YES Bank BYOC Credit Card – Benefits, Fees & Eligibility

YES Bank BYOC Credit Card

Introduction

The YES Bank BYOC Credit Card, where BYOC stands for ‘Build Your Own Card,’ is a customizable credit card recently launched by YES Bank. It features a monthly membership fee of Rs. 49, with optional additional one-time fees for customizing the physical card. Cardholders can choose from a metal, eco-friendly, or regular plastic variant, and also select their rewards plan based on their spending behavior. This card offers competitive reward rates and additional privileges across various categories such as travel and golf.

Fees

• Joining Fee: Rs. 49 + GST (Monthly)
• Renewal Fee: Rs. 49 + GST (Monthly)
• Spend-Based Waiver: Not applicable
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 3.5% of the total transaction amount
• Interest Rates: 3.80% per month
• Fuel Surcharge: 1% surcharge waiver on fuel transactions between Rs. 400 and Rs. 5,000.
• Cash Advance Charges: 2.5% of the withdrawn amount, subject to a minimum of Rs. 300.
• Optional Card Customization Fees:
  • Metal Credit Card: One-time fee of Rs. 3,499.
  • Eco-friendly credit card: One-time fee of Rs. 249.
  • Regular Plastic Card: No additional charges.
  • Image personalization in card: One-time fee of Rs. 149.

Rewards

• Cardholders have the flexibility to choose between a cashback or a reward points program.
• Cashback Option: Earn 1% cashback on all retail spends.
• Reward Points Option: Earn 8 Reward Points on every retail spend of Rs. 200.
• No rewards or cashback are earned on fuel transactions, cash withdrawals, EMI transactions, or credit card fee payments.
• Accelerated Cashback Plans: Cardholders can opt to earn accelerated cashback on selected merchants by purchasing one of the following plans:
  • Silver Plan: Choose 2 merchants out of 5 for Rs. 99 plus taxes.
  • Gold Plan: Choose 3 merchants out of 5 for Rs. 149 plus taxes.
  • Platinum Plan: Access accelerated cashback on all 5 merchants for Rs. 249 plus taxes.
  • Available Merchants: Swiggy, Uber, Pharmeasy, BookMyShow, and BigBasket.
• Travel Benefits: Enjoy complimentary airport lounge access every quarter.
• Domestic Lounge Access: Receive 1 complimentary domestic lounge access every quarter, totaling 4 accesses per year.
• Golf Privileges:
  • Get 4 complimentary golf games every year.
  • Receive 1 complimentary golf lesson each calendar month.
• Fuel Surcharge Waiver: Benefit from a 1% fuel surcharge waiver on all fuel transactions across India, applicable for transactions between Rs. 400 and Rs. 5,000.

Rewards Redemption Guide

• Reward points earned with this credit card can be redeemed against various options available on the YesRewardz portal.
• The monetary value of 1 Reward Point can be up to Re. 0.25.
• If the cashback option is chosen, the cashback amount is automatically credited to the cardholders’ accounts.

Card Eligibility Criteria

Eligibility Rules

• Age: The applicant's age should be between 21 years and 60 years.
• Employment Status: The applicant must be either salaried or self-employed.
• Income:
  • For salaried individuals: A minimum monthly income of Rs. 25,000 is required.
  • For self-employed individuals: A minimum Income Tax Return (ITR) of Rs. 5 lakhs is required.
• Credit Score: The applicant should maintain a decent credit score.

Documents Required

• Identity Proof: Aadhar Card, PAN Card, Passport, Voter’s ID, or Driving License.
• Address Proof: Aadhar Card, Passport, Ration Card, or latest months’ utility bills.
• Income Proof: Latest months’ salary slips/bank statements, or latest audited ITR.

Card Review

The YES Bank BYOC Credit Card stands out for its extensive customization options, allowing cardholders to tailor both the physical appearance and features to match their spending habits. It caters to a broad audience, from those seeking a premium metal card to individuals preferring a basic card with an affordable monthly fee. The ability to choose between cashback or reward points, coupled with benefits like complimentary lounge access and golf privileges, makes it a versatile option. This card is recommended for anyone looking for a personalized credit card experience, whether they prioritize high cashback or a rich rewards program.

Important Product Details

• A fully customizable credit card.
• Cardholders have the option to choose between cashback or rewards programs.
• Earn 1% cashback or 8 Reward Points on every spend of Rs. 200.
• Ability to choose a cashback plan to earn accelerated cashback on preferred merchants.
• Includes complimentary airport lounge access.
• Offers complimentary golf games annually and golf lessons monthly.
• Provides a 1% fuel surcharge waiver on all fuel transactions.

Other Details

• Best Suited For: Shopping.
• Application Process: Applications can be submitted online via YES Bank’s official website by filling out a digital application form, or offline by visiting a nearest Yes Bank branch with the required documents.
• Interest Rate Discrepancy: While the main Fees & Charges section states an interest rate of 3.80% per month, one of the FAQs mentions 3.5% per month.