Kotak Card – Trumps Down!

Happens to the best of us.

I am normally one of those who would read the fine print before signing the dotted line. But well, Kotak Bank’s Credit Cards department managed to take me for a ride.

A couple of months ago, they were really selling this series of ‘Trump’ credit cards which offered you 10% cash back on dining and movies at all establishments listed by VISA. They also tried to sell using words like hassle-free, value and benefits

Looking to do away with a card from another bank and wishing to take over a new one, I promptly jumped on this offer. Everything seemed fine with it, but in the last two weeks Kotak Cards has ensured that I’d leave  them soon…

  • Fraud Protection cover – Sometime in October, a gentleman called from the Bank offering me a fraud protection cover at around 350 bucks which would ensure that nothing goes wrong if I lose the credit card including any transactions which might happen before I report the loss. I signed up for it (and immediately regretted doing it too!). 10 days later another gentleman called from the bank offering me same protection for all my cards across banks, he added that earlier insurance would offer only a 12 hour safety but this one would give a week’s safety from the fraudulent transactions! I was unimpressed, and miffed, barely 10 days later a man from the same bank is telling me that my earlier insurance was not a good deal and I should sign up for the next one! Proving that my earlier choice wasn’t good enough! Of course that call didn’t go well.
  • 10% Cash back for life (or is it?) – Now this happened today morning, was reading my credit card statement. Whaaat?! No cashback? Why? In September I got cash back from the same restaurant. What happened? Like any other intelligent customer I called up the customer care, the nice person on the other side of the phone explained that ‘Sir, the terms and conditions have changed since 20 September 2010, now you need to have atleast 5k bill on the card, <2.5k(or whatever) on the restaurant bill, VISA establishment proof, no more than 600 cash back and no more than 6 such transactions in a month’ to be eligible for the cashback. Only after completing all of these seemingly impossible conditions shall I get that cashback! I was like WTF, I got cashback earlier why this now? He said(in almost the same words),’We have mentioned our terms and conditions  that card conditions are subject to change without notice. You can view the terms on the website’ (it was definitely a polite way of telling me to f**k off!). So I barked at him, ‘So whenever you change your terms and conditions you’d imagine me to surf off to your website after a divine realisation would strike me?’ Anyways, the discussion had met its end.

So while Kotak Bank is busy celebrating its 25th birthday, I am planning to dump them soon. This is one of those examples of ruining a neutral customer experience by you own doing. In short just letting them know that they have been taken for a ride.

It’s great to be 25, isn’t it?

PS – Tried copying this post to http://www.twitter.com/kotakcards, and twitter tells me that the account has been suspended! 🙂


5 thoughts on “Kotak Card – Trumps Down!

  1. I had some what similar experience with HSBC bank credit, which I blocked but not cancelled and they called me after a year asking for interests of around 7000/- they levied as interest, whereas I cleared all my previous bills. After raising the concern of interest, which they promised no annual charges while subscribing, they raised the request and cancelled it.

  2. I have used HSBC, HDFC, Standard Charted and ICICI.

    Standard Charted stood out for me. 3 years and not once I had to complain.

    HSBC has been a pain in the ass.

    1. Hey Karan,
      Yes I was a HSBC subscriber till recently, and they were quite annoying! SO i cancelled them and chose another bad one…Kotak!
      HDFC has been hassle-free till now (shall i say touch-wood!)


  3. Ha Ha

    What else did you expect.
    There are no freebies in this world.
    Just shred the plastic and send it back.. 🙂

    Well Citi and Standard Chartered have worked fine for me so far.


  4. Dear customer,

    We apologize for your experience and request you to kindly furnish us with your Kotak Credit Card number / CRN at kotakcards@kotak.com. We will be glad to assist you with detailed information regarding your complaint.

    Regards, Kotak Support Team

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