Santa Claus comes around just once a year. In the meantime, there are Credit Cards.

Kotak Mahindra Bank Credit Card Eligibility

Kotak Mahindra Bank is one of the largest private banks in India offering a wide range of credit cards to suit your needs. Kotak Mahindra credit cards are available with competitive interest rates in the country. You can enjoy several exciting benefits and features of Kotak Mahindra credit cards; however, if want to apply for a Kotak credit card, you’ll have to meet certain eligibility criteria.  

The below are the basic eligibility criteria to apply for American Express Credit Cards,

  • You need to be between the age of 21 to 65 years.
  • Should be a resident of India.
  • Should be salaried/ self-employed with a steady income.
  • You should have a good credit score or rating.

Here are the Credit Card Eligibility Criteria for Top Kotak Credit Card

Eligibility Criteria

  • Applicant must be between age of 21-65 Years for Primary Card Holders.
  • Applicant must be between age of above 18 Years for Add On Cards.
  • The minimum income required for this card is Rs.24 Lakh Per Annum

Eligibility Criteria

  • Applicant must be between age of 21-65 Years for Primary Card Holders.
  • Applicant must be between age of above 18 Years for Add On Cards.
  • Check with the bank for minimum income required for this card

Eligibility Criteria

  • Applicant must be between age of 21-65 Years for Primary Card Holders.
  • Applicant must be between age of above 18 Years for Add On Cards.
  • Check with the bank for minimum income required for this card

Eligibility Criteria

  • Applicant must be between age of 21-65 Years for Primary Card Holders.
  • Applicant must be between age of above 18 Years for Add On Cards.
  • Check with the bank for minimum income required for this card

Eligibility Criteria

  • Applicant must be between age of 21-65 Years for Primary Card Holders.
  • Applicant must be between age of above 18 Years for Add On Cards.
  • Check with the bank for minimum income required for this card

Eligibility Criteria

  • Applicant must be between age of 21-65 Years for Primary Card Holders.
  • Applicant must be between age of above 18 Years for Add On Cards.
  • Check with the bank for minimum income required for this card
  • Primary cardholder should have a Kotak Privy League Banking Relationship

March- Super Duper Offer by Bankbazaar

  • Avail a gift voucher worth upto Rs.2000 from Amazon on applying for a credit card
  • Voucher will be provided upon approval of the credit card application
  • Offer will be valid from March 1, 2019 to March 28, 2019

Check Credit Card Eligibility Criteria for Other Kotak Credit Cards below,

Card Name Age Requirement Minimum Income Required
Kotak Urbane Gold Credit Card
  • Primary: 21-65 Years
  • Add-on: Above 18 Years
Above Rs.3 lakh per annum
Kotak League Platinum Credit Card
  • Primary: 21-65 Years
  • Add-on: Above 18 Years
Above Rs.5 lakh per annum
Kotak Aqua Gold Credit Card
  • Primary: 18-75 Years
  • Add-on: Above 18 Years
  • Minimum Term Deposit (TD) of Rs.25,000
  •  
  • Only Individual TDs are allowed
 
Kotak Wealth Management Infinite Credit Card
  • Primary: 21-65 Years
  • Add-on: Above 18 Years
Primary cardholder should have a Kotak Wealth Management Banking Relationship
Kotak Fortune Gold Credit Card
  • Primary: 21-65 Years
  • Add-on: Above 18 Years
  • Above Rs.3 lakh per annum
  • For businessmen only
 
Kotak Delight Platinum Credit Card
  • Primary: 21-65 Years
  • Add-on: Above 18 Years
As specified by the bank
Kotak Solaris Platinum Credit Card
  • Primary: 21-65 Years
  • Add-on: Above 18 Years
Above Rs.5 lakh per annum
Kotak Best Price Credit Card
  • Primary: 21-65 Years
  • Add-on: Above 18 Years
As specified by the bank
Kotak Silk Inspire Credit Card
  • Primary: 18-75 Years
  • Add-on: Above 18 Years
  • Minimum Term Deposit (TD) Amount Rs.50,000
  • Only Individual TDs are allowed
  
Kotak NRI Royale Signature Credit Card
  • Primary: 18-75 Years
  •  
  • Add-on: Above 18 Years
  • Only NRI/ NRE account holders
  • Minimum Fixed Deposit (FD) Amount Rs.1 lakh
  
Kotak Feast Gold Credit Card
  • Primary: 21-65 Years
  • Add-on: Above 18 Years
Above Rs.3 lakh per annum

Documents Required to Apply for a Kotak Mahindra Bank Credit Card

To avail a Kotak Mahindra credit card, below are the basic documents required by an applicant. 

  • Voter ID, Passport, Driving License, etc. as KYC documents.
  • Permanent Account Number (PAN) card or Form 60 if PAN is unavailable.
  • Income proof such as salary slip or income tax returns (form 16).
  • Bank statement.

Factors That Affect Your Kotak Mahindra Bank Credit Card Eligibility

There are many factors that affect your Kotak Mahindra Bank credit card eligibility criteria. Some of the factors are as follows:

  • Age of the applicant: As mentioned in the table, for primary credit cards, the minimum age of the applicant should be 21 years and the maximum age should not exceed 65 years. For an add-on credit card, the minimum age of the applicant should be at least 18 years. If you do not meet the age limit set by Kotak, your credit card application may be rejected.
  • Total income: Your income has a direct impact on your credit card application. The type of credit card you get will be decided after considering your income.
  • Debt-to-Income Ratio (DTI): Credit card providers calculate the Debt-to-Income Ratio when you apply for a card. The DTI Ratio is calculated by dividing your gross monthly debt by your monthly income. The chances of your credit card application getting rejected will be high if you have a high DTI Ratio.
  • Credit score: The credit bureaus in India, namely Experian, TransUnion, and Equifax assign your credit score based on your credit history. A credit score can range from 300 to 800. Your credit card application may be rejected if you have a low credit score. A high credit score will help you get better credit card deals.
  • Lack of credit history:If you do not have a credit history, lenders will not be able to assess your repayment capacity. If you have not availed any lines of credit before, your credit card provider will not be able to judge if you are a responsible borrower. Consider building a positive credit history before applying for a credit card.
  • A high outstanding amount on your existing credit cards: If you have an existing credit card, the bank will check the outstanding due amount and your payment history on the card. If you are not a prompt payer and if have defaulted on your credit card bill, your application may be rejected.
  • Settled accounts:In the past, if you worked out a settlement with your credit card provider, it will appear in your credit report. This remark will have a negative impact on your credit card.

Some other factors that can affect your credit card eligibility are:

  • Multiple credit inquiries
  • Number of credit cards you own
  • Recent delinquency on your credit report
  • “Charge-off” or “Settled” remark on your credit report
  • Job stability

How To Improve Your Kotak Mahindra Bank Credit Card Eligibility

If your credit card application is rejected, you can apply again after improving your eligibility. Some of the ways you can improve your credit card eligibility are:

  • Check your credit score and improve it if it is low. You can increase your credit score in many ways. Reducing your total debt, paying your bills on time, and maintaining a good credit utilisation rate can help you boost your credit score.
  • Avoid making multiple hard enquiries for credit cards or any other lines of credit.
  • Maintain a good Debt-to-Income Ratio.
  • Avoid cheque bounces, late fees, and penalties on all your active lines of credit.
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