YES ACE Credit Card – Benefits, Fees & Eligibility

1. Introduction

The YES ACE Credit Card, issued by YES BANK Ltd., is a shopping-focused credit card designed for individuals seeking to maximize savings on their everyday spending. Formerly known as the Prosperity Rewards Plus Credit Card, it offers a competitive reward structure, particularly for online purchases, alongside a low joining fee and the opportunity for fee waivers. Key highlights include 8 Reward Points per ₹200 on online spends, a waiver of annual fees on achieving a spend threshold, and purchase protection for electronics.

2. Fees & Waiver Math

Fees

• Joining Fee: ₹499 (Explicit) + 18% GST (Derived) = ₹588.82 (Derived)
• Annual Fee: ₹499 (Explicit) + 18% GST (Derived) = ₹588.82 (Derived)

Waiver Logic

• Joining Fee Waiver: Spend ₹5,000 or more within 30 days of receiving the credit card (Explicit).
• Annual Fee Waiver: Spend ₹50,000 or more in an anniversary year (Explicit).

Charges

• Interest Rate: 3.99% Per Month (Explicit) / 47.88% Annually (Explicit)
• Foreign Currency Markup: 2.75% of the transaction amount (Explicit)
• Cash Advance Fee: 2.5% or ₹500, whichever is higher (Explicit)
• Fuel Surcharge: 1% waiver across all fuel stations in India (Explicit)
  • Minimum transaction: ₹400 (Explicit)
  • Maximum transaction: ₹5,000 (Explicit)
  • Maximum benefit: ₹125 per month (Explicit)
• Reward Redemption Fee: ₹100 on every redemption request (Explicit)

Late Payment Charges

No data available from input

3. Rewards & Milestone Matrix

Reward Earning Structure

Accrual Logic

• Reward Points are earned per ₹200 spent (Explicit).
• Reward Points expire 36 months after the date they are earned (Explicit).

Milestones

• Joining Fee Waiver: Spend ₹5,000 or more within 30 days of receiving the credit card (Explicit).
• Annual Fee Waiver: Spend ₹50,000 or more in an anniversary year (Explicit).

4. Redemption, Liquidity & Partners

Point Value

• Cashback conversion: No data available from input
• Voucher/flight conversion:
  • Against Flights/Hotels: 1 Reward Point = ₹0.25 (Explicit)
  • Against Gift Vouchers/Products: 1 Reward Point = ₹0.10 (Explicit)

Liquidity Constraints

• Redemption Fee: ₹100 per redemption request (Explicit).
• Redemption Platform: YesRewardz (Explicit).

Transfer Partners

No data available from input

5. Forex & International

Forex Table

6. Travel & Lifestyle Benefits

• Dining: Buy 1 Get 1 on Coffee at Select Outlets (Explicit).
• Offers: Avail great offers on dining, shopping, travel, wellness, etc., through YesPrivileges (Explicit).

7. Exclusion Velocity & Capping

Exclusions

• Reward Point Exclusions: Fuel transactions, cash withdrawals, and payments converted into EMIs (Explicit).
• Category Exclusions for Higher Rewards: "Select categories" are excluded from the 8 RP and 4 RP rates, instead earning 2 RP (Explicit).

Caps

• Online Shopping Rewards: Capped at 5,000 Reward Points per statement cycle (Explicit).
• Fuel Surcharge Waiver: Maximum benefit of ₹125 per month (Explicit).

8. Eligibility & MRV

• Age: 21 to 60 years (Explicit).
• Income:
  • Minimum net salary: ₹25,000 per month (Explicit) OR
  • Income Tax Return: ₹7.5 lakhs or above (Explicit).
• Employment: Self-employed or salaried (Explicit).

9. Card Review & ROI Analysis

Pros

• Low joining and annual fees (Explicit).
• Waiver of joining and renewal fees on achieving spend milestones (Explicit).
• High reward rate for online shopping (Explicit).
• Purchase protection for mobile phones and electronics (Explicit).

Cons

• No international or domestic lounge access (Explicit).
• No movie benefits (Explicit).
• Reward redemption fee of ₹100 per request (Explicit).
• Reward points cap on online spending (Explicit).

Break-Even Analysis

• Annual Fee (including GST): ₹588.82 (Derived)
• Spend for Annual Fee Waiver: ₹50,000 (Explicit)
• Spend to offset Annual Fee via Rewards (Flights/Hotels, 1 RP = ₹0.25):
  • Reward Points needed: 2355.28 RPs (Derived)
  • Online Spend: ₹58,882 (Derived)
  • Offline Spend: ₹117,764 (Derived)
  • Utility/Insurance Spend: ₹235,528 (Derived)

Verdict

The YES ACE Credit Card is a value-positive option, particularly for individuals with significant online shopping habits and those who can consistently meet the annual spend threshold for fee waivers. It's ideal for users looking to save on everyday expenses, especially in categories like online shopping, utilities, and insurance, while also benefiting from purchase protection. However, it is not suitable for frequent travelers seeking lounge access or individuals prioritizing movie benefits.

10. Important Product Details

• Reward Point Expiry: Reward Points expire 36 months after the date they are earned (Explicit).

11. Other Details

• Insurance: Purchase Protection for mobile phones and electronics purchased online, covering accidental damage up to 6 months (Explicit).
• Platform/Provider: YesPrivileges for offers, YesRewardz for reward redemption (Explicit).
• Legal Notes: YES BANK Ltd. is re-directing users to a third-party site not owned, controlled, or endorsed by YES BANK Ltd., and usage of content is subject to the third-party website's terms, conditions, and disclaimers (Explicit).