The YES FIRST Preferred Credit Card is a premium offering from YES Bank, designed for individuals seeking exclusive benefits across multiple categories such as travel, dining, and lifestyle. With a focus on providing exceptional value through rewards, travel privileges, and insurance coverage, this card is ideal for high-net-worth individuals and frequent travelers. In this comprehensive review, we delve into its key features and benefits to help you decide if it suits your financial needs and lifestyle.
Overview
| Feature | Details |
|---|---|
| Card Type | Premium Credit Card |
| Reward Rate | 16 reward points for every ₹200 spent on travel and dining |
| Reward Value | 1 Reward point equals ₹0.25 |
| Annual Fee | ₹999 + GST |
| Unique Selling Points | High reward rate, travel benefits, golf privileges |
| Rating (out of 5) | 4.7 |
Welcome Benefits for YES FIRST Preferred Credit Card
| Welcome Benefit | Details |
|---|---|
| Reward Points | 10,000 reward points on the first transaction within 90 days |
Joining Fees for YES FIRST Preferred Credit Card
| Fee Type | Details |
|---|---|
| Joining Fee | ₹999 + GST |
| Renewal Fee | ₹999 + GST |
| Renewal Fee Waivers | Spend ₹2.5 lakhs in the previous year to waive the renewal fee |
Utility Payment Charges for YES FIRST Preferred Credit Card
| Payment Type | Charges |
|---|---|
| Rent Payment | 1% fee using third-party apps like CRED, Paytm |
| Education | 1% fee using third-party apps |
| Utilities | No additional charges |
Membership Benefits of YES FIRST Preferred Credit Card
The YES FIRST Preferred Credit Card offers a variety of premium benefits:
- Travel Privileges: Access to domestic and international airport lounges with Priority Pass membership. Includes 4 complimentary lounge visits per calendar year and 2 complimentary visits per quarter in India.
- Golf Benefits: 1 complimentary golf lesson every calendar month and 4 additional sessions with green fee waiver at select golf courses in India.
- Insurance Coverage: Credit Shield cover of ₹8 lakh and lost card liability cover of ₹8 lakh.
- Concierge Services: 24×7 dedicated concierge assistance for travel, dining, and entertainment.
Rewards from YES FIRST Preferred Credit Card
| Spend Category | Reward Rate |
|---|---|
| Travel and Dining | 16 reward points for every ₹200 spent |
| Other Categories | 8 reward points for every ₹200 spent |
| Reward Points Cap | Up to ₹3,000 per statement cycle |
| Reward Value | 1 Reward point equals ₹0.25 |
| Rewards Expire in | 3 years |
Milestone Benefits of YES FIRST Preferred Credit Card
| Spending Milestone | Reward Earned |
|---|---|
| Annual Spending of ₹7.5 lakhs | 20,000 bonus reward points |
Redemption of YES FIRST Preferred Credit Card Points
Cardholders can redeem their reward points through various channels:
- Travel: Book flights and hotels via the YES Bank rewards portal.
- Gift Vouchers: Redeem points for gift vouchers from leading brands.
- Merchandise: Choose from a range of products in the rewards catalog.
- Cashback: Convert points into cashback credited to your card account.
Gift Vouchers Available
| Category | Brands |
|---|---|
| Shopping | Myntra, Amazon, Pantaloons, Levi’s, Lifestyle, Shoppers Stop, Westside |
| Electronics | Croma |
| OTA | MakeMyTrip, EaseMyTrip |
| Hotels | Marriott Hotels, Taj Hotels, ITC Hotels |
| Cabs | Uber, Ola |
| Airline | Vistara Voucher, IndiGo |
| Luxury Brands | Luxe, Armani, Gucci, Burberry |
| Merchandise | Peter England, Van Heusen, Raymond, Arrow |
Airport Lounge Access with YES FIRST Preferred Credit Card
| Access Type | Details |
|---|---|
| Domestic Lounges | 2 complimentary visits per quarter |
| International Lounges | 4 complimentary visits per calendar year |
| Add-on Cardholder Benefits | Same benefits as primary cardholder |
Airport Transfers with YES FIRST Preferred Credit Card
The YES FIRST Preferred Credit Card offers complimentary airport transfer services, enhancing your travel experience with convenience and luxury. This service is subject to availability and requires prior booking through the YES Bank concierge.
