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Yes First Preferred Credit Card

Yes Bank believes in offering the best customer service and products to make banking a delightful experience. One such experience is the Yes Bank Credit Card loaded with awesome privileges. Yes First Preferred Credit Card has exclusive offers for travel, dining, shopping and wellness. If you are interested in reward points, Yes First Credit Card is the one for you.

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Yes First Preferred Credit Card

Yes Bank has such an array of Credit Cards under various categories with exciting privileges and rewards. The range of offers with each card will sweep you off your feet. The enticing benefits that Yes First Preferred Credit Card provides can change your lifestyle. Not only this, the reward points you earn can be redeemed for awesome catalogue products or for booking flight/hotel tickets, or you can just pay the credit card bill with the redeemed points. Read on for a detailed Yes First Preferred Credit Card review of the key features and benefits.

Key Highlights

The Key Highlights of the Yes Bank First Preferred Credit Card are:

  • Complimentary Priority Pass Membership with free visits to Airport Lounge 4 times in a calendar quarter
  • 5X reward points for the first three transactions of the biller registered on YesPayNow.
  • 10000 reward points as Welcome Gift on the first transaction within  90 days from the date of card set-up
  • Medical Insurance of Rs. 25.00 lakhs for medical emergencies during travel abroad.
  • 25% discount on movie tickets booked on BookMyShow
  • 1% fuel surcharge waiver for transactions between Rs. 400 to Rs. 5000 at fuel stations across the country.

Features & Benefits of Yes First Preferred Credit Card

Given below are some of the features and benefits of  Yes First Preferred Credit Card

  • Welcome Gift: 

10000 bonus points for the first transaction done within  90 days from the date of card issuance

  • Renewal bonus: 

7500 additional reward points on every renewal

  • Milestone Reward: 

Get 20000 bonus points on spending 7.5 lakhs and above in each anniversary year

  • Reward Points: 
    • Every Rs. 200/- spent on categories other than select categories will fetch eight reward points.
    • Every Rs. 200 spent on select categories will fetch four reward points
    • Select transactions on YESCART will fetch accelerated reward points
    • You register a biller on YesPayNow and get 5X reward points on the first three transactions of the biller. (Permitted for maximum five billers)
  • Golf Program:
    • 4 green fee waivers per calendar year in select golf courses in India
    • 1 complimentary golf lesson a month in select golf courses in India
  • Lounge Program
    • The primary cardholder will get two free access in a calendar quarter to Domestic Airport Lounges.
    • Mastercard Holders will get complimentary Priority Pass Membership on request and four free visits to International Airport Lounges in a calendar year.
    • Visa  Cardholders can avail of 4 complimentary access to International Airport Lounges under the Lounge Key Program.
  • Revolving Credit Interest:

Interest at 3.5% per month is applicable for revolving credit, overdue amount and cash advance.

For credit cards issued against fixed deposits, the interest applicable will be 2.49% on revolving credit, overdue amount and cash advance.

  • Discounted Foreign Currency Mark up Fee:

The foreign currency mark up fee applicable will be 1.75% of the transaction instead of the regular 3.5%

  • Additional Privileges:
    • 20% discount on hotel bookings if done on Agoda Mobile App
    • 15% discount on food and beverage at Belgian Waffles
    • 15% discount on food and mocktails at US Pizza
    • 15% discount on the total bill at WoW Momos
    • 20% discount on dining out or takeaway at PayEazy enabled restaurants on Easy Diner for a minimum bill of Rs.1000 and above.
    • 10% discount on medicines, 15% discount on Apollo PL Products and 5% discount on FMCG Products at  Apollo Pharma
    • 15% discount for all beauty services at VLCC
    • 5000 reward points if the insurance premium is paid through YesPayNow
    • 10X reward points for getting instant vouchers at YESCART with Yes First Preferred Credit Card.

Earn 15000 bonus points and 5X reward points on all international spends.

  • Mastercard Secure Code:

Secure your transactions on Yes First Preferred Credit Card with Mastercard Secure Code.

  • Insurance Cover:
    • A Life Insurance Cover of Rs. 1.00 Crore in case of any eventuality in a flight accident.
    • Medical Insurance of Rs. 25.00 lakhs in case of medical emergencies while travelling overseas.
    • If the primary cardholder dies in an accident, credit shield insurance cover will take care of the credit card liability.
  • Contactless Card

Contactless technology is enabled for the Yes First Credit Card.

