After well over 4 Years, we finally have a good offer on Yesbank Credit cards that’s worth speaking about. Yesbank is running a nice “Paid” spend-linked offer on their credit cards that can get you upto 1,50,000 bonus reward points. Here’s everything you need to know:
Offer Details
- Offer: Get 5X rewards on all spends (category wise, rewards may vary)
- Offer Type: Paid – Subscribe & spend (all are eligible)
- Offer Subscription Fee: 1800 INR+GST
- Max Cap: 1,50,000 Rewards per subscription year
- Fulfilment: Current month’s spends will reflect on next months stmt.
- Validity: 1 Yr from activation date
Basically what this offer does is 5X the existing reward rate upto 1.5L points in a year, after which it gets renewed along with the rest of annual max. cap.
This is pretty good on Yes First Exclusive Credit Card which will now yield reward rate as below:
- 15% on accelerated categories
- 7.5% on regular spends
- 3.75% on special categories
Now that means even the reward rate on special category spend is better than HDFC super premium credit cards or even Standard Chartered Ultimate for that matter.
However, remember that the accelerated category (like dining & travel) might be limited to just 5K+25K points a month. From what I understand, the offer stands on “top of the standard feature” and not a replacement.
Update (7th March): There is a confusion on the category of spends that would fetch 5X rewards. Check with the executive once before going with it as they’re giving different answers to different cardholders. Here’s an update reg. the fulfilment.
How to Activate?
Call Yesbank Credit Card Support, authenticate yourself and ask for this “paid subscription offer for 5X rewards”. The phone banking executive can activate the offer on card and confirm you over call.
I spoke to 3 executives regarding the offer. While most of them knew about the offer, none of them had terms & conditions of the offer in hand. I wish the offer is implemented properly.
Anyway, I got the offer confirmation the next day via SMS, as below and that serves as a proof of subscription, just incase if anything goes wrong.
Generally Yes bank is good at fulfilment of offers, so hope all goes smooth. Make sure to start transacting after you receive the Message.
They also seem to have another offer that gives 3X rewards instead of 5X rewards and it costs half the fee: 900 INR +GST. I see no reason for anyone to go for this plan though, as 5X is lot better.
Thanks to Maulik for sharing the offer details.
Final Thoughts
While Yesbank is coming up with many offers like 5X rewards, 3X rewards etc on insurance spends and more, the problem is with their super low capping, which makes it not worthy to spend our time on.
But this offer is good enough for the fee paid. As Bank gave these cards to everyone for free, asking a small fee to enjoy good amount of rewards like this is perfectly fine.
That said, with this offer I’m hoping to gain a little bit of rewards to mentally setoff the losses (partially) incurred on buying Yesbank Stocks in the past.
What’s your thoughts on Yesbank’s new attempt on paid spend-linked offers? Feel free to share your thoughts in the comments below.
While I haven’t got any such alert, what I have been getting is 3X offer on spends upto some caps for past 3-4 months. No fee or enrolment required, and rent and wallet loads excluded. By the way, Yescart is being discontinued.
Hi Siddharth, are you sure that you have got the reward rate calculation correct? As the last time I saw the reward redemption catalogue, the points were valued at 10 paise and not 25.
25ps is for hotel/flight redemptions. Others, yes, it’s low since past 3yrs or so.
Thanks for the clear Explanation Sid!
I think this is a motivational offer to take my YFE out for some spends, which is in shelf for last 2 years !!
Hello Sid! Thanks for an update on the offer. I also have a YES First Exclusive CC. I asked the Phone Banking team regarding the offer. They had no idea about the offer. They checked weather i am eligible for the offer or not, even then they could not find out about the offer so they have asked me to send an email to their team so that they can look for the offer.
Feel free to call again. Some reps may not be aware of it.
Hi Sameer. I spoke to them last week. They are aware of this offer. I took 3X subscription.
5X is limited to Travel, Dining, Fashion and Health care.
3X is for all.
Hence chosen 3X. Please try once more time.
I got yes bank card offered multiple times but ignored as they didn’t seem to beat the rewards that I’m already getting from my existing cards anyway. Would this offer be applicable for any cards applied freshly now?
Hi Sid,
You mentioned “However, remember that the accelerated category (like dining & travel) might be limited to just 5K+25K points a month.”.
As per yes website capping on travel and dining is 5k points only.
Where do you got this 25k capping from, couldn’t figure it out?
5K – Base points
25K – Bonus points (5X)
I checked with the phonebanking executive, and he told me that the 5x benefit is only on Dining, Traveling, Fashion and Healthcare categories. Rest all details (1800 +GST, 1 year subscription) are same as you described.
I guess it is better to wait for some written document from Yes Bank.
Will this work on the Yes Bank BYOC Credit card? If so, would it even be worth it?
Shall we get rewards for rent payment with YF Exclusive ?
Please someone.
subscribed for 5x initially but after sometime i got call 5x is applicable only on travel, dining, healthcare and one more category(dont rememeber) whereas 3x applicable on all spends. So changed to 3x
Yes, The fourth category is ” FASHION “.
I too spoken with customer care and confirmed that 5X is applicable on these four categories only.
Another disappointing thing once have opted for 5X , it can’t be changed to 3X . Amount can’t be refunded.
So useless for 5X.
May be useful for 3x.
travel, dining, healthcare and fashion are four categories eligible for 5x
Is this offer applicable on all CC of Yes bank ?
