YES Private Credit Card – A Card for the Super Rich (MasterCard World Elite)

By | November 7, 2017

Ever since Yesbank has stepped into the Credit Card sector, it has been stocking up it’s arsenal of credit card portfolio steadily. Yes Bank has a card for all segments of people. Be it the Yes Prosperity Rewards/Cashback Credit Card for the beginners to Yes First Preferred/Exclusive Credit Card for the relatively High Net Worth Individuals. And we have seen in past that Yesbank is running some aggressive offers from time to time and it’s really worth having it in your wallet in days to come. However, it seems Yesbank has taken Credit Cards to a whole new level by introducing never before seen MasterCard World Elite Platform in India through their Yes Private Credit Card.

Eligibility & Fees:

This card is exclusively for Yes Bank Private banking customers who have relationship value of ₹5 crore or more with Yes Bank.

  • Joining Fees: ₹50,000 + 18% GST
  • Renewal Fees: ₹10,000 + 18% GST. (The renewal fees is waived off if the total spends in previous year is more than ₹25 Lakhs.)

*Note: This is an invitation-only credit card that’ll only be available for a select Ultra HNI 2500 customers. This makes it one of the most Elite/Selective cards in India after American Express Centurion(The Black Card) and HDFC Infinia Credit Card both of which are also by-invitation-only products.

Reward Points on YES Private Credit Card

  • Welcome Rewards: 50,000 RPs on your first transaction. This effectively suffices for the high joining fees as the value of each RP is ₹1. This makes it ₹50,000. However, you still end up paying ₹9000 as GST on that joining fees.
  • Milestone Bonus Rewards: 10,000 RPs on total retail spends of ₹10 Lakhs in 1st 90 days from Credit Card opening date.
  • International: 3 RPs on each ₹100 spent (3%)
  • Domestic: 2 RPs on each ₹100 spent (2%)

Note: No RPs on fuel transactions.

Features of YesBank’s YES Private Credit Card:

  • Benefits:
    • Complimentary Lounge-Key membership for Primary and each Add-on Card member. 10 complimentary guest visit accesses per calendar year. This means that you can also bring one guest along with you. These 10 visits for guests who don’t hold either the primary or the add on card is over and above the unlimited lounge access that they enjoy.
    • VIP Meet and Greet Services: You receive a personal, dedicated Meet & Greet agent to escort you through the airport experience – from curbside to aircraft gate. You get 15% discount on this service
    • Airport by Invitation Services:
      • For departures, Yes Private credit cardholders can enjoy:
        • Private departure lounge with refreshments and wait staff; a personal shopper can be arranged.
        • Airline check in and all security procedures carried out in the privacy of your own lounge.
        • Luggage checked in and taken from the lounge.
        • Private, chauffeured car to take you from the VIP suite to the aircraft.
        • Option to board the flight first or last.
      • On arrival, Yes Private Credit Cardholders can get:
        • Private, chauffeured car waiting on the tarmac to take you from the aircraft to the VIP suite.
        • Private arrival lounge with refreshments.
        • Customs and immigration clearance carried out in the privacy of your own lounge.
        • Luggage delivered directly to you in your private lounge.
    • Bookmyshow: Buy one get one free up to max of 4 complimentary tickets (No Cap on Max Value) & ₹1000 max discount on Events, Experiences, Plays and Sports in one calendar month which can be used multiple times.
    • Golf Benefits:
      • 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
    • Insurance:
      • Air Accident Cover – Cover of Rs. 3 Crores in case of death due to flight accidents.
      • Emergency Hospitalization – Protection of up to ₹50 Lakhs on medical emergencies, while travelling overseas.
      • Credit Shield – The outstanding amount on your card is covered up to ₹10 Lakhs in case of accidental death of Primary Card member. These insurance benefits are similar to Yes First Exclusive Card.
    • Global Emergency Services: One of the very unique propositions of this card is the emergency services.
      • Emergency Card Replacement: On request, an emergency replacement card will be delivered to your address, in India or overseas.
      • Emergency Cash Advance: On request, emergency cash advance can be provided to you through our Global Network Partners. This service is available for overseas locations only.
      • Note: This service is very unique as this service of emergency card replacement is not provided to any other Yes Bank Card for overseas or India location including the Yes First Exclusive Card. In those cases the card can be blocked on request but the new card will only be delivered to the official registered communication address only. This service is therefore of great importance for people who travel for work related purpose overseas and stay there for few months to few years. Similarly this service is provided only in HDFC Infinia Card. However, other banks like Amex and Citi Prestige also provide this service. When it comes up to Amex, its the best for these things. They can arguably deliver the replacement card to anywhere in the world.
  • Other than these there are many more discounts on luxury travels and dining.