Forex Markup Fee for YES FIRST Preferred Credit Card
| Fee Type | Details |
|---|---|
| Forex Markup Fee | 1.75% of the transaction amount |
Eligibility for YES FIRST Preferred Credit Card
To apply for the YES FIRST Preferred Credit Card, applicants must meet the following criteria:
- Age: 21 to 60 years old
- Occupation: Salaried or Self-employed
- Minimum Income (Salaried): ₹2 lakh per month
- Minimum Income (Self-employed): ITR of at least ₹24 lakh
How to Apply ?
Applying for the YES FIRST Preferred Credit Card is straightforward:
- Online Application:
- Visit the YES Bank website.
- Click on the “Apply Now” button and fill out the required personal and financial information.
- Submit the necessary documents online as per the instructions.
- Offline Application:
- Visit the nearest YES Bank branch.
- Request an application form for the YES FIRST Preferred Credit Card.
- Fill out the form with accurate details and attach the required documents.
- Submit the form at the branch and await approval.
Card Review
The YES FIRST Preferred Credit Card is an excellent choice for individuals seeking a premium credit card with extensive benefits across travel, dining, and lifestyle categories. With high reward rates, travel privileges, and comprehensive insurance coverage, it offers substantial value for those who demand the best in credit card benefits.
Overall Rating: 4.7
- Benefits: 4.8
- Fees: 4.5
- Customer Service: 4.6
Pros and Cons of YES FIRST Preferred Credit Card
Advantages of the Credit Card:
- High reward rate on travel and dining.
- Comprehensive travel insurance and concierge services.
- Complimentary access to domestic and international airport lounges.
- Golf privileges at select courses in India.
Potential Drawbacks:
- High minimum income requirement.
- Annual fee not waived unless significant spending criteria are met.
Similar Cards from Other Banks
| Credit Card | Annual Fee | Lounge Access | Reward Rate | Reward Value | Special Benefits |
|---|---|---|---|---|---|
| SBI Card Prime | ₹2,999 + GST | Complimentary domestic lounge access | 10 reward points for every ₹100 spent on dining, groceries, departmental stores, and movies | 1 reward point equals ₹0.25 | Comprehensive insurance coverage, milestone benefits |
| Standard Chartered Platinum Rewards Credit Card | ₹250 + GST | NA | 5 reward points for every ₹150 spent on dining, fuel | 1 reward point equals ₹0.25 | Rewards on everyday spending |
| HDFC Regalia Credit Card | ₹2,500 + GST | Complimentary domestic and international lounge access | 4 reward points for every ₹150 spent | 1 reward point equals ₹0.25 | Comprehensive travel benefits, milestone benefits |
| HDFC Diners Club Privilege Credit Card | ₹2,500 + GST | Complimentary domestic and international lounge access | 4 reward points for every ₹150 spent, 10X reward points on partner brands | 1 reward point equals ₹0.25 | Extensive dining and travel benefits, milestone benefits |
Comparison
- SBI Card Prime offers comprehensive insurance coverage and high reward rates on dining and groceries, making it ideal for everyday spenders.
- Standard Chartered Platinum Rewards Credit Card provides good rewards on dining and fuel at a very low annual fee, suitable for those looking for basic benefits.
- HDFC Regalia Credit Card is a well-rounded option with comprehensive travel benefits and milestone rewards, ideal for frequent travelers.
- HDFC Diners Club Privilege Credit Card offers extensive dining and travel benefits with high reward rates, perfect for luxury seekers.
Relevant Links
To help our readers navigate our website and find additional relevant content, here are some internal links you might find useful:
For more detailed information about YES Bank credit cards and other financial products, you can visit the official YES Bank website. Here are some relevant resources:
FAQ
Q: What is the annual fee for the YES FIRST Preferred Credit Card?
A: The annual fee for the YES FIRST Preferred Credit Card is ₹999 + GST, which is waived upon spending ₹2.5 lakhs in the previous year.
Q: How can I earn reward points with the YES FIRST Preferred Credit Card?
A: You can earn 16 reward points for every ₹200 spent on travel and dining, and 8 reward points for every ₹200 spent on other categories.
Q: Does the YES FIRST Preferred Credit Card offer lounge access?
A: Yes, the card offers complimentary domestic and international airport lounge access with Priority Pass membership.
Q: What is the forex markup fee for international transactions?
A: The forex markup fee for international transactions is 1.75% of the transaction amount.
Q: Are there any milestone benefits with the YES FIRST Preferred Credit Card?
A: Yes, you can earn 20,000 bonus reward points upon spending ₹7.5 lakhs in an anniversary year.
