YES Bank RESERV Credit Card – Benefits, Fees & Eligibility

Introduction

The YES Bank RESERV Credit Card, previously known as the First Exclusive credit card, is a high-end offering by Yes Bank, positioned as a competitor in the premium segment. It stands out with one of the lowest foreign currency markups in the industry at 2%, complimentary access to both international and domestic airport lounges, and additional benefits such as complimentary rounds of golf and discounted movie tickets.

Fees

• Joining Fee: ₹2,499 + GST
• Annual Fee: ₹2,499 + GST
• Spend-Based Waiver:
  • The Joining Fee is waived on spending ₹40,000 within 30 days of card issuance.
  • The Renewal Fee is waived on annual spends of ₹3 Lakh or more.
• Rewards Redemption Fee: ₹100 + GST
• Foreign Currency Markup: 2%
• Interest Rates: 2.99% Per Month (35.88% Annually)
• Fuel Surcharge Waiver: 1% waiver on fuel transactions between ₹500 and ₹4,000, with a maximum benefit capped at ₹500 per month.
• Cash Advance Charges: 2.5% or ₹650 (whichever is higher).

Rewards

• Rewards Rate:
  • 24 Reward Points for every ₹200 spent online.
  • 12 Reward Points for every ₹200 spent on offline shopping.
  • 6 Reward Points for every ₹200 spent on select categories including insurance, education, government, tax payments, and wallet payments.
• Maximum Reward Points: A maximum of 36,000 Reward Points can be earned in a statement cycle.
• Reward Point Validity: Yes Bank Reward Points are valid for 3 years from the date of accumulation.
• Reward Point Exclusions: Reward Points will not be awarded for fuel transactions, cash withdrawals, rental/wallet payments, and transactions converted into EMI.
• Travel Benefits:
  • Domestic Lounge Access: 12 complimentary domestic lounge visits every year (3 per quarter) at select airports across India. This benefit is also available for add-on credit card holders. Access is based on spending ₹1 Lakh or more in the previous quarter. Effective April 1, 2025, access to domestic airport lounges will be based on spending criteria, requiring a spend of ₹1 Lakh in the previous quarter for each lounge access quarter (Jan-Mar, Apr-Jun, Jul-Sep, Oct-Dec).
  • International Lounge Access: 6 complimentary lounge visits outside India each year for primary and add-on cardholders.
  • Airline Transfer: Reward points can be transferred to partner airline programs like Air India Maharaja Club at a conversion ratio of 15:1 under the RESERV (YES First Exclusive) program.
• Golf:
  • 4 complimentary rounds of golf with green fee waived per year.
  • 1 complimentary golf lesson per year.
• Insurance Benefits:
  • ₹15 Lakh Credit Shield Cover, providing financial protection against unforeseen events.
  • Lost Card Liability Protection ranging from ₹15 Lakh to ₹30 Lakh, ensuring enhanced security against unauthorized transactions.
• Renewal Benefit: Get 8,000 Reward Points on payment of renewal charges, applicable from the second year.

Rewards Redemption Guide

• Yes Bank Reward Points can be redeemed on the YesRewardz portal.
• Redemption options include purchasing various products, e-vouchers, travel bookings, and movie tickets.
• Yes Rewardz is Yes Bank’s reward redemption portal.

Card Eligibility Criteria

• Must be a resident of India.
• Must be between the ages of 21 and 60 years.
• Should have a minimum monthly income of ₹2 lakh or an annual income of ₹18 lakh or above.

Card Review

The YES Bank RESERV Credit Card is a strong contender for individuals who frequently travel internationally, offering a significant benefit of six complimentary international lounge accesses, which also extends to add-on cardholders. While it presents attractive features, a notable drawback is that domestic lounge access is contingent on meeting specific spending requirements. Despite this limitation, the card remains a suitable choice for high-net-worth individuals seeking premium benefits.

Important Product Details

• Low Foreign Currency Markup: One of the lowest in the market at 2%.
• Comprehensive Reward Program: Earns up to 24 Reward Points per ₹200 spent, with higher rates for online shopping.
• Extensive Travel Benefits: Includes both domestic (spend-based) and international lounge access for primary and add-on cardholders, and reward point transfers to airline programs.
• Golf Privileges: Offers complimentary golf rounds and lessons.
• Robust Insurance Coverage: Provides Credit Shield Cover and Lost Card Liability Protection.
• Renewal Bonus: Receive 8,000 Reward Points upon renewal fee payment from the second year.
• Spend-Based Lounge Access: Domestic lounge access requires a spend of ₹1 Lakh in the previous quarter.
• Rewards Redemption Fee: A fee of ₹100 + GST is charged for reward point redemption.
• High Interest Rates: Interest rates are 2.99% per month (35.88% annually).

Other Details

• The card was earlier known as the First Exclusive credit card.
• Reward points earned are valid for 3 years from the date of accumulation and expire thereafter.
• The card offers zero liability protection for fraudulent transactions reported after the loss of the card. However, liability for transactions made before reporting the loss lies solely with the cardholder.