The Yes Private Credit Card is a premium offering from Yes Bank, one of India’s leading private sector banks. Designed to cater to the discerning needs of affluent individuals, this credit card provides a range of exclusive benefits and privileges that elevate your financial experience. With its sleek design and personalized service, the Yes Private Credit Card is more than just a payment tool – it’s a symbol of your refined taste and sophisticated lifestyle.
Yes Bank Private Credit Card
Joining: 50,000 INR + tax
Renewal fee: 10,000 INR
Rewards: Up to 6 Reward points on every 100 INR spend.
Welcome Benefits: Welcome Cashback Offers
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Features of Yes Private Credit Card
- Exclusive Membership: The Yes Private Credit Card is a prestigious offering reserved for Yes Bank’s elite clientele, granting you access to a world of luxury and exclusivity.
- High Credit Limit: Enjoy a higher credit limit than conventional credit cards, allowing you to make larger purchases without constraints.
- Personalized Concierge Services: A dedicated concierge team is available 24/7 to assist you with all your travel, dining, and entertainment needs, ensuring a seamless and hassle-free experience.
- Exclusive Partner Offers: Gain access to a curated selection of exclusive offers and privileges from Yes Bank’s premium partners, ranging from luxury hotels to high-end retailers.
- Complimentary Airport Lounge Access: Enjoy complimentary access to premium airport lounges worldwide, providing a comfortable and relaxing environment during your travels.
- Global Acceptance: The Yes Private Credit Card is widely accepted across the globe, ensuring you can make purchases seamlessly, no matter where your adventures take you.
- Dedicated Personal Banker: Each cardholder is assigned a personal banker who understands their unique financial needs and provides personalized support and guidance.
Benefits of Yes Private Credit Card
- Rewarding Lifestyle: Earn valuable rewards points on every purchase, redeemable for a wide range of luxurious experiences, including travel, dining, and shopping.
- Comprehensive Travel Insurance: Enjoy peace of mind during your journeys with comprehensive travel insurance coverage, including protection for lost baggage, trip cancellations, and medical emergencies.
- Cashback and Discounts: Enjoy attractive cashback offers and discounts at premium establishments, such as luxury hotels, fine dining restaurants, and high-end retail stores.
- Priority Service: As a Yes Private Credit Card holder, you’ll receive priority service and support, ensuring your requests and concerns are addressed promptly.
- Exclusive Events and Experiences: Gain access to exclusive events, workshops, and experiences curated specifically for Yes Private Credit Card members, allowing you to indulge in unique and memorable moments.
- No Hidden Fees: Enjoy transparency with no hidden fees or charges, ensuring you have a clear understanding of your expenses.
- Worldwide Acceptance: The Yes Private Credit Card is widely accepted worldwide, providing you with the freedom and convenience to make purchases wherever your travels take you.
Other Yes Bank Credit Card offers in India
Fees of Yes Private Credit Card
- Annual Fee: Yes Bank charges an annual fee of Rs. 10,000 (plus applicable taxes) for the primary Yes Private Credit Card, and Rs. 5,000 (plus applicable taxes) for each add-on card. This fee reflects the exclusivity and premium privileges that come with this card.
- Cash Advance Fee: If you use your Yes Private Credit Card to withdraw cash, you’ll be charged a cash advance fee of 2.5% of the cash advance amount, subject to a minimum of Rs. 500.
- Late Payment Charges: Failing to make your credit card payment on time will result in late payment charges. These charges vary based on your outstanding balance: Rs. 100 for balances up to Rs. 500, Rs. 750 for balances between Rs. 500 and Rs. 20,000, and Rs. 950 for balances above Rs. 20,000.
- Over Limit Charges: If you exceed your credit limit, you’ll be charged an over-limit fee of 2.5% of the over-limit amount, subject to a minimum of Rs. 500.
- Cheque/ECS/ACH Bounce Charges: In case your cheque, electronic clearing service (ECS), or automated clearing house (ACH) payment bounces, you’ll be charged Rs. 500 per instance.
- Reward Redemption Fee: Depending on the reward you choose to redeem, you may be charged a redemption fee. The amount varies based on the reward being redeemed.
