Important Update: YesBank is unstable as a bank and hence their credit cards are no longer suggested for primary/secondary usage. Kindly update your credit card strategy accordingly. Here are some of the other best credit cards in India for 2020 to choose from.
This is my hands on review of Yesbank’s Yesfirst preferred credit card. You can also check the initial review of this card written by Manish here. While the basic coverage of benefits is already done in previous article, i’ve covered some rare aspects of it here.
Why YES First Preferred Credit Card?
While i have other bank cards from which i can get better rewards, i choose to take Yes First Preferred credit card for these reasons:
- Reward Rate: 2% as points
- Priority Pass Lounge Access: 4 per a calendar year (serves as a backup)
- Annual Fee: Lifetime Free (For SB A/c Holder’s)
- Helps for future Upgrade
YesBank – YES First Preferred Credit Card
You can redeem your points for Amazon voucher (this may change) with which you can literally get anything. Also this will eventually help me to get hands on with their super premium card – Yes First Exclusive Credit Card sooner or later!
YES First Preferred Credit Card Application Process
Ever since Yesbank launched its credit card products to the public, i wanted to hold one. However as my city is not in their serviceable list, i was denied but then said i can go with FD. But that’s not something i’m interested in.
Then i checked last month and came to know that i can now apply, but with a condition that i need to open Yesbank ac (preferably with high funding) and enable Autodebit option. Looks like this works if they have plans to expand their locations to your city in near future – if not, FD is the only option.
So the Branch Manager with his subordinate visited my place, took all application docs for SB a/c with instant kit and the a/c was live in 3 days. Then took docs for credit card for card on card against my then Hdfc Regalia and so got my card approved and delivered – within 3 weeks.
Things to know:
- 3L or more on existing card required for card on card for preferred variant. For exclusive variant 8L is required.
- Card Vintage: 1 Yr Minimum
- If your card is not approved in 2 weeks, make sure to call them, they’ll do the needful.
- Lifetime Free offer only for A/c holders, others may get only First Year Free. (This may change from time to time)
Over the entire process, i came across multiple executives and i can say that the bank has one of the most helpful humans in the industry. Atleast for now!
Fun Fact: I’m the first one to hold Yesbank credit card in my City. Time to punch my name in the city’s history 😀
This makes me remember my old days with Axisbank – 6 years back in time when i was one of the first 5 Axis Bank credit card holders in my branch. It was the Gold card which is now called as Axis bank Insta Easy Credit card on FD which took more than 2 months to process at that time!
The Card – YES First Preferred Credit Card
One fine day the card arrived my place and i should say that the packaging looks nothing less than a typical Jewellery box. I enjoyed unpacking the contents and it does give the feel of a premium card.
But, the actual card looks dull as it doesn’t have the raised embossing. I like their debit card design better than their premium credit card 🙁
The design is good, but the printing or maybe the embossing makes the card really dull. Here are some unpacking pictures,
YES First Preferred Credit Card -Unboxing
YES First Preferred Credit Card – Main box
YES First Preferred Credit Card – Inside the Box
Yesbank Preferred Credit Card – Usage Experience:
I went ahead and charged Rs.100 online right away to see how it works. Everything is good but their netbanking design is decade old. You get only basic features there but the good part is all of them is functional and is easy to get things done. They have more room to upgrade on this part.
Note: The Priority Pass that comes with the card is valid for 5 Years, whereas HDFC issued PP cards are usually valid for only 3 years.
Bottomline:
Overall, its a good bank to deal with and they listen to what you say – very important when a bank is new to the industry. Looking at the product features, offers, etc, its very clear that they have enough data to serve the industry the right way.
Their upgrade systems are yet to be ready and is expected to be up with proper requirements by this October (2017). Lucky are those who were able to grab the Exclusive variant when they used to issue based on 5L limit on existing card.
Do you have Yes First preferred Credit Card or plan to get one? Fee free to share your thoughts and experiences in comments below!
Congratulations, Siddarth…
Now the Bank would be saying..
Jaa Simran Jaa jee Le zindagi..
(DDLJ dialogue)
Pardon me. I don’t get that meaning. #TamilianProblems 😐
Oh sorry,
It means..go use the resources at your disposal and enjoy..life..
Hah Cool!
I love this card. It is my main card now.
I have redeemed the points a month back for amazon voucher which was not an e-voucher but like a gift card. It still reached me in 2 days time.
Their risk management team is very good. Every time there is a big transaction or something fishy, you’ll get a call right away for verification. I remember using it for 20 rupees online on a global website which charged the card without an OTP and I got a call right away.
I’ve seen that their offers are getting increasingly better. There was 1200 instant discount on makemytrip last week, offers on mi phones a while back etc..
I have applied for a limit increase yesterday and hoping a good increase.
Yes, they’re getting pretty much aggressive it seems.
What’s the process for Limit Enhancement? I called their customer care to check but they asked me to send the Physical Form along with the Income Documents.
I’ve couriered the form with two salary slips. This is the only way. Sadly, apart from Amex, no other bank has a quick limit increase process.
I got my limit increased by 45,000.
In the first months, my credit utilization was under 30% but in the sixth month, I had used 78% of the limit with the hope of getting a good increase.
I asked if I can again reach out in three month’s time for the next increase, to which they told that they don’t have any set processes/timelines in place.
My conclusion: They are not as generous as Amex/SBI in providing high credit limits.
Thanks for the Update. How much was 45k in % to initial limit?
How did you apply for increasing your limit and what documents and procedure you had to follow? Can a counter statement from your other banks credit card showing a high limit convince them to offer your increased limits?
There is a form for credit limit increase which you should download from their website. Send that filled form along with last two salary slips to their chennai address.
I have also sent my Amex statement which had more than double the credit limit on my yes bank card. But that did not help get a good increase.
To me salary seems like a big criteria than anything else.
And congratulations on being the first card holder from your city.
Thanks Man! 🙂
I also just got this card and hoping to know how to upgrade to the exclusive version very soon. Do let us know if you get an option in the meantime.
Sure, keep an eye on the new articles 🙂
A standard reply from Yes Bank for an Upgrade request from Preferred to Exclusive
“We request you to use your existing YES BANK Credit Card and basis your spends and payment history the bank may consider to upgrade your existing YES BANK Credit Card once the upgrade program is available. However, we will be unable to confirm the exact amount of transaction which you need to perform for Credit Card upgrade.
Please note that any upgrade in future will be subject to evaluation and approvals as per credit policy parameters of YES BANK LTD.”
Congrats Sid on being the 1st One for this card in your City !!
Packaging looks amazing …. among one of the Best I have seen !
Query — Is opening Savings Account a Compulsion or just another Forceful method by the bank…. like Locker – FD / Investment forced system
It was mandatory for me. But if you’re in their serviceable location, like in most metro’s – then you don’t need to open an a/c. However i noticed that only A/c holders can get LTF as per the form i filled.
I got the LTF option without needing to open a bank account with them. They even sent me a salon voucher (valued at around 2k) out if the blue, which was a nice touch. I passed it on to my wife, who was happy to redeem it.
How many days did it take for you to get the card. I have recvd two vrfctn calls so far aftr document collction
Sid, which city are you located in? I had inquired with Yes Bank about 9 months back and I was given the FD option only. Maybe it is time, I check back again.
Steel city 😉
I am sorry, I have not been able to establish a relationship between steel city (Jamshedpur) and Tamil Nadu?
Steel City of South India – Salem 🙂
Hey Sid: I’ve applied for a LTF free card w/o a SB account. Customer care agreed that it’ll b free however the applctn form had charges indicated. The document collctn rep asked me strike off d chrgs nd indicate LTF
It is not mandatory but helps in two ways.
1. You can get it LTF
2. You’ll be charged a lower interest rate.
No, its not mandatory I got the Yes Preferred card without saving account. Later after I received the card, they offered to open a Yes First Saving accounts which opened jointly with my wife as it had no min balance requirement, international platinum plus debit card, unlimited ATM withdrawal, free imps and other good features.
Do they provide priority pass also?
Ofcourse!
