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. Positioned as a mid-range offering, it is designed to reward users for their everyday spending, particularly in categories like groceries, travel, and dining. This card stands out with no joining fee, offering three complimentary international airport lounge visits annually, and a 1% fuel surcharge waiver, making it an attractive option for those seeking to maximize rewards on shopping and travel expenses.

Welcome Benefits

• Nil

Fees

• Joining Fee: Nil
• Annual Fee: ₹499 + GST
• Spend-Based Waiver: The annual renewal fee of ₹499 + GST is waived if the cardholder spends ₹1.2 lakhs or more in the previous year.
• Rewards Redemption Fee: ₹100 + GST
• Foreign Currency Markup: 3.40%
• Interest Rates: 3.99% per month (47.88% annually)
• Fuel Surcharge Waiver: 1% waiver on fuel transactions between ₹400 to ₹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• Cash Advance Charges: 2.5% of the amount withdrawn or ₹500, whichever is higher.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
• Rewards Rate:
  • Earn 24 Reward Points for every ₹200 spent on groceries, travel, dining, apparel, OTTs, hotels, and fast food.
  • Earn 4 Reward Points for every ₹200 spent on other select categories.
  • There is no cap on the number of Reward Points that can be accumulated.
• Non-Earning Categories: Reward Points are not earned on transactions such as fuel purchases, rent payments, wallet loading, government services, ATM withdrawals, utility and telecom bill payments, insurance premiums, toll and bridge fees, educational services, 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.
• International Lounge Access: Enjoy 3 complimentary visits to international airport lounges annually.
• Airport Concierge Services: Receive preferential rates for airport assistance, including a dedicated Meet & Greet agent to guide through check-in, security, and boarding upon arrival or departure.
• Other Benefits: The card does not include specific benefits for movies, dining (beyond earning points), golf, or insurance.

Rewards Redemption Guide

• Visit the YES Bank rewards portal at yesrewardz.com.
• Choose from a variety of redemption options, including merchandise, travel bookings, or cashback.
• Points can be converted into gift vouchers for popular brands.
• Track your Reward Points easily using the YES Bank mobile app.

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 income of ₹7.5 lakhs and above.
• Existing Customers: Current YES Bank credit cardholders are not eligible for this card.
• Documentation: Necessary documents proving age, income, and employment status will be required during the application process.

Card Review

The YES Bank Anq Phi Credit Card is a valuable option for individuals who prioritize shopping and travel rewards. It comes with no joining fee and offers a potential waiver on its annual renewal fee, making it cost-effective. The reward structure is generous, allowing cardholders to accumulate points without limits across various spending categories. A significant perk is the complimentary access to international airport lounges, enhancing the travel experience. While the card lacks specific dining perks (beyond earning points) and has a relatively high Forex Markup fee, its overall features and user-friendly reward redemption options make it a worthwhile consideration for its target audience.

Important Product Details

• No joining fee is charged for this card.
• Offers 3 complimentary international airport lounge visits each year.
• Provides a 1% fuel surcharge waiver on fuel transactions between ₹400 and ₹5,000, capped at ₹300 per month.
• The annual renewal fee can be waived by spending ₹1.2 lakhs in the previous year.
• The Foreign Currency Markup fee of 3.40% is considered quite high.
• Benefits such as specific dining perks, entertainment, and insurance are not included with this card.
• Reward Points are not earned on certain transaction types, including fuel, utility bills, government services, and cash advances.

Other Details

• The card is co-branded with ANQ Finance.
• It is best suited for shopping.
• The card does not offer any specific insurance benefits.
• Reward Points can be tracked via the YES Bank mobile app.