YES PROSPERITY Business Credit Card – Benefits, Fees & Eligibility

Introduction

The YES PROSPERITY Business Credit Card, issued by YES Bank, is positioned as a less premium alternative to the YES FIRST Business Credit Card, catering to businesses seeking comprehensive benefits at a moderate annual fee. This mid-range business card offers a competitive 2.5% foreign currency markup, reward points on various business transactions, and a suite of travel and lifestyle privileges. Key differentiating benefits include complimentary domestic airport lounge access, a golf program, milestone rewards, and a fuel surcharge waiver, making it a well-rounded option for business professionals.

Welcome Benefits

• Joining Fee Waiver: Spend ₹10,000 within the first 30 days from card activation to get the 1st-year membership waived off.

Fees

• Joining Fee: ₹499 + GST
• Annual Fee: ₹499 + GST
• Spend-Based Waiver:
  • Joining Fee Waiver: Spend ₹10,000 within the first 30 days from card activation.
  • Annual Fee Waiver: Spend ₹1,00,000 in the card anniversary year to get a waiver on the renewal fee for the subsequent year.
• Rewards Redemption Fee: ₹100 + GST
• Foreign Currency Markup: 2.5% of the transaction amount.
• Interest Rates: 3.99% Per Month (47.88% Per Annum)
• Fuel Surcharge Waiver: 1% fuel surcharge waiver valid for transactions between ₹400 to ₹5,000 only. The maximum surcharge waiver in a statement cycle is ₹500.
• Cash Advance Charges: 2.5% of the withdrawn amount (subject to a minimum charge of ₹300).

Rewards

• Reward Rates:
  • 8 Reward Points for every ₹200 spent on Air/Hotel/Dining/Travel/Rented Vehicles. A maximum of 1,500 points can be earned each statement cycle in this category.
  • 2 Reward Points for every ₹200 spent on Select categories.
  • 4 Reward Points for every ₹200 spent on All Other Eligible Spends.
• Milestone Benefits:
  • Get 10,000 Reward Points on achieving annual spends of ₹6 lakh or more in each anniversary year.
• Travel Benefits:
  • Domestic Lounge Access: 1 complimentary lounge access per quarter, unlocked by spending ₹50,000 or more in the previous quarter.
• Golf Program:
  • The VISA Golf Program offers one complimentary golf lesson to the cardholder every month and a green fee waiver. To book a lesson, an account needs to be created with TeePass India Golf Program.
• Insurance Benefits:
  • Air Accident Insurance: ₹1 Crore cover.
  • Medical Emergency Insurance: ₹25 Lakh cover (only on foreign travel).
  • Credit Shield: ₹8 Lakh cover.

Rewards Redemption Guide

• Redeem Reward Points for:
  • Flight/Hotel/Movie ticket booking.
  • Exclusive Catalogue of Products.
• Redemption is facilitated through YesRewardz.

Card Eligibility Criteria

• The age of the applicant should be between 21 years and 70 years.
• The applicant should be Self Employed, Proprietors, and Partners of Partnership firms.
• Minimum Income Tax Return of ₹7.5 lakh.
• The applicant should have a decent credit score, and the business credit score might also be an important factor.

Card Review

The YES PROSPERITY Business Credit Card offers features that are similar to the YES FIRST Business Credit Card but in a more limited capacity, making it an ideal choice for businesses looking to enjoy travel, fuel, golf, and lifestyle benefits at a lower annual fee. The card provides exciting reward points, valuable milestone benefits, and a fuel surcharge waiver. Its travel benefits, including complimentary domestic lounge access and a golf program, are considered excellent for a business card in its price range, adding a premium touch. This card is highly beneficial for businesses that desire these privileges without incurring a high annual charge.

Important Product Details

• Low foreign currency markup fee of 2.5% of the transaction amount, which is significantly lower than the typical 3.5% charged by many other credit cards.
• Earn 10,000 Reward Points on achieving annual spends of ₹6 Lakhs or more.
• Receive 8 Reward Points for every ₹200 spent on all travel-related categories, including Air, Hotel, Dining, Travel, and Rented Vehicles.
• Enjoy 1 complimentary Domestic Lounge access per quarter, contingent on spending ₹50,000 or more in the previous quarter.
• Benefit from 1 complimentary golf lesson every month and a green fee waiver through the VISA Golf Program.
• Comprehensive insurance coverage includes Air Accident Insurance of up to ₹1 Crore, Medical Emergency Insurance of up to ₹25 Lakh (specifically for foreign travel), and a Credit Shield of ₹8 Lakh.
• A 1% Fuel surcharge waiver is applicable for all fuel transactions between ₹400 and ₹5,000 across fuel stations in India, with a maximum benefit capped at ₹500 per month.
• The Joining Fee and Annual Fee are both ₹499 + GST.
• An interest rate of 3.99% per month (47.88% annually) is applicable on the due amount.
• A cash advance fee of 2.5% of the withdrawn amount (subject to a minimum fee of ₹300) is levied on cash withdrawals.
• A Rewards Redemption Fee of ₹100 + GST is charged.

Other Details

• How to Apply

  • Online: Click on "Apply Now", select the desired Credit Card, fill in your details, and submit your application.
  • Offline: Visit your nearest YES Bank branch with all the required documents and complete a physical application form.

• Bill Payment Methods

  • For YES Bank Account Holders:
    • Register on YES BANK NetBanking to make Credit Card payments online.
    • Submit an instruction to automatically debit a portion of your monthly outstanding bill from your Savings or Current Account to your Credit Card Account.
  • For All Customers:
    • Make bill payments through NEFT/IMPS/RTGS fund transfer mode from other bank accounts by adding your YES BANK Credit Card as a beneficiary. Use IFSC code: YESB0CMSNOC.
    • Utilize the Billdesk facility for payments.
    • Pay by cheque: Quote your 16-digit credit card number and drop the cheque at any of Yes Bank’s drop boxes. Remember to mention your name and mobile number on the back of the cheque.
    • Make payment through Cash at YES BANK Branches (refer to the schedule of Charges in the Most Important Terms & Conditions for applicable charges).

• YES Bank Customer Care

  • Contact 24X7 YES TOUCH Customer Care on:
    • 1800 103 6000 (Toll-Free for Mobile & Landlines in India)
    • +91 22 4935 0000 (Calls from Outside India)
  • Email: yesfirstcc@yesbank.in
• Instant EMI Option: You can convert transactions into easy EMI with the YES PROSPERITY Business Credit Card.
• International Lounge Access: International airport lounge access, previously offered with the credit card, has since been discontinued.
• Terms & Conditions: All benefits mentioned are subject to terms and conditions levied by Yes Bank; it is advised to read all terms and conditions carefully.
• RuPay Variant: The YES First/Prosperity Business RuPay Select Credit Card is also available on the RuPay variant, offering similar benefits.