It came to me as a shocker that reward rate on all Yes Bank credit cards except Yes Private has been reduced. I am summarizing the changes for Yes First variants below:
Yes First Exclusive
- Current: 2.5% on all retail spends
- Revised: 3% on Travel Agencies & Tour Operators, Domestic Airlines and Dining, 1.5% on all other categories
Yes First Preferred
- Current: 2% on all retail spends
- Revised: 2% on Travel Agencies & Tour Operators, Domestic Airlines and Dining, 1% on all other categories
For other variants, you can see the update on Yes Bank website. These changes will be effective from 15 April 2019.
It’s worth noticing that other benefits like unlimited lounge access and low foreign currency markup fee of 1.75% have been retained. However I am quite skeptical that these benefits will continue for long. Also, though these cards have low foreign markup fee, the reduced reward rate can’t cover them now.
With these changes, Yes First Exclusive is no more my primary card. I would be shifting all my spends to HDFC Diners Club Black which I acquired recently and has reward rate of 3.3%. What about you? Let me know in comments.