Important Update: Yes Bank is currently unstable as an institution, so its credit cards are not recommended for primary or secondary use. Please adjust your credit card strategy accordingly. Below are other top credit card options in India for 2020 to consider.
Since Yes Bank entered the credit card market, it has steadily expanded its portfolio to serve multiple customer segments. The bank offers cards for beginners, such as the Yes Prosperity Rewards/Cashback Credit Card, as well as premium options like the Yes First Preferred and Yes First Exclusive cards for higher net worth customers. Yes Bank has also run aggressive offers periodically, making some of its cards attractive additions to a wallet under stable conditions.
Yes Bank has introduced a distinctive product in India by launching the MasterCard World Elite platform through the Yes Private Credit Card.
Eligibility & Fees:
This card is exclusive to Yes Bank Private banking clients with a relationship value of ₹5 crore or more with the bank.
- Joining Fees: ₹50,000 + 18% GST
- Renewal Fees: ₹10,000 + 18% GST. Renewal fees are waived if total spends in the previous year exceed ₹25 lakhs.
Note: This is an invitation-only card available to a select group of around 2,500 Ultra HNI customers, making it one of India’s most exclusive cards alongside invite-only products such as the American Express Centurion and the HDFC Infinia.
Reward Points on YES Private Credit Card
- Welcome Rewards: 50,000 reward points on your first transaction. At an estimated value of ₹1 per point, this offsets the high joining fee, though GST remains payable on the fee.
- Milestone Bonus: 10,000 reward points for retail spends of ₹10 lakhs within the first 90 days from card activation.
- International Spend: 3 reward points per ₹100 spent (approx. 3%).
- Domestic Spend: 2 reward points per ₹100 spent (approx. 2%).
Note: Reward points are not awarded on fuel transactions.
Key Features of the YES Private Credit Card
- Complimentary Lounge Membership: LoungeKey membership for the primary and each add-on cardholder. Includes 10 complimentary guest visits per calendar year in addition to the cardholders’ lounge access.
- VIP Meet & Greet Services: A dedicated meet-and-greet agent to assist through the airport experience, with a 15% discount on the service.
- Airport-by-Invitation Services:
- Departures: Private departure lounge with refreshments and staff, private check-in and security from the lounge, luggage check-in from the lounge, private chauffeured transfer from VIP suite to the aircraft, and an option to board first or last.
- Arrivals: Private chauffeured transfer from aircraft to VIP suite, private arrival lounge with refreshments, customs and immigration clearance within the private lounge, and luggage delivered to the lounge.
- Entertainment Benefits (BookMyShow): Buy one get one free up to four complimentary tickets (no cap on ticket value) and up to ₹1,000 discount on events, experiences, plays, and sports per calendar month, usable multiple times.
- Golf Benefits: 12 complimentary rounds of green fees per year (limited to 3 rounds per calendar quarter), 4 complimentary guest green fee accesses per year (limited to 1 per quarter), and 12 complimentary golf lessons per year (limited to 3 per quarter).
- Insurance Coverage:
- Air accident cover up to ₹3 crores in case of death due to flight accidents.
- Emergency overseas hospitalization cover up to ₹50 lakhs.
- Credit shield covering outstanding card balance up to ₹10 lakhs in case of accidental death of the primary cardholder.
- Global Emergency Services: Notable emergency support includes:
- Emergency Card Replacement: Replacement card delivered to your address in India or overseas on request.
- Emergency Cash Advance: Emergency cash advance available through global network partners for overseas locations.
These emergency services are a distinctive feature of the Yes Private card and are not offered on other Yes Bank cards, including the Yes First Exclusive. Similar services are available on some premium cards from other issuers.
In addition to the above, the card offers various discounts on luxury travel and dining experiences.
Comparison with Yes First Exclusive Credit Card
Yes First Exclusive offers a flat 2.5% cashback on eligible spends. While the Yes Private card carries a higher joining fee, the welcome reward partially offsets that cost. Renewal fees are comparable to the Yes First Exclusive, but the Yes Private card distinguishes itself through an extensive suite of luxury services and airport experiences that target ultra-high-net-worth customers. For those who prioritize exclusive experiences over savings, the Yes Private card positions itself above many premium alternatives.
CardExpert Rating: 4/5
What are your thoughts on this ultra-premium card? Is it worth the exclusivity and fees? If you’ve been invited or hold this card, please share your experience and opinions in the comments section below.