By Bharti Bisht
Updated On September 20, 2022

YES First Preferred credit card is a premium card having premier reward point offers and several other exciting benefits. You can save up to thousands of reward points whenever you make a purchase or pay the annual fee. Not only this, but the card also offers complimentary benefits in travel including domestic as well as international travel lounge access. Get 4 reward points every time you spend Rs. 200 on tax payments, utilities, groceries, etc, and 8 reward points on any other retail purchases. Although the YES First Preferred credit card is a good fit for people who love to save money by earning more and more reward points, it can also be a great choice for people who love traveling. It is because you get 2 domestic lounge access every quarter and 4 exclusive complimentary international lounge access every year. One of its greatest key features is that you get 10,000 reward points on your first transaction if it is done within the first 90 days once you receive the card.

(4.3/5)

Best Suited For

Shopping |

Joining Fee

Rs. 999 (plus applicable taxes)

Reward Type

Reward Points |

Product Details

  • 2 complimentary access to domestic lounges every quarter and 4 complimentary access to international lounges in a year.
  • 4 reward points per Rs. 200 spent on utilities, groceries, tax payments, insurance sales, etc, and 8 reward points per Rs. 200 you spent on every other retail purchase.
  • Foreign markup fee of 1.75%
  • The renewal fee can be waived off if you spend over Rs. 4 lakhs in the preceding year.

Rewards and Benefits

Welcome Benefits

N/A

Movie & Dining

25% discount on movie booking through BookMyShow.

Rewards Rate

Up to 16 reward points per Rs. 200 spent

Reward Redemption

1 Reward Point = Re. 0.25 for redemption against hotel/flight bookings, and 1 Reward Point = Re. 0.10 for redemption against gift vouchers, product catalogue, etc.

Travel

4 exclusive complimentary international lounge access per year and 2 domestic lounge access per calendar quarter.

Golf

4 complimentary green fee rounds annually.

Domestic Lounge Access

2 domestic lounge visits per quarter via the MasterCard lounge program.

International Lounge Access

You get 4 complimentary international lounge access every year through the priority pass.

Insurance Benefits

Life insurance of up to Rs. 1 crore in the case of death due to flight accidents and medical insurance of Rs. 25 lakhs for emergency hospitalization.

Zero Liability Protection

Zero Liability protection is provided in case the lost or stolen card is reported within 3 days after losing it.

Fees & Charges

Joining Fee

Rs. 999 (plus applicable taxes)

Renewal Fee

Rs. 999 (plus applicable taxes)

Spend based Waiver

The renewal fee can be waived off on a spend of more than 4 lakhs in the last year.

Rewards Redemption Fee

A reward redemption fee of Rs. 100 on every redemption request.

Rewards Redemption Fee

A reward redemption fee of Rs. 100 on every redemption request.

Foreign Currency Markup

1.75% on all foreign currency spends

Interest Rates

3.6% per month ( 43.2% per annum)
3% per month ( 36 per annum) in case of credit card issued a fixed deposit

Fuel Surcharge

1% fuel surcharge waiver applicable at fuel stations all over India on a minimum of Rs. 400 transaction and a maximum of Rs. 5000 transaction.

Cash Advance Charge

2.5% of the transaction amount.

Add-on Card Fee

Nil (up to 3 cards)

YES First Preferred Credit Card Features and Benefits

The First Preferred Credit Card issued by the YES Bank is another very popular card just after the First Exclusive Credit Card. Along with a good reward rate, it offers various benefits across different categories, some of which are discussed below:

Travel Benefits

  • You get 4 exclusive complimentary access to international lounges every year through Priority Pass Membership. If you use Priority Pass for lounge visits in India, $27 + GST will be charged per person per visit.
  • 2 domestic lounge access per calendar quarter through MasterCard lounge program. The offer is valid for the primary cardholders only.

Golf Benefits

  • It also provides 4 complimentary green fee rounds every year.
  • Enjoy 1 complimentary lesson for golf every month at select golf courses across India.

Insurance Benefits

  • In case of death due to an air accident, a life insurance cover is provided worth Rs. 1 Crore.
  • Emergency hospitalization of up to Rs. 25 Lakhs is provided for treatment when traveling overseas.
  • If the primary cardmember dies accidentally, a credit shield cover is provided.

