Kotak Virtual Purchase Credit Card
KeepThe Purchase Card's terms with nothing to carry — and Kotak has not said what else changes.
no published earn rate to price
Skip the arithmetic — the board, ranked → · nothing to sign up for
What it's worth to you, after the fee
Not valued. We can't value this card until the issuer publishes how it earns — every net-value number here would be a fee subtracted from rewards nobody has described. Everything we can source — the fee, the charges, the migration that put this card in your hand — is above and stands on its own; this card is simply not on the board, not in the calculator, and cannot win a best-of call until Kotak Mahindra Bank publishes terms we can cite.
Why we decline to value some cards, and what it takes to change that →
2 notes on the card itself: how it is issued · why it ranks #565
Why #565 Carried, not ranked. The Purchase Card's economics exactly — free, 3.30% a month, no cash — with no plastic. Kotak names the variant in two regulatory tables and describes it nowhere, so what the virtual programme actually does is a question for the corporate agreement.
The take
Kotak's Virtual Purchase Credit Card is named twice in one regulatory document and described in none. Its Key Fact Statement — the Purchase Card's, version 04082026 — puts it on the same fee line as the Purchase Card at NIL joining and NIL annual, and on the same finance line at 3.30% a month, 39.60% a year, with cash withdrawal marked NA. So the money is settled: this variant costs what the Purchase Card costs and charges what the Purchase Card charges, including the 1.1% on utility and insurance payments, the waived fuel surcharge between ₹500 and ₹3,000, and the railway surcharge that the KFS and the MITC both treat as charged. What Kotak has not published is anything about the virtual part. There is no product page, no feature list, no statement of whether a number is minted per payment or per supplier, no authorisation-control description, no data-field count — all things Axis and SBI publish in detail for their equivalents. The corporate MITC does not mention it either; only the KFS names it, on two lines. That absence is worth stating plainly rather than filling in from a sibling bank. If a company is choosing between corporate virtual-card programmes, Kotak's is the one whose mechanics have to be extracted from a relationship manager rather than read. What can be said is that the underlying card is documented well — three Kotak documents agree on the Purchase Card's terms — and that this variant inherits them.
Your renewal — keep, downgrade or cancel
There is no renewal arithmetic to run on this card yet — and a break-even we cannot source is not one we will print.
the whole desk — what changed, the downgrade, and what we cannot price →
Keep, downgrade or cancel
what we can and cannot price
Not valued. We can't value this card until the issuer publishes how it earns — every net-value number here would be a fee subtracted from rewards nobody has described. A break-even is the spend at which value crosses a fee, and we are short one side of that sentence — so this desk prints no ladder, no crossing and no ₹0 standing in for either. What we can source about this card is under Sources.
Your copy of this card
You hold this card.
Kept on this device, in your browser. It is never sent to us, never synced, and nothing else on the site reads it yet.
The downgrade
Kotak Mahindra Bank publishes no document naming a card you can step down to, so we name none — an invented product change is a phone call you would waste. That leaves keep or cancel, and we cannot price either side of it.
What has changed under this card
- 1 Jun 2025 Kotak's June-2025 fee wave washes over the premium deck issuer-wide
- 12 Feb 2025 RBI lifts Kotak's ten-month card-issuance ban issuer-wide
We price what is in force today — a change that has not happened yet is not in these numbers. the full archive for this card →
If you call to cancel
What the bank offers to keep you is the one fact this desk cannot compute. We are collecting those reports — dated, and only in aggregate — before publishing any: an offer one reader was made is not one you are owed. Called about this card? Tell us what they offered →
The desk publishes subscribable .ics feeds for the dates it knows — offer deadlines, devaluations, expiry audits. Your renewal date is not one of them: only your statement knows it.
