My credit card India

Yes Private/Private Prime Credit Card Welcome Benefits

• 25,000 Reward Points are credited to your account as a welcome benefit upon the completion of the first transaction with Yes Private Credit Card.
• 10,000 Reward Points are credited to your account as a welcome benefit upon the completion of the first transaction with Yes Private Prime Credit Card.

Milestone Benefits

On achieving the milestone of minimum expenditure of Rs. 10 lakh within the first 90 days of card issuance, you will get 10,000 Reward Points with Yes Private Credit Card.

Spends Based Waiver

The annual card renewal fee is waived if a minimum of Rs. 25 lakh (20 Lakh for a Private Prime Credit card) was spent in the previous card anniversary year with the Private Credit card.

Yes Private/Private Prime Credit Card Rewards

• For every Rs. 200 spent on international transactions, you will get 40 Reward Points.
• For every Rs. 200 spent on domestic spends, you will get 20 Reward Points.

1 Reward Point = Rs. 0.25

Reward Redemption

You can redeem the reward points by purchasing exclusive products and gift vouchers and by booking flight/hotels/movie tickets on the Yes Rewardz portal or by dialing the dedicated Yes Rewardz desk number, 1800 121 4444.

Travel Benefits

• Complimentary Lounge Key membership.
• Unlimited international airport lounge access for primary and add-on cardholders. Guest visits are limited to 10 per year.
• Unlimited domestic airport lounge access is available under the MasterCard domestic lounge access program. Guest visits are limited to 12 per year.
• Savings of up to USD 1,000 on round trip private air charter booking and USD 500 credit towards ground transportation.
• Airport privileges include VIP meet and greet and airport invitation services.
• USD 75 savings on all cruise bookings.
• Car rental discounts on Sixt Rent A Car.
• Savings of vacation packages.
• Discounts and benefits are available on the world’s most premium hotel chains, including Grand Hyatt Melbourne, The Lagham Sidney, International Melbourne, and Rialto.
• E-gift vouchers from Oberoi hotels and resorts.

Golf Privileges

• 12 rounds of complimentary green fees per year (max 3 per quarter).
• 4 complimentary green fee access to guests (max 1 complimentary guest green fee in a calendar quarter)
• 4 complimentary golf lessons per year, at most 1 per quarter.
• Golf privileges at international golf courses, including TPC and PGA golf courses.

Movie and Event Tickets Benefits

• Buy One Get One offer on BookMyShow for movie tickets with a max cap of 4 complimentary tickets per month.
• 50% off on event tickets on BookMyShow with a max cap of Rs. 1,000 per month.

Insurance Benefits

• Personal air accident cover worth Rs. 5 crore (applicable in case of loss of life due to a flight accident).
• Emergency overseas hospitalization cover worth Rs. 1 crore.
• Credit shield cover worth Rs. 15 lakh in case of the primary cardholder’s accidental death.

Less Finance Charge and Foreign Currency Mark-up fee

• Interest rate of 1.2% per month (14.4% annually) for Yes Bank savings/salary account holders and 1.99% per month (or 23.88 % annually) for others.
• A lower foreign currency mark-up fee of 0.50%.

Fuel Surcharge

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

Eligibility

Both Yes Private and Private Prime Credit Cards are invite-only.

To be eligible for Yes Private Credit Cards, you need to fulfill the following conditions:

• Total Relationship Value of Rs. 5 crores.
• Minimum liability relationship value of 3 crores (CASA AMB Plus FD).

Conclusion

As mentioned earlier, the two cards are very similar, the only difference being the joining fee (higher for the Private card) and a few additional benefits that you get with the Private Card. Given the kind of benefits they offer, both these cards, despite the high membership fee, are certainly worth it for the affluent HNIs. One of the most attractive features of the Yes Bank Private Credit Card series is the lower foreign currency charge of 0.50%.

Also, don’t forget to look at competitors like HDFC Infinia and ICICI Bank Emeralde Private Metal Credit Card. What do you think of these premium offerings by Yes Bank? Do let us know in the comments.