Yes FIRST Preferred Credit Card Review

Yes Bank had recently launched a new premium credit card named Yes First Preferred Credit Card. it is a low-cost credit card. It is designed for those people who want premium benefits at a low cost. The benefits offered by this card are reward benefits, discounts on movie tickets, lounge access, free golf rounds, fuel surcharge waiver, insurance coverage, and many other useful features.  

Eligibility Criteria:

  • Resident Type: Indian. 
  • For salaried person:
    • Age: 21 to 60 yrs. 
    • Income: ₹1.5 lakh monthly or the income tax return should be greater than ₹12 lakh. 
  • For self-employed person:
    • Age: 21 to 60 yrs.  
    • Income: ₹1.5 lakh monthly or the income tax return should be greater than ₹12 lakh.
  • Good CIBIL Score (780 or more).
  • You can get this card against a fixed deposit amount of ₹3,00,000 or more. 

Required Documents:

  • Photocopy of ID Proof (any 1)
    • Aadhar card
    • Voter Card
    • Passport
    • PAN Card
  • Photocopy of Address proof (any 1) 
    • Last 6 months bank account Statement
    • Aadhar Card 
    • Driving License 
    • Passport
    • Utility bill
  • One recent passport-sized photographs
  • Proof of income statement:
    • Salaried Person (any 1)
      • Latest salary slip, (3 months) 
      • ITR
    • Self-employed person
      • Latest Income tax return. 
      • Proof of business
      • Recently audited financial report. 

Fee:

  • Joining Fee: ₹2499 + GST
  • Annual Fee: ₹2499 + GST

Benefits:

  • Welcome benefit:

If you choose this card you will get 10000 reward points. You have to make your first transaction within 3 months of the card issuance to claim this offer. 

You’ll get 7500 reward points every time you renew your card. 

  • Reward benefit:

For each ₹200 transactions made on Tour operators, travel agencies, and domestic airlines, you will get 16 reward points. You will also get 8 reward points for the same in other categories. 

If you register for Yes PayNow you will get 1000 reward points. 

You can redeem those reward points very easily you can redeem them against flights, movie tickets, or hotel bookings, and various products available in the reward catalog. You can also redeem them into Air Miles, (10 reward points = 1 air mile)

  • Lounge access:

If you choose this card you will get 4 complimentary accesses per year to most of the international lounges under the priority pass program. 

You also get 3 visits per quarter at over 25 domestic lounges. 

  • Movie benefit:

If you book your movie ticket from BookMyShow, you will get a 25% discount on it. 

  • Golf:

This card offers get 4 complimentary golf games per year and 1 complimentary golf lesson per month. You can use the benefits in the leading golf clubs of India. You have to call on 1800 102 6263 for bookings.

  • Fuel surcharge waiver:

If you choose this card you will get a 1% waiver on fuel surcharges. This offer applies to all fuel stations in India. The transaction amount should be between ₹400 to ₹5000.

  • Insurance coverage:

With this card, you will get ₹1 Cr coverage for air accidental deaths, and ₹25 lakh coverage for overseas hospitalization. 

This card also offers a credit shield for the accidental death of the cardholder.  

  • Concierge  and Automobile assistance Service:

With this card you will get a 24X7 active concierge service, they can assist you in car rental, hotel booking, reservation of travel, assistance during special events, table booking at restaurants, booking movie tickets, etc. 

You will also get an automobile assistance facility with this card.  

  • Lifestyle benefit:

You will get some awesome offers on travel, dining, wellness, shopping, and many more.

  • Secure IVR Transaction:

For IVR transactions you need an OTP. You have to send an SMS from your mobile number which is registered in the Bank. Type YESIVR<space>last 4 digits of the card number and send it to 9212738927.

  • EMI facility:

You can convert any transaction over ₹1500 into EMI, with this card. This feature is very helpful for the shoppers. 

  • Security:

This card has a built-in EMV chip, this chip is specially designed to add more security to your transactions. Also, this card comes with 3D security which makes it more secure. 

  • Other features:

There are also some other features in the card like Quick loan facility, Yes Paynow facility, Card Protection Plans, etc.  

  • Global Acceptance:

This card is globally accepted, you can use this card at any outlet or e-commerce site where the MasterCard Credit Cards are accepted.

Charges:

  • Finance Charge: 3.5% monthly and 3% for the cards issued against fixed deposit. 
  • Foreign currency transaction: 1.75% monthly. 

Contact Details:

Call: 18001031212

        022-4935-0000

Mail: [email protected]

100xGain Ratings:

5/10

Final Opinion:

As a low-cost premium credit card Yes First Preferred Credit Card is a very good option. The annual fee of the card is relatively lower than other regular premium cards. It offers complimentary domestic and international lounge access, golf benefit, fuel surcharge waiver, insurance coverage, etc. You can also earn reward points from this card. But if you want to spend more to get some extra benefits then you can go for Axis Bank Magnus Credit Card or RBL Bank Icon Card

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