|YES FIRST Preferred Credit Card Rating|
Ease of Redemption ★★★★
Lounge Access ★★★
Annual Fee ★★★★
Other Benefits ★★★
|Overall Rating ★★★★|
YES Bank was among the last few leading private sector banks to launch credit cards in India. In 2016, it started with a range of 7 credit cards suited to different needs; YES FIRST Preferred Credit Card was also among these initial offerings of the bank. By the time it came in the market, there were already airline-branded and highly rewarding credit cards. But, this YES Bank Card quickly rose to be on the list of best travel and rewards credit cards that does not charge any annual or joining fee. Here’s a detailed review of YES FIRST Preferred Credit Card.
Key Highlights of YES FIRST Preferred Credit Card
*Terms and Conditions Apply
High Rewards on All Purchases
The reward program on YES FIRST Preferred Credit Card is truly among the best ones in the market. You can earn rewards in the form of regular earnings, joining and renewal bonus and on reaching spending milestones.
- 4 reward points per Rs. 100 on all expenses
- 8 reward points per Rs. 100 for transactions made with travel agencies, tour operators, domestic airlines and on dining
- 20,000 bonus reward points on reaching the spending milestone of Rs. 7.5 Lakh in a year
- 1,000 reward points on YES PayNow Registration
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. The value of 1 reward point is Re. 0.25. The catalogue redemption option is not available to NRI cardholders.
Given that the card is available at an annual fee of Rs. 2,500, reward earning is quite impressive. However, the monetary value of rewards could be better. Here’s a comparison table to give you a better understanding.
|Credit Card||Annual Fee||Rewards Earning||Value of Rewards|
|YES FIRST Preferred Credit Card||Nil||4 Points per Rs. 100||Re. 0.25|
|HDFC Regalia Credit Card||Rs. 2,500||4 Points per Rs. 150||Re. 0.15|
|SBI Card PRIME||Rs. 2,999||2 Points per Rs. 100||Re. 0.25|
|ICICI Sapphiro Credit Card||Rs. 3,500||2 Points per Rs. 100||Re. 0.25|
|IndusInd Bank Platinum Select Credit Card||Rs. 999||1 Point per Rs. 150||Re. 0.75|
The chart below shows the rewards that you would earn on spending Rs. 5,000 across similar cards. Please note that the minimum points needed to convert rewards into cash could vary from card to card. The data shown is for illustration purpose only.
As we can see from the chart above, the YES Bank card lets you earn big rewards but the ultimate conversion value is lesser. This is the case with most of the compared cards except IndusInd Platinum Select that offers Re. 0.75 for each reward point.
Lounge Access- Domestic and International
Priority Pass Membership
On your YES FIRST Preferred Credit Card, you can avail complimentary Priority Pass Membership which is worth $99. Under this program, you will enjoy 4 complimentary visits to any of the Priority Pass Lounges across the world. This visit is only available for the primary cardholder. Any guest visitor or even add-on cardholder will have to pay $27 + GST for the visit.
Mastercard Lounge Access Program
You will also enjoy 3 complimentary visits to domestic airport lounges per quarter. This is also only for the primary cardholder.