YES Bank Launches New Lifetime Free ‘YES Essence Credit Card’ for Women

YES Bank has launched the all-new YES Essence Credit Card, specially designed for women and focused on lifestyle, shopping, travel, and wellness benefits. The card offers a decent rewards structure along with milestone and lifestyle privileges. It comes with a joining and annual fee of ₹799, both of which can be waived on meeting the required spending criteria.

However, the card is currently being offered as a limited-period lifetime free card, making it an attractive option for eligible users looking for a feature-packed entry-level lifestyle credit card.

This card includes many of the key benefits that users generally look for in a lifestyle credit card. Cardholders can get 1 complimentary domestic airport lounge visit every quarter by spending ₹25,000 or more in the previous quarter. There are even golfing benefits, free movie tickets, and more with this card. Let’s have a look at the benefits of this card.

Reward Earnings

In terms of rewards, the card offers:

• 12 YES Rewardz Points per ₹200 spent online on fashion, beauty, travel, dining, and grocery categories
• 8 YES Rewardz Points per ₹200 spent on other online purchases
• 4 YES Rewardz Points per ₹200 spent on offline transactions

YES Rewardz Points will not be earned on transactions related to rent payments, wallet loads, fuel spends, government services, marketing and advertising payments, insurance premiums, educational services, cash withdrawals, post-purchase EMI conversions, instant EMI transactions, and card-related fees or charges.

Welcome & Milestone Rewards

• Cardholders can choose any 2 welcome vouchers worth ₹500 each from a curated list based on their lifestyle preferences.
• Users can receive a ₹1,000 Myntra voucher along with a complimentary women-centric health check-up during their birthday month.
• Earn up to 5,000 YES Rewardz Points on spends of ₹50,000 within the first 90 days and up to 10,000 YES Rewardz Points on annual spends of ₹1 lakh.

Lifestyle Benefits

• Cardholders can enjoy 4 complimentary green fee waivers every year, along with 12 complimentary golf lessons. A useful benefit for both regular golfers and beginners looking to learn the sport.
• Cardholders can enjoy a complimentary Amazon Prime subscription and 3 months of Sony LIV access, providing entertainment benefits worth up to ₹4,500 annually.
• The card offers a Buy One Get One movie ticket benefit on bookings made through District once every calendar month. Cardholders can get a maximum discount of up to ₹250 on the second movie ticket, and the offer is applicable only on movie ticket bookings.
• Users can avail Buy One Get One offers on coffee purchases at participating mall outlets across India twice every quarter.

Other Features

• The card comes with a relatively low forex markup fee of 2.75%, making it suitable for international spends and travel-related transactions.
• The card offers a 1% fuel surcharge waiver on fuel transactions between ₹400 and ₹5,000 across fuel stations in India.
• The card also comes with purchase protection insurance coverage of up to ₹50,000 against accidental damage or theft of eligible purchases.

Bottom Line

The YES Essence Credit Card looks surprisingly value-packed at first glance, offering a wide range of lifestyle, travel, movie, and dining benefits at a joining and annual fee of just ₹799 + GST. Designed especially for women, the card manages to offer a strong set of features at an affordable price point and could emerge as a solid competitor to cards like the BOBCARD Tiara Credit Card.

From complimentary airport lounge access and Buy One Get One movie ticket offers to coffee benefits at select malls, the card covers most of the lifestyle perks that users generally look for in an entry-level lifestyle credit card.

A detailed review of the YES Essence Credit Card, including reward rate calculations, value analysis, and comparisons with competing cards, shall follow soon.