The YES First Preferred Credit Card is a popular credit card offered by YES Bank for privileged consumers who want to get the best rewards and benefits. This credit card was introduced as a part of the YES Banks First Credit Card series and is one of the most advantageous, especially thanks to the reward points on offer and an obligatory package of services aimed at both the frequent traveller and the active shopper.
The YES First Preferred Credit Card has particularly a wide array of travel privileges such as domestic and international lounges as well as ample insurance. Intended to provide extraordinary value out of this particular fraternity, it has established itself to be a preferred option for those individuals who wish to get as more out of their expendable dollar as they can but do not wish to compromise on the quality of the luxe lifestyle they are going to lead in the wake of the card.
Table of Contents
- YES First Preferred Credit Card
- YES First Preferred Credit Card Features and Benefits
- How To Earn and Redeem YES First Preferred Credit Card Reward Points
- YES First Preferred Credit Card Fees and Charges
- YES First Preferred Credit Card Product Details
- YES First Preferred Credit Card Eligibility Criteria
- Documentation Needed for YES First Preferred Credit Card
- How To Activate YES First Preferred Credit Card?
- FAQs
YES First Preferred Credit Card
Joining Fee:
Rs. 999 + GST (waived if you spend Rs. 50,000 in the first 90 days)
Best Suited:
Shopping | Travel | Dining
Renewal Fee:
Rs. 999 + GST (waived if annual spending exceeds Rs. 4 lakhs)
Reward Type:
Reward Points
Welcome Benefits:
NIL
YES First Preferred Credit Card Features and Benefits
Milestone Rewards
- Get the joining fee of Rs. 999 waived if you spend Rs. 50,000 within the first 90 days.
- Earn additional reward points and perks when you reach certain spending milestones, particularly when your annual spending exceeds Rs. 4 lakhs.
Travel Lounge Access
- 4 complimentary international lounge accesses per year through the Priority Pass program.
- 2 complimentary domestic lounge accesses per quarter, providing a total of 8 domestic lounge visits annually.
Golf Benefits
- Enjoy 4 complimentary green fee rounds annually at select golf courses.
- Get 1 complimentary golf lesson per month at participating golf courses across India, helping you perfect your game.
Insurance Benefits
- Life insurance cover of up to Rs. 1 crore in the event of death due to a flight accident.
- Medical insurance coverage of Rs. 25 lakhs for emergency hospitalization when travelling abroad.
- Credit shield cover is provided in case of accidental death of the primary cardholder, offering added financial security for your family.
Forex Markup Fee:
- 1.75% foreign currency markup fee, which is significantly lower than the standard 3-3.5% charged by most other credit cards.
Fuel Surcharge Waiver:
- 1% fuel surcharge waiver at all fuel stations across India, applicable on transactions between Rs. 400 and Rs. 5,000.
How To Earn and Redeem YES First Preferred Credit Card Reward Points
Everyday Spending Categories
- 4 Reward Points per Rs. 200 spent on select categories such as:
- Utilities: Payments for electricity, water, gas, and other utilities.
- Groceries: Daily shopping at supermarkets and grocery stores.
- Tax Payments: Payments towards government taxes.
- Insurance Premiums: Payment of insurance policies.
Retail Purchases
- 8 Reward Points per Rs. 200 spent on all other retail purchases, making this a great card for regular shopping, whether it’s online or in-store.
Travel and Dining
- 16 Reward Points per Rs. 200 spent on travel and dining-related expenses. (Note: This is capped at 3,000 points per month.)
Redeeming YES First Preferred Credit Card Reward Points
Travel Bookings
- 1 Reward Point = Re. 0.25 when redeemed for hotel or flight bookings.
Gift Vouchers and Product Catalog
- 1 Reward Point = Re. 0.10 when redeemed against gift vouchers or items from the product catalogue.
Airline Miles Conversion
- Convert 10 Reward Points into 1 Intermile or 1 Club Vistara Point.
