Get 1% Cashback on International Spends with Yesbank Credit Cards

By | May 15, 2017

International spends are somewhat a dreaded thing. Reason is plain and simple- You are charged 3.5% extra over and above your actual transaction value in the name of Mark Up fees. Now there are a lot of credit cards in the US and other parts of the world who have already cards in their arsenal having no mark up fees at all. Unfortunately, Indian Credit Card industry is yet to see such changes.

Having said that, there is the IndusInd Bank Exclusive Signature Debit Card which is my personal favorite for international spends as, it offers 0% mark up fees. Among the credit cards, Yes Bank First Credit Cards are the best as they charge only 1.75% as mark up. Now for some limited days they have launched an offer wherein you can earn some extra cash of 1% flat.

Yes Bank Cashback on International Spends offer:

  • This offer is valid from 24th April, 2017 to 20th June, 2017.
  • There is no minimum spend requirement for earning 1% cashback.
  • Maximum cashback that can be earned in the offer period is ₹1000.
  • You still continue to earn at normal reward rate. In my case it’s 10 RP/₹100 spent internationally on the Yes First Exclusive Credit Card. This amounts to reward points worth 2.5% of the transaction value.
  • The spends made even on the add-on cards too will be considered for 1% cashback and reward points earning.

Even though the mail that I got says, “Earn 1% cashback on your Yes First Exclusive Credit Card”, when I checked their terms and conditions, no where did they mention Yes First Cards. All they mentioned was Yes Bank Credit Cards. This means that this offer might be for ALL Yesbank Credit Card holders. However, in those cases the mark up fees will be 3.5% as per most of the Yesbank Credit Cards.

How it benefits you:

Say you have a Yes First Exclusive Credit Card. Then you spend roughly 1.75% +ST which comes down to approximately 2% as mark up fees. But at the same time you earn 2.5% as reward points and 1% cash back. That way you can see that you benefit a lot.

So you save: 2.5%+1%-2% = 1.5% ( with Yes First Exclusive Credit Card)

NOTE: One thing you have to understand that even though the IndusInd Exclusive Signature Card allows 0% mark up, it is a DEBIT card. As a result, you cannot dispute a transaction. Whereas, credit cards allow you to dispute a transaction and hence, you are much more safe.

If the merchant website allows PayPal then definitely IndusInd Exclusive Signature Debit card should be used as PayPal offers you protection anyways. But, if you have to divulge card details to the merchant (and you are not confident of the order or the merchant) it is always advisable to use Credit Cards.

Other Similar offers in the past on International Spends:

Do you like to do international spends? If so, what cards or hacks you use? Will this offer benefit you? Please share your views in the comments section below. We all share and learn from each other.

14 thoughts on “Get 1% Cashback on International Spends with Yesbank Credit Cards

  1. Captain Bishuddha Bharatiya

    1. How long it takes to increase the limit of Yes bank credit cards.
    2. Abhishek can you please tell us how much limit you have in your Yes bank cresit card ?

    Reply
    1. Abhishek Roy Post author

      1. 6 months.
      2. Can’t tell you that but I’ll say it’s pretty low. I’m looking forward to get it increased once the card is 6 months old.

      Reply
  2. Anonymous

    For international spends, would it not be better to use something like Diner’s Black? In that case, for instance, you would be charged 2% but you get 3.3% back in reward points, right? Or am I missing something?

    Reply
    1. Abhishek Roy Post author

      Well, technically speaking, yes but there is more to it than just this. 2% mark up fees turns out to be be actually 2.3% if you consider the ST and cess. Then, the exchange rate offered by Diners Club is extremely bad in comparison to VISA/MasterCard. Technically speaking, it charges almost 2-3% more than what Visa Charge. Often more than even that. That way you end up losing a lot of money on exchange rate. So, as far as my experience goes, NEVER use Diners Club Cards for international purchases if given a choice. If you have HDFC Infinia however, then yes, it should be used over even the Yes First Exclusive Card. But then you always have the option of 0% mark up through IndusInd Exclusive Signature Debit Card if the seller is a trusted one or you’re using PayPal.

      Reply
  3. Anonymous

    Abhishek, thanks for the prompt and informative response. Would Regalia end up as a good deal if I don’t have Infinia? I guess after the recent downgrades Regalia ends up as around 1.6% returns in points, right? Or should I get the Yes First card and that would end up being a better deal?

    Thanks!

    Reply
    1. Abhishek Roy Post author

      Obviously, Yes First Cards are a much better deal. If you get Yes First Prefferred then you get 2% CB as points. If you get Yes First Exclusive then 2.5%.

      Reply
  4. Adi. H.

    Hi,

    1. What are the minimum requirements and eligiblity for the mentioned credit card?
    2. Your card is Amex/Visa/Master?

    Thanks

    Reply
    1. Abhishek Roy Post author

      You can have more information about eligibility from their website. Yesbank only gives MasterCards.

      Reply
      1. Adi. H.

        Are you Yes First Account holder? Could you link me to the requirements page if you don’t mind?

        Thanks

        Reply
        1. Abhishek Roy Post author

          What do you mean by Yes First Account holder? Visit their website.

          Reply
  5. Revan

    Hello,
    I’m new to credit card world. I got offer for standard charted landmark rewards credit card as well as interested in icici bank platinum free card.

    Do I have to pay surcharge every time I use it for petrol? And restaurants? Does credit card charge for such things? Please clarify me. Help me.

    Reply
  6. Jay

    Sid, they have not mentioned when they will credit that 1% cashback. Any idea ???

    Reply
    1. Siddharth

      No idea Jay,
      Not into Yescards for now. Abhishek might be able to help.

      Reply
    2. Abhishek Roy Post author

      The bank has said that the cashback shall be credited into the user account by 30th July and that the user shall be intimated about the credit through SMS/Email. I’m yet to get mine. Let’s see.

      Reply

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