Have you ever wanted to go shopping like there’s no tomorrow? Well, there are many credit cards that can make your shopping and travel experience smoother. Well, there are many credit cards that can make your shopping and travel experience smoother. YES Bank offers many such credit cards. The good news is that you can redeem the reward points from credit card usage online or offline, depending on your preference. Continue reading to learn how to redeem YES bank credit card reward points and other information.
Let’s get to know Yes First preferred credit card a bit
The YES First Preferred Credit Card offers significant rewards and benefits such as, special lounge access, and much more. YES bank credit card reward points can be redeemed for a variety of products, services, or experiences ranging from movie tickets to air tickets to even hotel reservations. In addition, you will receive complimentary priority pass membership to airport lounges both internationally and in India.
Key Features of the YES First Preferred Credit Card
- Interest rate: On revolving credit, the interest rate is 3.50% per month.
- Medical Insurance: When travelling abroad, obtain Rs.25 lakh in medical insurance for emergency hospitalization.
- Credit Shield: Get a credit shield in the event of the primary cardholder’s accidental death.
- Concierge Services: Get 24×7 concierge assistance with hotel reservations, flight bookings, restaurant recommendations, movie ticket assistance, and flower and gift delivery.
- Joining and Renewal Bonuses: Make the first transaction within 90 days of card issuance and receive 10,000 bonus reward points. On each renewal, you will receive an additional 7,500 reward points.
- Milestone Benefits: If your annual spending exceeds Rs.7.5 lakh, you will receive 20,000 reward points every anniversary year.
- Renewal Fee Waiver: Spend Rs. 2.5 lakhs in a year and receive a waiver on the subsequent year’s renewal membership fee.
- Fuel Surcharge: Fuel surcharges are waived at all fuel stations in India for transactions ranging from Rs.400 to Rs.5,000.
- Reward Points: Convert your reward points into Intermiles or Club Vistara Points (10 points equals 1 Intermile/CV Point). For every Rs.200 spent across all categories earns you 8 reward points (except select categories). And every Rs.200 spent on select categories earns you 4 reward points.
- Golf Privilege: One can avail of four complimentary rounds of golf at select golf courses in India per calendar year. Every calendar month, select golf courses in India provide one complimentary golf lesson.
- Multiple Redemption Options: YES Bank provides several options for redeeming reward points.
Should You Apply for This Credit Card?
If you want a credit card with benefits in multiple categories and an annual fee as low as Rs. 999, the YES First Preferred Credit Card is a good option. The best part about this card is that you can earn 20,000 bonus reward points when you spend Rs. 7.5 lakh or more in each anniversary year. In addition, you will have access to lounges in India and abroad, golf sessions, insurance benefits of up to Rs. 1 crore for flight accident cover, and much more.
YES First Preferred Credit Card Eligibility Criteria
To be eligible for a YES First Preferred Credit Card, you must meet the following requirements:
- Must be at least 21 years old.
- You should not be older than 60.
- Your net monthly salary should be at least Rs.2 lakh.
- If you are self-employed, your income tax return should be worth at least Rs.24 lakh.
- Alternatively, you must have a fixed deposit of Rs.3 lakh or more with YES Bank
Application Process of YES First Preferred credit card
- Go to yesbank.in and select ‘apply for credit card’ from the ‘how may I assist you’ section.
- Under ‘lifetime free credit card,’ look for ‘YES First Preferred credit card,’ then click ‘apply now’.
- A credit card application form will appear, which you must complete with your basic information.
- Following OTP confirmation of your mobile number, you will be prompted to select your credit card and proceed to fill out all of your information in detail.
- The bank will then verify your credit card application and either approve or reject it.
- You can also track your credit card application online or contact customer service if you have any further questions.
Documents to Submit
- ID card (Aadhaar card, PAN card, driving license, voting card, ration card, passport)
- Address verification (includes documents like passport, electricity bill, gas bill, telephone bill, and ration card)
- Salary employees must provide proof of income in the form of recent pay stubs and a 6-month bank statement.
- Income proof for self-employed individuals includes recent income tax returns, a balance sheet, and an audited profit and loss statement.
- Coloured passport photographs
How to Redeem Yes Bank Rewardz Points?
The bank has a rewards portal, YES Rewardz, where you can redeem YES bank credit card reward points easily and across multiple categories.
To redeem your reward points online, follow the steps outlined below:
Step 1: Go to the official YES Bank rewards portal, YES Rewardz.
Step 2: Select your credit card from the available options.
Step 3: Choose your preferred category from a list of options that includes catalogues, e-gift vouchers, flight bookings, bill payments, recharge, and more.
Step 4: Select an option from the selected category that best suits your needs.
Step 5: Fill out the form with the requested information and click the ‘Confirm’ button.
Step 6: Once confirmed, your transaction will be processed and you will be notified via text message.
What You Should Know
- YES bank credit card reward points are valid for three years from the date of accrual. If you want to benefit from them, you must redeem them within the time frame specified.
- When you redeem your reward points for gift vouchers/products, you will be charged a fee of Rs. 100 + GST. This fee is assessed for each redemption request.
YES Bank provides a variety of credit cards, ranging from super-premium to basic and entry-level. Earning reward points with your credit card is great, but a cardholder should also understand how to get the most out of these points by redeeming them at the right time and for the right value. YES Bank has a separate portal for redemption, the YES Rewardz Portal, where a cardholder can redeem the earned reward points in a variety of ways. The monetary value of these reward points varies from category to category, as well as from card to card. As a result, before initiating credit card reward redemption, the cardholder should conduct thorough research. Cardholders should also be aware that the reward points have an expiry date and that there is a fee for redeeming their credit card reward points.