Ah, Looks like only Manish got the Card with Raised Embossing. I too got the plain embossing one 11 months back. I then mailed them Manish Review pictures and asking them to send me a new one raised embossing but they gave some lame answer and said they offer only plain embossing ones now.
Sad, even though I had more than 8 Lakhs limit on my other cards they offered me Preferred Variant and never said I can apply for their top tier card.
I asked them to upgrade my card to Exclusive last month but they said they can’t offer Life Time Free on the upgraded card so I declined to upgrade.
Maybe their raised embossing systems can’t meet the demand of cards they’re sourcing lately 🙂
haha may be.. I had to complain every month on their HTML 5 statement, Finally they have started sending PDF statements from this month.
Their response to my email on the embossing issue.
We at YES BANK invite feedback from our customers since we consider it invaluable to our growth.
We understand that you require a Credit Card with the name embossed on the card. We are in process of re-engineering our YES BANK Credit Card to make it look more attractive. We keep our customer needs and convenience upper most in our mind in any re-engineering exercise.
We have noted your suggestion and forward the same to the concerned team for appropriate evaluation. However, we request you to use the existing Credit Card which has been provided to you.
even citi and Icici are providing cards without embossing. my Re issued Citi Rewards and the recently issued Icici Ferrari both are plain
I recently received Raised Embossed Debit Card from IndusInd….. but I am not too sure about the Quality.. Only time will tell !
Hi Siddarth, I’m pretty sure you are from Coimbatore. I needed the card desperately but it was not available earlier for normal customer but they were offering it for Yes First Account Holder. I said a big no as eligibility for Yes First account is too high.
Finally they started issuing with Bank Accounts from Last month. Documents collected from my office, applied credit card with 3L Jetprevilage World Credit Card and so far no update. But thanks to you, after reading this article, i can wait peacefully for another 2 weeks.
I’m 150 kms away from coimbatore 🙂
Can you tell me exactly where is your place?
Its Salem Anoop.
@sid…..
Yes First Preferred or IndusInd Amex Iconia ?
Which one is better …?
(lounges etc not a big plus for me)
Hdfc regalia 5L+ already have.
Here’s what I have listed.
Pros : YES FIRST
– LTF free. Absolutely no charges
– 2% benefit. 8 points per 100…. Convertible to Amazon vouchers etc as of now…
Cons : YES FIRST
– no Conversion to Credit adjustment / Cash.
– Amazon vouchers can be removed later…making redemption even more lesser attractive
IndusInd Iconia Amex
Pros:
– 1.5%-2% benefit (Weekday / Weekend)
– applicable on purchases including Fuel
– LTF with one time Charge
– min Amex version (some benefits of asked applicable but not full )
Cons:
– Mini Amex ( not all benefit of Amex applicable , but this is for all Amex cards issued by other banks)
– High Joining Fees ( vouchers may not be that useful like satyapaul or are just too high transactional value like 10k ….eg: difficult to spend 10k in one shopping in Pantaloons for.me)
Anything I missed ??
Others like Lounge access , Golf etc not too beneficial for me..
I am also tempted for SBI prime , but the annual charges for.life is what is keeping me off… ( know.it can be waived on min spends, but don’t know which CC will be primary one after 2-3yrs)
@Sid — Why don’t you try doing a Comparison of 3 Hottest Cards — IndusInd Iconia Amex vs SBI Prime vs Yes First.
*mini-Amex — it’s both Pro & Con…as u have so called ‘Amex’ card but does not get all Amex benefits too..
You know all the benefits so you’ve to decide – Annual Spend is the key 🙂
Comparison – Sure!
how to get this credit card for Lifetime free?
Hi Sid
Welcome to the world of yes bank. It is one of the best I have found in terms of customer service and grievance redressal. You are going to love it.
But ya, indeed a lot of room there for improvement in UX as far as their online systems go. Worst part is – their app doesn’t support Credit Card, and website is the only way you can track usage, spending, limits etc. Their webpage isn’t mobile responsive either.
Among all, Kotak has been by far the best online systems I have come across, be it their website or their app. Hope they come to terms with the market soon.
Kotak cards are still in stone-age 😀
What are the Redemption options for Kotak cards? What is the redemption value per point?
Its too low to even think about!
Everyone underestimates Kotak cards, but out of all my cards, I use my Kotak PVR Gold first and foremost as they have awesome benefit on their PVR cards of Rs 800 benefit every month on a usage of 10,000 and 15,000 respectively for 2 PVR cards that’s like 8% & 5% benefit each month. Much more than any other card have to offer(Which I am aware of).
Yes, its good one. But considering non-metros and limitation to PVR makes its card userbase much less.
Now Yes Bank app includes Credit Card! Cheers!
Congrats.
Limit is same as Regalia ?
a “little” less.
Congratultions Siddharth for your new Card
Thanks 🙂
How much limit did you get?
Credit Limit little lower than Regalia, but good enough.
How you find out if you open account you can apply for card ?
What credit limits they provide on base of current card ?
A Call to branch/phone banking should help.
Hey Siddharth
Which all cards do you hold currently / recommend & which do you aim to get? As an HNI which should I try & get?
Regards
Aman.
If you’re following the blog, you already know what i’ve as i share whenever i get anew one 🙂
Which card you need is based on where/how much you spend!
there are lots offers running with yes bank cc however they are not promoting it
recently got 15% discount at MOD directly on the amount swipe same at Subway without even informing the cashier (infact i was not offer of any such promotional offers going on), they should promote offers available to customer like HDFC does via email or sms
True that. Their Paytm Flights offer is good too.
I received the lifetime free offer being a Yes First customer. Checked cibil since i maxed out on credit limits of most of my current cards and took a business loan too . As expected, the CIBIL score came down to 736… So, now i have to pay out my credit card dues first, which will increase my cibil score and then i have to apply for it… Dont want to get the application rejected by applying now… What do u think Siddharth?
Make Utilization Ratio 30%
Then apply after ~2 months as it takes time for that to reflect on CIBIL.
If you’re a Yes First customer, ask them if they can give the card on basis on liability. A lot of banks do, including Citi, HDFC, IndusInd, etc. I’m pretty sure they will, given how aggressive Yes has become in past few months.
I see tat most people here are all praises for this card.
However, I am yet to see any benefits on this card over SBI prime card.
Let me know if I am missing something
Its more or less in same league. One advantage i see with YES Cards lately is their offers, they aren’t actually marketing them as much as they should.
SBI prime reward rate comes easily to 4-5% for annual spends up to 5Lakhs.
I can’t see that with this card.
Also SBI runs many offers as well.
This card makes sense for LTF card but not as the primary card
I got this card a month ago.
Since I fall in the serviceable area – Bangalore – they gave it LTF.
Additional benefit that I received owing to this card are:
1. Zero balance YES First Savings Account. Had to give them 1 lakh initial deposit but the money is available for our disposal once account becomes active.
2. Free lounge access on the debit card (2 per quarter)
3. One money plant. Apparently, they give this complimentary to their YES First Savings Account holders.
4. I was told that they send coupons/vouchers (Event tickets like IPL) to account holders who use their accounts well.
5. Daily doorstep service – cheque deposit, money deposit or withdrawal, etc.
6. Dedicated Relationship Manager
7. Main advantage: They give 5 more complimentary YES First Savings Accounts to whomever I endorse and they too will get the same benefits i.e. zero balance account, doorstep service & lounge access on their debit card (+ a money plant :-D).
I found the seventh point very useful & hence opening accounts for my parents & in-laws who can now avail doorstep service (helps with they are unable to visit bank) & lounge access!
In the world of reducing interest rates on Savings Accounts, their 5% (lakh) is a winner!
My Savings Account was open & active within 5 working days. I am yet to receive my welcome kit though, which would confirm all these benefits. I have been told that a supplementary account is also active but waiting for their welcome kit too.
Zero balance YES First Savings Account with so many benefits is incredible! Is this some corporate offer?
I too have Zero balance Yes First Account.I applied for it online, thenext day One Manager and one Relationship Manager visited my house and collected d docs. They asked me to give a cheque more than 50000, which can be withdrawn once the account is active. It has been 4 months. So far so good.