Other Benefits

The YES First Preferred credit card comes with miscellaneous benefits, including exclusive reward point offers, travel benefits, movie benefits, etc. Some other important benefits of the card include a 1% fuel surcharge waiver, a 25% discount on movies on booking through the book my show, etc. Moreover, you get 1000 Reward Points on every successfully done YES PayNow registration.

Joining and Renewal Fee Waiver

The Joining fee of Rs. 999 can be waived if you spend Rs. 50,000 in first 90 days.
The renewal fee of Rs. 999 can be waived off on spending Rs. 4 lakhs or more in the preceding year.

Low Foreign Markup Fee

This card comes with a minimal foreign conversion fee of 1.75% on all foreign transactions. Markup fee is an important source of income for card issuers. Usually, banks charge a markup fee of 3.5% on conversion.

YES First Preferred Credit Card Rewards:

Get 8 reward points per Rs. 200 spent on most of the categories.
Get 4 Reward Points for spends on utilities, tax payments, groceries, insurance sales, and some other categories.
Accelerated 16 Reward Points on every Rs. 200 on Travel and Dining Spends (Capped at 3,000 per month)

Rewards Redemption

  • To redeem your reward points for movies, flights, and hotel bookings, you can visit the dedicated website.
  • 1 Reward Point = Re. 0.25 when redeeming against hotel/flight bookings.
  • 1 Reward Point = Re. 0.10 when redeeming against product catalogue, gift vouchers, etc.
  • 10 Reward Points = 1 Intermile / 1 Club Vistara Point.
  • A reward redemption fee of Rs. 100 is charged for every redemption request on the YES First preferred card.

YES First Preferred Credit Card Fees and Charges

Following are the fee and charges that are applicable on transactions done with YES Bank First Preferred Card:

Fee Charged
Joining/Annual fee Rs. 999
Interest Charges 3.6% p.m. (43.2% p.a.)
Foreign Markup Fee 1.75% of the transaction amount
Cash Advance Fee 2.5% (minimum Rs. 300)

YES Bank First Preferred Credit Card Eligibility Criteria

The following table summarizes the eligibility criteria for the YES First Preferred Credit Card:

Salaried Employees Self-Employed Individuals
Age 21 Years – 60 Years 21 Years – 60 Years
Income Minimum Rs. 2,00,000 per month Minimum Rs. 24,00,000 per annum (as per ITR)

Documents Required

Following are the documents that are required when applying for the card:

  • Identity Proof: Driving License, PAN Card, Aadhar Card, Passport, Voter’s ID, etc.
  • Address Proof: Utility bills of latest months (not older than 3 months), Aadhar Card, Passport, etc.
  • Income Proof: Latest audited ITR or Latest salary slips/bank statements.

How To Apply For The YES Bank First Preferred Credit Card?

There are both online as well as offline methods to apply for the YES Bank First Preferred Credit Card. To apply online, follow a few simple steps as cited below:

  • Visit the YES Bank’s official website.
  • Click on ‘Credit Cards.’
  • Under the section ‘Premium Card,’ click on YES First Preferred Credit Card.
  • Click on ‘Apply Now’ and fill in all the essential details.

To apply offline, visit your closest YES Bank branch with all the mandated documents and apply for the card by filling out the physical application form.

Conclusion

Keeping all its diverse benefits in mind, you can now decide whether it suits you or not. Other than exciting reward point offers, its insurance benefits, travel benefits, and low foreign markup fee are some of the best reasons to choose the YES First Preferred credit card. Moreover, the card will also help you save every time you spend, hence obviously in maintaining your credit score. So, understand your requirements and if the card meets them, you need not to think twice before applying for it.

FAQs:

You get a 25% discount on booking movie tickets through Book my show and paying with your YES First Preferred card.

1 Reward Point = Rs. 0.10. Hence, 10 Reward Points will be equal to 1 rupee.

It is Rs. 100 on every redemption request.

Yes, it provides medical insurance which is worth Rs. 25 lakhs in case of emergency hospitalization provided for overseas treatment.

The foreign currency markup fee applicable on this card is 1.75%.

The renewal fee can be waived off on spending over Rs. 4 lakhs in the previous year.

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