Everything You Need to Know About Axis/ Yes Bank Kiwi Credit Card
Kiwi is a recent addition to the credit card offerings in India, designed to offer a wide range of rewards and benefits to users. From rewarding your everyday UPI transactions to offering perks on dining, travel, and shopping, the Kiwi Credit Card provides a robust package for anyone looking to maximize the value of their spending. In this review, we'll break down everything you need to know, including eligibility, reward structure, exclusions, and charges.
Eligibility Criteria
To apply for the Kiwi Credit Card, applicants need to meet the following eligibility criteria:
- Age: There is no age specified criteria mentioned on their website, but usually, individuals between the ages of 25 and 45 can apply.
- You should not be holding any YES Bank Credit Card and Axis Kiwi Credit Card.
Fees Structure
- Joining Fee: NIL
- Annual Fee: NIL as this is lifetime free credit card
- Interest Rate: The monthly rate is 3.6% whereas the annual rate is 52.86%
Reward Rate Structure
The Kiwi Credit Card comes with an attractive reward program, offering various ways to earn points on your spending. Kiwi Rewards is a program that awards points called "Kiwis" for using your Kiwi credit card. Here's how the reward rate breaks down:
- Earning Rate: 1% cashback on Kiwi UPI scan & pay transactions and 0.5% cashback on online transactions. However, the transactions should be in multipliers of ₹50 only.
- Value of Kiwis: 1 Kiwi = ₹0.25. In other terms, each Kiwi is worth ₹0.25 and can be redeemed anytime into your linked GoaXb UPI ID account.
- Cashback Cap: Limited to 1% of the total credit limit, which means if your credit limit is ₹50,000, you can earn a maximum of ₹500 per month. So, higher the limit, higher the cashback potential.
- Exclusions: No Kiwis are earned on spends for jewelry, insurance, financial institutions, utilities, transportation, retail outlets, educational institutions, government services, and many more categories.
Kiwi RuPay Credit Card Neon Subscription
Eligibility Criteria
This membership is applicable only to customers who have a Yes Bank Klick credit card issued via the Kiwi app.
Fees
The membership fee for this program is ₹999 (exclusive of taxes). The membership is non-refundable and valid for a year from the date of enrollment. Customers can renew their membership annually.
Membership Benefits
- 2% cashback on Kiwi UPI scan & pay transactions and 0.5% cashback on online transactions.
- Milestone Rewards (based on yearly spends on the Kiwi app):
- 3% cashback on ₹50,000+ spends, plus 1 additional lounge access.
- 4% cashback on ₹1,00,000+ spends, plus 1 lounge access.
- 5% cashback on ₹1,50,000+ eligible spends, plus 1 extra lounge access.
- Eligible Spends: Total spends on the Kiwi app, except exclusion categories(as mentioned above) and refunds.
- Milestone rewards are credited 30 days after the end of the month, while the base 2% Kiwi rewards are earned immediately after the transaction.
Transactions Comparison Table
| Transactions | Without Neon Membership | With Neon Membership |
|---|---|---|
| Online | 0.5% | 0.5% |
| Scan and Pay | 1% | 2% |
Is the Kiwi Credit Card Right for You?
The Kiwi Credit Card offers several compelling features for potential cardholders. With no joining or annual fees, it's an attractive option for those looking for a lifetime free card. The reward structure is straightforward, offering cashback on UPI transactions and online purchases.
The Neon subscription might be worth considering if you frequently use UPI for payments, as it doubles your cashback rate from 1% to 2%. The milestone rewards can also be attractive if you're a high spender, potentially reaching up to 5% cashback on eligible transactions.
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