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Yes Bank Preferred Credit Card Review

Yes Bank Preferred credit card impressed me in a lot of things. I found preferred credit card comes with 1.75% foreign currency markup which is lowest in India. Even the interest rate for yes bank customers is only 14.40% which is also lower than many cards.
Without wasting your precious time, here is all the information related to Yes Bank Preferred credit card.
Fee Charges
First Year – INR 2500
Renewal Fee – INR 2500
Interest Rate – 14.40% for bank customers & 23.88 for non-bank
Foreign Currency Markup – 1.75% (lowest in India)

Welcome Gift

  • Get 15000 reward points on your first transaction within 90 days of card issuance.
  • Enjoy 10000 reward points on every renewal.

Yes Bank Preferred Credit Card Costs You Zero Annual Fee 
You will get a welcome gift of 15000 reward points on your transaction in the first year. The redemption value of 15000 reward points is equal to INR 3750 ( 1 Reward point = INR 0.25), INR 1250 more than your annual fee.
From second year you get a welcome gift of 10000 reward points.The redemption value of 15000 reward points is INR 2500 which equal to an annual fee.

Bonus offer

  • Get 20,000 reward points on achieving annual spend of INR 7.5 lakh.

Reward Points & Discount

  • 8 reward point for every INR 100 retail purchase (except fuel).
  • Enjoy 25% discount on movie ticket booked on BookMyShow. Maximum discount capped at INR 250 per calendar month. That’s amazing

Redemption of Reward Points
1 reward point is equal to INR 0.25. Redeem for Hotel, flights and movie booking on dedicated websites.You can redeem the reward points for JPMiles. Redemption value will be 4 reward points = 1 JPMiles.

Let’s Calculate How Much You Can Save With Yes Bank Preferred Card

yes bank preferred credit card review

Fuel Benefit
Get fuel surcharge waiver at all the fuel stations across the India for a transaction between INR 400 to INR 5000.Maximum fuel surcharge capped at INR 500 per statement cycle.
Lesser Known Benefits of Yes Bank Preferred Credit Card

  • 1 crore air accident insurance in case of death due to flight accident.
  • INR 25 lakhs on medical emergencies while traveling overseas.
  • INR 5 lakh credit shield cover on accidental of primary cardholder.
  • Priority Pass Membership for the Primary Cardmember.
  • 4 complimentary access to lounges on Priority Pass Membership for the primary cardmember in a calendar year.
  • Enjoy complimentary Golf lessons at selected golf courses.

Check Your Eligibility

  • Applicant should be of age between 21 years to 60 years.
  • Both salaried and self-employed can apply.
  • Applicant should have a personal income of INR 18 lakh or more ( for both salaried and self-employed).
  • Yes Bank Preferred Credit Card is also available against fixed deposit in selected cities only. For this, you have to contact your nearest yes bank branch.

Documents Required

  • Identity Card.
  • Address proof.
  • 1 passport size photograph.
  • Salaried class- latest one-month salary slip.
  • Self Employed – Latest IT return with the computation of income.
    Comparison of Yes Bank Preferred Credit Card with HDFC Regalia Credit Card

Yes Bank Preferred Credit Card review

Final Review on Yes Bank Preferred Credit Card
I personally like the credit cards that offer welcome gift having a value equal to the annual fee or having some annual fee waiver clause. Because I don’t like to pay an annual fee.This card belongs to the same category.
Along with annual fee benefit, you will get direct 2% saving on your all spends more than HDFC Regalia credit card (one the most famous credit card).
On above that, if you spend INR 7.5 Lakhs in a year you will get 20,000 reward points.
All these things make me excited for this card. But..
Applying for this credit card, the applicant should have a minimum annual income of Rs 18, which make this card for the very limited section of users. If you belong to some section, then you should go for the card.

  • Updated August 8, 2017
Raghav Gupta
 

I keep the track on latest deals and offers on Credit Card. I love to share my credit card research work with CreditFrog audience.

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13 Benefits of Credit Card That Will Save You More Than 10,000 Rupees Every Year - Credit Frog - August 22, 2017

[…] in cases, you have to fulfill the certain condition to get the signup reward. For example, with Yes Bank Preferred credit card, you need to make the first transaction within 90 days of card issuance to get the welcome reward […]

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