How does it stack up against Yes First Exclusive Credit Card?

In terms of reward rates, Yes First Exclusive Provides 2.5% cash back. Apart from the high joining fees for the Yes Private Card, which is partially compensated by the welcome RPs, the renewal fees is similar to Yes First Exclusive. The main difference is the range of luxury services that are provided on this card which sets it apart from any card in the country.

This card oozes royalty for the super rich individuals placing it above the likes of Yes First Exclusive, HDFC Infinia, Citi Prestige or Amex Platinum Charge Card. For such individuals who can afford this card, savings relatively matter less, what matters more is the experience and this card provides plenty of it.

  • CardExpert Rating : 3.5/5 

What do you guys think of this elite card? Is it worth the hype? Have you been invited? If Yes, do you want to hold this card? We would love to hear your take on this card. Please let us know in the comments section below.

Author: Abhishek Roy

Abhishek is a Doctor by profession and is passionate about Technology and Photography. He pursues his hobbies during the little free time he gets and likes to make the most out of it. He has special interest in Credit/Debit Cards, Reward Points, Air Miles and Travel Hacks.

52 thoughts on “YES Private Credit Card – A Card for the Super Rich (MasterCard World Elite)

  1. Aman

    Hi Abhishek,

    Please make the BMS movie/events offer correction :-
    4 BOGO offer is there without limit on amount
    Events is separate with 50% off with cap at Rs. 1000/ month.

    As confirmed on BMS website:

    TERMS & CONDITIONS
    This Offer shall be valid for the period from 19th September 2017 to 31st March 2019
    For eligibility terms and conditions for this offer, please see the FAQs section
    This offer is valid on all valid Yes Private Credit Cards
    Buy One and Get One free offer is only valid on movie tickets purchased using YES Private Credit Cards, Yes Private Credit card holders (“Card members”) can avail up to 4 free tickets in a calendar month. There is no cap on movie ticket value
    50% off up to INR 1000 is valid on Events tickets including Experiences, Events, Plays and Sports. Card members can avail the said offer under multiple transactions , provided however that the total discount available during the month would be limited to INR 1000.
    Card members can avail both, Movie and Events offers in a month

    This can be seen on Yes bank website also:

    As a Yes Private Credit Cardmember, you enjoy the following exclusive privileges:
    Movies –
    For every ticket you purchase on the BookMyShow website or App, you get an additional ticket absolutely free of cost.
    Events –
    Enjoy savings of 50% on tickets booked for events through the BookMyShow website or App.
    Terms & Conditions
    Movies – A maximum of 4 complimentary tickets will be made available in one calendar month.
    Events – The maximum discount will be capped at Rs. 1000 for a calendar month.

    Reply
  2. Ankur Mittal

    Most of the services like Airport by Invitation Services & VIP Meet and Greet Services are paid, and you can avail it directly as well. The other services are at par or less when compared with infinia.
    1) The reward points in domestic is less.
    2) The fees is too high as for infinia it’s just Rs 10,000 and I doubt they would be giving Yes private card for lifetime free. Whereas you can get infinia Life time free by just registering your mobile with smartpay.

    Reply
    1. Abhishek Roy Post author

      Ok. I didn’t know they provide Infinia LTF. I thought all they provided was first year free. The services are available but they are provided at relatively discounted price for these elite cards. Most of the other benefits (More than 15-20), are I guess on the MasterCard Elite Platform.

