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Myntra Kotak credit card ends July 10: Here's what changes for users
What's changing for cardholders?
From July 10, the Myntra Kotak Credit Card will no longer be valid for transactions. Cardholders will automatically receive the Kotak League Platinum card as a replacement. Those who prefer not to migrate can choose to close their account by contacting the bank's customer care before the migration date.
Users are also advised to update any standing instructions or auto-payments linked to their existing card to avoid disruptions.
Key features of the Kotak League Platinum Credit Card
The Kotak League Platinum card offers broader usage benefits but does away with Myntra-specific rewards.
Rewards: Earn eight reward points for every Rs 150 spent on general purchases (excluding certain categories like fuel, rent, wallet loads, education, and gaming).
Railway surcharge waiver: Up to Rs 500 per year.
Milestone benefits: Spend Rs 1.25 lakh in six months to get 4 PVR tickets or 10,000 reward points.
How does it compare to the Myntra card?
The Myntra Kotak Credit Card offered 7.5 per cent instant discounts on Myntra purchases and 1.25 per cent cashback on other spends, alongside a complimentary Myntra Insider membership. However, the League Platinum focuses on reward points and milestone benefits instead of brand-specific discounts.
Additionally, Kotak has from June 1 revised its credit card rewards policy. No reward points will be earned on utility bill payments above Rs 35,000 per billing cycle, or on wallet loads, insurance, and select other categories.
What should cardholders do?
Review the League Platinum card's rewards and fee structure to see if it suits their spending habits.
Update recurring payments linked to the old card.
If the new card doesn't fit their needs, consider exploring alternative options or requesting card cancellation.
Kotak Mahindra Bank has assured customers that the annual fee for the new card will remain the same as the Myntra card at Rs 499 plus taxes.
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an hour ago
- Indian Express
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Much like DMart focused on serving value-conscious middle-class households in the suburbs and smaller cities rather than competing with luxury grocery stores in urban centres, Aditya Vision chose to focus on Tier-2 and Tier-3 towns across Bihar, Jharkhand, and Uttar Pradesh. The core idea is simple: offer a wide range of everyday electronics and appliances at competitive prices, backed by fast delivery and reliable service. By sourcing about 85% of its products directly from original equipment manufacturers (OEMs), it eliminates middlemen, just as DMart negotiated directly with suppliers in its early days to secure better prices. This direct buying approach allows both companies to offer better deals to customers and build lasting trust in regions where affordability drives buying decisions. Like DMart, Aditya Vision stays away from private labels and focuses on national brands that resonate with local consumers. 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Brand recall and word-of-mouth: In smaller cities, word-of-mouth can be more powerful than large marketing budgets. Customers trust what their friends and relatives recommend. In FY25, Aditya Vision reported Rs 2,260 crore in revenue, up nearly 30% from the previous year. Profit after tax also grew by 37% to Rs 105 crore. But beyond these key numbers, the detailed operational data tells us why this growth is meaningful. Same-store sales growth (SSSG) of 15%: This is a strong indicator that existing stores are getting stronger, not just new stores driving overall sales. In DMart's early growth phase, high SSSG was also a hallmark showing deeper market penetration and rising customer loyalty rather than dependence on store additions alone. 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This quick turnaround closely resembles DMart's early years, where stores were designed to turn profitable quickly and add to network profitability rather than become financial burdens. In FY25, Aditya Vision maintained a gross margin of around 16%, steady compared to last year. This stability demonstrates disciplined pricing and strong supplier relationships, even with promotional campaigns in new regions. EBITDA margin stood at 9%, a slight dip from 9.6% in FY24, driven by operating expenses from new stores opening ahead of their full revenue ramp-up. However, this remains comfortably within the guided 8-10% range. Like DMart, the company prefers stable, modest margins to chase volume growth rather than quick price hikes. At the net level, the PAT margin improved to 4.7%, up from 4.4% in FY24. Lower finance costs and a disciplined approach to expenses helped lift net profitability despite rapid expansion. 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This rise was intentional; the company stocked up on cooling products like ACs and refrigerators ahead of the summer season to avoid stock-outs. Management expects these to sell through in early FY26. While higher inventory ties up cash temporarily, Aditya Vision has shown an ability to normalise inventory levels quickly, which is critical for avoiding forced discounting. Despite the increase in inventory, the overall working capital cycle remains healthy. Aditya Vision uses a mix of internal accruals and short-term borrowings to fund this temporary build-up, avoiding long-term debt. By March 2025, it had about Rs 278 crore in short-term borrowings (up from Rs 125 crore), but with Rs 121 crore in cash, the net debt position remained moderate. Most importantly, Aditya Vision remains net debt-free on a long-term basis, reflecting its conservative financing mindset. 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Parth Parikh has over a decade of experience in finance and research and currently heads the growth and content vertical at Finsire. He holds an FRM Charter and an MBA in Finance from Narsee Monjee Institute of Management Studies. Disclosure: The writer and his dependents do not hold the stocks discussed in this article. The website managers, its employee(s), and contributors/writers/authors of articles have or may have an outstanding buy or sell position or holding in the securities, options on securities or other related investments of issuers and/or companies discussed therein. The content of the articles and the interpretation of data are solely the personal views of the contributors/ writers/authors. Investors must make their own investment decisions based on their specific objectives, resources and only after consulting such independent advisors as may be necessary.
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