YES Bank Anq Phi Credit Card – Benefits, Fees & Eligibility

Introduction

The YES Bank Anq Phi Credit Card is a co-branded fintech card developed in partnership with ANQ Finance. This card is designed to provide rewards for everyday spending across various categories such as groceries, travel, and dining, suiting diverse lifestyles. With no joining fee, cardholders can easily earn and redeem points for a range of rewards. Key benefits include three complimentary international airport lounge visits annually, a fuel surcharge waiver, and airport concierge service, making travel experiences smoother and more enjoyable. This card is a valuable option for individuals who prioritize shopping and travel rewards and wish to maximize returns on their expenditures.

Welcome Benefits

• No welcome benefits are offered with this card.

Fees

• Joining Fee: Nil
• Renewal Fee: ₹499 + GST
• Spend-Based Waiver: The renewal fee can be waived if the cardholder spends ₹1.2 lakhs or more in the preceding year.
• Rewards Redemption Fee: ₹100 + GST
• Foreign Currency Markup: 3.40%
• Interest Rates:
  • Monthly: 3.99%
  • Annually: 47.88%
• Fuel Surcharge: A 1% waiver is provided on fuel surcharges for transactions between ₹400 and ₹5,000 at petrol pumps across India. The maximum waiver is capped at ₹300 per month.
• Cash Advance Charges: 2.5% of the amount withdrawn or ₹500, whichever is higher.

Rewards

• Reward Type: Reward Points
• Reward Rate:
  • 24 Reward Points on every ₹200 spent on categories like groceries, travel, dining, apparel, and OTTs.
  • 4 Reward Points on every ₹200 spent on other select categories.
• Reward Accumulation: Points can be accumulated without any cap, allowing for unlimited rewards.
• International Lounge Access: Enjoy 3 complimentary visits to international airport lounges annually. This includes amenities like free snacks, beverages, and Wi-Fi.
• Airport Concierge Services: Preferential rates are offered for airport concierge service. A dedicated Meet & Greet agent provides assistance with check-in, security, and boarding for both arrivals and departures.
• Fuel Surcharge Waiver: A 1% waiver on fuel surcharges is available for transactions between ₹400 and ₹5,000 at fuel stations across India, with a maximum waiver of ₹300 per month.
• Excluded Transactions for Reward Points: Reward Points will not be earned on fuel purchases, rent payments, wallet loading, government services, ATM withdrawals, utility and telecom bill payments, insurance premiums, toll and bridge fees, educational services, purchases of jewelry, watches, clocks, silverware, Point of Interest funding transactions, hospital expenses, automated cash disbursements, precious stones and metals, cash advances, fees and charges, and transactions converted to EMI.
• Movie & Dining: While spending on dining earns reward points, there are no specific movie or dining perks/benefits provided beyond the reward rate.
• Travel: While spending on travel earns reward points, there are no specific travel benefits beyond the reward rate and international lounge access.
• Domestic Lounge Access: Not applicable.
• Golf: Not applicable.
• Insurance Benefits: Not applicable.

Rewards Redemption Guide

• Earned Reward Points (RP) can be redeemed for various options, including merchandise vouchers and gift cards.
• To redeem, visit the official YES Bank rewards portal.
• Choose from redemption categories such as merchandise, travel bookings, or cashback.
• Points can be converted into gift vouchers for popular brands.
• The YES Bank mobile app allows users to easily track their points for convenient redemption.

Card Eligibility Criteria

• Age Requirement: Applicants must be between 21 and 60 years old.
• Employment Status: Both salaried and self-employed individuals are eligible to apply.
• Income Criteria: A minimum net monthly salary of ₹25,000 is required, or an income tax return (ITR) showing an annual income of ₹7.5 lakhs and above.
• Existing Customers: Current YES Bank credit cardholders are not eligible for this specific card.
• Documentation: Required documents will include proof of age, income, and employment status during the application process.

Card Review

The YES Bank Anq Phi Credit Card stands out with its zero joining fee and the potential for a waived renewal fee, which can be achieved through adequate annual spending. The reward structure is particularly appealing, offering a generous rate of 24 Reward Points per ₹200 spent across popular categories like groceries, travel, and dining, with unlimited earning potential. The inclusion of three complimentary international airport lounge visits annually enhances the travel experience significantly. While the card lacks specific benefits for movies, dining perks, or dedicated travel programs beyond reward points, its core offerings of solid reward rates and lounge access make it a valuable tool. This card is especially well-suited for individuals who frequently shop and travel and are looking for a straightforward rewards program without a high upfront cost.

Important Product Details

• The card comes with no joining fee.
• The renewal fee is waived if the cardholder spends more than ₹1.2 lakhs in the previous year.
• Enjoy three complimentary international airport lounge visits annually.
• A 1% fuel surcharge waiver is provided on fuel transactions.
• The Forex Markup fee of 3.40% is considered high.
• Specific dining perks or entertainment benefits beyond earning reward points are not included.

Other Details

• This credit card is a co-branded product developed in partnership with ANQ Finance.