Hi, As told by many of them there are Benefits to be heard as "Benefits", but on the flip side it is invitation of trouble, and NOT TRUE benefits . ( Probably they are, When you do a lot of homework , if you are jobless, seeking for those tiny benefits.)
Firstly they have all sorts of contacts with different companies like TATA AIG who are another painful guys to deal with , whom you could hardly ever reach and need to call a dozen times to get your things done.
There is no way you can even BEG Kotak to stop getting these sales calls on your mobiles , as for DND facility probably they need you to have a savings account as I understood as per my conversation with them . without which they would say i’m sorry sir please initiate this from your mobile service provider, Where in you are blocking yourself to all the services even from your mobile vendor and not just Kotak.
Secondly, their website says , you would get a ""10% cash back "Anywhere
Coffee Shops | Fast Food Joints | Pubs & Bars | Restaurantsels, pubs etc, """ " ( this is from their Site) . I’ve billed twice at Taj hotel for over 1000 bucks and have got Nothing credited to my account as cash back , So they say , the hotel should be listed as a "Hotel" when the billing is being processed for you to receive the cash back. and so for that freaking 10% you need to do all these home work and find out if Taj was registered as a Hotel or Restaurent and iif Oberoi was registered as lodge or a pub and then go for it. :-) uffffffff... GOD BLESS YOU !
Thirdly, Not only from third party organisations but Kotak also calls you quite frequesntly to find out if you can be offered their CPP(credit protection plan) plan , balance transfers , bla bla bla bla that could possibly exist on earth to make you bankrupt. ( lol)
This is very interesting . I HAVENT EVER SEEN A BANK WHO REDUCES CREDIT LIMIT AT THEIR OWN DISCRETION, out of my credit card experience with banks like icici / HDFC who have been very pleasant enough ( HDFC stands out ) citibank to some extent adds junk memberships to your account and starts charging you , But of my 6 years of credit card usage experience, I have never seen anyone touching my credit limit that was offered.
But Kotak needs to be given an Award for that. I am greatful that I havent done a Huge billing this month on kotak as I trusted more on ICICI and HDFC, I would have ended up in Negative limit, as my credit limit was dropped drastically and I would have been forced to pay all the outstanding . Finally , I HAVE DECIDED TO CANCEL THE CARD. For your information all this happenned in 2 months from the time the card was issued :-) . Let me Reiterate. With Kotak card , you are a toy who plays at their keying. As you wouldnt know what ur Credit limit would be either to manage your funds.Besides this, be ready for all the sales calls coming your way if you are going to apply for their card despite all this.
Well, Summarising all these crazy experiences , I would say one last thing KOTAK CARDS ARE A MESS) Many banks offer Gold cards, which are true and with many privileged benefits, like accessing launges in airports and other discounts, as these discounts are offered by VISA most of the time and not these banks themselves. who just try to make their business out of the offers being given by VISA ( Payment Gateway)for Any VISA GOLD or respective cards that the offers are valid on.
Best of Luck and Thanks for reading through.