Kotak Mahindra Bank has launched a new credit card called Solitaire, offering unlimited and free domestic and international airport lounge access for both primary and add-on cardholders. The card also provides zero forex mark-up charges on international transactions and accelerated Air Miles benefits. Cardholders can convert their Air Miles to airline-specific miles, such as Etihad Airways, Air India, and Cathay Pacific, with a conversion ratio of 2:1 for most airlines.
The Solitaire credit card has an annual fee of Rs 25,000, but it is offered for free to Kotak Solitaire bank account holders. There are no joining fees for any customer. The card offers unlimited domestic and international lounge access, with four free lounge access for guests per year. The lounge access benefit includes two domestic lounge accesses and two international lounge accesses, with validation charges of Rs 2 for domestic lounges and USD 1 for international lounges.
The card’s Air Miles reward program offers three Air Miles for every Rs 100 spent on other spends, excluding certain categories such as utility, telecom, insurance, education, and government transactions. Accelerated Air Miles are offered for spends on Kotak Unbox, with 10 Air Miles for every Rs 100 spent on flight and hotel bookings. The Air Miles can be transferred to partner airlines and hotels, with a minimum transfer requirement of 2,000 Air Miles.
The redemption value of Air Miles on vouchers/catalogue purchases is Rs 0.5 per Air Mile, with a minimum redemption requirement of 500 Air Miles. Cardholders can also transfer reward points from another Kotak credit card to the Solitaire credit card, with the transferred points being valid for three years.
According to Ankur Mittal, co-founder of CardInsider.in, a credit card comparison website, the Solitaire credit card is a premium offering with valuable features like unlimited lounge access and zero forex markup. However, he suggests that improving the reward-to-miles conversion rate from 2:1 to 1:1 could make the card a top-tier contender in the premium travel segment.
Overall, the Kotak Solitaire credit card offers a range of benefits and features that cater to the needs of frequent travelers, including unlimited lounge access, zero forex mark-up charges, and accelerated Air Miles benefits. However, the card’s annual fee and conversion ratios may be a consideration for some users.