By Rajat Gaur
Updated On September 21, 2021

The First Exclusive credit card is a high-end offering by Yes bank. It is in direct competition with HDFC’s Infinia credit card. At 1.99% p.m., the first exclusive card has one of the lowest interest rates in the Indian market. The only credit card with a lower interest rate that comes to mind is Axis Bank’s Burgundy Private credit card with a finance charge rate of 1.5% p.m, but it has a very high annual fee of Rs. 50,000. Apart from a lower interest rate, what makes this card such a lucrative offering in the premium segment is one of the lowest foreign currency markups by industry standards (1.75%). But that’s not it, since it is a premium card, you also get many other benefits like 24×7 concierge service, complimentary rounds of golf, Priority Pass membership and movie ticket bookings at a discounted rate. Read on to know more.

Best Suited For

Travel | Shopping |

Joining Fee

Rs. 9,999 (plus applicable taxes)

Reward Type

Reward Points |

Product Details

  • 40,000 Reward Points on the first transaction done within 90 days of card issuance.
  • 30,000 Reward Points each time the card membership is renewed.
  • Milestone benefits like 25,000 bonus Reward Points.
  • 12 Reward Points for every Rs. 200 spent on all transactions except for transactions under the Select category (details of the Select category described later).
  • 6 Reward Points for every Rs. 200 spent on all transactions under the Select category.
  • 1,000 Reward Points on each Yes PayNow registration.
  • 24×7 concierge service.
  • Complimentary rounds of golf under the MasterCardWorld Golf program.
  • Movie tickets at discounted rates on BookMyShow.
  • 3 complimentary domestic airport lounge access per quarter.
  • Unlimited complimentary lounge visits outside India with Priority Pass membership.
  • Low APR (1.99% p.m.) and low foreign currency markup (1.75%).
  • Life insurance cover worth Rs. 3 crore in case of death due to air accident.

Rewards and Benefits

Welcome Benefits

40,000 Reward Points on first transaction done within 90 days of card set up date.

Movie & Dining

25% discount of movie tickets booked on BookMyShow (with a cap of Rs. 250 per month) and dining offers in select cities on the Yes Privilages portal.

Rewards Rate

6 Reward Points for every Rs. 200 spent on Select category, 12 Reward Points for every Rs. 200 spent on all purchases except from the Select category and 1000 Reward Points on each Yes PayNow registration.

Reward Redemption

Reward Points redeemable on the YesRewardz portal for flight/hotel/movie tickets booking and for purchases from the bank’s exclusive catalogue of products. Reward Points can also be redeemed against AirMIles (10 Reward Points = 1 InterMile / 1 Club Vistara Point).

Travel

3 complimentary domestic lounge access per quarter at select airports across India, unlimited international lounge access (outside India) with Priority Pass membership and travel offers on the Yes Privileges portal.

Golf

4 complimentary rounds of golf with green fee waived and 1 complimentary golf lesson per year at select golf courses across India under the MasterCardWorld Golf program.

Domestic Lounge Access

12 domestic lounge access per year (3 per quarter) at select airports across India under the MasterCard Lounge program.

International Lounge Access

Unlimited complimentary lounge access outside India with Priority Pass membership.

Insurance Benefits

Life insurance cover worth Rs. 3 crore in case of loss of life due to an air accident, medial insurance worth Rs. 50 lakh in case of emergency overseas hospitalization and a Credit Shield cover (up to Rs. 10 lakh) against outstanding card dues in the unfortunate event of death of the primary cardholder.

Zero Liability Protection

In the event of loss of card, cardholder not liable for any fraudulent transaction post the time of reporting the loss to Yes Bank’s customer care.

Fees & Charges

Joining Fee

Rs. 9,999 (plus applicable taxes)

Renewal Fee

Rs. 9,999 (plus applicable taxes)

Spend based Waiver

Renewal fee waived if Rs. 6 lakh were spent in the previous year.

Rewards Redemption Fee

Nil

Rewards Redemption Fee

Nil

Foreign Currency Markup

1.75% (plus applicable taxes)

Interest Rates

1.99% per month (23.88% annually)

Fuel Surcharge

Fuel surcharge waived at all fuel stations across India for transactions between Rs. 400 and Rs. 5000 (waiver capped at Rs. 1000 per month).

Cash Advance Charge

2.5% (subject to a minimum charge of Rs.300)

Add-on Card Fee

Nil

Yes Bank First Exclusive Credit Card Welcome Benefits:

As a welcome gift, Yes Bank gives you 40,000 reward points on the first transaction made within 3 months of issuance of the card. You get 30,000 points every year the membership is renewed, provided that the membership renewal fee is paid (and not waived off).

Yes Bank First Exclusive Credit Card Rewards:

As it is a Reward Points based credit card, you get Reward Points on transactions made with the card. You get:

  • 12 Reward Points for every Rs. 200 for all spends except on the Select category.
  • 6 Reward Points for every Rs. 200 for all spends on the Select category.
  • 1000 Reward Points on each Yes PayNow registration.
  • Select category transactions include transportation fares (bus tickets/ taxicab fare, etc), utility bill payments, grocery purchases, insurance premium payments, school/college fees payments, tax and toll payments and a few other miscellaneous transactions.
  • Yes Bank Reward Points are valid for a period of 3 years from the date of accumulation.