What's good
- Nil to open and nil a year, on the Purchase Card's own Key Fact Statement fee row
- No plastic to lose, replace or courier
- Interest-free credit up to 48 days from the start of the billing cycle, per the same KFS
- Fuel surcharge waived on transactions between ₹500 and ₹3,000, up to ₹3,500 a calendar year
- Card replacement, returned-cheque handling and the rest of the Purchase Card's charge schedule apply unchanged
Watch out
- Kotak publishes NO description of the virtual programme — no product page, no feature list, no control model, no data fields
- No reward rate either; the MITC puts any incentive at the bank's discretion, per company, by email
- The railway surcharge is charged, per both the KFS and MITC clause 5.6 — the Purchase Card page's "waived" cell disagrees with both
- Utility bills and insurance premiums carry a 1.1% transaction fee
- Revolving costs 3.30% a month, 39.60% a year, and the minimum amount due can be the entire bill
- No cash: withdrawal is not available under Kotak's Corporate Liability Programme
- Forex runs up to 3.50%, the Indian norm
- No lounge access is published for it, and it opens no door on our map
What these points actually fly
Kotak Mahindra Bank has not published what this card earns, so there are no points here to fly with — not zero points, and not points that go nowhere: nothing stated either way. The moment a benefit sheet exists we will price whatever it names.
what the cards that DO reach a chart can fly — 2,196 corridors priced →
Lounge access
0 of 793 tracked doors
No lounge access. This card opens exactly 0 of 793 tracked lounge doors — board with the crowd, or find a card that doesn't →
Can you get it?
the route in — no cutoffs published
The cutoffs and the actual route in — not the "apply now" button, the door that opens.
Direct application — no invite list, no banking relationship required.
Through the Purchase Card programme: a Kotak Corporate Agreement signed at onboarding, a Program Administrator or Authorised Signatory running it, and the commercial-cards desk at service.corporatecards@kotak.com. The Purchase Card's product page carries a live "Apply Now"; Kotak publishes no separate route, and no turnover, headcount or income bar.
Kotak Mahindra Bank publishes no income or age cutoffs for this card. Blank means blank — we don't invent numbers to fill a grid.
no MITC row researched for this card yet · filter the board by what you can get →
What's changed for this card
8 dated changes
Devaluations and buffs that touch this card directly, its issuer, or the points and programs it earns and transfers to. Every one is dated here; the tracker carries each one's before → after and the write-up.
- 30 Sept 2026Dream Different's unredeemed reward points expire after 30 September 2026Reward points accrued on the Dream Different Credit Card up to 31 March 2026 sitting in the account with no stated expiry date → A hard forfeiture date — "After 30th September, 2026, any unredeemed Reward Points will automatically expire"
The second half of the note that closed the programme is the part holders can still act on. Kotak's cardholder agreement gives every Dream Different point accrued up to 31 March 2026 a six-month redemption window that shuts on 30 September 2026, after which unredeemed points are forfeited outright. At the agreement's own conversion rate of 25 paise per point, a year of the card's headline 4-points-per-₹100 online earn on ₹1 lakh of online spend is roughly 4,000 points, about ₹1,000 — small money, but money that becomes zero on 1 October. Points redeem against the Kotak catalogue (flights, hotels, vouchers, merchandise) or as a statement credit through the rewards portal or the contact centre, each with its own minimum, so a last-week redemption risks missing the date on processing alone.
- 1 Sept 2026Kotak's Dream Different joining fee goes ₹250 → ₹424 and the waiver disappears
- 1 Sept 2026Kotak halves dynamic currency conversion on Dream Different, 3.5% to 2%
- 1 Apr 2026Kotak discontinues the reward points programme on Dream Different
- 1 Jun 2025Kotak guts Privy League Signature and pulls it from sale
- 1 Jun 2025Kotak's June-2025 fee wave washes over the premium deck
- 12 Feb 2025RBI lifts Kotak's ten-month card-issuance ban
- 12 May 2022Kotak quietly lists White Reserve — a card with no earn rate
Every Kotak Mahindra Bank change we've dated → 8 events since 2022, 5 of them nerfs — worst year 2026.
Verified against Kotak Mahindra Bank's own documents on
Not published , and we will not invent it: the earn rate and the currency it earns.
Every document behind this page — 2 of them, each with the day we read it
- official Key Fact Statement for the Kotak Purchase Credit Card, version 04082026 — the only Kotak document that names this variant, in its fee and finance tables
- official MITC of Kotak Corporate Credit Cards — the discretionary incentive clause behind the unpriced earn, and the surcharge lists that corroborate the KFS