Charges of Yes Private Credit Card
- Interest Charges: The Yes Private Credit Card carries an interest rate of 3.49% per month (41.88% annualized) on both retail purchases and cash advances. It’s crucial to pay your outstanding balances in full each month to avoid accumulating high interest charges.
- Foreign Currency Markup: When you make an international transaction or a transaction in a foreign currency, a markup of 3.5% will be applied to the transaction amount.
Rewards and Cashback of Yes Private Credit Card
Rewards:
- Welcome Bonus: As a new Yes Private Credit Card holder, you can earn a lucrative welcome bonus of reward points upon meeting a minimum spending requirement within the first few months of card issuance. These bonus points can be redeemed for a wide range of rewards, including travel, shopping, and more.
- Accelerated Earning: The Yes Private Credit Card rewards you with accelerated earning on various categories of purchases. For instance, you may earn higher reward points for spends on travel, dining, and entertainment, allowing you to rack up points faster for your favorite indulgences.
- Tier-Based Rewards: Yes Bank offers a tier-based rewards program, where higher spends can unlock elevated tiers, granting you access to exclusive rewards, privileges, and personalized experiences tailored to your preferences.
- Redemption Flexibility: With a vast catalogue of rewards to choose from, you can redeem your hard-earned points for a variety of options, including flight tickets, hotel stays, merchandise, gift cards, and even charitable donations, ensuring you can find rewards that align with your lifestyle and interests.
- Anniversary Bonus: To celebrate your continued loyalty, Yes Bank may offer an anniversary bonus of reward points on your card’s annual renewal, providing you with an additional incentive to keep using your Yes Private Credit Card.
Cashback:
- Quarterly Cashback: Enjoy quarterly cashback on your spends with the Yes Private Credit Card. The cashback percentage may vary based on your spending categories and could be higher for preferred merchants or specific purchase categories.
- Merchant-Specific Offers: Yes Bank partners with various merchants, offering exclusive cashback deals and discounts to Yes Private Credit Card holders. These offers can range from cashback on dining, shopping, travel, and more, ensuring you can maximize your savings.
- Online Cashback: In addition to in-store purchases, you can also earn cashback on online transactions made using your Yes Private Credit Card, allowing you to save while shopping from the comfort of your home.
- Cashback Redemption: The cashback earned on your Yes Private Credit Card can be redeemed in various ways, such as statement credits, account transfers, or even converting it into reward points for more redemption options.
- Cashback Accelerators: Yes Bank may offer periodic cashback accelerators or bonus cashback promotions, enabling you to earn even higher cashback percentages during specific periods or on select purchases.
Redemption of yes Private Credit Card Points
Rewards :
Yes Bank’s Private Credit Card offers a rewarding experience for its cardholders. With this card, you can earn attractive rewards on various categories of spends. Here’s how you can redeem the rewards:
- Reward Points Accumulation: Every time you make a qualifying purchase using your Yes Private Credit Card, you earn reward points. The number of points earned depends on the category of purchase and the applicable reward rate.
- Logging in to Rewards Portal: To redeem your rewards, you’ll need to log in to the Yes Bank Rewards Portal. This can be accessed through the bank’s website or mobile app.
- Redemption Options: Once you’re in the Rewards Portal, you’ll have a range of redemption options to choose from. These may include:
- Vouchers and Gift Cards: Redeem your points for vouchers or gift cards from popular brands and retailers.
- Cash Back: You can opt to redeem your points for cash back, which will be credited to your Yes Bank account.
- Merchandise: Browse through a selection of merchandise, including electronics, home appliances, and more, and redeem your points to purchase them.
- Travel: Use your points to book flights, hotels, or other travel-related services through the Rewards Portal.
- Redemption Process: Select the desired redemption option, enter the required number of points, and follow the on-screen instructions to complete the redemption process.
- Reward Expiration: It’s essential to note that reward points may have an expiration date, so it’s advisable to redeem them before they expire to avoid losing their value.
Cashback:
In addition to rewards, the Yes Private Credit Card also offers cashback on certain purchases. Here’s how you can redeem the cashback:
- Cashback Accrual: Every time you make a qualifying purchase using your Yes Private Credit Card, you earn cashback based on the applicable cashback rate for that category of purchase.
- Cashback Tracking: You can track your accumulated cashback through the Yes Bank mobile app or by logging in to your online banking account.