YES First Preferred Credit Card Fees and Charges
| Details | Fees/Charges |
|---|---|
| Annual Renewal Fee | Rs. 999 + GST (waived if your annual spending exceeds Rs. 4 lakhs) |
| Interest Charges | 3.6% per month (43.2% per annum) |
| Foreign Currency Markup Fee | 1.75% on foreign transactions |
| Cash Advance Fee | 2.5% of the transaction amount (minimum Rs. 300) |
| Fuel Surcharge Waiver | 1% waiver on fuel purchases (transactions between Rs. 400 and Rs. 5,000) |
| Late Payment Fee | ➡ Rs. 0 to Rs. 500: No fee ➡ Rs. 501 to Rs. 5,000: Rs. 400 ➡ Rs. 5,001 to Rs. 20,000: Rs. 500 ➡ Above Rs. 20,000: Rs. 750 |
| Card Replacement Fee | Rs. 100 |
| EMI Conversion Fee | Rs. 150 |
| Reward Redemption Fee | Rs. 100 per redemption request |
YES First Preferred Credit Card Product Details
- You can earn 4 Reward Points for every Rs. 200 spent on utilities, groceries, and tax payments.
- 8 Reward Points for Rs. 200 spent on other retail purchases.
- Earn 16 Reward Points per Rs. 200 on travel and dining expenses (capped at 3,000 points per month).
- The card offers 4 complimentary international lounge access per year through Priority Pass
- 2 domestic lounge visits every quarter, enhancing your travel experience.
- Enjoy 4 complimentary green fee rounds annually at select golf courses across India. Plus, you can avail of 1 complimentary golf lesson per month.
- The card provides life insurance coverage of up to Rs. 1 crore in case of air accidents a
- emergency hospitalization insurance of up to Rs. 25 lakhs for international travel.
- For international purchases, the card has a low foreign currency markup fee of 1.75%, making it a cost-effective option for frequent travellers.
YES First Preferred Credit Card Eligibility Criteria
| Age Requirement | Salaried individuals and self-employed professionals applying for the card must be between 21 and 60 years of age. |
| Minimum Income (Salaried Individuals) | Salaried applicants should have a minimum monthly income of Rs. 2,00,000 to be eligible for the card. |
| Minimum Income (Self-Employed Individuals) | Self-employed applicants need to have an annual income of at least Rs. 24,00,000 as per their latest Income Tax Return (ITR). |
Documentation Needed for YES First Preferred Credit Card
- Identity Proof: PAN Card, Aadhaar Card, Passport, Voter ID, or Driving License.
- Address Proof: Utility bills, Aadhaar Card, Passport, etc. (should be recent, not older than 3 months).
- Income Proof: Latest salary slips for salaried individuals or latest audited ITR for self-employed individuals.
- Bank Statements: For proof of financial transactions.
How To Activate YES First Preferred Credit Card?
- Internet Banking: Log in to YES Bank’s internet banking, go to the “Credit Card” section, and activate your card by entering the required details.
- Mobile App: Use the YES Bank app, navigate to “Credit Cards,” and select “Activate.”
- Customer Care: Call YES Bank’s customer care at 1800 103 1212, provide your card details, and activate it.
- SMS: Send “ACTIVATE [last 4 digits of the card]” from your registered mobile number to the bank’s activation number.
- ATM: Visit a YES Bank ATM, insert your card, and follow the prompts to activate it.
FAQs
Q1. Can I link my YES First Preferred Credit Card to Google Pay or Paytm?
Ans: Yes, there is an option that you can link your YES First Preferred Credit Card to a system or medium like Google Pay, Paytm or others for making the payments.
Q2. Are there any costs for redeeming the points offered for the YES First Preferred Credit Card?
Ans: Yes, this card comes with a reward redemption fee, where every time you wish to redeem your earned reward, you will be charged Rs. 100.
Q3. Are there extra charges when visiting international lounges with a Priority Pass?
Ans: All four international lounge accesses can be gained for free and any additional visits will cost using the Priority Pass program rate.
Q4. Is there any reward given by YES First Preferred Credit Card for the utility and tax bill payments?
Ans: Yes, bonus 4 reward points for every Rs.250 spent on utility bills, taxes and groceries.
Q5. Is it possible for me not to pay the joining fee on the YES First Preferred Credit Card?
Ans: The joining fee of Rs. 999 is not applicable if you charge Rs. 50,000 or more within a period of 90 days of card issuance.