Good info! Looks like its only avail in existing serviceable areas. I’ll get in touch with the branch reg. this.
There are offering it to all YES First credit card holders. I’ve got like 20 calls in the last 2 months to open this zero balance account.
Sounds good. That’s so much of value. I’ll give it a try!
can you tell Yes First World Debit Card Rewards Structure
Hi Siddharth,
Nope, it is not a Corporate Offer. It is for any individual who has YES First Credit Card.
Some more points that I missed mentioning
– Debit Card is LTF, no annual fees
– It is a Master World Debit Card, helps with support for more lounges
– There is an error in second-to-last para (of my comment). It is 5% for less than 1 lakh & 6% for more than 1 lakh
– Free account for Mutual Funds
BTW, I received my welcome kit & for my wife. Have all the benefits mentioned by them.
that’s great. whom to contact if i am interested to open one ? I’m also in Bangalore
You can avail this offer by visiting the branch also. It is not compulsory to get this done with tele callers only.
Hi Ram,
Can you share the RM contact if possible? Even I wish to open their zero balance account.
Hi Jay,
Sorry for such a poor TAT.
RM details are –
Mr. Isaac
Mobile: +91 79754 72142
WhatsApp: +91 94207 30371
Hope it helps.
I could not get Yes First World Debit Card Rewards Structure
No where mentioned
@Sid they offering Zero Balance Yes First Savings Account to all Yes Preferred card holders
They rejected my upgrade request to Exclusive but as you said same info they shared that they will bring upgrade mechanism soon, lets hope soon
Did you need to compulsorily sign Auto Debit? Is it like the account will be YF Zero Balance till auto debit is active?
ideally, what are the minimum funds required in SB account to apply for this card?
Hey Siddharth,
Been reading your reviews and your experience, great effort and reviews.
I have been looking to apply for my first CC since last month and also open SB A/c at a bank that can offer me good services. HDFC was an option but realised they devalued their CCs.
Would you suggest Yes First Preferred as suitable first card, since will also open SB A/c with High Balance there and being LTF CC as well or you would suggest another bank for SBA + First CC.
I make considerable amount of payments in LIC too.
Appreciate your writing , been reading them from last couple of days. Cheers.
Regards,
Dhaval.
Depends on where/how much you spend. YF preferred is good alrounder.
Varied Expenditure like Shopping Online, Utility, LIC, Travel(quite less though)..etc. Looking at an All rounder. Since Yes Bank is relatively new, not sure about it’s banking facilities. Would be relatively easy decision its good. I’m OK with High Value requirement in SB A/c if service is good. Anyone with experience please share.
Thanks..
Yes First Credit Cards have offer if they spend over Rs 55k between 22nd to 30 Aug, 2017 on retails spends, they will receive 5x rewards points.
Thanks for the quick info. Looks like its a personalized offer and i didn’t get it yet.
When inquired, i was said that they need upto tomorrow morning 23rd Aug for their systems to reflect the said eligibility!
yup it’s a personalized offer. For me the limit is 2.5 lac. And now they have changed from 5x to 3x
5X is indeed a lot to loose for banks 🙂
True but the reward redemption rate is very lousy
For every point you get 0.25 Rs which is way too low as compared to diners club black for which it is 1 to 1
Also there movie redemption options are very limited . No major multiplexes dont come in the redemption list
So u cant compare diners club with yes bank exclusive cards
Hi Thakur,
We cannot compare YF with Diners Black. But is definitely better than Diners Premium for general spends. At 10x partners, Diners Premium is still better. I have both the cards, and use it appropriately.
This is a customized offer. The targets are different for each.
Target 1 – 3x points.
Target 2 – 5x points.
Max reward points – 1 lakh.
Applicable on all retail spends except fuel, validity period – 22 to 31 Aug (both days included)
Quick update. I got an updated communication over an sms.
5x is now 3x and 3x will be 2x. Rest of the details remain the same.
You’ll get customized targets in the sms. The T&C also mentions that this offer is for select customers only.
Sid, if you can confirm above yes bank offer is valid, I have few international flight tickets to book in this week. Will use this card for that purchase.
Also you can suggest best international flight offers going in any other cards or website. I have citi, amex, sc, regalia,diners and yes preferred cards. I have to book return tickets for 4 folks which is costing around 1.7 lacs
Just call up Phone banking tomorrow for clear info. That’s what i was said. If i get more info, i’ll make it as a new article.
Hi Sid
Thanks for the review. I recently aapplied for First Exclusive card LTF on basis of my salary which is approx 1.5 lac pm. But after seeing some reviews I am doubtful if they will approve Exclusive or Preferred to me. Do you think they will approve Exclusive for me?
Please all note that 5x/3x for prosperity cards & 3x/2x for first cards will be credited by 31st October.
Can anyone explain what all are included in retail spends???
Hi
I have also applied on card-on-card basis. But without opening any account – they offered life time free.
The application process is still on. They guy who called from yesbank mentioned somethings about CIBIL score and high “available” credit limit (as per latest statement being a criteria for giving this card too.
Waiting in anticipation
@ Ramprasad
Bro, do you mind sharing the contact of the RM who helped you. I’m fine with opening Yes first account with an initial deposit of 1 lakh but their website asks for AMB of 25 lakhs. Happy to see that you got nil balance account. I have asked their HSR Layout branch folks to visit me next week to open an account
@ Ramprasad + 1
Contacted Malleshwaram Branch at Bangalore, Those guys have no idea about this zero balance account.
Hi Ram,
Sorry for being late in response. Blame it on busy week followed by long and lazy weekend 😀
RM details are –
Mr. Isaac
Mobile: +91 79754 72142
WhatsApp: +91 94207 30371
Hope it helps.
My application for this card got rejected. They refused to inform me the reason other than saying just cibil score not met. Then went to cibil to view my report. It was 780+ and it was reduced to 631.
Reason:
It says i took a housing loan at a age of 10 and there is a outstanding balance which i failed to pay. Canara Bank reported into my account on 31-07-2017. But isn’t it stupid enough to report someone that i took a housing loan at age of 10? I raised dispute in cibil and it’s been 5 days and no response so far.
Haa haa even I have one credit inquiry request for an agriculture loan of Rs 1000 dated back in year 2012 in my cibil report. I asked them to fix, but never heard back on it.
Hi Siddharth,
Thanks for running a great blog for credit card buffs.
I also got my Yes First Preferred Card from the initial lot may be. Its a good card to accumulate rewards. Also they call you and confirm if there is a big transaction on your card or you put a wrong pin two-three times which is a great thing as far as security is concerned.
However recently i had one experience which i would say was rather bad. I have cards from many banks since last many years and generally pay on time but if there is a delay of 2-3 days generally get reversal of charges on the same phone. However they kept my request under consideration for two months and then refused inspite of the fact that their executive had agreed to waive 50% on the phone itself when i explained that there was a unknowing short payment of only 5000 which was spent on supplementary card out of a bill of 80000
and the charges were levies on full bill amount. And they refused to waive even the 50% which their executive promised in the beginning only.
Recently i was levied annual charge on my TATA card due to low usage and when i called them the executive said he will not be able to reverse annual charges but to my surprise he reversed a late payment charge of even bigger amount which was levied two years back.
Yogesh
Yes bank contacted me one month back, offered this card. I was happy with my cards (SBI Elite, AMEX Gold, CITI INDIAN OIL) so rejected the offer. Then they said it is LTF (as I am HNI). So I applied and they collected all my documents. Now it is rejected without any reason. I am completely okay with this but is there any way to get my documents back.
If we get to know the reason, we can repair but they (banks) never tell us.
Talk to the branch manager or escalate through other channels. It might have got stuck for some reason.
Just escalate the issue. If are HNI and have good credit score you will get it. They also initially rejected my application. When escalated I got the card.
@ Varun
How you escalated , by when medium , any email id? pls can you share , i have rejected my applicaion , inspite of good credit score without reason
All Banks dont give any proper reasons whatsoever for rejection..
