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Federal BankYES FIRST Business Credit Card by the Yes bank has been designed to deliver the best privileges to businesses with tons of benefits. The YES bank has launched two business cards till now which are, YES FIRST Business Credit Card and YES PROSPERITY Business Credit Card. The card delivers exciting Reward Points for all business transactions and benefits in travel, fuel, and redemption options across various categories including Air Travel, Hotel Stays, accessories, and more. The First Business card offers tons of reward points on all categories as well as on select categories. Apart from that, the card provides great milestone benefits, a fuel surcharge waiver, and spend based fee waiver. The best part is that the Foreign Currency Markup on the card is 1.75% only. This is a very low rate as compared to other cards.
Also, the card offers great travel benefits like complimentary international lounge access with the Priority Pass Membership for Mastercard cardholders and LoungeKey Program for VISA Cardholders. Along with international access, the card also offers domestic lounge access for VISA cardholders. On top of that, 1 complimentary lesson is also offered with the First Business card. Refer to the followings details, to get a more thorough review of the card:
YES FIRST Business Credit Card
Fees
Joining Fee
Renewal Fee
Best Suited For
Travel | Shopping |
Reward Type
Reward Points
Welcome Benefits
Movie & Dining
NA
Rewards Rate
8 Reward Points per Rs. 200 you spend on all categories, 4 Reward Points per Rs. 200 spent on Select categories.
Reward Redemption
Reward points can be redeemed against Flight/Hotel/Movie bookings, against Air Miles (8 RPs = 1 InterMile or 1 CV Point), or an Exclusive Catalogue of Products.
Travel
Complimentary access to domestic and international lounges.
Golf
1 complimentary golf lesson per month and green fee waiver at select golf courses (Only for VISA Cardholders)
Domestic Lounge Access
2 complimentary access to Domestic Lounges quarterly (for VISA Cardholders).
International Lounge Access
6 complimentary access to international lounges.
Insurance Benefits
Insurance Cover up to Rs. 1 crore.
Zero Liability Protection
The cardholder will not be held liable for any unauthorized transaction done on the card once the card is reported lost or stolen to the bank.
Spend Based Waiver
Get joining fee waived on spending Rs. 60,000 in first ninety days and also get the annual fee waived on spending Rs. 3,00,000 in a year.
Rewards Redemption Fee
Rs. 100
Rewards Redemption Fee
Rs. 100
Foreign Currency Markup
1.75% on the international transaction.
Interest Rates
3.50% per month (42% p.a.)
Fuel Surcharge
1% fuel surcharge waiver on transactions between Rs. 400 to Rs. 5000. (capped at Rs 1,000 per month).
Cash Advance Charges
2.5% (subject to a minimum charge of Rs. 300)
Add-on Card Fee
Nil
- 20,000 Reward Points annually based on spends.
- 8 Reward Points per Rs. 200 spent on all categories
- 4 Reward Points per Rs. 200 spent on Select categories
- Complimentary access to international Lounges.
- Complimentary access to Domestic Lounges.
- Complimentary golf lessons.
- Insurance cover up to Rs. 1 Crore.
- Foreign currency markup fee of 1.75%.
- 1% Fuel surcharge waiver.
YES FIRST Business Credit Card Features and Benefits
YES FIRST Business Credit Card is an excellent tool for businesses to earn more out of every business transaction incurred through exciting reward points along with benefits in travel. Below are the detailed features associated with this card:
Milestone Benefits
Get 20,000 RPs on spending Rs. 12 Lakhs or more in a year with YES FIRST Business Credit Card.
Spend Based Waiver
On spending Rs. 60,000 within 90 days of card issuance, you can get the joining fee waived. Also, on spending Rs. 3,00,000 in a year, you can get the annual fee waived for the card.
Travel Benefits
VISA Cardholders:
- Get 6 complimentary access to International airport lounges under the LoungeKey Program. Note that you will be charged $27 for visiting the lounge beyond 6 visits and for every guest visit.
- Enjoy 2 complimentary access to Domestic Lounges quarterly with under the VISA Domestic Lounge Program.
MasterCard Cardholders:
- 6 Complimentary access to International Airport Lounges every year outside India with Priority Pass Membership. Note that you will be charged $27 for visiting beyond 6 visits and per guest visit.
