We all knew that Yesbank has been VERY Aggressive in the past with 2x/3x/5x offers overflowing back to back in 2017. But now things have changed very much for unknown reasons. Before we talk about it, lets look into the 2018 Diwali promo on Yesbank Credit Cards.
Yesbank Credit Card Festive Offer Details
- Offer Period: 15th Oct to 15th Nov, 2018
- Offer: Get 5X Reward Points at select merchants.
- Partner Merchants: Amazon.in, BigBasket, Jabong, MakeMyTrip, OYO Rooms, Reliance Digital
- Min. Spend: Rs. 20k for YF Cards, Rs.10k for Premia/Prosperity Cards.
- Max. Points: 2k Bonus Points for Yes Private Card, 8k for YF Cards, 4k for YES Premia & YES Prosperity Card Account
- Excluded Cards: YES BANK Cashback, Cashback Plus, Corporate and Purchase Credit Cardmembers
- Fulfilment: On or before 31 December, 2018
The major problem is that most of the merchants are anyway there with HDFC 5x/10x offers making yesbank go nowhere near to it.
This is clearly a huge disappointment indeed as its hardly 10% of Yesbank 2017 Diwali promo. I was noticing the trend of Yesbank’s offers in recent times and i see this was coming anyway. Also, they upgraded huge # of preferred cards to exclusive – this is going to cost them a LOT. Its all abnormal and its obvious that something is going wrong.
I assume this is happening mostly because they would have burnt their hands much with their frequent promos in the past. Those are huge loss for banks to absorb, especially when cardholders are redeeming the points, like most of the tech savvy customers do.
The recent news of Yesbank could have also added Fuel to the fire ending up with less marketing budget for credit card promos. Just some guesses!
That being said, I’m still counting on them & i hope they come back to business in near future.
What’s your take on Yesbank’s 2018 Diwali Promo? Feel free to share your thoughts in comments below.