As you are HNI, escalate thru your RM & BM. They will not want a HNI to be upset…
Balpreet
@ Jay
The HSR layout rep called me today and the only thing he was aware of was about the 25L NRV requirement and interest %. When i asked more questions , he just slipped away saying he needs to check.. hahaha.. Apparently HSR branch isn’t aware as well.
Thanks Ram for the update.
Unfortunately I too didn’t get the right contact who is aware about this promotion at Malleshwaram and Rajajinagar Branches. Only @Ramprasad has to pass on the rep details.
What is the time it took between applying & receiving the Card??
and the Process in between…?
I have submitted all Docs (Card-on-Card application) in branch and after 3 days got a call confirmation till now..
You should get within 2-3 weeks max of signing the docs. Mine got few more days delayed as it got stuck somewhere. A quick call fixed it.
thnx…
Yes Bank Web UI is pathetic…. even the page where Status is to be checked does not load CAPTCHA image … One has to refresh few times just to get the CAPTCHA image.
Hopefully , this part improves in future..
Agree with Ashu.. Yes Bank is way back ward in UI .. Have given them frank opinion.
In fact what they have changed in August on Bank UI also doesn’t seem to be of any use.
On some other banking needs, I rely on their Branch for the same.
Regards,
Balpreet
Hi Ram,
No worries, Thanks indeed. will talk to your contact and update all
Poor me. Applied 45 days ago. They lost files or misplaced. Customer care has assured to call back three times bit no reply. Every one is replying as per their standard vocabulary but no solution. I don’t think yes bank has credible support system. Yesterday when I called branch for the forth time, they asked me to resubmit as one month passed – or be ready to be rejected. I think even sbi is not using such language. I had excellent service from sbi during current usage of Elite.. Sad.
i had recd this Yes Preferred card with credit limit of Rs.50000/- only although i had got this on card on card basis for which i had given details of my hdfc regalia card with credit limit of Rs.3 lacs.
i fail to understand why such low limit has been granted and how i can increase same.
your guidance in this regards will be much appreciated.
Real Slow Processing speed by Yes Bank…… I think they need serious revamp of their Deptt if they want to be a serious player in Credit Cards…
Applied 15days back ….. Agent visited office on a Office Holiday (Eid) and since then no communication or any response…
Bank Guy to whom application was submitted also seems clueless….
Online status just keeps on showing ” In Progress”
What to do ?? Don’t know where is it stuck ??
I had a word with the RM at my branch for opening of Yes First Savings A/c as I am already holding Yes First Preferred card and also holding a savings account with Yes Bank. The Yes First Savings A/c can be opened by fulfilling the following conditions:
1. Customer should not have prior savings account with the bank.
2. The savings account will be opened with min funding of Rs. 1 lac and will be a Zero Balance A/c.
3. After 6 months the total TRV (total relationship value) value will be accessed by the Bank as per the internal criteria for Yes First Savings A/c and if the TRV value is not met by the customer then the account will convert to a normal savings account.
4. If the customer is already having a savings account with the Bank then he/she needs to open an account with a family member and 2 accounts will opened for them with Zero balance other conditions will apply as above.
Do correct me if I am wrong anywhere.
I would also like to ask how to upgrade to Yes First Exclusive card…there is no up-gradation form available on the website and the customer care told me that it can be done only if it being communicated by the bank via mail/sms.
Yes Bank representative visited to collect the documents for YES First Preferred Credit Card on card to card basis.
He Wanted a pencil impression of my Standard Chartered Credit card whose limit is above 3L .The pencil impression would have my name card No. and the card expiry date. I requested him that I require some time before I allow the pencil impression.
My query is how safe is this pencil impression containing the vital card details.
I am from Kolkata
Its not safe bt banks want it. In my case i took the full print out of the card. Consider replacing the card once you get approved.
Yes, Pencil Imprint is required on Card-on-Card basis application…
This is done rather than just a Xerox so that Bank can be sure that Executive actually visited the customer rather than arranging a Xerox from here – there…
Just make sure that the Executive does not looks at the CVV side !!
Hi All
Latest offer
Apply for an Add-on Credit Card and get
2000 Bonus Reward Points for each card
(Total 3 add on allowed) (Total 6,000 Bonus Reward Points)
Hi All
Another latest offer 11th to 20th Sept (personalised offer)
2x rewards on online spends. Max 10,000 points for yes first and 5000 for prosperity.
Minimum spend (transaction amount) :
Rs. 5000 for yes first
Rs. 3000 for yes prosperity
Points credit by 30th November. Enjoy!!!
Got rejected by the bank for this one.
I checked my credit score 5 days back, it was near to 850. Even hold a Diners Black and Regalia with over 8l limit, I told them about it. But, no luck!
Did anyone else too face a similar situation? Is there a workaround?
1. Escalate.
2. Talk to branch manager/ RM
3. Email customer care asking reasons. Then to the nodal officer.
My application took 3 months and they colleted docs 3 times (updated card statement for card on card). That after me bring a yes first customer for over 4 years.
Post on facebook. You will get imeediate response.
Received my Yes First Preferred Card today. Applied on Card on Card basis (HDFC Regalia) . They took exactly 15 working days to process the application. Got almost 40% of Regalia limit.
Congrats!
40% of limit is quite low. did you have high usage in last statement?
Thank u. Yeah it’s quite low. Just Rs 8000 odd usage. SBI gave a limit of almost 4 lakhs on my prime card.
Received my Yes First Preferred Card today. Applied on Card on Card basis (HDFC Regalia) .
Got just 20% (1L) of Regalia Limit, but maybe will increase on usage.
Packaging is really Awesome.
I wish they had really Paid so much Attention in Design of Card Also…which looks Cheap & Poor Quality v/s some of other Premium cards…. Even Citi Basic Cashback Card looks much better than Yes First.
For PIN generation, Yes Bank CreditCard Registration page is throwing some error for last 1hr…. Customercare says services are down.
YES Bank needs to seriously improve UI, UX & Backend services for a better experience.
Siddharth , at the outset I would congratulate & thank you for the efforts you have been putting in to milk the CCs 😉
Not only for yourself , but serving a social cause to help other CC holders across the nation. 😀 😉
I myself have been a credit card freak for last 3 years and continue to do so… but after reading though your jaw dropping numerous articles delving deep , I feel unsuitable to use the term freak for me.
Well , as of now holding all Private Banks (inlcuding Amex Gold Charge) CCs except for AXIS…..;) ,
Just wanted to know if by any chance you have an idea as to how my Yes Prosperity Edge can be upgraded to Yes First Preferred ?
Facts : Current YES Prosperity Edge has 1.1L limit.
Existing HDFC (3+ years ) has 3L limit
Hold a SB account with YES Bank (Yes Prosperity Prime Savings Account)
>>>> Just a little catch here : The SB account was opened post CC(edge) , as a Zero-Balance Account if I enable Auto Debit.
Many Thanks in advance for all the posts and the ones which we will see down the timeline 🙂
Thanks for the kind words!
Spend more. Increase relationship value with bank.
Then ask for LE+Upgrade. You can also provide your HDFC CC statement with 3L limit just as additional proof.
99% will be positive.
The benefits of this card expire on 31 December 2017 right?
Nice review Siddharth.
I recently acquired a YES FIRST EXCLUSIVE Credit Card with an LTF offer. I was indeed looking for a Mastercard since long (I had only VISAs before) and this looks to be a priced possession. One fine day, I was approached by a Yes Bank associate for CC and based on my HDFC Regalia and its healthy limit, I was offered Yes First Exclusive card LTF! Which, I grabbed with both hands 😉
I was informed that with LTF option, 50000 joining bonus points, 40000 annual bonus points and Taj Membership will not be available. I found it reasonable and accepted. What I found lucrative was unlimited access to Airport lounges (Domestic and International) for Primary and Add-on card members.
I received the card after about month of submitting the application. The card packaging, its box etc. was very premium and impressive. However, the card quality was a bit disappointing. Frankly, the Priority Pass card felt more premium than the credit card it accompanies. Yes bank should realise that a customer would keep the card for a longer time than its packaging and therefore, the card quality should be more premium than its packaging.
