIs/Solitaire, is pathetic after June 2005 devaluation. The base reward rate is now 0.67%, down from 0.8%. 0.5% bonus is given after 6L milestone so it becomes 1.17%. On very specific MCCs - Apparels, Lifestyle goods, Departmental Stores & Jewelery - base reward rate is now 1.3% down from 1.66%, and 0.5% bonus given after 6L milestone so 1.8%. That 6L milestone is yearly which means until the year completes, any more spends beyond 6L=reward rate comes down again 🤦🏻♂️
On League Platinum, it's 0.1% base without milestone and ≈1% with 1.25L 6 monthly milestone. Spends beyond 1.25L in those 6 months brings reward rate down again. What a joke!
With IDFC Wealth for example, the base RR is 0.5% every month but around 80K spends, increases to 1.3% (0.5% till 20K+1.66% above 20K) and around 1.6L spends increases to 1.5%.
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sayantandas
TF Buzz
Kotak had already planned the closure of this card way in advance when it sent the upgrade offer to Zen card about a month back to me (picture attached). I had ignored the mail back then but when saw the thread that Kotak Myntra is getting discontinued, I was pretty sure that it would be upgraded to Zen and guess what I was right. Yesterday got the mail that my Myntra CC would be migrated to Zen CC unless I opt out.
Also one more thing to note is that if one takes the offer they have to pay the same annual fees of 590 for Zen also and not 1770 (gst included) according to the mail received. That's what I perceived from the mail. Also confirmed in this video.
So the question arises if zen cc should be taken/beneficial at the price of 590 rs or not. Please suggest.
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I don't think that the fee will remain same. Banks usually don't have different fee structures for the same card from customer to customer. I think what kotak was trying to say in the mail is that the lifetime free cards will be migrated to new cards as LTF and paid ones will remain paid. However if someone is getting migrated to Zen, he'll be charged Rs. 1500 + GST as fee only, which is Zen card's actual fee.
fradela
TF Ace
Yes Uni Gold X card where you will get 5% cashback for Myntra Vouchers.
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