YES Elite+ Credit Card – Benefits, Fees & Eligibility

Introduction

The YES Elite+ Credit Card, offered by Yes Bank, is positioned as a mid-segment credit card designed to provide cardholders with a range of exclusive benefits across various categories such as travel, insurance, movies, dining, and rewards. Key differentiating benefits include complimentary access to domestic and international lounges, a competitive low foreign currency markup fee of 2.75%, and attractive reward rates on online and offline spending.

Welcome Benefits

• Joining Fee Waiver: The joining fee of ₹999 + GST can be waived if you spend ₹20,000 within 30 days of card activation.

Fees

• Joining Fee: ₹999 + GST
• Annual Fee: ₹999 + GST
• Spend-Based Waiver:
  • Joining Fee Waiver: Spend ₹20,000 within 30 days of card issuance.
  • Annual Fee Waiver: Spend ₹2 Lakh or more in a year.
• Rewards Redemption Fee: ₹100 + GST per redemption request.
• Foreign Currency Markup: 2.75% on all foreign currency transactions.
• Interest Rates: 3.99% per month (47.88% annually).
• Fuel Surcharge Waiver: 1% fuel surcharge waiver on fuel transactions between ₹400 and ₹5,000. The maximum benefit is capped at ₹250 per month.
• Cash Advance Charges: 2.5% or ₹500, whichever is higher.
• Other Charges:
  • A 1% charge will apply to utility transactions over ₹15,000 per month.
  • A 1% charge will apply to all rental and wallet transactions.

Rewards

• Rewards Rate:
  • 12 Reward Points for every ₹200 spent online, capped at 12,000 RPs per statement cycle.
  • 6 Reward Points for every ₹200 spent offline.
  • 4 Reward Points for every ₹200 spent on select categories like insurance, education, rental payments, utilities, and government services. Reward earnings on utility payments are capped at 300 RPs per statement cycle.
• Reward Points Validity: Reward Points are valid for a period of 36 months.
• Exclusions for Reward Points: No Reward Points shall be earned for fuel transactions, rental payments, wallet transactions, EMI spends, and cash withdrawals.
• Movie & Dining Benefits:
  • 25% discount on movie bookings with BookMyShow (website and app), with a maximum benefit of ₹250 in a calendar month (up to ₹3,000 in a year).
  • Up to 25% discount on dining at over 1,000 select restaurants through the Yes Bank Dining Fiesta program.
• Travel Benefits:
  • Domestic Lounge Access: 2 complimentary lounge access per calendar quarter for primary cardholders, allowing for 8 accesses per year.
    • Starting April 1st, 2024, access to domestic airport lounges will be based on spending criteria:
      • For April – June quarter: Required spending of ₹10,000.
      • For July – September quarter: Required spending of ₹35,000.
  • International Lounge Access: 3 complimentary airport lounge access outside India per year.
• Golf Benefits:
  • 4 green fee waivers at selected golf courses across India.
  • 1 complimentary golf lesson every calendar month at selected golf courses all over India.
• Insurance Benefits:
  • A Credit Shield Cover worth ₹3 lakhs.
  • Lost Card Liability of ₹3 lakhs.
  • Purchase Protection Plan (up to ₹50,000).
• Rewards Subscription Plan: You can opt for a Rewards Subscription Plan to earn accelerated Reward Points on specified categories. Additional YES Rewardz Points per statement cycle will be capped at 75,000 per customer.
  • First Subscription Plan: Fee of ₹1,500 (one year) for 3X YES Rewardz Points on Offline or Select Category Spends.
  • Second Subscription Plan: Fee of ₹2,500 (one year) for 5X YES Rewardz Points on Travel, Dining, Fashion, and Healthcare.

Rewards Redemption Guide

• Reward Points earned are redeemable through Yes Rewardz for movie, flight, or hotel bookings.
• 1 Reward Point is equivalent to ₹0.25 when redeeming against hotel/flight bookings.
• A Rewards Redemption Fee of ₹100 + GST is applicable on every redemption request.

Card Eligibility Criteria

• Age: Applicant should be between 21 years and 60 years of age.
• Employment Status: Applicants can be either self-employed or salaried.
• Income: Minimum income of ₹1 lakh per month or an Income Tax Return (ITR) of ₹9 lakhs or more.

Card Review

The YES Elite+ Credit Card, issued by Yes Bank, is considered an ideal credit card offering a comprehensive suite of features. It is comparable to other premium cards in its segment, such as the Tata Neu Infinity Credit Card. The card provides exclusive reward offers, exciting travel benefits including free domestic and international lounge access, discounts on movies and dining, golf benefits, and a fuel surcharge waiver. A significant advantage is its low foreign currency markup fee of just 2.75%, which is lower than many other cards, making it highly suitable for individuals who frequently engage in international transactions. With its diverse benefits and a relatively low joining fee of ₹999 + Applicable Taxes, the YES Elite+ Credit Card is an excellent option for individuals seeking premium privileges.

Important Product Details

• Earn 12 Reward Points per ₹200 spent online (capped at 12,000 RPs per statement cycle).
• Avail a 25% discount on movie tickets through BookMyShow (maximum ₹250 per month).
• Enjoy 3 complimentary international lounge accesses per year.
• Receive 2 complimentary domestic lounge accesses per quarter (subject to spending criteria from April 1, 2024).
• Benefit from 1 complimentary golf lesson each month and 4 green fee waivers annually.
• Joining and annual fees can be waived upon meeting specified spending targets.
• Features a low foreign currency markup fee of 2.75% on all foreign currency transactions.
• Earn 4 Reward Points per ₹200 spent on utilities, government services, insurance, education, and rental payments (utility RPs capped at 300 per statement cycle).
• A 1% charge applies to utility transactions over ₹15,000 per month and on all rental and wallet transactions.
• No Reward Points are earned on fuel, rental, wallet, EMI spends, and cash withdrawals.

Other Details

• The YES Elite+ Credit Card can also be opted for as a secured credit card against a fixed deposit.
• To apply for the card online, applicants can click on 'Apply Now' on the bank's website, fill out the application form, and submit it. Offline applications can be made by visiting a bank branch.
• Applicants should check eligibility criteria and keep necessary documents (such as PAN Card and employment details) handy before applying.