      Yes, it gives lesser points on Domestic spends, BUT the redemption option are far more than Infinia or any other HDFC Cards. The higher joining fees is compensated partially by the welcome RPs, from next year fees is ₹10K which is still high but the benefits like unlimited lounge entry with guest option itself compensates for that if you are a frequent flier. I am not trying to justify the high fees, I am just trying to give another perspective. Besides, you already hold Infinia, I am sure you would understand what I am trying to say. For people who may hold this card, ₹10K isn’t a big ask.

      Reply
      1. Amex Guy

        Lounge access is capped and not unlimited. Most lounges in airports where you’re actually likely to have guest that’s not a family (add-on) member (the high business airports) do not honour free guest entry on PP/Dragonpass/LK even if your pass supports it. The fine print says it depends on lounge to honour any kind of complimentary entry to PP holders. At least for now, most lounges do honour entry on PP and the likes, but most busy airport lounges flat out refuse free guest entry with you even if your pass allows. Most lounges frown a lot on PP entries these days especially in busy airports.

        PP came up with PP Select to tip off lounges that you’re an HNI, and it still hasn’t helped. PP has started partnering with airport restaurants for the same reason. You’re much less likely to score a free guest with you with Dragonopass and LK. The party of having one such pass and taking people in lounges with you is already over.

        Any frequent flyer will see this as a bait feature and won’t fall for it. You would have hoped YBL knew better. 🙂

        Reply
        1. Abhishek Roy Post author

          Well that’s really sad to know. I hope we don’t have to see such frowning faces often.

          Reply
          1. Abhishek Roy Post author

            You write as Amex Fan and ask Amex Guy that what is PP and HNI? Arihant, we need another elaborate comment I guess. 🙂 Jokes apart, PP is Priority Pass and HNI- High Net Worth Individual.

      2. Ankur Mittal

        Agreed infinia definitely has less redemption option as compared to yes bank cards, but 1.3% less reward points doesn’t compensate for it. We can always book flights, hotels via infinia. I usually book multi city flights via HDFC concierge and hotels via hdfcbankinfinia.myrewardz.com. The hotel pricing on this website is mostly less when compared with booking.com or any other 3rd party website. Yes bank should have atleast provided 2.5% reward points for domestic as provided on yes first exclusive.

        For international payments no doubt yes bank cards are better. I have seen better conversion rate with mastercard and then the markup charges are less.

        Reply
        1. Abhishek Roy Post author

          I totally agree that the RPs are very less for such an exclusive and expensive card.

          Reply
    2. HTC Fan

      Can you elaborate on the last bit on Infinia being LTF by registering mobile on smartpay? It would be good to know.

      Reply
  3. Srikrishna Raajan

    Atlast, as already told, a card on Mastercard World Elite platform launched in India. It is distinguishable!

    Reply
    1. Abhishek Roy Post author

      If you ask about any points, then I guess I have to say no. The features that this card provides itself compensates for the ₹10K renewal fees. I guess this is not for everyone.

      Reply
  4. Amex Guy

    You’re forgetting Citi Ultima Infinite, the actual competitor (the only?) to Centurion with 2.1 lacs annual fee. From what I know, that’s the only card that can match neck and neck with Centurion in terms of benefits and number of cards issued.

    This is more a competitor to Infinia. And I’m shocked it only comes with stock World Elite features. YBL did not bother adding anything additional at all. Infinia wins. And the only reason Infinia seems any good is the illusion of exclusivity. Otherwise, it can seldom beat the easy to get SC Ultimate. yes Private is similar — a useless card with illusion of exclusivity for people who haven’t quiet made it but want to feel they have.

    But Infinia/Yes Private are in no way competing with Centurion and Ultima Infinite. For starters, both those cards come with platinum memberships of almost every airline and hotel you’ll ever use, unlimited meet-and-greet at just about every airport, dedicated RM with no more than 4:1 ratio of clients, among others. Both cost upwards of 2 lacs. The concierge itself is so powerful they can actually get you anything under the sun if you’re willing to pay for it. I’m dead serious. Centurion concierge can send an employee to get Ganga water if you ask them. Last I checked, Infinia shares concierge with Diners Black, a concierge so useless they can’t even arrange a courier pick up.

