YES FIRST Preferred Credit Card Review

YES First Preferred is a multi-faceted credit card offering benefits across categories like travel, reward points, entertainment, and much more with annual fee as low as Rs. 999. It’s an excellent card for people who want to earn decent reward points. Let’s understand all the specifics with a detailed review of YES First Preferred Credit Card.

Exciting Reward Points on Multiple Categories

YES FIRST Preferred Credit Card has one of the best reward points program in the market.  It offers 8 reward points on every Rs.200 spent on all categories (except select categories), 4 reward points for every Rs.200 spent on select categories and 5X reward points on the first 3 transactions of the biller registered on YES PayNow ( (valid only on first 5 billers registered)). Not only this, but you will also get 20,000 bonus reward points on spending Rs. 7.5 lakh in a year.

Redeeming the Rewards

You can redeem the rewards earned on your YES FIRST Preferred Credit Card to purchase an item from their rewards catalogue or to book flight tickets/hotel stays/movies through their dedicated website. Reward points can be easily redeemed against air miles (10 Reward Points = 1 InterMile/1 Club Vistara Point). The reward rate for this card is quite low as there are other cards available in the market that offer higher reward rates such as HDFC Bank Diners Club Rewardz Credit Card (1 reward point = 0.30 air mile).

Note: The catalogue redemption option is not available to NRI cardholders.

Complimentary Lounge Access

Domestic Lounge Access

Complimentary domestic lounge visits can be availed 2 times in a quarter only by the primary cardholder

Priority Pass Membership

On your YES FIRST Preferred Credit Card, you can avail complimentary Priority Pass Membership which is worth $99. Enjoy 4 complimentary visits to any of the Priority Pass Lounges across the world. This visit is only available for the primary cardholder. 

More Travel Benefits on YES FIRST Preferred Credit Card

Low Foreign Currency Markup Fee: 1.75% FX Markup Fee makes international expenses much easier on your pocket.

Travel Insurance Coverage: 

• Life Insurance Cover of Rs. 1 Cr for death due to Flight Accidents
• Medical Insurance cover of Rs. 25 Lakhs for emergency hospitalization when traveling overseas
• Credit Shield cover in case of accidental death of Primary Cardmember

Suggested Read- Best Travel Credit Cards in India 2022

Complimentary Golf Program

Despite charging an average annual fee, the card manages to offer a few premium privileges to its users in the form of golf benefits and concierge services.

• Green Fee waiver at select golf courses thrice a year (limited to once a month)
• 1 Free Golf Lesson every calendar month

Other Benefits and Discounts

Entertainment Benefits: Avail 25% discount on movie tickets when booked on BookMyShow Website or Mobile App, subject to a maximum discount in a calendar month capped to Rs 250.

Fuel Surcharge Waiver: 1% Fuel surcharge waiver at all fuel stations across India for transactions between Rs.400 to Rs.5,000.

Annual Fee Waiver:  Annual fee of Rs 999 + Applicable Taxes is waived off on spending Rs. 2.5 lakh in a year and for the subsequent year

Contactless Technology: This card is enabled with contactless technology which facilitates fast, convenient, and secured payments at retail outlets.

Is the Renewal Fee of Rs. 999 worth it?

YES FIRST Preferred Credit Card comes with a membership renewal fee of Rs.999. This card comes with an extensive benefits package that includes travel, dining, and entertainment categories. Besides, the reward points on every transaction are also quite decent. A milestone feature of 20,000 reward points is also available on the spending of Rs. 7.5 lakh in a year. This equates to a satisfactory savings rate of approximately 2.7 percent. So, we believe that the annual fee of YES FIRST Preferred Credit Card is completely worth it.

Should you Get this Credit Card?

YES FIRST Preferred Credit Card is best suited for individuals who are interested in a decent rewards program and benefits across travel and entertainment categories. The joining fee of Rs. 999 is well compensated with bonus reward points, travel perks, golf benefits, movie offers, etc. As we have explained in the last section, the renewal fee of Rs. 999 is also worth it when you are getting so many privileges with one credit card. This means you have multiple ways of saving on every transaction. We would suggest if you agree to at least 6 out of these 9 statements, you should choose YES FIRST Preferred Credit Card.

1. Your monthly income is Rs. 2 Lakh or above (This is an eligibility condition)
2. You travel within the country quite often but not much to international destinations
3. You put major expenses in a month on credit cards
4. You want simple rewards on your cards that can be easily redeemed
5. You go to the movies at least a few times a month
6. You spend most of your weekends dining out
7. You like golf but do not wish to spend so much money on the games
8. You have a fixed deposit of Rs. 3 Lakh or more with YES Bank
9. You only have a basic credit card with you

Drawbacks of YES FIRST Preferred Credit Card

There are a few limitations of this credit card as shown below:

• Air mile conversion option is only available with InterMiles
• You will not earn any extra rewards on international expenditure
• The monetary value of the reward points could have been better
• No welcome benefit is offered
• Priority Pass membership is applicable only for the primary cardholders

Comparative Analysis with Other Similar Credit Cards

Comparatively, YES FIRST Preferred Credit Card is not the most competitive card in the market. It has stiff competition for those seeking versatile options.

Bottom Line

YES FIRST Preferred Credit Card is surely a good match for travellers and big spenders. An impressive rewards program, a big sign-up bonus (in the form of rewards) and a low foreign exchange markup fee together make this card perfect for you especially if you are looking for a travel-centric credit card that also works well across a few other categories too. However, getting approved for this credit card could be difficult as compared to some other cards that give similar benefits such as HDFC Regalia or SBI Card PRIME.