YES Bank RESERV Credit Card – Benefits, Fees & Eligibility

YES Bank RESERV Credit Card

Introduction

The YES Bank RESERV Credit Card, previously known as the First Exclusive credit card, is a premium offering from YES Bank. It is positioned as a competitor in the high-end credit card segment. Key highlights of the card include complimentary access to both international and domestic airport lounges and one of the lowest foreign currency markups in the industry at 1.75%. As a premium card, it also provides benefits such as complimentary golf rounds and potential movie ticket discounts.

Welcome Benefits

• N/A (as explicitly stated in the card details).

Fees

• Joining Fee: ₹2,499 + GST
• Renewal 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: 1.75% (plus applicable taxes)
• Interest Rates: 2.99% per month (35.88% annually)
• Fuel Surcharge: 1% fuel surcharge is waived on all fuel purchases at all fuel stations across India for transactions between ₹400 and ₹5,000. This waiver is capped at ₹1,000 per month.
• Cash Advance Charges: 2.5% or ₹500 (whichever is higher)

Rewards

• Rewards Rate:
  • 24 Reward Points for every ₹200 spent on online shopping.
  • 12 Reward Points for every ₹200 spent on offline shopping.
  • 6 Reward Points for every ₹200 spent on select categories including insurance, education, government, 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 accumulation date.
• Exclusions for Reward Points: Reward Points will not be awarded for fuel transactions, cash withdrawals, rental/wallet payments, and transactions converted into EMI.
• Movies & Dining: N/A (as explicitly stated in the rewards section, though mentioned generally in the introduction).
• Travel:
  • Travel offers are available on the Yes Privileges portal.
  • 12 complimentary domestic lounge accesses annually (3 per quarter) at select airports across India. This benefit is also available for add-on credit card holders.
  • Access to domestic airport lounges effective 1st April 2025 will be based on spending criteria.
  • To avail domestic lounge access, a spend threshold of ₹1 Lakh is required in the previous quarter for each quarter (Jan-March, April-June, July-Sept, Oct-Dec).
  • 6 complimentary international lounge accesses outside India each year for primary and add-on cardholders.
  • Reward Points are transferable to partner airlines’ AirMiles.
• Golf:
  • 4 complimentary rounds of golf with green fee waived per year.
  • 1 complimentary golf lesson per year.
• Insurance Benefits:
  • Insurance coverage worth ₹3 crore in case of loss of life due to an air accident.
  • Medical insurance worth ₹50 lakh for emergency overseas hospitalization.
  • Credit Shield cover up to ₹10 lakh against outstanding card dues in the unfortunate event of the primary cardholder's death.
  • A credit shield cover worth ₹15 lakh against the card’s balance amount in case of accidental death of the primary cardholder.
• Renewal Benefit: Get 8,000 Reward Points on payment of renewal charges, applicable from the second year onwards.

Rewards Redemption Guide

• Yes Bank Reward Points can be redeemed on the YesRewardz portal.
• The YesRewardz portal allows redemption for various products, e-vouchers, travel bookings, and movie tickets.
• Yes Rewardz is Yes Bank’s reward redemption portal where you can redeem your reward points for exclusive products, shopping vouchers, and hotel/flight/movie ticket bookings.

Card Eligibility Criteria

• Eligibility Rules:
  • Applicant must be a resident of India.
  • Applicant must be between the age of 21 and 60 years.
  • Applicant should have a minimum monthly income of ₹2 lakh or an annual income of ₹18 lakh or above.
  • Individuals who already hold a Yes Bank Credit Card are not eligible for the RESERVE Card.
• Documents Required:
  • Identity proof.
  • Address proof.
  • Passport-size photo.
  • Proof of income (salary slip(s) for salaried employees, ITR documents for self-employed applicants).

Card Review

The YES Bank RESERV Credit Card is a strong option for individuals who travel internationally frequently, offering six complimentary international lounge accesses per year, which extends to add-on cardholders. Its foreign currency markup of 1.75% is one of the lowest in the market. However, a notable drawback is that domestic lounge access is contingent upon meeting a spending threshold of ₹1 Lakh in the preceding quarter. Despite these limitations, the card remains a suitable choice for high-net-worth individuals seeking premium travel and lifestyle benefits.

Important Product Details

• Positive Highlights:
  • One of the lowest foreign currency markups at 1.75%.
  • Generous international lounge access (6 visits annually) for primary and add-on cardholders.
  • Complimentary golf rounds and lessons provided.
  • High reward rate for online shopping (24 Reward Points for every ₹200 spent).
  • Comprehensive insurance coverage, including air accident, overseas hospitalization, and credit shield.
  • Renewal benefit of 8,000 Reward Points.
  • Waiver options for both joining and renewal fees based on spending.
• Negative Highlights/Considerations:
  • Domestic lounge access requires a minimum spend of ₹1 Lakh in the previous quarter.
  • Reward points are not earned on fuel transactions, cash withdrawals, rental/wallet payments, and EMI conversions.
  • A fee of ₹100 + GST applies for reward point redemption.
  • Explicitly states "N/A" for welcome benefits, despite a joining fee waiver on spend.

Other Details

• The card was formerly known as the YES Bank First Exclusive Credit Card.
• The card is generally promoted with benefits such as movie ticket bookings at a discounted rate, though the dedicated "Movie & Dining" reward section explicitly states N/A.
• How to Apply: Applications can be submitted online via the bank's website by filling in personal details. Alternatively, individuals can visit their nearest YES Bank branch.
• Zero Liability Protection: The card offers zero liability protection for fraudulent transactions reported after the loss of the card. However, the cardholder remains liable for any transactions made before reporting the card's loss to customer care.