Yes to YES First Preferred Credit Card

Yes to YES First Preferred Credit Card

If you’ve read premium, credit, concierge, lowest rates, etc in one article then probably you’ve read about a high-end credit card. And what’s better than the YES First Preferred Credit Card? Well, as a bank that’s trying to conquer the market for itself, Yes Bank has come up with a high-end premium credit card i.e. Yes Preferred Card which brings all premium services and rewards together at a very reasonable annual fee.

This card is loaded with unique rewards, it feels luxurious and it looks really pretty (if that counts). Let’s look at the different features of this card.

It Comes With No Annual Fees
Of course, there is an annual fee of Rs.2500 but let’s look at it this way. So, as a welcome offer, you get 15000 Reward Points which equals Rs.3750 (1 RP=0.25) which is actually Rs.1250 more than the annual fees. So is it wrong to say that you are actually earning Rs.1250 rather than spending Rs.2500?

Also, you get 10000 renewal points every year which is equal to Rs.2500 which effectively cancels out the annual fee every year. Can you name any other credit card that has absolutely no annual fees from the very first year?

Eligibility
Age: Min 21 years to max 60 years (for both Salaried and Self Employed).
Salaried or Self Employed.
Min Net Salary of INR 120,000 per month or ITR of INR 18.00 Lacs and above.
The minimum ITR of INR 18 Lacs is definitely on the higher side but, YES bank also offers a card to card offers but you must have a minimum of 12 Lacs credit limit on your previous card to avail of this offer. Interestingly, this card is also offered against Fixed Deposits.

Priority Pass And Lounge Access

Like any other premium credit card, Yes preferred card comes with a Priority Pass that allows 4 Complimentary Access to lounges for the primary cardholder per year.
A fee of INR 1800 is applicable for lounge access beyond complimentary access.

Other Benefits And Features
8 Reward Points on every INR 100 retail spends (Rs.2 on every Rs.100) These Points can be redeemed on flights/hotel bookings.
Foreign Currency Markup of 1.75% which by the way, is the lowest in India.
25% discount on movie tickets on BookMyShow.
Comes with an “Instant EMI” feature for transactions above Rs.2500 at interest rates of 12% p.a to 15% p.a.
Complimentary Golf lessons at selected golf courses in India.
Dedicated Concierge Services (Car rental, hotel/travel reservations, flower delivery, emergency towing, etc)
For transactions made at Fuel Stations from INR 400 to INR 5000, the fuel surcharge is waived off.
If you spend 7.5 Lacs in a year, you get a bonus of 20,000 Reward Points which sums up to Rs.5000
Get 1000 Reward Points for every YES PayNow registration made using the card.

Final Pros and Cons
Pros: This card comes with a lot of unique features, low-interest rates, the lowest foreign currency markup, and a lot of other exclusive benefits. Everything under one basket and that too at a reasonable price. If you want to get a credit card then right now I think this is the best one in the Indian market.

Cons: With so many pros, there’s just one con this card is available only for a particular section of people who have higher ITR. I am pretty sure there are many people who would want to enjoy the benefits of this card but can’t due to a lower ITR. But for everyone with ITR>18 Lacs, this card comes with lots of pros and probably no cons.

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