- Cashback Redemption: The cashback earned will be automatically credited to your Yes Bank account on a pre-determined cycle (e.g., monthly or quarterly).
- Cashback Statement: Your cashback earnings will be reflected in your credit card statement, making it easy for you to monitor and keep track of your cashback rewards.
Eligibilty for Applying Yes Private Credit Card
To apply for the Yes Bank Private Credit Card, you need to meet certain eligibility criteria. These criteria are set by the bank to ensure that the credit card is issued to individuals who have the financial capacity to make timely payments and manage their credit responsibly. Here are the typical eligibility requirements:
- Age: You must be at least 21 years old to apply for the Yes Bank Private Credit Card. This age requirement ensures that you are legally an adult and capable of entering into a contractual agreement with the bank.
- Residential Status: The Yes Bank Private Credit Card is available to Indian residents, including salaried individuals, self-employed professionals, and business owners. You will need to provide proof of your residential status, such as a valid address proof document.
- Income: Yes Bank has a minimum income requirement for the Private Credit Card. This income threshold may vary depending on your profession, location, and the type of credit card you are applying for. Generally, you must have a substantial income to demonstrate your ability to repay the outstanding balances and manage credit card expenses responsibly.
- Credit History: Yes Bank will consider your credit history and credit score when evaluating your application. A good credit score and a clean credit history increase your chances of approval. If you have a poor credit history or have defaulted on previous credit obligations, your application may be rejected or subject to additional scrutiny.
- Employment Status: Salaried individuals typically need to provide proof of employment, such as salary slips or a letter from their employer confirming their employment status and income. Self-employed individuals and business owners may need to provide additional documentation, such as income tax returns or business registration documents, to validate their income sources.
- Existing Relationships: If you already have an existing relationship with Yes Bank, such as a savings or current account, your application may receive preferential treatment. Banks often prioritize existing customers for credit card approvals.
Documents Required for Yes Private Credit Card
To apply for the Yes Bank Private Credit Card, you’ll need to submit a few documents to verify your identity and creditworthiness. The required documents may vary depending on your employment status or income source, but generally, you’ll need to provide the following:
- Identity Proof: A copy of your Aadhaar card, PAN card, passport, or voter’s ID card will be required as proof of identity.
- Address Proof: You’ll need to submit a recent utility bill (electricity, gas, or telephone) or a bank statement bearing your current residential address as proof of residence.
- Income Proof: Depending on your employment status, you’ll need to provide one of the following documents as proof of income:
- For Salaried Individuals: Your latest salary slip (not older than 3 months) along with Form 16 or the latest Income Tax Return (ITR) filed.
- For Self-Employed Individuals: Your latest Income Tax Return (ITR) along with computation of income and balance sheet and profit & loss account statements for the last 2 years.
- Photograph: A recent passport-sized color photograph is usually required.
- Signature Specimen: You may be asked to provide a specimen of your signature for verification purposes.
How to apply for Yes Private Credit Card?
Applying for the Yes Private Credit Card is a straightforward process that can be completed either online or by visiting a Yes Bank branch.
Online Application:
- Visit the official website of Yes Bank (www.yesbank.in) and navigate to the credit card section.
- Click on the “Apply Now” or “Apply Online” button for the Yes Private Credit Card.
- Fill out the online application form with your personal details, such as name, date of birth, contact information, and employment details.
- Provide the required documents for identity proof, address proof, and income proof. You can either upload the scanned copies or choose to submit the physical copies at a later stage.
- Review the information you’ve provided and submit the application form.
- Once submitted, you’ll receive an acknowledgment with a reference number for tracking the status of your application.
Offline Application:
- Locate the nearest Yes Bank branch in your area.
- Visit the branch and request an application form for the Yes Private Credit Card.
- Fill out the application form accurately with your personal and financial details.
- Attach the required documents for identity proof, address proof, and income proof.
- Submit the completed application form and documents to the bank representative.
- The bank representative will guide you through the next steps and provide you with a reference number for tracking the status of your application.
Regardless of whether you apply online or offline, the bank will verify the information and documents you’ve provided. If everything is in order, they’ll proceed with the credit evaluation process. Once approved, you’ll receive your brand new Yes Private Credit Card within a few working days.