Yes Bank First Exclusive Credit Card Features & Review

Yes Bank First Exclusive Credit Card Features & Review 1

If you have landed on this page, it is safe to assume that you are considering to signup for Yes Bank First Exclusive Credit Card. Before you go ahead with your decision, do read our review of the credit card, detailing its features and uses.

This card unlocks several exclusive privileges and rewards for its customers,  travel enthusiasts in particular.  

Before we get started with the perks of the card, let us first set aside the foremost question, “Can I apply for it?”

Yes Bank First Exclusive Credit Card Features & Review 2

Eligibility

If you want to apply for the Yes Bank First Exclusive Credit Card, you would need to fulfill certain criteria;

  1. You should be between 21 to 60 years of age.
  2. For salaried people, the minimum monthly salary should be INR 400,000/-, or an ITR filing of INR 50 lacs.
  3. For self-employed people, the ITR should be of INR 36 lacs. 

Fees & Charges 

  1. You would need to pay INR 10,000+taxes for your first-year membership.
  2. On every subsequent renewal, members need to pay INR 10,000 + taxes.

The bank has also issued this credit card as lifetime free even if you don’t have any relationship with the bank. So talk to the bank representative before applying.

Low Charges: At a foreign currency markup of only 1.75%, the card really makes a favorable exception. Furthermore, the interest rates on Cash advances and Revolving credit is at a minimal 1.9%. 

What are the main features of this card?

Welcome Benefits 

  1. You receive 50,000 reward points on your first transaction within 90 days of your card setup date. Please note that this benefit is applicable only on retail purchases and on Yes Bank First Exclusive Credit Cards with annual membership fees. 
  2. With this card, you get complimentary membership of the Taj Inner Circle Epicure Club. This privilege is available to only the primary cardholders. 

Please note the above two benefits can only be claimed if the annual membership fee is paid.

Earning Reward Points 

Owners can earn their reward points in a variety of ways. 

  1. You earn 25,000 Annual Bonus Rewards points on spends of INR 20 lacs and above in each anniversary year. 
  2. For each renewal, you also get 40,000 Reward Points. 
  3. You receive 12 Reward Points for every INR 100 that you spend on tour operators and travel agencies, domestic airlines, and select dining resorts. 
  4. For every INR 100 that you spend on other categories, you receive 6 Reward Points. 
  5. On each YES PayNow Registration, new members receive 1000 Reward Points. 

It may take you a while to earn enough rewards, however, they don’t expire, so it’s all good.

Now that we have established how to earn these points let us see their utility.

Exclusive Reward Points Redemption 

There is a dedicated website for redeeming your reward points. Exchange your reward points for booking your airline, hotel, or movie tickets. Please note that 1 Reward Point= INR 0.25. 

You can redeem these points against an exclusive range of products in the following categories;

  • For various Gift Cards and Vouchers
  • For Flight and hotel bookings
  • For booking movie tickets
  • You can also convert your reward points to Intermiles(1 InterMile= 4Reward Points), but we prefer using the reward points for other categories, as you would get very less value when converting to Intermiles.

Yes Bank First Exclusive Credit card owners can also donate reward points toward charities and other social activities. You may also donate your points and contribute to the PM CARES Fund. 

For more information on reward redemption, please click here

Other Benefits 

As a proud owner of the Yes Bank First Exclusive Credit Card, you are also entitled to certain other benefits. These are:

  1. Unlimited access to domestic and International lounges:
    Using Yes Bank First Exclusive Credit Card, you can access various lounges across 25+ domestic airports, which have partnered with Mastercard unlimited times.
    You would even get a priority pass for international lounge access, and did we mentioned that priority pass is issued for addon card holders as well?
  2. Insurance advantage:
    In case of a flight accident, there is an insurance cover of INR 3 Crores, and a credit shield cover would protect your family against any credit card dues in such an event.
  3. Mastercard World Golf Programm
    Enroll in a free golf lesson once per month in any of the select golf courses in India. As a Yes Bank First Exclusive Cardholder, 3 Green Fees are also waived off at select golf courses in the country.

Bottomline 

To sum up, this card indeed has several exciting benefits, but after the reduction of the number of points which you can earn a few months ago, it falls short of a couple of expectations.

First, you can redeem this card against a very limited range of products. Secondly, if you aren’t able to get the card for free, the membership fee is quite high, considering with the same amount you can apply for cards like Standard Chartered Ultimate or HDFC Bank Infinia or HDFC Diners Black on which you would be getting 3.3% rewards.

Yes Bank crisis is seemed to be over and also credit cards being a debt instrument, you can go for this card if it’s issued as lifetime free. You would be getting unlimited international lounge access for both primary and addon card holders which is available with very fewer cards in India.

Also, we suggest our readers to redeem reward points as soon as you earn it. The banks may devalue them at any time.

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About the Author: Ankur Mittal

is a founder of Card Insider. He has been using credit cards since 2008 and have redeemed more than 2 Million miles/points on his travel and shopping.

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