A peculiar thing I noticed is that the Yes Bank mobile application does not show the details of the credit card. I do not know whether this issues is faced others.
I have just used the card once and hope for seamless experience in future. Will share any feedback further.
Thanks
—
Rahul Porwal
Thanks for sharing your experience Rahul. Might help those who need Exclusive as LTF 🙂
BTW, what is the limit on your Regalia, if I may ask ?
I am sure his Limit must be Greater than 8L….
For my 5L Regalia limit, I was offered YES First Preferred Only as LTF option ( & not Exclusive Variant)
P.S — What % of Regalia Limit did you got as Yes CC Limit ?? I felt they give very less. I got only 20% of my Regalia Limit
Ashu, the credit limit is 25% of the Regalia limit
Its 8L
They are still using old Mastercard logo on their cards.
Yes Gautam, they have not yet updated to the new Mastercard logo
Can anyone confirm if there is any Charges on Redeeming RPs in Yes First Preferred …..
What if I buy multiple Amazon Gift Cards in one go…. will it be treated as single Redemption or multiple ??
& btw, is the Amazon Gift Card a physical one or e-Voucher ?
Hi,
Any contact of Yes Bank RM in Navi Mumbai.. Who can help in Upgrade of Preferred to Exclusive.
My current RM / BM aren’t cooperating. The BM says, why use a Credit Card 🙂 coz he doesn’t use it himself..
Regards,
Manav
Hi Ashu
Charges sre Rs. 100 +18(gst) per redemption order. Doesn’t matter how many vouchers you redeem in 1 go.
Manav
BM have too many tasks. Ask RM to upgrade on email with CC to [email protected]
They will guide you properly or revert with eligibility/ non – eligibility. Either way you will know.
Thanks.
Got my zero balance savings account created last week. The debit card that came with it was really premium. Unlike the credit card, it had raised embossing and the new master card logo. The design looks much better than the credit card..
I tried hard but gave up. Looks like it went complicated for me as i already have the a/c.
I too got the debit card and now applying for family members so that they can also access the lounge with this debit card. We can open max 6 add on account for the family members.Again the packing is really good by yes bank
Yes Bank has been offering a Zero Balance YES FIRST Savings account against the YesFirst Preferred Credit card that I have.
Only Conditions for Zero Balance Account:
1. Initial Cheque of 1L , which can be taken out after deposit.
2. Auto-Debit for Credit Card on the Account to be enabled.
Any special benefits of YES FIRST Savings account ??
Are you getting Zero Balance YesFirst account only opened against your Credit card ??
Any Major benefits apart from the usual….. Unlimited Tranx , Free Debit card, Higher limits etc. ??
Ashu, I have taken it against the credit card.
Here are the benefits I found useful:
1. The major benefit is that the interest rate on credit card for revolving credit will be only 14.4% if you have a savings account.
2. There are no charges for a whole host of features.
3. Based on the main account, we can open zero balance accounts for our family members also. Given that they have free home pick up service for all accounts, it’ll help save time and the hassle of going to the branch.
4. They have a good reward structure which I felt is unique and very rewarding for a savings account/debit card. You get rewards for every transaction done either by net banking or debit card.
So i sent a limit increase request form few days back after using card for almost 3 months. They have only increased limit to Rs.2.5L from Rs1.8L. Was expecting more.
Is this just a basic form or any specific documents also to be attached ??
1. Prashant can you tell that how much salary was showing on your salary slip ?
2. Instead of salary slip can someone send ITR ?
It is more than Rs.1 L
Download the form and see the docs. I think yes u can send ITR.
Thanks for your reply Prashant.
For annual income of more than Rs. 12 lakhs your credit card limit is very low. You should try HDFC . I had an ITR of Rs. 2.5 lakhs and HDFC gave me 1.5 lakhs credit limit.
Captain. I already have HDFC diners black with limit of Re.5.88 lakhs.
For 2. Ya all banks accept ITR if you dont have salary slip or if you are self employed.
Can I get a complementary Credit Card for my wife? Will there be a Priority pass with complementary credit card also?
No Priority Pass for add on card holder for Yes First Preferred but you can get complimentary lounge access for add on card holder also for Yes First Exclusive card
Thanks Mouli. But my itr was 45 lacs. So 5 lacs below there target. So not sure if they will provide LTF.
You will get, by the way if you have any existing credit card with more than 3L limit then you can get this card easily through card on card basis
Prashant your HDFC card limit is ” wow “. Thanks for sharing your limit information. Siddharth is little shy to share his card limit. I don’t unserstand why. If Siddharth can explain his journey of credit limit ehancement than it will be very inspiring for many peoples like us. What do you say Siddhart ?
I ask for LE every 6 months with IT docs. They increase by 50% approx everytime. Doing it for 2-3 years can easily get you a handsome limit. There isn’t any magic way around 🙂
P.S. Auto LE is powerful and can get you 2X at times.
I got Auto LE every year from 2011 and reached 6 Lakhs in 2015. Since then not getting any Auto LE offer.
Hari what relationships you have with HDFC besides HDFC. They have not done auto limit enhancement even once in my case. I have this card from 25 months.
Thanks Siddhart for your reply. Sorry if I have offended you.
My ITR was Rs. 4.01 lakhs and when I send form to HDFC Chennai they didn’t increased my Regali First credit limit ( currently Rs. 1.8 lakhs ).
Ususlly I file such ITR in which I don’t have to pay taxes but this time I paid Rs. 8,700 as income tax solely for credit limit enhancement. Feeling very sad.
1.8L limit on 4L ITR is fairly generous. HDFC probably thinks they have already given enough for an year’s worth of spends, let alone a month. 50% of annual income is very high credit exposure.
The only way you will get enhanced limit is if you make high spends (>25-35% or more of limit at least) and pay in full every month. However, I highly discourage buying things you don’t need or making manufactured spends because it can easily blow up into debt. Also, please don’t file extra income and tax just for enhancement.
It’s just a credit limit. You don’t need more than what you have. If you need more limit for fun or CIBIL utilisation ratio, a simpler way is to get other cards. SC is easy for card-on-card.
If you’re playing with fire just for a YES Preferred card. Apply for their card you’re eligible for and later look for upgrade.
Thanks a lot for your valuable and very helpful feedback.
Hi Amex Guy
Could you please write a review on DBS treasures debit card and send it to Sid?
Many thanks.
Is there any way I can get this Yes Bank First Preferred card by opening a bank account in Yes Bank?
Seems like they have ended the offer to redeem reward points for an amazon gift voucher.
Cant Seem to find the same on their credit card rewardz redemption page.
@Rahul Sharma I can very well see the Amazon vouchers on Yes CC redemption page. Please recheck at ur end.
The whole process just took me 10 working days.. Wow!!
Another personalised offer from Yes Bank. Received an SMS today. Spend INR 20000 and earn 5000 RP over and above the regular RP. Valid on transactions done from 16th Dec to 31st Dec on all retails spends excluding Fuel.
I’M getting this card as LTF, alhough i also hold HDFC ClubMiles, Amex MRCC, and Indusind Iconia. In addition, my wife has regalia. Does it make sense for me to have this card in addition ??
This is one of the best cards right now. Every month there run some spend based promotions which are really cool. This month it is spend Rs.15000 and get 5000 RP.
Hi All,
I have been using HDFC regalia, Standard Chartered and RBL fun+ card. I just received Yes bank first preferred card. RBL card is pretty cool as they offer Rs.500 flat off for movie booking on Bookmyshow.com
For people who want to upgrade to Exclusive, there is a catch… On preferred if we spend 7.5L will get 20K bonus reward points, on exclusive card 20L is amount spend required for 25K bouns points….. for people who consider reward points.
I checked with CC , they said if I spent 7.5L in Preferred after that If I upgrade to Exclusive still I will get 20k bonus Points.
