YES ACE Credit Card – Benefits, Fees & Eligibility

Introduction

The YES ACE Credit Card, formerly known as the YES Prosperity Rewards Plus Credit Card, is designed to enhance the lifestyle of its customers by offering a variety of benefits and exclusive deals. This card features a nominal joining fee of ₹499 and provides attractive reward opportunities, including 8 Reward Points for every ₹200 spent online and 4 Reward Points for every ₹200 spent offline. Additionally, specific categories like government, utility, rental, wallet, and insurance payments earn 2 Reward Points per ₹200. Cardholders also have the opportunity to waive their joining and renewal fees based on their spending habits. Through YesPrivileges, the card unlocks special offers on travel, dining, and shopping.

Welcome Benefits

• The joining fee can be waived by spending ₹5,000 or more within the first 30 days of receiving the credit card.

Fees

• Joining Fee: ₹499 + GST
• Renewal Fee: ₹499 + GST
• Spend-Based Waiver:
  • The joining fee can be waived on spending ₹5,000 or more within 30 days of receiving the credit card.
  • The renewal fee can be waived on spending ₹50,000 or more in an anniversary year.
• Rewards Redemption Fee: ₹100 on every redemption request.
• Foreign Currency Markup: 2.75% of the transaction amount.
• Interest Rates: 3.8% per month.
• Fuel Surcharge:
  • 1% fuel surcharge waiver across all fuel stations in India.
  • Applicable for transactions between ₹400 and ₹5,000.
  • Maximum benefit of ₹125 in a month.
• Cash Advance Charges: 2.5% of the advanced amount or ₹300, whichever is higher.

Rewards

• The card is best suited for shopping.
• Reward Earning Rates:
  • Earn 8 Reward Points on every ₹200 spent on online purchases (excluding select categories).
    • Online spend rewards are capped at 5,000 Reward Points per statement cycle.
  • Earn 4 Reward Points on every ₹200 spent on offline purchases (excluding select categories).
  • Earn 2 Reward Points for every ₹200 spent on select categories, including Recharge, Utility, Rental, Wallet, Insurance, Education, and Government payments.
• Reward Point Expiration: Reward Points expire after a period of 36 months from the date of earning.
• Exclusions for Reward Points: No Reward Points are earned on fuel transactions, cash withdrawals, and payments converted into EMIs.
• Movies & Dining: No direct movie benefits or specific dining reward rates are provided with this card, but offers might be available via YesPrivileges.
• Travel: No specific travel reward rates are provided with this card, but great offers on travel are available through YesPrivileges.
• Domestic Lounge Access: Not provided with this card.
• International Lounge Access: Not provided with this card.
• Golf: Not provided with this card.
• Insurance Benefits:
  • Provides Purchase Protection.
  • Offers insurance cover for mobile phones and electronics purchased online against accidental damage for up to 6 months.
• Lifestyle Benefits:
  • You can avail of great offers on dining, shopping, travel, wellness, and more through YesPrivileges.

Rewards Redemption Guide

• Reward Points earned can be redeemed against a variety of products and vouchers available on the YesRewardz website.
• Redemption Values:
  • 1 Reward Point (RP) = ₹0.25 when redeemed against Flights/Hotels.
  • 1 Reward Point (RP) = ₹0.10 when redeemed against Gift Vouchers/Products.
• Redemption Platform: Points can be redeemed on YesRewardz.
• Redemption Fee: A fee of ₹100 is charged on every redemption request.

Card Eligibility Criteria

• Age: The applicant should be between 21 and 60 years of age.
• Employment Status: Applicant should be either self-employed or salaried.
• Income:
  • Minimum net monthly salary of ₹25,000.
  • Alternatively, an Income Tax Return (ITR) of ₹7.5 lakhs or above.

Card Review

The YES ACE Credit Card is considered a strong choice for individuals looking to maximize savings on their expenditures. It offers exclusive reward benefits and allows cardholders to waive their joining and renewal fees by meeting specific spending thresholds. The earned Reward Points are easily redeemable across various products and categories. Furthermore, the card provides significant lifestyle advantages through YesPrivileges, including attractive offers on dining, travel, and shopping. Overall, it's a valuable card for those who prioritize savings through rewards and desire good lifestyle benefits.

Pros

• Low joining fee of ₹499.
• Opportunity to waive both joining and renewal fees based on spending milestones.
• Provides exclusive reward offers and high earning rates on online and offline spending.
• Reward Points are easily redeemable against a variety of products and categories.
• Offers on dining, shopping, travel, and wellness through YesPrivileges.
• Includes purchase protection for electronics.
• Fuel surcharge waiver available.

Cons

• No international lounge access is provided.
• No domestic lounge access is provided.
• No direct movie benefits are offered with this card.
• A fee of ₹100 is charged for every reward redemption request.
• Foreign currency transactions incur a 2.75% markup.
• Online spend rewards are capped at 5,000 Reward Points per statement cycle.
• Reward points expire after 36 months.
• No Reward Points are earned on fuel, cash withdrawals, or EMI conversions.

Important Product Details

• Earn 8 Reward Points for every ₹200 spent on online purchases (capped at 5,000 RPs per statement cycle).
• Earn 4 Reward Points for every ₹200 spent on offline purchases.
• Earn 2 Reward Points for every ₹200 spent on select categories like Recharge, Utility, Rental, Wallet, Insurance, Education, and Government payments.
• Joining fee waiver on spending ₹5,000 within 30 days.
• Renewal fee waiver on spending ₹50,000 in an anniversary year.
• Benefit from offers on dining, shopping, travel, and wellness through YesPrivileges.
• Provides Purchase Protection insurance for mobile phones and electronics bought online for up to 6 months.
• Offers a 1% fuel surcharge waiver across all fuel stations in India, with a maximum monthly benefit of ₹125 (for transactions between ₹400 and ₹5,000).
• Reward Points expire after 36 months.
• No Reward Points on fuel, cash withdrawals, and EMI conversions.
• A Rewards Redemption Fee of ₹100 applies to each redemption request.
• A Foreign Currency Markup of 2.75% is applicable.
• Interest rate is 3.8% per month.
• Cash advance charges are 2.5% or ₹300, whichever is higher.
• No domestic or international lounge access.
• No specific movie benefits.

Other Details

• Previous Card Name: The card was earlier known as the YES Prosperity Rewards Plus Credit Card.
• Card Rating: 4.2/5
• How To Apply:
  • You can apply for the YES Prosperity Rewards Plus Credit Card online.
  • Keep documents like PAN Card and Aadhaar Card handy for the application process.
  • You can also apply offline by visiting your nearest YES Bank branch.
• Customer Care:
  • A 24*7 customer helpline is available.
  • Toll-free number for calls within India: 1800 103 1212.
  • For calls from outside India: +91 22 4935 0000.
  • Email ID: yestouchcc@yesbank.in