  • Flexible payment facility

For transactions above Rs. 1500 you can opt for the 0% EMI option where you can make the payment in instalments up to 36 months.

  • Quick Loan

Select cardholders will be eligible for a quick loan which is like a personal loan up to the credit limit of the card. The credit limit will be blocked to the extent of the loan and restored to the extent of payment received.

  • Rewards Redemption:
    • A dedicated website for the redemption of rewards redemption for the convenience of the customers. Rewards can be redeemed for catalogue products, hotel and flight bookings, payment of the credit card bill, for recharges, etc.
    • NRI Cardholders cannot redeem the points for catalogue products. They can redeem the points only for flight and hotel bookings and for movies.

They should contact the relationship manager of Yes First Preferred Credit Card for rewards redemption.

Alternatively, they can send an Email to support@yesrewardz.com

Fees & Charges of Yes First Preferred Credit Card

Type of charge

Details

Joining FeeNil
Annual FeeRs. 2499 + GST
Renewal FeeRs. 2499 +  GST
Delayed payment fee

<Rs. 100 : Nil

Rs. 100 to Rs. 500: Rs. 100

Rs. 501 to Rs. 5000: Rs. 400

Rs. 5001 to Rs. 20000: Rs. 500

Rs. 20001 and above: Rs. 700

Add-on card feeNil
Cash Advance Fee2.5% of the cash withdrawn or Rs. 300 whichever is higher
Overdrawn limit2.5% of the overdrawn limit or Rs. 500 whichever is higher
Cheque or payment dishonourRs. 350/- per instance
Card replacementRs. 100/- per instance
Redemption chargesRs. 100 per redemption
Cash handling chargesRs. 100/-

Eligibility Criteria to Apply for Yes First Preferred Credit Card

The following are the eligibility criteria stipulated by Yes Bank to qualify for Yes First Preferred Credit Card

  • Salaried and self-employed individuals can apply for credit card.
  • The minimum age for salaried individuals will be between 21 years to 60 years, and for the self-employed, it will be 21 years to 70 years.
  • The minimum income required for salaried individuals is Rs. 2.00 lakhs per month, and the self-employed should have filed IT returns for Rs. 24.00 lakhs
  • You can also procure the credit card against a Fixed Deposit of a minimum of Rs. 3.00 lakhs.
  • A credit score of 750 and above is mandatory.

Documents Required to Avail Yes First Preferred Credit Card

You should enclose the following documents along with the application submitted for Yes First Preferred Credit Card

Address Proof: Aadhar Card, Voter’s ID Card, Passport, Driving Licence, and Utility Bills

Photo ID Proof: PAN Card, Passport, Aadhar Card

Income Proof: Salaried individuals should provide latest three months salary slips, Form 16 and Bank Account statement for the last six months.

The self-employed should provide audited financial statements for the previous two years. IT returns for the last 2 years and Bank Account statements for the previous one year.

Other documents: 2 Passport size photographs

How to Apply for Yes First Preferred Credit Card

To apply for the Yes First Credit Card

  • Access the official website of Yes First Preferred Credit Card. Click on the ‘Apply Now’ button.
  •  A simple application form will be displayed. 
  • Complete the application and submit.
  • The relationship manager of Yes First Preferred Credit Card will contact you for further details.

You can also visit the nearest branch of Yes Bank and submit the application to the concerned authority along with the required documents.

Should You Avail Yes First Preferred Credit Card in 2022?

Before availing of a credit card you should study the pros and cons of procuring the card. You should also look at the various fees and charges vis-a-vis the benefits and privileges and decide if it is worth availing of the Yes First Preferred Credit Card.

  • The card is issued without a joining fee, but you will have to incur annual membership as well as renewal charges of Rs. 2499/-.  Looking at the returns i.e, the 10000 bonus points you get on paying the annual membership fee, it seems a good bargain.
  • Are you having a monthly income of Rs. 2.00 lakhs?. If so, you are eligible for the card.
  • This card is most suitable for frequent travellers and compulsive shoppers. The benefits and privileges that are provided for overseas travel and shopping are the biggest advantages of having this card.
  • You are a regular golfer but do not intend to pay the green fee for every game.
  • You use the credit card for all your purchases so as to keep track of your expenditure.

