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.
If you were following Cardexpert Facebook page, you might already know that YesBank has launched a new credit card variant named “Premia” which stands one step below Yes First Preferred and above Yes Prosperity Credit Cards. Yes Premia credit card was launched as a part of their premium banking product called “YES Premia” which is similar to HDFC Preferred or Axis Priority.
- Joining Fee: 1500 INR+GST
You should still be able to get the card for free as YESBank is issuing most credit cards as LTF lately.
- 3 Reward Points on every INR 100 Retail spend (0.75% Reward rate)
4 Reward Points on every INR 100 spent on Groceries, Supermarkets and Dining (1% Reward rate)
So its not a great card.
Complimentary Lounge Access
- Domestic: 2/Qtr via Mastercard lounge programme
- International: 2/Yr Via Priority Pass lounge programme (no add-on PP cards)
That’s a decent limit for a semi-premium card, though, wish they could have added some extra International visits on Priority Pass.
Reward Point Redemptions
This is where most of us are not happy with Yesbank in recent times. Few months back, Yesbank removed the Amazon Vouchers from the redemption options which makes everyone re-think about using even Yesbank’s premium & super premium credit cards.
I was fortunate enough to redeem some Amazon vouchers before it was removed. Now, eventhough the removal of Amazon voucher is a loss for us, they do have grand set of other vouchers like Taj/LP/cleartrip/pantaloons, etc which makes Yesbank cards still a worthy one to hold.
Overall Features & Benefits
- Card Expert Rating: 3.5/5
- Reward Rate: Upto 1%
- Fuel Surcharge Waiver: Fuel surcharge waiver, for transactions between Rs. 400 – Rs. 5000. Maximum waiver upto Rs. 250 per statement, Service Tax as levied on surcharge will not be waived.
- Complementary Airport lounge access: Domestic: 2/qtr & International: 2/yr
- Special Features: 2X/3X/5X promos during festive season, 25% discount on BookMyShow (capped at Rs. 250 per month)
- Foreign Exchange Markup fee: 2.5% + GST
How to Apply
Yesbank is popular for Card-on-Card LTF applications. So you can get Yes Premia the same way by applying using your existing credit card.
- Expected limit for Card-on-Card: 3 Lakhs
Yes Premia is a good upgrade if you’re using Yes prosperity Cards, as getting Yes First Preferred might be tough for some. You can compare this card with HDFC’s Regalia first or Amex MRCC that has similar reward rates. Apart from all above, i like the card design much more than the Yes First credit cards.
Happy to see that Yesbank is coming up with new products and card offerings, like Yes Private Credit card for super rich and Yes First Corporate Credit Card for corporates – Not so great products, yet they’re doing something and hope they’ll improve them in future.
Thanks to our reader Aman for spotting the Yes Premia Credit card first! Anyone here has Yes Premia or planning to apply/upgrade? Feel free to share your thoughts in comments below.