VISA Golf Program
Get 1 complimentary golf lesson every month. Book your lesson by creating an account with Tea pass India.
Low Foreign Currency Markup
The foreign currency markup with YES FIRST Business Credit Card is 1.75% (plus taxes). This is very low as compared to other credit cards having a 3.5% charge.
Fuel Surcharge Waiver
1% fuel surcharge waiver on all fuel transactions between Rs. 400 & Rs. 5,000. The waiver is capped at Rs. 1,000 per month for the YES FIRST Business Credit Card.
Insurance Benefits
| Insurance Type | Cover |
| Air Accident Insurance | Rs. 1 Crore |
| Medical Emergency Insurance (Only on foreign travel) | Rs. 25 Lakh |
| Credit Shield | Rs. 8 Lakh |
Visit the Bank’s website to know more about the insurance benefits provided with the card.
YES FIRST Business Credit Card Rewards:
- 8 Reward Points per Rs. 200 you spend (apart from select categories).
- 4 Reward Points per Rs. 200 you spend on Select categories.
- 5X Reward Points on the first 3 transactions on YES PayNow.
Rewards Redemption
With YesRewards you redeem the points earned against:
- Flight, Hotel, or Movie ticket booking.
- Products Catalog
- Air Miles (10 RPs = 1 InterMile or 1 Club Vistara (CV) Point)
YES FIRST Business Credit Card Fees & Charges
- Annual Fee: The annual fee and the joining fee of the First Business card is Rs. 999 (plus applicable taxes).
- Interest Rate: The card charges 3.5% per month (42% annually) as the interest rate on the due amount.
- Cash Advance Fee: A cash withdrawal fee of 2.5% (subject to a minimum fee of Rs. 300) is applicable on cash withdrawals.
- Forex Mark-up Fee: The foreign currency mark-up fee on the card is 1.75% of the transaction amount.
YES Business Credit Card Eligibility Criteria
Following are the eligibility criteria for the Yes Bank Business credit card:
| Particular | Criteria |
| Age | 21 years – 65 years |
| Income | Self Employed, Proprietors and Partners of Partnership firms with an Income Tax Return of Rs. 10 Lakhs or more |
| Credit Score | Decent credit score (750 or above) |
Documents Required
Following are the documents that are required when applying for the YES First Business credit card:
- Identity Proof: Aadhar Card, PAN Card, Voter’s Id, Passport, Driving License, etc.
- Address Proof: Utility Bills, Ration Card, Aadhar Card, etc.
- Latest audited ITR, passport-sized photograph, business registration certificate, etc.
How To Apply For The YES First Business Credit Card?
To apply for the Business credit card by YES Bank, you can visit the bank’s branch and apply for the card by filling the application form. You can also apply for the card online with the steps given below:
- Go to the official website of YES Bank.
- Select ‘Business Banking.’
- Select ‘Cards.’
- Select the YES First Business Credit Card.
YES FIRST Business Credit Card Bill Payment
Following are some of the ways by which you can pay the credit card bills for the Business credit card by YES Bank:
For YES BANK Account Holders:
- Make payments with NetBanking by registering yourself for the same.
For All Customers:
- Make credit card bill payment via NEFT, IMPS, or RTGS mode from other bank accounts. You have to add your YES BANK Credit Card as a beneficiary. Use IFSC code: YESB0CMSNOC.
- Billdesk facility.
- By cheque, quote your 16-digit Credit Card Number and drop the cheque at any of Yes Bank’s drop boxes. Do mention your name as well as mobile number on the back of the cheque.
- Make payment through Cash at YES BANK Branches.
YES Bank Customer Care
Contact the bank with 24X7 YES TOUCH Customer Care:
- 1800 103 6000 (Toll-Free for Mobile & Landlines in India)
- +91 22 4935 0000 ( for calls from Outside India)
- Email at [email protected]
Conclusion
YES FIRST Business Credit Card rewards every business transaction except Fuel with great reward points so that you can do more with your card. Along with that, the card offers great ways to redeem the reward points earned. Like for your business travel, the card offers the ability to redeem the points against Airmiles to make the travel cost-friendly. On top of that, it offers complimentary access to domestic lounges as well to international lounges to make the travel luxurious.
Most importantly, the card charges a very low Foreign transaction fees of 1.75% on all global transactions. Drop your thoughts on the review of this card below in the comment section.
