Today the banks, their credit cards have reached a saturated position. Because today is the day of competition. Who will give fewer features, services, benefits cannot hold a position in the market? So, all of the banks provide their best to compete so that we are confused to decide what to take. But by saying that, I am not saying that all features are perfectly the same. The types of features are the same; the difference lies in the amount. So, if you are puzzled with the premium cards, you may check ‘Hands-on experience with Yes bank Yes First exclusive credit card’ – the decision is yours, guides and review are ours!
In this article
I am sure that you will be amazed to see the features. It is not lag behind others in terms of features and benefits. So, there is no reason for underestimating this card.
- Rewards are good enough, in my opinion, because you will get rewards on everything – renewal card, travelling, flight booking, movie booking, dining, and other expenses made through this card.
- You can enjoy golf round.
We are discussing a premium card’s review – so it makes sense that rewards will be vast. But we need to see whether it can fulfil our demands or not.
You can convert reward points into air miles and club Vistara points. The rate of conversion is 10 reward points stands for 1 Intermile or 1 Club Vistara point. You can redeem them and use them anywhere, which are partners.
Features And Benefits
If you are familiar with this type of card, then the facilities and benefits may seem to be similar to you. Let’s see what those are:
- Get rewards on almost everything: You can earn reward points on welcome gifts, registration, dining, and so on. And the amount of reward is quite good. Even you can earn rewards on every expense value.
- Enjoy golf rounds: You can enjoy 4 complimentary golf rounds per year at selected golf courses. Not only that, but you can also take golf lessons per year at selected golf courses in India. You can book the golf lesson by contacting over 1800 102 6263.
- Priority pass and lounge access: You will get priority pass membership by which you can enjoy unlimited visits outside India. This facility is available for both primary and add–on the cardholder. Also, you can get lounge access at 25+ lounges across India. Again, this facility is available for primary cardholders. You can get complimentary international lounge access if you are a primary or add-on cardholder.
- Enough coverage amount: You can get a solid amount of insurance coverage for the following cases-
- You can claim up to 3 crore rupees for death due to a flight accident.
- While travelling overseas, you can get up to Rs 50 lakh as medical insurance in emergency hospitalization.
- If the primary cardholder dies in an accident, your family members will get the credit shield cover.
- Concierge service is on your phone: Like any other premium card, this card also offers easy concierge service. But the difference is in the attributes of the concierge service. Seriously, there are many services like – Car reservations, Hotel reservations, Travel, Special event book, restaurant booking, table reservation and much more. Just contact them over the phone by dialling 1800 11 9371 or 022 42320239.
- Change your lifestyle: Enjoy great offers in various fields like – dining, travelling, shopping, wellness, and much more in selected cities in India.
- Go contactless: The Yes first exclusive credit card supports the contactless payment option. It comes with NFC technology. The transaction is fast, convenient, and, of course, secured!
- Security is the highest priority: You need not be worried about security because your online transaction is secured with MasterCard Secure code which works on the OTP system.
Who Should Opt For This Card?
The net income constraint in the eligibility criteria makes it clear that this card is for the ‘fancy’ users. [Eligibility criteria are discussed in point 4] People who love to travel, shop, and enjoy golf rounds – the card suits them. Saving is not at all a thing of concern to them. Rather they love to spend money for enjoying their life. A luxurious lifestyle is their motto. Daily usage patterns are completely different from other people. They should be the main users of this card. Rewards attract them much, and they don’t hesitate to follow the transaction or any other goals to avail the rewards. Of course, not all rich people need to apply for this card!
The credit card is exclusively for premium users. If you are a member of the group of those who have a net income excellent, you may apply for this card. You have to be that. Otherwise, you will be struck at the constraint of eligibility criteria. There is no question of common people applying for this card.
As I mentioned, the charges are not too much because all premium-type credit cards usually charge like this. From this point of view, it is not right to say that the charges are high.
Why This Credit Card Is Better Than Other Cards?
Similar cards are available which also offer almost the same features. But differences should be there! Those are discussed below:
Eligibility Criteria And Documents Required
Of course, the eligibility criteria are full of constraints, but these are logical for a premium card. Let’s see what those are:
- You should have a source of income.
- Your monthly income should be Rs 4 lakhs in a month or above. And in the case of a self–employee, your annual income should be a minimum of Rs 50 lakhs.
- You have to be in between 21 and 60 years of age.
The list of required documents is given below:
- Identity proof- you can choose any of the following- PAN card, AADHAR card, Voter Id slip as proof.
- Address/residence proof- An address proof is also required. You can choose any of the following-ration cards, electric bill, water bill, telephone exchange bill, bill of new gas connection, or anything.
- Income proof – This is the most important document you have to show. You can show the Latest pay slip of three months, Form 16, or anything as income proof.
How To Apply For This Card?
The online process is quite simple and easy to understand. Just follow some steps listed below:
- Go to the official website www.yesbank.in. At the bottom of the page, you will find the option of applying with a button named “APPLY NOW”. Click on that. You will find some questions are asking for details. Fill very carefully.
- In the second step, you have to fill in some other fields – mobile number, PAN number, pin code, Net annual income, and so on. Keep all the documents ready in your hand to avoid an error.
- Fill the forms very carefully. And also, read all the disclaimer terms and conditions before applying.
I am not describing all the points for applying for the card. It is a pretty simple process. Fill in the form and enter the next form by clicking on the “next” button. Remember- forms will be rejected in case of any false information.
Cards like HDFC Infinia, Lifestyle HC SBI prime are the head–to–head competitors of this card.
1. Can the annual fee be waived off?
Of course, you can waive off the annual fee but by meeting the transaction goal. That is, you have to make a total expense of Rs 6 lakhs.
2. How can I convert the purchase into EMI schemes?
You can convert any purchase value over Rs 2500 into EMI options. But you have to do a little task! Just log into your account and make any transaction of Rs 2500.
3. What is the grace limit period?
Generally, the grace period is 20 – 50 days.
4. What is the credit limit?
It depends on income, age, credit score, the certainty of your employment, and so on. Considering these situations, the bank will decide the credit limit.
5. Is any contactless facility available?
Yes, of course. It is a premium credit card. So, it is quite obvious that a contactless facility will be supported.
The time has come for taking the boldest decision – whether you should apply for this card or not. I am indicating to the fancy, rich people for taking this decision. My suggestion is, of course! Here I am talking to only those ‘fancy’ persons. See, you want a credit card for all-in-one purposes. You want a premium card that offers premium features. But the Yes Bank yes credit card offers more benefits like golf rounds, good insurance coverage than others. Being a premium card, it enables many luxurious features for you. Considering all the aspects, my vote will always go for Yes Bank’s yes first exclusive credit card.