Yes Bank ELITE credit card is the new re-branded offering that was previously known as Yes PREMIA. Yes Bank ELITE credit card comes with a joining and annual fee of ₹ 999+GST. The joining fee is waived on spends of ₹ 20,000 in the first 30 days and the annual fee is waived on ₹ 2 Lakh spend in a membership year. We get 12 reward points for every ₹ 200 spent on online shopping and 6 reward points for every ₹ 200 spent on offline shopping. The benefits include complimentary domestic and international airport lounge access, golf lessons and a fuel surcharge waiver.
Eligibility
- Age: 21 to 60 years
- Available for both salaried and self employed customers
- Minimum Net Salary of ₹ 1 Lakh per month or Income Tax Return of ₹ 9 Lakh and above
Fees
| Joining Fee | ₹ 999+GST ~₹ 1179 |
| Welcome Benefit | ₹ 500 Amazon GV on ₹ 1000 spend in first 30 days excluding rent & wallet transactions |
| Joining Fee Waiver | On ₹ 20,000 spends in first 30 days |
| Annual Fee | ₹ 999+GST ~₹ 1179 |
| Renewal Fee Waiver | On ₹ 2 Lakh spends in membership year excluding rent & wallet transactions |
Spends threshold for annual and joining fee reversal exclude Rent and Wallet transactions.
Rewards
| Type of Spend | Reward Points | Return |
|---|---|---|
| Online Spends (except select categories) | 12 RP/₹ 200 ~ Max 12K RP in a statement cycle | 1.5% |
| Offline Spends (except select categories) | 6 RP/₹ 200 | 0.75% |
| Select Categories Utilities, Insurance, Education, Govt. Services, Tax Payments, Rent, Wallet | 4 RP/₹ 200 | 0.5% |
| Fuel and EMI spends | No Rewards |
The reward rate on the Yes Bank Elite credit card is quite low. For the same annual fee, the SBI Cashback credit card gives you a much better value on your spends. But, there are two aspects where the Yes Elite is a better option. We can subscribe to a rewards subscription plan to get 3X/5X reward rate on spends. We have detailed this below. The other area where Yes Elite is a better is in giving out complimentary domestic and international airport lounge access.
Yes Bank Elite Credit Card: 3X/5X Rewards Subscription Plan
Yes Bank has launched a rewards subscription plan to get 3X/5X reward points on your spends with the Yes Bank Elite credit card. For both the plans, additional reward points per statement cycle are capped at 75,000.
Subscription Plan 1: 3X Reward Points on all spends
The subscription fee for this plan is ₹ 1500+GST for 1 year. Once activated, we earn 3X reward points on all our spends. The new reward rates will be as below:
| Online Shopping | Offline Shopping | Select Categories |
|---|---|---|
| 24 RP/₹ 200 ~3% | 18 RP/₹ 200 ~2.25% | 12 RP/₹ 200 ~1.5% |
Subscription Plan 2: 5X Reward Points on select spends
The subscription fee for this plan is ₹ 2500+GST for 1 year. Once activated, we earn 5X reward points on spends in Dining, Travel, Fashion and Healthcare categories. With this, the new reward rate for these spends would be 4.5% for online and 3.75% for offline spends in these categories. If any spends fall under the select categories MCC, then we will get 2.5%.
Rewards Redemption
We have many options for reward redemption. The best value is against flight redemption and gift vouchers.
| Redemption | Value |
|---|---|
| Flights and Hotels | 25 paise/RP |
| Gift Vouchers | 10 paise/RP |
| Air Miles (Club Vistara/InterMiles) | 10 RP = 1 Mile |
| Rewards Catalog | Varies |
Complimentary Airport Lounge Access
- Domestic Airport Lounge Access: 2 visits/quarter for primary and add-on card members. Check this list to see eligible airport lounges for the Yes Bank Elite credit card. We need to spend ₹ 35,000 and above in a calendar quarter to become eligible for complimentary airport lounge access in the next calendar quarter.
- International Airport Lounge Access: 3 visits/year only for primary card members
Yes Bank follows a different calendar quarter for determining airport lounge access eligibility as below. For example, if you spend Rs 35,000 in the period from 21st March – 20th June, then you will get complimentary airport lounge access in the quarter from 21st June – 20th September.
- 21st December – 20th March
- 21st March – 20th June
- 21st June – 20th September
- 21st September – 20th December
Complimentary Golf Program
- 4 Green Fee Waivers/year
- 1 Golf Lesson/month
The list of golf courses where the gold benefits are available differs based on the Visa or Mastercard variant.
Dining Fiesta Program
Yes Bank has its own dining program where it offers a minimum 15% discount for dining at 1000+ eligible restaurants. We have all the Tier 1 cities and few Tier 2 cities too.
Check out the Dining Fiesta micro-site to see all available restaurants. This is a pretty good benefit on this card and can be useful in the absence of other dining offers.
Other Key Benefits & Charges
- Fuel Surcharge Waiver: 1% fuel surcharge waiver for transactions between ₹ 400 and ₹ 5000. The maximum fee waiver is capped at ₹ 250 per statement cycle.
- BookMyShow Offer: 25% off up to ₹ 250 once per calendar month
- Rent Payment Charges: 1%+GST ~1.18%
- Utility Bill Payment Charges: 1%+GST ~1.18% for cumulative transaction value above Rs 15,000 per calendar month
- Wallet Load Charges: 1%+GST ~1.18%
- Foreign Currency Markup: 2.75%+GST ~2.1%
- Interest Charges: 3.8% per month
Final Thoughts
Yes Bank Elite credit card may not be a great option for rewards but is still a decent credit card to get for its airport lounge access benefits. You can even try getting this LTF by applying offline at one of the branches with C2C.
Yes Bank Elite Credit Card
