Important Update: Yes Bank is currently unstable as an institution; therefore its credit cards are not recommended for primary or secondary use. Please revise your credit card strategy accordingly. Below are alternative options you may consider from the best credit cards in India for 2020.
This is my hands-on review of Yes Bank’s YES First Preferred credit card. A prior overview by Manish covered the basic benefits; this article focuses on practical, lesser-discussed aspects from my personal experience.
Why choose the YES First Preferred Credit Card?
Although I already hold cards that deliver higher rewards in some categories, I opted for the YES First Preferred card for several reasons:
- Reward Rate: 2% back in points
- Priority Pass Lounge Access: Four complimentary visits per calendar year (useful as a backup)
- Annual Fee: Lifetime free for Yes Bank savings account holders
- Pathway to future upgrades within the Yes Bank credit card portfolio
YesBank – YES First Preferred Credit Card
Points can be redeemed for vouchers such as Amazon (redemption options may change), making the rewards flexible for everyday purchases. Holding this card also positions you to qualify for Yes Bank’s higher-tier products, like the YES First Exclusive card, if you decide to pursue them later.
Application process for YES First Preferred
When Yes Bank first launched cards, I wanted one but my city wasn’t initially serviceable, and I was directed toward a fixed deposit route, which I did not prefer. Recently the bank expanded its reach, and the process became accessible with the requirement to open a Yes Bank savings account and enable auto-debit. This appears to be their preferred onboarding method when they plan branch expansion in a location; otherwise fixed deposits may still be required in some cases.
For my application the branch manager and an executive visited my home, collected documents for the savings account with an instant kit, and the account went live in three days. They then processed the credit card application using an existing card-on-card relationship (my HDFC Regalia). The card was approved and delivered within three weeks.
Key points to know:
- Minimum existing card limit of ₹3 lakh is typically required for the Preferred variant when applying card-on-card; the Exclusive variant has had higher thresholds (for example, ₹8 lakh).
- Card vintage: at least one year on the reference card is usually required.
- If your application is not approved within two weeks, contact the bank—follow-up calls tend to prompt action.
- Lifetime free annual fee is generally offered only to Yes Bank account holders; non-account holders may receive only the first year free. Policies can change, so confirm at the time of application.
Throughout the process I interacted with several bank executives and found them helpful and responsive. Their support made the onboarding smooth.
Fun fact: I became the first Yes Bank credit card holder in my city, which felt like a small milestone.
The experience reminded me of early days with other banks, such as being among the first cardholders at an Axis Bank branch years ago. Card issuance timelines can vary greatly across issuers and product types.
The card and packaging
The card arrived in premium-style packaging resembling a jewellery box, which made the unboxing enjoyable and conveyed a premium impression. However, the physical card itself looks subdued because it lacks raised embossing. Personally I preferred the debit card design over this particular credit card’s finish.
The presentation is good overall, even if the card’s surface is less striking than expected.
YES First Preferred Credit Card – Unboxing
YES First Preferred Credit Card – Main box
YES First Preferred Credit Card – Inside the Box
Usage experience
I tested the card with a ₹100 online transaction immediately after activation. Transactions processed fine. The bank’s netbanking interface feels dated and basic compared with newer platforms, but it is functional and covers the essential features. There is room for improvement on the digital experience.
Note: The Priority Pass membership provided with this card is valid for five years, which is longer than many comparable bank-issued Priority Pass memberships that often have three-year validity.
Conclusion
Overall, Yes Bank presented a positive experience in terms of customer service and responsiveness, which matters when dealing with a newer bank. The card’s features—decent reward rate, lounge access, and fee concessions for account holders—make it an attractive product for eligible customers, especially if you value customer support and potential upgrade paths.
The bank’s upgrade criteria and systems were expected to evolve after launch; timing and specific requirements may vary. Those who secured the Exclusive variant early benefited from more lenient criteria in the initial rollout.
Do you hold the YES First Preferred card or plan to apply for it? Feel free to share your experience and thoughts in the comments.