YES Prosperity Cashback Plus Credit Card – Benefits, Fees & Eligibility

Introduction

The YES Prosperity Cashback Plus Credit Card, issued by YES Bank, is positioned as a cashback-centric credit card designed for customers seeking savings on their everyday retail expenditures. With a joining fee of Rs. 1,499, its primary differentiating benefits include a 0.75% cashback on all retail spends, a higher 5% cashback on specific categories like groceries, movie ticket bookings, and utility bill payments, and a welcome cashback offer. The card also provides additional features such as a credit shield cover and zero liability protection.

Welcome Benefits

• Get a cashback of Rs. 250 on a minimum spend of Rs. 2,500 within the first 30 days after receiving your card.
• The welcome benefit is valid for retail spends only and not for cash withdrawals.

Fees

• Joining Fee: Rs. 1,499 + GST
• Annual Fee: Rs. 1,499 + GST
• Spend-Based Waiver: Not applicable.
• Rewards Redemption Fee: Rs. 100 on every redemption request.
• Foreign Currency Markup: 3.5% of the total transaction amount on all foreign currency spends.
• Interest Rates: 3.5% per month.
• Fuel Surcharge: 1% fuel surcharge is waived off for all transactions between Rs. 400 and Rs. 5,000 at all fuel stations in India. The maximum benefit through fuel surcharge waiver is capped at Rs. 125 per month.
• Cash Advance Charges: 2.5% of the withdrawn amount or Rs. 300, whichever is higher.

Rewards

• Get a cashback of 0.75% on all your retail purchases (except on fuel).
• Get a 5% cashback on movie ticket bookings for a minimum transaction of Rs. 100. The maximum benefit with this offer is capped at Rs. 100 per statement cycle.
• Get a 5% cashback on grocery purchases for a minimum transaction of Rs. 500. The maximum benefit with this offer is capped at Rs. 100 per statement cycle.
• Get a 5% cashback on utility bill payments through YES PayNow.
• Avail exciting offers on travel, shopping, dining, wellness, etc., through Yes Privileges.

Rewards Redemption Guide

The cashback earned using your YES Prosperity Cashback Plus Credit Card is automatically credited to your credit card account after making the eligible purchase. Once credited, this cashback can be used against anything you want to purchase or even against the card’s outstanding balance.

Card Eligibility Criteria

• The age of the applicant should be between 21 years and 60 years.
• Applicants should be either salaried or self-employed.
• For salaried individuals, a minimum monthly salary of Rs. 35,000 is required.
• For self-employed individuals, an Income Tax Return (ITR) of Rs. 5 lakhs or more is required.
• The bank might have some internal criteria as well.

Documents Required

• Identity Proof: Aadhar Card, PAN Card, Driving License, Passport (any one of these).
• Address Proof: Latest utility bills, passport, Aadhar Card, Driving License (any one of these).
• Proof of Income: Latest salary slips/bank statements (for salaried individuals), or latest ITR (for self-employed people).

Card Review

The YES Prosperity Cashback Plus Credit Card is a solid option for individuals prioritizing cashback on their daily expenses. It offers a decent 0.75% cashback on general retail spends and a significant 5% cashback on high-spend categories like groceries, movies, and utility bills, albeit with monthly caps. The welcome benefit of Rs. 250 cashback on initial spending and a 1% fuel surcharge waiver add to its appeal. While it carries a joining and annual fee of Rs. 1,499 + GST, the potential savings from cashback can offset these charges for active users. The card also provides essential insurance benefits like a credit shield cover and zero liability protection. However, the rewards redemption fee and foreign currency markup are points to consider. This card is best suited for those who frequently spend on groceries, movies, and utility bills and are looking for a straightforward cashback program.

Important Product Details

• 0.75% cashback on all retail spending (excluding fuel).
• 5% cashback on groceries and movie ticket bookings, capped at Rs. 100 per statement cycle for each category.
• 5% cashback on utility bill payments through YES PayNow.
• Welcome benefit of Rs. 250 cashback on spending Rs. 2,500 within the first 30 days.
• 1% fuel surcharge waiver for transactions between Rs. 400 and Rs. 5,000, with a maximum benefit of Rs. 125 per month.
• Credit shield cover in case of accidental death of the primary cardholder.
• Zero liability protection against a lost or stolen card.
• Access to exclusive offers on travel, shopping, dining, and wellness through Yes Privileges.

Other Details

• This credit card product has been discontinued.
• To apply for the YES Prosperity Cashback Plus Credit Card, applicants can either visit the nearest YES Bank branch with all required documents or apply online via the YES Bank’s official website.