Yes Bank has in the past launched a number of unique credit cards such as the Yes Bank Wellness Plus Credit Card. The Yes Bank Private Credit Card is another unique premium credit card from Yes Bank stable. This comprehensive review will guide you through the card’s features, showcasing its advantages and disadvantages, fees, and eligibility criteria.
Overview of Yes Bank Private Credit Card
The Yes Bank Private Credit Card is crafted for individuals desiring a premium lifestyle experience. It provides a host of features that cater specifically to interests like travel, dining, and shopping. Its design appeals mostly to credit card users who relish frequent luxurious experiences, helping them maximize their spending.
Benefits of Yes Bank Private Credit Card
Attractive Rewards Program
Creditcardholders will get 20 reward points on domestic and 40 reward points on international spending for every INR 200. (1 Reward Point = up to 0.25 Paisa). Domestic Cashback Rate: 2.5% and International Cashback Rate: 5%.
Exclusive Lifestyle Benefits
Yes Bank offers exclusive lifestyle privileges that set this card apart from conventional credit cards. Cardholders can access personal concierge services that assist with travel arrangements, restaurant reservations, and more, catering to all kinds of lifestyle needs.
Travel Perks
Frequent travelers can greatly benefit from the travel-related perks of the Yes Bank Private Credit Card.
Cardholders enjoy unlimited domestic airport lounge visits. Cardholders will also get 4 complimentary access for guests.
Cardholders enjoy unlimited international airport lounge visits. Cardholders will also get 4 complimentary access for guests.
Lifestyle Benefit
This credit card comes with a number of lifestyle benefits:
Movies: Cardholders get upto 4 free movie tickets when using BookMyShow to book tickets, it is a buy one get one offer. Maximum cashback per ticket cannot exceed INR 250.
Tickets: Get 50% off tickets of live events such as stand up comedy booked using BookMyShow.
12 rounds of complimentary green fees for a year not exceeding 3 rounds of complimentary green fees in a calendar quarter
4 complimentary green fee access for guests not exceeding 1 complimentary guest green fee in a calendar quarter
12 complimentary golf lessons every year not exceeding 3 lessons in a calendar quarter.
Oberoi E-Gift Vouchers worth INR 9,000 as joining and annual benefit.
Access to international golf courses.
Cons of Yes Bank Private Credit Card
High Annual Fees
A key downside of the Yes Bank Private Credit Card is its higher annual fee, often around INR 10,000 plus GST and high joining fee of INR 20,000. While frequent users may recoup this fee through benefits, occasional users might find it unaffordable. Before signing up, assess how often you plan to use the card and if the costs will justify its value.
Fees and Charges
Joining and Annual Fees: Rs.20,000 + taxes.
Renewal Membership Fee: Rs.10,000 + taxes, reversed on spends of Rs. 20,00,000 within 12 months before the renewal.
Interest Rate: 1.2% per month (14.4% annually) for Yes Bank savings/salary account holders, 1.75% per month (or 21% annually) for others.
Cash Advance Charges: NIL
Foreign Currency Mark-up Fees: 0.50%
Eligibility Criteria
Age and Relationship Requirements
Age: Between 21 and 60 years oldTo be eligible for Yes Private Credit Cards, you need to fulfill the following conditions: Total Relationship Value of Rs. 5 crores.Minimum liability relationship value of 3 crores (CASA AMB Plus FD).
Final Thoughts
The Yes Bank Private Credit Card offers a wide variety of travel and lifestyle benefits. However, its eligibility criterion as detailed above puts it out of reach of most Indians.
Prospective cardholders must weigh the significant annual fees and potential limitations on rewards. Careful assessment of your spending habits and financial goals will help you decide if this premium credit card is the right fit for you. Properly leveraging the card's offerings can unlock a wealth of benefits and exclusive experiences.
You can read a more detailed review of the credit card and our unbiased AI powered ranking of the card here.
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