Consider the above before availing of the Yes First Preferred Credit card.

Cards Similar to Yes First Preferred Credit Card

The following are the credit cards similar to Yes First Preferred Credit Card

IRCTC Platinum SBI Credit Card

Key highlights

  • Annual Fee Rs. 500 and renewal fee Rs. 300/-
  • A single transaction of Rs. 500 or more within 45 days of card issuance will get you a welcome gift of 350 bonus reward points.
  • Get a value back of 10% on booking tickets through irctc. co or the irctc mobile app (available for only android users)
  • 1 reward point for every Rs. 125 spent on the credit card including booking tickets vide irctc. co or irctc mobile app.
  • Free access to railway lounges 4 times a year at railway lounges within the country.
  • 1% fuel surcharge waiver for transactions between Rs. 500 to Rs. 3000/- at fuel pumps across the country.

Citibank Rewards Credit Card

Key highlights

  • 10 reward points for every Rs. 125 spent on apparel and department stores both online as well as offline.
  • 1 reward point for every Rs. 125 spent on all other categories.
  • 300 bonus points on spending Rs. 30000/- in a month with the credit card
  • 1500 bonus points on the first spend within 30 days of card issue and 1000 bonus points on the first spend within 60 days of card issuance.

HDFC Bank Diners Rewards Credit Card

Key Highlights

  • First year renewal fee Rs. 1000/-
  • Waiver of renewal fee on spending Rs. 1.00 lakh in a year.
  • Welcome bonus 1000 points and renewal bonus 1000 points
  • 3 reward points for every Rs. 150 spent on the card
  • Spend through Smartpay and get 5% value back
  • 24 x 7 concierge service
  • Foreign currency mark up fee as low as 3%

Standard Chartered Platinum Rewards Credit Card

  • 5X reward points for every Rs. 150 spent on dining and fuel.
  • One reward point for every Rs. 150 spent for all other purchases
  • 15% discount at 850 partner restaurants
  • 25% discount on INOX movie tickets on select days.
  • Add on cards without any fee.
  • Contactless technology-enabled.

FAQs

✅ What is the interest-free concept of Yes First Preferred Credit Card?

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Yes First Credit Cardholders get an interest free period for the purchase for a billing cycle. The 50 days interest-free facility can be availed of only if the total due mentioned in the credit card statement is paid instead of the minimum amount due.

✅ What are the options available for Yes First Preferred Credit Card payment?

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Yes Bank customers can make the payment through net banking or through auto-debit where the total amount or the minimum amount as specified by the cardholder will be debited to the SB account on the due date.

Others can make the payment through

  • The bill desk using the net banking facility of their bank
  • Through NEFT/RTGS
  • By executing the NACH mandate
  • By cash at any of the Yes Bank branches
  • By dropping a cheque at any of the Yes Bank dropboxes.
  • Through mobile banking apps.
  • Through UPI
  • Through Samsung Pay or Bharat QR,

✅ Can the reward points of Yes First Preferred Credit Card be carried over?

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Some of the reward points can be carried over, and some have an expiry date. You will have to check the status of the reward points before going for redemption.

✅ What are the factors that affect the approval of Yes First Preferred Credit Card?

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The factors that affect the approval of Yes First Preferred Credit Card are:

  • Age: The minimum age for salaried individuals is 21 years to 60 years, and for the self-employed, it is 21 years to 70 years.
  • Income: Minimum income required for salaried individuals is Rs.2.00 lakhs a month, and the self-employed should have filed IT returns for Rs. 24.00 lakhs
  • Credit Score: A minimum of 750 credit score is mandatory.
  • Debt to income ratio: Depends on the existing liabilities you have. The ratio will give an idea of your affordability.

✅ Does paying only the minimum amount due affect my credit score?

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If the minimum amount due is paid within the due date, it will not amount to a default. However, the credit utilisation ratio will increase if you keep paying the minimum amount due, and it will have a negative effect on your credit score.

✅ How many add-on cards will be issued for Yes First Preferred Credit Card?

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Add on cards will be issued to family members without any additional cost. However, only three additional cards will be issued.

✅ What are the Yes Bank Credit Card Customer Care numbers?

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The following are the Yes Bank Credit Card Customer Care numbers:

  • 1800 103 1212
  • 1800 103 6000
  • International number: +91 22 4935 0000