Kiwi Credit Card Review

What Is the Kiwi Credit Card?

The Kiwi Credit Card is a digital RuPay credit card that you apply for and manage through the Kiwi app. Kiwi has partnered with AU Small Finance Bank, Punjab National Bank (PNB) and YES Bank to issue the card.

However, you can hold only one Kiwi Credit Card. You cannot have a separate Kiwi card from AU, PNB and YES Bank at the same time. The partner bank that issues your card depends on the offer available to you when you apply through the Kiwi app.

You can apply for the card and manage it directly through the Kiwi app, without having to go through a traditional application process. 

Fees and Charges

Since the Kiwi Credit Card is lifetime free, you don't have to worry about paying a joining or annual fee. The interest rate is 3.6% per month (52.86% annually) and only applies if you carry an unpaid balance on your card. 

Eligibility Criteria

• You can generally apply if you are between 21 and 60 years old.

• You will also need to meet the eligibility criteria of the issuing bank.

• Your application is assessed based on the details and information you provide.

Reward Structure

The Kiwi Credit Card Rewards you through its in-house reward currency called Kiwis.

The standard reward structure is straightforward:

• 1.5% cashback on eligible UPI Scan & Pay transactions

• 0.5% cashback on eligible online transactions

• Cashback is calculated on eligible transaction amounts in multiples of ₹100

• Smaller transactions can still count towards Kiwi Neon milestone spending, even if they do not earn cashback under the ₹100 reward calculation rule

The current Kiwi rewards policy confirms that transactions are calculated in multiples of ₹100.

Value of Kiwis: 1 Kiwi = ₹0.25. So, 4 Kiwis are worth ₹1. Kiwis can be redeemed directly into your linked UPI account.

Monthly Cashback Cap:

• Cashback is capped at 1% of your total credit limit

• For example, with a ₹50,000 credit limit, you can earn up to 2,000 Kiwis per month, which is worth ₹500 cashback

This means your actual monthly cashback potential depends partly on the credit limit you receive. A higher credit limit gives you a higher regular monthly reward ceiling. The Kiwi rewards policy also confirms the 1% of credit limit monthly cap.

Excluded Categories

Kiwi's current rewards policy excludes categories such as:

• Jewellery and insurance payments

• Utilities and transportation

• Educational institutions

• Government services

• Financial institutions and wallet-related transactions

Kiwi Neon Subscription and Additional Benefits

If you use UPI regularly, Kiwi Neon is an optional paid membership that can give you higher cashback and milestone benefits. You continue using the same lifetime-free Kiwi Credit Card, but pay separately for the Neon membership.

The membership costs ₹999 + GST per year and is valid for one year. It can be renewed annually and is available to eligible Kiwi Credit Card users with cards issued through the Kiwi app.

Kiwi Neon Cashback & Milestone Benefits

The biggest reason to consider Neon is the higher cashback on UPI payments.

With Neon:

• 2% Base cashback on UPI Scan & Pay transactions

• 0.5% cashback on online transactions

Then there are the annual spending milestones:

• ₹50,000 spends: 3% effective cashback + 1 lounge pass

• ₹1,00,000 spends: 4% effective cashback + 1 lounge pass

• ₹1,50,000 spends: 5% effective cashback + 1 lounge pass

The important thing to understand is that the 3%, 4% and 5% are your total effective cashback rates at each milestone. They are not extra cashback added on top of the 2% base cashback you've already earned.

For example:

• ₹50,000 spend → 3% total cashback = ₹1,500

• ₹1,00,000 spend → 4% total cashback = ₹4,000

• ₹1,50,000 spend → 5% total cashback = ₹7,500

So, if you've already earned cashback through the 2% base rate, Kiwi only adds the remaining amount needed to reach the applicable milestone reward.

The base cashback is credited through the regular rewards system. Milestone rewards and the related lounge access are credited after the applicable processing period, as specified in Kiwi's Neon terms.

Is the Kiwi Credit Card Right for You?

If you already use UPI for your everyday spending, the Kiwi Credit Card is a simple way to earn cashback without paying an annual fee. Just keep the 1% of credit limit monthly cashback cap and reward exclusions in mind.

If you spend a lot through UPI, Kiwi Neon can give you more value with 2% base cashback and milestone rewards. At ₹999 + GST a year, it makes more sense if you can put enough eligible spending through Kiwi.

If you don't use UPI that much, the regular lifetime-free Kiwi Credit Card should be enough.

Keeping track of your cards and rewards doesn't have to be complicated. SaveSage brings your cards, reward points and offers together in one place so you can keep track of what you're earning and make better use of your benefits.