    Reply
    1. Abhishek Roy Post author

      Yes, it seems I didn’t consider Citi Ultima. The concierge feature as one of the owners of Centurion Card says is pathetic in India and do not live up to the hype or the revered status that it enjoys in the west. And I don’t deny the fact that Yes has absolutely not included anything from their own home. They are only highlighting the benefits of the Elite Platform. By the way Concierge of Both Yesbank Exclusive and Diners Black are idiotic. They couldn’t even arrange a cab for airport drop from South Goa when I asked for it. Absolutely pathetic.

      By the way, is Citi Ultima actually given in India? I thought Prestige was now their highest card in India. Couldn’t find any direct reference on their website

      Reply
      1. Amex Guy

        So Citi Ultima got converted to Prestige after their break away with Jet partnership. They launched another card, Ultima Infinite, a true black card to compete with Centurion. Invite-only (in true sense) with 2.1 lacs annual fee. I’m gunning for it in 2018, let’s see. Citi Ultima used to be 50K/year (later 30K/year) while it lasted, was really a Prestige that came with Jet Platinum membership for free with 2.5% return rate.

        Centurion lounge benefits are bleak in Asia because the lack of Amex lounges. They do throw in unlimited PP with 3 guests for every add-on for that reason. There is a Centurion lounge this year at HK, so they are coming. But since even Amex Plats can access them, unless you want to drink, I don’t consider that a big benefit.

        Rule of thumb — If a bank has a retail site for a card, it is not an invite-only black card. They obviously want to attract people to apply. You’d never find Amex putting sites up for Centurion, or Citi for Ultima Infinite. Those are the only true black cards around here. Heck, for a decade the Centurion was merely a rumour. And someone like you (in the know of CC world) haven’t heard of Ultima Infinite. So, that kinda tells you which card is really a black card. 🙂

        The problem is Yes Private and Infinia aren’t cards special enough to be invite-only. They are positioned to attract unsuspecting people with false premise. The addition of “invite-only” is just a tactic for sales guy to fool a customer. A lot of people will think that they have an equivalent of Centurion in India when they don’t even have equivalent of Amex Platinum in Yes Private.

        Reply
        1. Abhishek Roy Post author

          Okay. That sounds pretty cool. I was absolutely not aware about Citi Ultima Infinite being offered in India. The last time I read about it in some blog 6-8 months back was when it was available as a super premium card in Singapore. I knew Ultima was earlier available in India but it was later withdrawn after the jet citi fiasco and the annual fees going down from 50K to 30K. Then I thought Citi only Offered Prestige as I didn’t come across that card mentioned anywhere being offered as Citi Ultima Infinite. Thank You for the info. By the way, how did you come to know about it? And I don’t deny the fact that Yes Private is more of a gimmick considering the fact that the bank itself hasn’t even poured any benefit except for the benefits that are already being provided by World Elite Platform.

          Reply
          1. Amex Guy

            The good thing about India is that regulation requires a press release about any debt product offered through retail channels. Hence, we came to know about both because Citi and Amex had to push out a press release about these cards. If you google “Citi Ultima Infinite India,” you’d find the article.

            I also spoke to my Citigold RM who herself hadn’t heard of this card, which tells me it’s not even handled by their usual Gurgaon based CC department. She did escalate, and I got all the info I need. The only way to qualify for it is the spends, the level of banking relationship won’t help past Prestige. You need a Prestige to be in contention (if someone is holding the older Ultima, that works too) and need to inform Citi that you’re willing to get invited. When you hit the spends, they will invite you. Unlike Amex, there is no initiation fee. Just an annual fee. 🙂

            Citi could have come up with a better name for their black card to avoid confusion with existing Ultima, or should have renamed existing Ultima to Prestige everywhere.

