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
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,
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.
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!