Rewards Redemption:

Yes Bank Reward Points can be redeemed for:

  • Purchasing exclusive products and gift vouchers and for booking flight/hotels/movie tickets on the Yes Rewardz portal or by dialing the dedicated Yes Rewardz desk number, 1800 419 0600.
  • AirMiles at select partner airlines (10 Reward Points = 1 InterMile / 1 Club Vistara Point).

Yes Bank First Exclusive Card Milestone Benefits:

You get bonus 25,000 Reward Points on expenditure of Rs. 20,00,000 or more in an anniversary year.

Yes Bank First Exclusive Credit Card Travel Benefits:

Travel benefits with this credit card include:

  • Travel offers on the Yes Privileges portal.
  • 12 domestic lounge access (3 per quarter) at select airports across India under MasterCard lounge program.
  • Priority Pass membership with unlimited complimentary lounge access outside India for primary as well as add-on cardholders.
  • Reward Points transferable to partner airlines’ AirMiles.

Yes Bank First Exclusive Credit Card Dining and Movie Benefits:

You get dining offers on the Yes Privileges portal and for movies, Yes bank offers you a 25% discount on all movie tickets booked on BookMyShow website or app (with maximum discount capped at Rs. 250/month).

Yes Bank First Exclusive Credit Card Insurance Benefits:

You get the following insurance benefits with the First Exclusive card:

  • A life cover worth Rs. 3 crore. In the unfortunate event of death of the primary cardholder in an air accident, the nominated kin will get a sum of Rs. 3 crore.
  • A medical emergency insurance worth Rs. 50 lakh, in case of emergency hospitalization of the primary cardholder on an international trip.
  • A Credit Shield cover worth Rs. 10 lakh against the card’s balance amount in case of accidental death of the primary cardholder.
  • All these insurance benefits are applicable only for the primary cardholder. Add-on cardholders do not get insurance benefits.

Less Finance Charge and Foreign Currency Markup:

  • As it is a premium credit card, Yes Bank offers one of the lowest interest rates by industry standards: 1.99 % p.m. (or 23.88% annually).
  • At 1.75%, the foreign currency markup for this credit is also one of the lowest in the market.

Fuel Surcharge:

Convenience fee on transactions (between Rs. 400 and Rs. 5,000) is waived at all refill stations across India (the maximum waived amount capped at Rs. 1,000 per month).

Yes Bank First Exclusive Credit Card Eligibility:

Criteria Salaried Employees Self-Employed Individuals
Age 21-60 Years 21-60 years
Income Minimum Rs. 4,00,000 per month Minimum Rs. 36,00,000 per annum (as per ITR)

How to apply for Yes Bank First Exclusive Credit Card:

If you have a Yes Bank account with netbanking facility enabled, you can easily apply for the credit card online or via phone banking. Otherwise, you’ll have to visit your nearest Yes Bank branch with the required documents. You will need an identity proof, an address proof and a passport size photo of yours along with a proof of income such as salary slip(s) in case of salaried employees and ITR documents for self-employed applicants.

Customer Care:

In case of loss of card, you may get your card blocked:

  • by sending an SMS: BLKCC   to 9840909000 from your registered mobile number.
  • through Yes Bank Netbanking.
  • using Mobile Banking.
  • using the YesPay app.
  • using Phone Banking; call center numbers: 18001031212 (toll-free) or +91 22 49350000 (when calling from outside India).

For any other queries/assistance, you can either dial their phone banking number or alternatively, you can also submit your queries/complaint/feedback by filling a form on the bank’s official website. For some reason, if any of your grievances still remain unaddressed, you may contact the Yes Bank’s grievance redressal officer by dropping a mail at [email protected].

Conclusion:

Considering all the benefits and rewards, we can safely conclude that Yes bank’s First Exclusive credit card is one of the best offerings in the premium segment, particularly because of its low APR and foreign currency markup (which are lower than its competitors like the HDFC Infinia card). Also, if you’re a frequent international flyer, this card is worth considering, as you get unlimited international lounge access at airport lounges outside India with the Priority Pass program. We think this card can be a good pick for high-net-worth individuals. Do let us know your opinion of this card in the comments section.

FAQs:

The reward points earned are valid for 3 years from the date of accumulation and expire thereafter.

You get unlimited lounge access on airports outside India with the Priority Pass membership. For airports within India, you have to pay USD 27 per visit per guest for lounge access under the Priority Pass program. However, you get 12 domestic lounge access every year (3 per quarter) with the MasterCard World lounge program.

You get 30,000 bonus Reward Points second year onwards, provided that the membership renewal fee is not waived off (i.e. you did not spend more that Rs. 8 lakh in the previous year).

Yes, you are not liable for any fraudulent transaction made using your card, post the time of reporting the loss of card. However, for any transaction before you have reported the loss of card to the bank’s customer care, the liability of all the transactions made using your card lies solely with you.

Yes Rewardz is Yes Bank’s reward redemption portal where you can redeem your reward points for exclusive products, shopping vouchers and hotel/fllights/movie tickets bookings.

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