          2. Abhishek Roy Post author

            Thanks for the tip. I did read the articles and now realize it indeed was launched in India in 2014.

  5. Majumdar

    A Roy Dada/Amex Guy,

    Yes Private seems to be a competitor for Infinia or Citi Prestige at best.

    And I wouldnt pay 50K for a credit card (even if I could afford it) by any Indian bank- paying 50K would be justified only on status/brand basis- for that bare minimum I would begin from Amex Platinum Charge Card.

    Regards

    Reply
    1. Abhishek Roy Post author

      Well, I can understand that ₹50K is indeed a steep price but what everyone is missing is that you get ₹50K worth points too effectively paying only ₹9K as taxes. From next year onwards ₹10K plus taxes. However, Amex Platinum Charge Card commands an annual fee and renewal fee of ₹50K. Ofcourse you get a lot of Status matches but still AMEX has a lot of acceptability issues. But then people who like, Amex, they’ll say it’s the iPhone of cards.

      Reply
    2. Amex Guy

      Basically, it’s a 10K/year tax to be on World Elite platform. If you’re travelling to South East Asia this year, you can probably break even with Elite dining offers. Or if you eat a lot at ITC, ITC culinary membership can help you break even. Last I checked, you got 50% off for party of 2, which can give the 10K back easy. But there are very few ITC locations to really exploit it.

      Apart from that, you probably have better versions of anything this card offers.

      Reply
  6. Anurag Tyagi

    Hi Siddharth,
    I have recently come across your blog and am truly impressed at the info that you have compiled in one place.

    My query is about getting complimentary lounge access to kids. Is there a workaround so that one can take kids, of ages above 5 and below 18 yrs, along with themselves when they access the lounge. I have priority passes and VISA signature cards both in my name and in the name of my wife.

    Thanks in Advance

    Reply
    1. Siddharth

      In most cases, kids would be allowed for free. If not, you can swipe your cards for them. Domestic lounges are okay with it, though, it maynot be possible in International lounges, where you might need to spend from our pocket.

      Reply
    2. Rohit

      Hi Anurag,

      Go for a savings bank account which has lounge access as a perk and ask them to issue a insta kit at the time of account opening make sure that this includes a debit card.

      I use Axis Priority and I received a debit card which doesn’t have a name – just an account number.

      This works well across all lounges in India (including the international departures). useful for situations where you have someone accompanying you who doesn’t have lounge access.

      Reply
  7. Rahul

    As we discuss Centurion/Ultima/ Infite Carrds I home one of us comes up with a detailed review of Amex Plat as well. The present one is very concise 🙂

    May be “Amex Guy” can help.

    Reply
  8. Mohit

    Hi Siddharth,
    I want to apply for Yes bank first preferred credit card. My income is above 18 lacs. (self employed) How much balance or NRV they want for opening Yes bank first account?

    Reply
    1. Siddharth

      Just ITR itself should help to get YES Preferred. Or, if you’ve other cards with 3L+ limit, it’ll be much easier.

      Reply
      1. Mohit

        Sir Issue is that only. I have kotak card with 50k limit and Sbi simply click with 50k limit. I dont want 50k limit again. Also I wanat to apply for the LTF version of card. Also sir you have any idea about NRV for yes first account opening? They asked me for 10lacs check but I have red somewhere in this website in comments that they ask for 5 lacs check.

        Reply
        1. Siddharth

          There doesn’t seem to be a predefined amount. It varies from customer to customer based on various factors. Check with your nearest branch on what they’re expecting now.

          Also, the said limit of 50k is too low for your ITR. Consider asking them to enhance the limit by sending them your IT docs. A good spend on the card before that should help.

          Reply
          1. Mohit

            Thanks for the help. I already spend 80-90% but pay back in time always. Also sir if I had last yr ITR at 40 lacs,will I be able to get upgrade from simply click to Elite card.

        2. HP

          AFAIK Yes First relationship requires an average balance of 25 lacs overall in a family group. This is as per yes first schedule of rates which is also hanging on their website.