Still , need to get mail confirmation
What do you guys think about their customer care? I believe that they need to improve a lot in that area. 2 of my fuel transactions last month were both surcharged at 2.5% and I got only 1% waiver. It’s the same petrol bunk, same machine and till last month I was surcharged only 1% and got the same percentage as waiver (except for taxes indeed). When I spoke to YB customer care I was told that the surcharge has been 2.5% always. I then pointed them out to my last month bill and asked them to make the calculations for themselves and verify and finally they agreed that only the last 2 transactions were surcharged at 2.5%. So finally they said they’ll forward it to the concerned team and have them address it. Also I usually receive 0.75% cashback for digital transactions at petrol bunks and this time that didn’t come either. I told them that too. But this usually comes from HPCL and notified them too. Still waiting for a response.
Hi, I’ve read this credit card will also be issued against fd, can you plz help me know the amount required? Tia
Hello Everyone,
Could someone help me with their experience of a savings bank account with Yes Bank. I am presently a preferred card user and have a savings account with IDBI. Am planning to open a new savings account in Yes Bank. Is that a good option? How are their banking services? Does it increase the chance of me getting an upgrade to Exclusive down the line?
I have crossed the 7.5L milestone last week and called customer care today to know about the timeline for getting the milestone RPs. They said the RPs will be credited after the card anniversary date which is due in a month for me.
As I was about to disconnect, the lady said she needs two mins of time and to my surprise, she mentioned that my card is eligible for a credit limit increase (my second this year) and also a free upgrade to Exclusive. I gladly accepted without second thoughts.
Praveen, How old you card is?
Hi Sid,
Can you please clarify
It says that I get about 4 PP visits in a year and 3 Mastercard visits every quarter.
Can I use make use of both i.e. 4 in PP and 3 * 4 in Mastercard access or is it just anyone method?
Also any charges in using PP in India as charged by HDFC?
Thanks
I requested them for a limit increase on my existing card and up-gradation to YFP. Sent a letter to Chennai.. got a reply today that the request can not be processed.
Closing my existing card with them as the rewards card is of no good use.
I got this card against a fixed deposit of 3L. I already had some fixed deposits in my yes bank savings account, so did not mind it. What would be the process to move it from FD to normal CC. Also, after how much time and spends should I apply for an upgrade to exclusive?
You cannot “upgrade ” to Exclusive if you have this card against FD. For that, you need to cancel this card and apply for a fresh “Exclusive” card if the Exclusive variant is available against FD.
If we use the Priority Pass that comes with this card for domestic lounges, is it chargeable like it is now for Regalia?
Hi Siddharth,
How do we redeem the reward points in this card? Is there any charge for that like Rs 75 in HDFC cards?
Also, is partial redemption allowed? For example, a flight ticket would require say 20000 points but I have only 10000. Can i pay the remaining amount through card? Also, is there any minimum number of points that one needs to accumulate before going for redemption?
Thanks & Regards
Hi , I have yes first savings account ,6l+ .I have SBI click advantage credit card .85k limit .no previous ITR .am I eligible for yes first preferred cc . Without fd . I run business .
Siddharth I have HDFC Regalia First with Rs. 2.25 lakhs credit limit. I want to apply for YES Preferred card on card basis but I will not get it as my existing limit is less than 3 lakhs. So which YES card I should apply and how I can upgrade it to preferred in future ? My CIBIL is only 771. Do you think it will decrease my chances of YES card approval ?
Siddharth did you also provided income proof details when you applied ?
No.
They say the Yes first Business is as good as Yes first Prefered. One gets access to international lounge 2 more times in the year with Yes first business. The reward points seem to be a little lesser in Yes first business vs Yes first preferred. Any drawbacks that you see in Yes first Business ? Would you prefer it over Yes first Preferred?
Amazon voucher seems no more available…very sad
How do they verify the life of CC ? , i have Amex having limit of more than 5L , for card on card they need 1 year old card but mine is 10 months old. will i be able to get card on card offer.
they can verify it in your CIBIL report. Account opened date will be there.
Your card issuance date will be recorded in CIBIL any how. Also they will check the expiry date printed on the card which will be usually 3 or 5 years from the card issuance date.
Hello everyone,
I am holding a LTF YES First Preferred and also a HDFC Regalia CC. The Regalia is my older card that i have been having since the last 5 years. After getting the Yes first card, i shifted almost all my expenses to the YES card from the HDFC card. I did it as the YES has 8 RP for 100 Rs spent while Regalia had 4 RP for 150. My main redemption is for flight tickets and not anything else.
I wanted advice whether that’s a good strategy. And also would it be of any benefit to give up Regalia and apply for Diner’s Black? The YES B that i hold is on MC platform. I also have a Visa Sbi Elite.
I am surprised by Yes Bank. I recently reviewed cibil and I was reported for high credit. I utilized 60-80% in two months and paid 90% of utilized amount before the bill was generated. They target us for spend based offers, customer care has no clue.
I wanted to use the spend based offer and other time, I paid for a big celebration at home. I used AMEX for several years and used lacs on them and paid several times in the year. Never ever reported.
See reporting date of balance on the report. If you are keen on paying your unbilled outstanding to lower your overall outstanding (billed + unbilled) you should pay before 30/31st of the month as they report balance as on 31 and not your billing cycle.
Not sure what you meant by reported for high credit. Recently taken yearly membership for Cibil Reports. What I see is that very credit card reports the balance on the Bill Generation Date. That value will be in “Date Reported And Certified”. Is Yes Bank not doing it. This time Amex didn’t report my credit limit as I have taken another AMEX card. So, utilization has shot up. Need to followup on that.
Between Yes Bank rejected my card. Had to call multiple times, Twitter to get the news :). I was planning to make this my primary account but after all this now have secondary thoughts.
What do you mean reported for high credit? Your highest credit utilisation will always be reported to CIBIL etc. regardless of the number of times you make (pre) payment. Also, there is nothing wrong or bad in such reports. This is the regular process! My current “high credit” as reflecting in CIBIL statement is 98K; an amount I used last year. That will be replaced soon by my current utilised amount of 150K. This is how it works!
I just found out that some true charge cards (AmEx Gold or Platinum Charge card included) i.e cards where the full balance is due every month (unllike a credit card where you have the option of revolving credit by paying minimum amount due) don’t report card balances to the credit bureaus. The best way to find out if yours does is to call the card issuer and ask.
Can anybody please tell me if it’s possible to set/modify international or domestic limits on this Yes card like you can do with HDFC bank cards?
Yes
The website says, points will be given on “RETAIL SPEND”. Can someone explain what that actually means.
Online transactions will be considered in it.
Dear Sid
Now this YFP card eligibility has been enhanced from 1.2 lac salary/ 18 lacs ITR to
2 lacs salary/ 24 lacs ITR recently.
Its now more difficult to get approved for this card via salary.
Dear Sid
Yes bank recently launched Yes Premia credit card.
This card is positioned below YFP with eligibility criteria salary 1.2 lac/ ITR 15 lacs.
This card is just like HDFC Regalia First (trimmed version of Regalia)
Yes Premia (trimmed verssion of YF Preferred)
Now it will become all the more difficult to get YF credit cards.
What say Sid?
Is any one aware about the credit limit required now to get this card on card to card basis?
Since they have launched Yes Premia credit card, I suspect they might have changed the existing limit of 3 Lakhs.
Yes, its increased drastically
For Card on Card it’s 5 Lakhs limit and ITR is 24 Lakhs
You need 5L credit limit on existing credit card which should be one year old, then you can apply for FYP based on card on card.
Last week I got a call from yes bank cc team
card on card basis
Premia it’s 3lac and
Yes first preferred it’s 4lac
My hdfc regalia is 3lac CL so they said they can only issue premia which I declined. I’m planning to upgrade my limit on hdfc regalia to 4lac then to apply this card.
YesBank’s YES First Preferred Credit Card reward page is updated recently with many options.
If anybody has lots of points, it is good to check.
While Amazon gift card is not back yet.
Cool. That’s quite a lot of new electronics and even Kent RO 😀
Received the Amazon e- Voucher for July spends
I love this card, I also to got Rs.1000 Amzon Voucher, previous month I got Rs.1000 BMS Voucher. This month I’m waiting for Rs.1000 BMS Voucher for my wife’s card.
