Kotak hikes fees — 1% on utility, fuel, wallet

Kotak Mahindra Bank has announced changes to its premium credit card offerings, effective June 1, 2025. The bank will now charge a 1% fee on utility transactions above ₹75,000, fuel transactions above ₹50,000, and wallet and gaming transactions above ₹10,000 per cycle. Additionally, a 2% DCC fee will be applied to international transactions on premium cards like White Reserve. The new fees will significantly impact heavy spenders who use their Kotak credit cards for utility, fuel, and wallet transactions. The 1% fee on transactions above certain limits will increase the cost of using these cards for large purchases. Furthermore, the introduction of a 2% DCC fee on premium cards will make international transactions more expensive. Our take: 1% on utility above ₹75,000, fuel above ₹50,000 and wallet or gaming above ₹10,000 a cycle turns Kotak’s premium deck into a card you have to spend around rather than spend on. The 2% DCC charge is the sharper cut — it lands on international transactions, which is the one job a premium card is carried abroad to do. Move bills and wallet loads off these cards, and never let a foreign terminal bill you in rupees on a White Reserve.