          Reply
          1. Siddharth

            Having Yes First Saving a/c certainly helps with said NRV. But it isn’t mandatory just to get the YES Preferred card.

        3. Dhaval

          Hi Mohit,

          I have Yes First Account , it requires initial deposit of 10 Lakhs, but there isn’t any minimum requirement to maintain any quarterly balance, so you can withdraw but keep ₹1,00,000/- to get 6% Interest rate. Yes Bank seems strict with Credit Limit they offer atleast initially.

          Hey Siddharth,
          Please suggest me which CC I should apply next to enhance credit score, get good credit limit and start a relationship with a bank which can be beneficial in future for better cards.
          I have been issued Yes Bank Preferred CC(1st Card) recently, they offer underwhelming Credit Limit. I intend to use it though regularly and eventually upgrade it to First Exclusive.
          Abhishek and Amex Guy please guide me if you can on this.

          PS. Really appreciate all the efforts on this Blogs, really help me enhance knowledge in this area.

          Thanks.

          Reply
          1. Siddharth

            If you love points, consider exploring Citi
            For travel promos, Amex
            for 2x,5x,10x points, HDFC

            It also depends on how much you can spend annually, so you can get annual fee waivers.

      2. Abhishek Roy Post author

        You can get Yes First Preferred LTF if you have an income of net ₹1.20 lakh/month. Otherwise, 3 lakh credit limit in any of your existing cards can also get you the card LTF.

        Reply
      1. Aman

        Hi Mouli

        Its simple:
        Simply spend ₹10,000 or more with your YES FIRST Debit Card at any store or for Online Transactions from 10th November to 10th December 2017 and get ₹500 credited to your YES PAY Wallet by 15th January 2018.

        Only valid for select YES BANK Debit Cards.

        Seems they are trying to get spends on their debit cards as well.

        Reply
  9. Sahil

    Wasn’t there a review of this card posted here a few weeks back that said it wasn’t that good. Now suddenly this elaborate positive review?! Please stay unbiased guys, we know banks are chasing you all of good reviews and perhaps luring you too. I infact sent your precious review to someone very senior at yes bank to prove to them how my Infinia is yet much better. But numbers don’t lie, this card def doesn’t deserve a 4/5.

    Reply
    1. Abhishek Roy Post author

      Would you care to elaborate bit more? Where else did you see the review of this card on this website? And who told you banks chase us for good reviews? All regular readers of this blog very well know that what we share here is our own personal views without any bias. Let me make one thing loud and clear We don’t do positive or negative reviews for any commission or monetary benefit as such. Had that been the case we would have given a disclaimer or conflict of interest notification. Kindly DO NOT post irresponsible comments on this public forum. I would have easily deleted this comment and never would have made it public. The whole purpose of making this comment public was to let others know that this is the kind of comments we sometimes get even after putting in sincere effort in getting you the most unbiased posts on cards. Constructive criticism is always welcome but we will not tolerate any kind of baseless allegations.

      Reply
      1. Aman

        Hi Abhishek
        I totally agree with you here. The review is unbiased as always.

        Sahil
        You may note that Infinia / yes first exclusive (both have higher returns, atleast for domestic spends and cost much lesser) have been rated higher than this card by the reviewers. That itself will tell you that this card is not as good as them. It is more of a status symbol than a value card.

        Sid / Abhishek
        Keep up the great work.
        I suggest we have a update list ranking CCs after adjusting all the devaluations/ updations and new launches. Or you could also update the last review on best CCs?

        Reply
  10. Sahil

    Calm down, there is no need to get so offended if you have done no wrong. This was constructive criticism not an allegation. The review I am referring to is the quick review done on FB that said “not so exciting” and now this review seems pretty good definitely doesn’t qualify as “not so exciting”.
    I don’t wish to argue further on this. Let’s burry the hatchet here.

    Reply
    1. Siddharth

      Sahil,
      “not so exciting” was said by me. But this article is by Abhishek and so the difference. We do all agree that its not a great card. But the point is, its his personal review and nothing more.

      That all being said, i’ve dropped the rating to 3.5 Now.

      Reply

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