This month I got offer to get 5000 bonus points if I spend 60K but I don’t know I will spent that much.
Dear Sid
I applied YFP for my spouse 12 days back and on login her netbanking is showing YFP card details.
Status shows that it will be delivered in 5 days. Its LTF also as she is a salary account holder in Yes bank.
And its her 1st credit card.
Thanks for your blog without which it wasn’t possible.
Received spouse YFP card today in a beautiful package alongwith PP. One thing to note that YFP and its PP validity is 5 years, whereas HDFC as well as Citibank credit card has only 3 years validity before renewal.
Sadly they have provided only 30K limit. And the card looks are nowhere in comparison to YF Mastercard World debit card.
Though its better to have YFP with less limit than having Yes Prosperity cards with more limit. And its her 1st credit card. All in all very happy.
Siddharth,
I am 41 year old IT professional based in Chennai.
Currently have
1. SCB Manhattan (offline shopping)
2. SBI Simply click (online shopping)
Overall spend is around 7 lacs a year on credit cards. I feel the rewards and the no privileges are a clear indication to change cards. I made mistake of delayed payments in June and July this year when I was travelling. How much will it affect my credit score ?
Planning to let go of both cards and get
1. Amex membership rewards
2. Yes bank first preferred credit cards.
What would you suggest ?
I travel officially once a month and with family twice a year.
Thanks
You need a travel card, preferably Amex Platinum Travel.
Depending on your eligibility, HDFC Diners black/ HDFC Diners ClubMiles will cover a lot of your online needs giving you free air tickets.
Yes First Preferred is good, but also look into SBI Prime/Elite.
And one definitely needs at least one AMEX card.
Also, assuming that you got your CC before any loans, don’t get rid of your oldest card, it has your CIBIL history, so if its SCB get it upgraded to Ultimate or if its SBI get it to prime.
They no longer offer Amazon vouchers 🙁
Will they accept ICICI Coral card (10-year-old card) with 4l limit for card-on-card application? Or do they prefer only HDFC/ Citibank?
Got pre approved offer for ltf YFP card from Yes Bank today and filled the application form today itself. Should receive it within 15 days.
Satish congrats. For how long and how much money you have maintained with Yes Bank ?
Thanks Captain.
8 lacs +
Just over 2 months.
Hi Satish, How you got the information of Preapproved Card, in Netbanking or through mail / sms/call. What kind of form you filled online / offline. Through some light.
TIA
Yes Bank rewards redemption is a pain… Their out of date technologies are frustrating.. I tried to redeem 4500rs worth of points to buy an airline ticket worth 10k, thinking they might have points+pay option like HDFC.. it seems that they only allow point redemption, no option for points+pay .. so then redeemed 2 Cleartrip vouchers worth 2k each, thinking they will send evouchers immediately… But then that was messy too because they apparently send physical vouchers only.. in short I have to wait atleast 3-4 days (7 working days according to their stupid policy) for the vouchers.. by that time ticket gates will go up, plus I have to pay 700 bucks extra to Cleartrip as convenience fee.. in short my reward rate just dropped to 1.65%…. the entire experience is frustrating..
Dear Sid
Looks like PP issued with YFP can be used for domestic lounges also. As the welcome kit of YFP says this–
“YES BANK recommends the use of MasterCard affiliated
lounges in India. Priority Pass Card can be used during
international travel at affiliated lounges overseas”.
Planning to use this PP in New Delhi domestic arrivals T1 Plaza Premium lounge. Just for an experience, as they don’t accept any card except PP in arrivals lounge.
Please confirm !!!
YFE – yes. But not on YFP AFAIK. Do check with YF Customer care.
Yes, I used PP issued with my Yes first preferred card at T2 departure in Delhi.
YFP card shown in netbanking page.
Should receive it by this weekend.
Dear Sid
Recd. my YFP card today.
They have significantly downgraded the cc beauty box.
I suppose as a cost cutting measure recently.
Now the outer pack is a simple envelope just like other banks cc envelope.
If you require the outer box pics I will send it to you.
Probably because they’ve started issuing in large numbers. Pls drop me the snap on email.
Yes, there’s not product feature booklet either, just a flyer similar to what you get for bank products.
Does YFP card offer free Domestic Lounge Access to Add-On Card?
No.
Recently applied for Yes First preferred card using my SC card , card on card basis. Getting their executive to collect the document was a pain, had to follow up for almost 3 weeks. But after that process was fast. verification got over with few days and card was delivered in a week. credit limit got is 1 lk.
YFP card limit enhanced within 1.5 months of issue, on my email request. Credit limit almost doubled. Yes bank is known to provide low limits these days, hence quite happy.
@ Varun
How you escalated , by when medium , any email id? pls can you share , they have rejected my applicaion , inspite of having good credit score without mentioning reason of rejection .
Dear Siddharth and Others,
While applying for my Yes First Preferred card, I couldn’t find my IT Return at that moment, and so the sales guy told me to take it against a 3 lac FD. He said later on I can give my ITR and get it transferred from FD basis to ITR basis.
But now when I inquired, I was told FD based card cannot be transferred to ITR based card since both have different Terms. So I will have to first surrender my FD based YFP card, wait for cooling period of 6 months and only then take a new YFP card on my IT returns.
Do you have any suggestion how I can avoid this long process and directly de-link my existing card from my FD?
You CANNOT avoid the process. Secured Cards taken against FD cannot be transferred! You should have gone through this blog before commiting yourself to an FD based credit card.
Sid,
You mentioned about wanting to upgrade to Yes First Exclusive Credit Card.
I wouldn’t advise that, especially if you already have other super premium credit cards like Diners Black & Standard Chartered Ultimate.
Consider the below example:
Bonus points on Yes First Preferred is 20000 points (on reaching threshold spends of just Rs7.5 lakhs
But, bonus points on Yes First Exclusive is 25000 points on reaching threshold spends of Rs20 lakhs. That’s a steep climb…almost thrice the required spend limit, with only 5000 incremental bonus points.
So if you do upgrade from Preferred to Exclusive, you will be losing on Rs5000 worth of Flight vouchers (value of the bonus points on your current card) vis-a-vis earning 3750 incremental points (since the return ratio is now 2.5%, instead of the earlier 2%) which has a money value of just Rs938.
Not a good deal.
The above analysis is based on below two assumptions:
1. Your Spends on Yes Card is Rs7.5 lakhs annually (which earns you that 20000 bonus points)
2. Most of your spends are through Diners and Ultimate, since they have a high return of 3.3%. It would be highly unlikely you’ll be spending 25 lakhs thru Yes Exclusive to achieve the 25000 bonus points, when you have these two giant cards in your wallet.
So overall, I feel Yes Exclusive is a good option, only if you don’t have other premium cards like Diners and Ultimate.
That’s correct with your assumption on regular rewards. But not if you consider accelerated offers like 2x/3x/5x, which anyway is no more happening. And then there are other benefits like Priority Pass.
Have the quantum of 2x/3x/5x offers reduced?
was thinking about getting this one next.
Is this still worth it?
Its not reduced. Its just “gone” for now!
My YFP is in “cold storage” mode for sometime now. No 2x/3x/5x/10x offers, BMS offers, removal of Amazon and Flipkart GVs are all bummer. I would get the YFE only for the Priority Pass benefits and not bother with YFP. Yes Bank should up their game.
Have any one ever used the concierge services provided with YFP. if yes please give review about it.
Got an offer on my Yes First Preferred, on spending 40k between 12th -28th Feb 2019, a Bookmyshow voucher of Rs 1000 would b given.
Pls share ur email, so dat i can send u screenshot.
I had stoppes uaing this card especially after getting scb ultimate. Today got an offer spend 5k get 500 bms voucher. Offer from 20feb-28feb.
Cool. Very much doable!
Sid sorry for spelling mistakes…..i am terrible with touch screen typing 😀.
I also had stopped using this card in last couple of months. Received this same offer in the evening.
GT MAX,
Even I am thinking to stop using YFP card as given limit is too low and haven’t got any offer. I’m using this card from 9 months. Have decent spends over 4 lacs.
