Kotak Mahindra Bank Credit Card Eligibility

Credit Card Eligibility Factors

1. Credit Score: One’s credit score is one of the qualifying criteria. Having a fair score above 750 and usually not exceeding 900 increases one’s chances of getting approved. When it is less than 700, it is most likely that person’s application will not be successful.
2. Existing Debt: Before they grant you a credit card, banks consider and analyze your existing debts and how much credit you are already using. In case the amount of loans you have outstand is beyond a fair and reasonable credit limit, your application may be turned down.
3. Employment: Your employment status is another determining factor in one’s qualification. It is more likely to improve your chances of getting a credit card if you apply after having worked for the same employer for more than a year, thus job security in this case is an advantage.
4. Location: Location is also a primary consideration because some banks restrict the issuance of credit cards to some specific cities. So, please do ensure that your location is one of the eligible locations for the card prior to application.

Documents Required to Apply for a Kotak Mahindra Credit Card

The set of documents that one needs to have at hand when applying for credit card is determined by the applicant’s category. Please note that photocopies of your papers need to be provided; however original papers may as well be required for verification purposes.

For those who are employed:

1. Identification Proof: Any one of an Aadhaar Card, PAN Card, Driving License, Voter ID Card, Passport
2. Address Proof: apply any one from Utility Bill, Ration Card, Passport, Driving License, Voter ID Card
3. Income Proof: Salary slips, Form 16, or Income Tax Returns (ITR) (one of them)
4. Date of Birth Proof: 10th standard school certificate, Birth certificate, Passport, Voter ID Card (any of them)

For Self-Employed Individuals:

1. Identification Proof: Any one of Aadhar card, PAN card, driver’s license, voter’s ID, passport
2. Address Proof: Utility Bills, Ration Cards, a passport, driver’s license, a voter’s ID, and last two months’ bank statement (any of these)
3. Employment Status Proof: Income tax returns along with computation of income, certified financial records, evidence of continuous operation of firms, PAN Card (any one)
4. Date of Birth Proof: 10th standard school certificate, birth certificate, passport, voter id card (any of these)

For The Scholars:

1. Identification Proof: Aadhaar Card, PAN Card, Driving Licence, Voter ID Card, Passport (any one)
2. Address Proof: Utility Bill, Ration Card, Passport, Driving License, Voter ID Card (any one)
3. Date of Birth Proof: 10th standard school certificate, birth certificate, passport, voter id card (any one)
4. Proof of Being a Student: College ID card, Admission Record, Study letter from College or University (any one)

NRIs:

1. Identification Proof: Valid Passport or Driving License
2. Address Proof: Driving License, Passport, Electricity Bill, Telephone/ Post-paid Mobile Bill, Bank statements, Voter ID, Rent Agreement, Lease Deed, Property Title particularly anyone)

Top Kotak Credit Card Eligibility Criteria

Kotak Royale Signature Credit Card

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

1. The applicant should be a citizen of India.

1. People residing in Ahmedabad, Bangalore, Chandigarh, Chennai, Delhi (including Gurgaon and Noida), Hyderabad, Kolkata, Mumbai and Pune can apply for this credit card.

Kotak PVR Gold Credit Card

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

Kotak PVR Platinum Credit Card

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

Eligibility Criteria for Other Kotak Credit Cards

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

1. Multiple credit inquiries
2. Number of credit cards you own
3. Recent delinquency on your credit report
4. “Charge-off” or “Settled” remark on your credit report
5. 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:

1. 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.
2. Avoid making multiple hard enquiries for credit cards or any other lines of credit.
3. Maintain a good Debt-to-Income Ratio.
4. Avoid cheque bounces, late fees, and penalties on all your active lines of credit.

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