Yesbank seems to have rolled out some personalized offers to SELECT customers wherein they can get accelerated points on spends made during 22nd August 2017 to 31st August 2017. I do hold yesbank preferred credit card but i haven’t received any message on this yet. Maybe their automated system decided that i don’t have the capacity to spend as i’ve swiped it for just Rs.100 so far 😀
Yes Bank Credit Cards – 10 Days Festive Spends Bonanza
As part of the ‘10 Day Festive Spend Bonanza’ the Cardmembers have been assigned 2 levels of Spends targets on their Credit Card. On meeting the assigned targets the Cardmembers can earn accelerated RP’s during the Offer as per the below structure:
- Maximum Cap: 1,00,000 Reward Points
- Spend Duration: 22nd August 2017 to 31st August 2017
- Offer Fulfillment: 31st October 2017
#1 Yes Prosperity Credit Cards – 3X & 5X Reward points
#2 Yes First Credit Cards – 2X & 3X Reward points
So the accelerated reward Rate for Yes First Credit Cards on hitting 3X target goes like this:
- Yes First Preferred: 6%
- Yes First Exclusive: 7.5%
- Savings in Value: Rs.25,000 (Rs.4.2L Spend on YFP & Rs. 3.35L on YFE)
That’s quite high to spend, but this is by far the best in industry and stands next to Generous Diners club 10X reward points Promo. Its a quick month end promo to raise the “spend per card” parameter for the month/quarter.
Yesbank seems to be very aggressive in credit cards business. Future seems to be so good. Its the new HDFC in making, at-least in reward points perspective. Hence, if you’re still thinking to apply for YesBank cards, apply one now.
How does the Offer work?
(The below scenarios are for illustration purposes only, actual targets will be different for each Cardmember)
For example, a YES FIRST Exclusive Cardmember has been assigned a customised Target 1 of INR 20,000 and Target 2 of INR 40,000. The below scenarios may arise :
- Scenario 1
If the Cardmember spends INR 30,000 (greater than Target 1) : As per the standard product RP rate of 10 RP/INR 100 the Cardmember shall earn 3,000 RP, but during the Offer Period the earn rate would be 2X and the Cardmember would get a total of 6,000 RP against their spends
- Scenario 2
If the Cardmember spends INR 50,000(greater than Target 2): As per the standard product RP rate of 10 RP/INR 100 the Cardmember shall earn 5,000 RP, but during the Offer Period the earn rate would be 3 X and the Cardmember would get a total of 15,000 RP against their spends
- Scenario 3
If the Cardmember spends INR 10,000 the Cardmember shall earn 1,000 RP as per the standard product RP rate of 10 RP/INR 100 and would not be eligible for the Bonanza Reward Points
Now the qn is, what happens to others those who havn’t received the SMS/email like me?
I’ll update the article once i get more info- as the phone banker says that their systems may have full info on this by tomorrow morning – 23rd Aug. Make sure to like us on Facebook for instant updates.
Until then, those who have received the offer – Happy 100k Reward points 🙂
- Update: Those cards that are setup on/before July 31st are only eligible for this offer. (1 month vintage required)
- Update: Offer re-started again: Sep 20th – Sep 30th. Minor changes done to terms. Check source here.