Even i got the same offer on my yes prosperity edge card.
I have Yes First Preferred and wanted to upgrade to YFE. Still considering to avail the offer or not if i am eligible after few months for YFE.
Points to note :
There is 2.6% return on 7.5 lakhs spend annually but for YFE you need to spend way higher 20L to get 2.8% as return. Only 0.2% more.
I know apart from this
Unlimited Lounge Access and Taj Epicure Membership are complimentary on YFE. Also higher credit limit.
Am i missing something?
Suggestions are welcome
Regards
Hi all
I am holding regalia and been offered Black. As a backup card I want to take Yes bank first preferred. I have checked their site and it says LTF card. So what can I expect the bank would ask to trade for LTF. I can’t submit ITR so whether card on card is the only option to get or any other alternative. What does the bank ask if its card on card and in how many days can I get it. What is the criteria for Yes first exclusive LTF. Also for yes preferred it says 4 complementary Lounge for priority pass. Can an Add on card holder use those 4 Lounge or it’s only for primary card holder. And also I can’t find in terms and conditions about expiry of reward points. Please advice so that I can talk to bank executive accordingly. Thanks in advance.
Hey Rohit,
YFP is LTF card at least for now. For card on card you need to give 3L limit maybe increased now to 4L confirm this with branch.
You will get the card in 15-20 days. That’s the avg time they take for processing.
No expiry for rewards points.
Only Primary card holder has access to the lounges.
Some got exclusive as LTF. Maybe high relationship with the bank can help.
Received an offer on YFP this month of 1000/- BMS Winpin voucher on spends of 50000/- or more between 11th-31st March
Got loan offer on my card.
Rs.2L for 6 montha at 10%PA
or Rs.2L for 12 months at 11%PA
no processing fees.
Thats an incredible rate for a personal loan. I opted for the 12 months loan and asked to consider this for card upgrade. There is a remote chance of card upgarde but lets see.
Yes, they’re aggressively selling this recently. Got a call too a week back.
Hi Sid,
I currently have Prosperity edge with 5.78 L limit, post 1 year of usage in which max monthly use was 1.5L. Monthly salary though <1lakh, with salary A/C in YB. My starting limit was 1 lakh previous year, which they auto enhanced multiple times.
What are the chances of Yes Bank CC team allowing me YFP LTF.
hi,
can you elaborate on area of spends? figures not needed
regards
@ Vaibhav
Upgrade from Prosperity Edge to YFP possible, just give a call to Customer Care and request.
If it doesn’t works, alternatively i can suggest (assuming the same kicked my upgrade from YFP to YFE after just 6 months and around 37K spends only) you to take some Interest free EMIs (EMIs where portals like Paytm Mall/ Amazon/ Flipkart refund you the interest amount), even if you dont actually need it, this way you don’t pay the interest but Yes Bank gets the Interest amount and you just sacrifice on 18% GST on interest portion.
Hope it helps.
@Prashant Gupta
1. The loan amount offered to you is within the limit or over the limit ?
2. Is there any GST on interest part or is it like HDFC Jumbo Loan?
3. Any CIBIL enquiry for loan processing?
Thanks.
@Prashant Gupta
@Siddharth
Awaiting Reply.
Sorry @abhishek looks like your comment got hidden by too many comments.
1.Yes its within limit. Limit is blocked.
2.Yes there is GST on the interest part
3. No cibil enquiry since its part of your limit which is already assigned by bank.
I dunno if my search is not working or if really everyone here forget to mention that this card provides 1.75% foreign currency markup which is best among all credit cards in India.
Nope, definitely not the best among all credit cards in India
Siddharth, One doubt..
Priority pass access on this card is for international use only or is it domestic + international?
Hello I got into the world of credit card 5 months back when HDFC offered me LTF MoneyBack card with limit 60K. I spend about 30-40K per month on this card. The returns in this card is bad. I’m thinking of getting the Yes First Preferred against FD of 3Lakh. Do you think it better to get it when compared to MoneyBack. Also please suggest any other good semi premium or premium cards which are offered against FD .
YFP is any day better than Moneyback as the former has domestic as well as international lounge access. BMS offers on YFP is better and even FCY is less at 1.99%.
HI,
I have an yes bank saving account opened 3 months back whether in future will i get any pre approved credit card? any chances??
Ask the bank branch!
Don’t worry friend. Just maintain as much balance as you can but keep it below 5 lacs as this is the safe zone incase bank goes bankrupt as per RBI guidelines.
Do the above and if your city is in their card serviceable area, you will surely get a pre-approved offer within 6 months. That’s how I got pre-approved card from them and several other friends too. Type of card and credit limit will depend upon the kind of balance n relationship you maintain with them.
Yes, very much possible. But you can apply for preferred or any other card as LTF based on salary creteria, later it can be upgraded to next higher level based on usage after 6-9 months.
Hi Sid,
I do have Premia of Yes since last six months, recently got a call from their back end for upgrading into First preferred.
It is such a simple process.Yes is really an aggressive player now days despite their internal management issues.
Hope First preferred would be upgraded into First Exclusive soon which is super premium an at par viz a viz HDFC Infinia or Diners black.
On par with hdfc infinia?
Are you kidding? Yes preferred and exclusive are devalued and they are now garbage cards just useful for only lounge access which btw infinia and dcb give unlimited already.
Yes exclusive is not at par with dcb or infinia.. its card for someone who doesnt have the infinia or dcb.
Yfe is no longer at par with Infinia or DCB.
@ Vivek ~ Yes First Exclusive is neither a super premium card nor at par with Infinia or DCB; it used to be at the time of its’ launch but got devalued in April, 2019 & lost its status. You now have far better cards depending on your lifestyle & requirements which are miles ahead of YFE itself!
YES is no longer an aggressive player in the credit card field; it’s more like a desperate player…..
I was looking forward to recieve my Yes First preferred kit along with priority pass. Unfortunately they have changd their packaging. Now you do not recieve the kit with the priority pass and its no longer attractive. Covid cost cutting!! Its just an another envelope now 🙂
I shared my documents (3M Payslips, Infinia card statement and ID, address proofs) over WhatsApp and my card got approved within 20 days. Today I received the card but without any Priority Pass. Also the credit limit is very low (lowest among all my cards). It’s in 5 digit though my Infinia (Card on card) limit is 15L. Not sure, how they decide the limit and also in this limit, it’s an useless card for me. Also, though it’s FYF, don’t know it’s LTF or not (I don’t have any other relationship with the bank). The executive over phone (who initiated the card processing) didn’t clearly mentioned about it.
As confirmed by CC over phone, it’s LTF.
I had applied for an LTF YFP card on a C2C basis with an existing card limit of more than 4L and received the following response:
We regret to inform you that we are unable to process your application as it is not meeting the Internal Policy Parameters of the Bank for the card variant which you have applied for. However we would like to have your consent to process your application for the eligible card variant.
There is a form along with the mail with an option to apply for around 5 other cards from Yes Bank.
Is there anyone who has received this kind of mail while applying for a credit card from Yes Bank?
Hi Sid,
Did anyone receive 10x rewards of doing shopping from Flipkart/Amazon as mention in “yescart” because I have done many transactions but its now more than 90 days but still no additional rewards(10x) is added to my account and its only showing to normal rewards like 4 or 8 points per 100 rs?
Pls take this Card at your own risk. Bank may not work as per your instructions. They will simply say since the official has left the organization We can’t trace ur instructions.
Git this card recently and trying to find if there is any use of it. It was offered lifetime free and had lounge access so went for it but now asking myself whether points here make any sense or not.
I can get an amazon voucher for 500 for 5000 points. That rates each point at 0.10 INR and thus the top tier point rate of 16 Reward Points on every INR 200 on Travel & Dining Spends gives me real value of just 0.8 INR / 100 INR spending or 0.8%. That’s lower than even Amazon ICICI card and this top tier of 0.8% is capped at 3000 INR a month. Hence card seems not that attractive.
Does anyone know how is 10 points for 1 Club Vistara point conversion? Is that worth it? How would you rate/value a CV point?