Yes Bank Preferred Credit Card Review 2020

Yes Bank Preferred credit card impressed me in a lot of things. I found the Preferred credit card comes with 1.75% foreign currency markup which is lowest in India. Even the interest rate for Yes bank customers is only 14.40% which is also lower than many cards.

Without wasting your precious time, here is all the information related to Yes Bank Preferred credit card.
Fee Charges
First Year – INR 2500
Renewal Fee – INR 2500
Interest Rate – 14.40% for bank customers & 23.88 for non-bank
Foreign Currency Markup – 1.75% (lowest in India)

Welcome Gift

  • Get 15,000 reward points on your first transaction within 90 days of card issuance.
  • Enjoy 10,000 reward points on every renewal.

Yes Bank Preferred Credit Card Costs You Zero Annual Fee 
You will get a welcome gift of 15,000 reward points on your transaction in the first year. The redemption value of 15,000 reward points is equal to INR 3750 ( 1 Reward point = INR 0.25), INR 1250 more than your annual fee.

From the second year, you get a welcome gift of 10,000 reward points. The redemption value of 15,000 reward points is INR 2500 which equivalent to an annual fee.

Bonus offer

  • Get 20,000 reward points on achieving annual spend of INR 7.5 lakh.

Reward Points & Discount

  • 8 reward points for every INR 100 retail purchase (except fuel).
  • 4 Reward Points on INR 100 spent on all other categories
  • 1.75% Foreign Currency Markup charges.
  • Enjoy a 25% discount on movie tickets booked on BookMyShow. Maximum discount capped at INR 250 per calendar month. That’s amazing.

Redemption of Reward Points
1 reward point is equal to INR 0.25. Redeem for Hotel, flights and movie booking on dedicated websites. You can redeem the reward points for InterMiles.

4 reward points = 1 InterMile.

Note:  Catalogue redemption not available to Redeem your Reward Points. You have to call on +91 40 6653 4510 or write an email to support@yesrewardz.com or contact your relationship manager.

Let’s Calculate How Much You Can Save With Yes Bank Preferred Card

Fuel Benefit
Get 1% fuel surcharge waiver at all the fuel stations across India for a transaction between INR 400 to INR 5000. Maximum fuel surcharge capped at INR 500 per statement cycle.
Lesser Known Benefits of Yes Bank Preferred Credit Card

  • 1 crore air accident insurance in case of death in flight accident.
  • INR 25 lakhs on medical emergencies while traveling overseas.
  • INR 5 lakh credit accident shield cover for primary cardholder.
  • Priority Pass Membership for the Primary Cardmember.
  • 4 complimentary access to International lounges and 12 domestic lounges access in a calendar year.
  • Enjoy complimentary Golf lessons at selected golf courses.

Check Your Eligibility

  • The Applicant should be of age between 21 years to 60 years.
  • Both salaried and self-employed can apply.
  • The applicant should have a personal income of INR 18 lakh or more ( for both salaried and self-employed).
  • Yes Bank Preferred Credit Card is also available against fixed deposit in selected cities only. For this, you have to contact your nearest Yes bank branch.

Documents Required

  • Identity Card.
  • Address proof.
  • 1 passport size photograph.
  • Salaried class- latest one-month salary slip.
  • Self Employed – Latest IT Return with the computation of income.

Final words on Yes Bank Preferred Credit Card
I personally like the credit cards that offer a welcome gift having a value equal to the annual fee or having some annual fee waiver clause. Because I don’t like to pay an annual fee. This card belongs to the same category.

Along with annual fee benefit, you will get a direct 2% saving on your all spending more than HDFC Regalia credit card (one the most famous credit card).
On above that, if you spend INR 7.5 Lakhs in a year you will get 20,000 reward points. All these things make me excited for this card.

But…

Applying for this credit card, the applicant should have a minimum annual income of Rs 18, which makes this card for the very limited section of users. If you belong to the same section, this is a must-have card for you.

One Response

  1. Arun May 1, 2019

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