YES First Preferred Credit Card – Benefits, Fees & Eligibility

YES First Preferred Credit Card

Introduction

The YES First Preferred credit card is a premium offering from YES Bank, designed for individuals seeking premier reward point opportunities and a suite of exciting benefits. Cardholders can accumulate a significant number of reward points on various purchases and even by paying the annual fee. Beyond rewards, the card extends complimentary travel benefits, including access to both domestic and international airport lounges. It is particularly well-suited for those who aim to maximize savings through reward points and for frequent travelers, offering up to 2 domestic lounge accesses per quarter and 4 international lounge accesses annually. A key highlight for new cardholders is the provision of 10,000 bonus reward points upon making their first transaction within 90 days of card receipt.

Welcome Benefits

• Receive 10,000 reward points on your first transaction if it is completed within the first 90 days of card issuance.
• Get 1000 Reward Points on every successfully completed YES PayNow registration.
• The joining fee of Rs. 999 can be waived if you spend Rs. 50,000 within the first 90 days.

Fees

• Joining Fee: Rs. 999 + GST
  • The joining fee can be waived if you spend Rs. 50,000 in the first 90 days.
• Renewal Fee: Rs. 999 + GST
  • The renewal fee can be waived off on a spend of more than Rs. 4 lakhs in the preceding year.
• Rewards Redemption Fee: Rs. 100 on every redemption request.
• Foreign Currency Markup: 1.75% on all foreign currency spends.
• Interest Rates:
  • 3.8% per month.
  • 3.6% p.m. (43.2% p.a.) as per fee table.
• Fuel Surcharge: 1% fuel surcharge waiver applicable at fuel stations all over India on transactions between Rs. 400 and Rs. 5000.
• Cash Advance Charges: 2.5% of the transaction amount, with a minimum charge of Rs. 300.

Rewards

• Rewards Rate:
  • Earn 4 reward points per Rs. 200 spent on select categories including utilities, groceries, tax payments, and insurance sales.
  • Earn 8 reward points per Rs. 200 spent on every other retail purchase.
  • Earn an accelerated 16 reward points per Rs. 200 spent on travel and dining, capped at 3,000 reward points per month.
• Movies & Dining:
  • Get a 25% discount on movie bookings through BookMyShow.
  • Earn an accelerated 16 reward points per Rs. 200 spent on dining (Capped at 3,000 per month).
• Travel Benefits:
  • Receive 4 complimentary international lounge accesses every year through the Priority Pass Membership.
  • Get 2 complimentary domestic lounge accesses per calendar quarter (equivalent to 8 per year) through the MasterCard lounge program. This offer is valid for primary cardholders only.
  • If Priority Pass is used for lounge visits within India, a charge of $27 + GST will apply per person per visit.
• Golf Benefits:
  • Enjoy 4 complimentary green fee rounds annually.
  • Receive 1 complimentary golf lesson every month at select golf courses across India.
• Insurance Benefits:
  • A life insurance cover of up to Rs. 1 crore is provided in case of death due to flight accidents.
  • Medical insurance of Rs. 25 lakhs is provided for emergency hospitalization when traveling overseas.
  • A credit shield cover is provided if the primary cardmember dies accidentally.
• Other Benefits:
  • 1% fuel surcharge waiver on transactions between Rs. 400 and Rs. 5000.
  • 1000 Reward Points on every successfully done YES PayNow registration.

Rewards Redemption Guide

• To redeem reward points for movies, flights, and hotel bookings, cardholders can visit the dedicated website.
• 1 Reward Point is equivalent to Re. 0.25 when redeeming against hotel/flight bookings.
• 1 Reward Point is equivalent to Re. 0.10 when redeeming against the product catalogue, gift vouchers, or adjusting against credit card bills.
• 10 Reward Points are equivalent to 1 Intermile / 1 Club Vistara Point.
• A reward redemption fee of Rs. 100 is charged for every redemption request.

Card Eligibility Criteria

• Salaried Employees:
  • Age: 21 Years - 60 Years
  • Income: Minimum Rs. 2,00,000 per month
• Self-Employed Individuals:
  • Age: 21 Years - 60 Years
  • Income: Minimum Rs. 24,00,000 per annum (as per ITR)

Documents Required

• Identity Proof: Driving License, PAN Card, Aadhar Card, Passport, Voter’s ID.
• Address Proof: Utility bills of latest months (not older than 3 months), Aadhar Card, Passport.
• Income Proof: Latest audited ITR or Latest salary slips/bank statements.

Card Review

The YES First Preferred Credit Card is a popular premium card that stands out with its attractive reward rates and a variety of benefits across different lifestyle categories. It's an excellent choice for individuals who prioritize earning maximum reward points and frequent travelers, thanks to its extensive lounge access benefits. Key advantages include a low foreign currency markup fee of 1.75% (compared to the usual 3.5%), comprehensive insurance benefits, golf privileges, and discounts on movie bookings. The card also offers a significant welcome bonus and provides opportunities for fee waivers, making it a valuable tool for saving money and maintaining a healthy credit score. If its diverse benefits align with your spending habits and travel needs, this card is highly recommended.

Important Product Details

• Get 2 complimentary domestic lounge accesses every quarter and 4 complimentary international lounge accesses per year.
• Earn 4 reward points per Rs. 200 spent on specific categories like utilities, groceries, tax payments, and insurance sales.
• Earn 8 reward points per Rs. 200 spent on all other retail purchases.
• Receive 16 reward points per Rs. 200 spent on travel and dining, with a cap of 3,000 reward points per month.
• Benefit from a low foreign currency markup fee of 1.75%.
• The renewal fee can be waived off if you spend over Rs. 4 lakhs in the preceding year.
• Joining fee can be waived on spending Rs. 50,000 in the first 90 days.
• Offers life insurance cover of up to Rs. 1 Crore for flight accidents and overseas medical insurance up to Rs. 25 Lakhs.
• Provides 4 complimentary green fee golf rounds annually and 1 golf lesson per month.

Other Details

• Best Suited For: Shopping, Reward Points.
• How To Apply:
  • Online: Apply by filling in essential details on the dedicated online application portal.
  • Offline: Visit your nearest YES Bank branch with all required documents and fill out the physical application form.