Hi
Please let me know if this spend and subscribe offer is applicable of Yes Private Credit Card also
I was told 1.5 lac is per statement and not per year .. Can anyone confirm this?
It’s per year for sure. Looks like there are so many confusions on the offer within the bank!
rechecked. They said per month
Yes. For me too they have mentioned. It’s per statement. Not year.
I got call from Yes bank. I declined it. Yes bank will devalue reward points for sure.
I was confirmed twice by their agent and supervisor over a recorded line that 5x is applicable on all spends.
Will be a disappointment if it’s for just 4 categories, since I have already actively started using this card for all my spends.
Same here, I confirmed with different executive across multiple calls.
They probably tweaked it after getting many calls for this benefit.
They mentioned 5X is only for 4 categories
This is what executive told me today..
There is no capping of 5k points once subscribed to the offer, only capping is 1.5lacs rewards points per statement cycle.. Yes statement cycle not yearly. I confirmed it 4-5 times.. he also confirmed with someone.
5x is applicable only for category earning 24 & 12 reward points per 200. i. E., travel, dining, online shopping etc
No 3x or 5x on any other select categories earning 6 rewards.. Only normal rewards.. Like education, insurance, Govt, grocery, supermarket etc.
Too much confusion now.
Will be great if anyone who has subscribed to the offer and have received reward points can clarify.
I should be able to clarify in a week, as my stmt is about to be generated.
That will be great Sid., Do clarify once your statement gets generated.
Did you got the accelerated reward points?
Not yet. Emailed them and I was told tat I’ll get it next month, stating that the bonus points credit process works every “calendar month” and not billing month.
Life insurance, health insurance comes under which category 3x or 5x ?
Statement generated, seems no bonus rewards credited!
Here’s a response from their customer support team:
We wish to inform you that for the subscription plan of reward point will be calculated for the total month and will be credited after billing of the particular month statement.
Received this clarification from the bank over e-mail. So seems the Sales team who initially sold the product did not have this clarity:
On 3x plan on all transaction which are eligible for rewards points you will get 3x points
Subscription Plan 1
Customer Benefit
Earn 3X Rewards on all your Spends for next 12 months
Customer Category
YES First
Subscription fee for one year
INR 900
On 5x plan only for Dining, Travel, Fashion and Healthcare Spends for next 12 months only you will be getting reward points
Subscription Plan 2
Customer Benefit
Earn 5X Rewards on your Dining, Travel, Fashion and Healthcare Spends for next 12 months
Customer Category
YES First
Subscription fee for one year
INR 1800
Terms and condition
For fuel you will not get reward points
If You have cancel the subscription plan after opting the refund will not be given
Total reward points you will get from 3x and also on 5x max 150000 reward point.
Couple of questions:
1. Is there any limit on bonus reward points that can accumulated in a month?
2. Any idea on after how many days Yes Bank will credit the bonus points?
Is 3x applicable on rent payments and wallet load ?
Received main regarding devaluation now only 16 RPs on spend of each ₹200 in dining and travel.
This reduces the 15% reward to 10%.
That was bad move by yes after introducing the 3x/5x programme.
When this happened? I have not received any such email regarding this? On the website also reward points on special catagory mentioned same as earlier.
Received mail from yes couple of days back.
Anyone received bonus reward points in your statement can share your thoughts on this 3x/5x offer.
Just spoke to Yes Bank team about activating this subsciption for my yes first exclusive, they informed me that starting May 1st, fee for 3x is 3000+GST and 5X is 5000+GST which does not make any sense so not opted for it.
Has anyone checked points and if those are calculated correctly
Heard that this plan cost increased to 5000+gst for 5x plan and 3500+gst for 3x plan
today i called yes bank customer care, according to her the chsrges for 3x plan is 3500+ gst
Is this offer available on YES BUSINESS FIRST CARD NOW?
Have anyone checked if points are correctly posted as per the plan.? as I find some difference from my calculations.
Its very inaccurate. They shared an excel with me. working on it. will send them back. quick question – one should get 5X on accelerated points for travel right? That is 120 RPs for INR 200 (24 x 5)
I’ve been following up on the rewards points for 5x rewards. I’ve received only 4x reward points so far which seems to be additional to the 1x but have not received any 15% reward points. I’ve been using this card only for restaurant and hotel categories as Magnus and Infinia are sufficient for other categories. Pathetic customer service response from yes as usual
Noticed points are not properly credited for a while. So raised a complaint through mail.. Yes team shared the excel showing points credited for each transactions.
Noticed only 12 base points are credited for travel and dining instead of 24 base points,leading to under credit of both base and 5x points.
Also no 5x credited for health care and fashion transactions. So raised a complaint again.
Received a mail that they are conducting and investigation for same.
Let’s see how its resolved..
Anyone else faced such issue.?
Yes I find they aren’t crediting points properly, haven’t followed up though.
Any revert on their investigations? Even I had called them for reconciliation of points. The phone banking officer said he’ll check and call back, but never called! I registered a complaint the next day, but not very hopeful for any sensible resolution. In terms of quick revert and service, Yes Bank is as bad and worst as Axis!
No resolution yet.. Even raised to PNO but still no resolution.
They don’t even bother to reply.
Any idea if this plan could be renewed? As per my call with YesBank today, they have stopped taking the renewal requests on phone. They have arranged a “call back” from the relevant department which takes care of such renewal now. Let’s hope I get that callback.