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Yes First Exclusive Credit Card Review

Pranav Pranav Follow Jul 07, 2019 · 6 mins read
Yes First Exclusive Credit Card Review

Yes First Exclusive is a super premium credit card offering from Yes Bank. This card provides some of the unparalleled benefits which sets it apart from other super premium credit cards. Unlimited domestic and international airport lounge access to both primary and add-on card members, reward points that never expire, low foreign currency markup of 1.75% are to name a few.

Eligibility Criteria

Given that this is a super premium credit card, the eligibility criteria is more suited towards HNI. Below are the eligibility criteria for this card:

  • Age: Minimum 21 years to maximum 60 years
  • Salaried: Net salary > Rs. 4 Lakhs per month
  • Self Employed: Income Tax Return > Rs. 50 Lakhs

Fees

Following fees are applicable for this card:

  • Joining fee: Rs. 10,000 + GST
  • Renewal fee: Rs. 10,000 + GST

If you have an existing credit card with limit > 8 Lakhs for 1 year with no late charges, you can get this card life time free. However in this case, you won’t get welcome benefits.

Features

Yes First Exclusive comes with all bells and whistles a super premium credit card is supposed to have.

Welcome & Renewal benefits

  • 50,000 welcome reward points equivalent to Rs. 12,500
  • 40,000 renewal reward points equivalent to Rs. 10,000
  • Complimentary TAJ InnerCircle Epicure Membership for first year

Reward Points

  • 1 reward point = Rs. 0.25
  • 12 reward points per Rs. 100 spent on Travel Agencies & Tour Operators, Domestic Airlines and Dining, 3% reward rate
  • 6 Reward Points per Rs. 100 spent on all other categories, 1.5% reward rate
  • 25,000 bonus reward points on spending Rs. 20 Lakhs in a year
  • 5X reward point on shopping at Amazon/ Flipkart/ Myntra/ TataCLIQ using Yes Cart

Reward points can be redeemed on their dedicated reward portal Yes Rewardz. Earlier there was an option to redeem the reward points for Amazon vouchers, which they have disabled now. This was the best redemption option that was available in my opinion. However there are still some good options available like Central, Big Bazaar, Reliance Digital, Crome, Lifestyle, Pentaloons, Cleartrip etc.

MasterCard World Golf Programme

  • Waiver of 3 Green Fee at select golf courses in India
  • One complimentary Golf Lesson every calendar month at select golf courses in India

Airport Lounge Access

  • Unlimited Priority Pass international lounge access for primary and add-on card members
  • Unlimited domestic lounge access for Primary and add-on cardmembers across 25+ Lounges in India using MasterCard Lounge Program

This is the best feature of this card in my opinion and if you are a frequent traveller, you can save a lot by utilizing this benefit. If you’re thinking for a world tour with your family, this card have you covered for lounge access every where for all members of your family. Isn’t this exciting?

Insurance Coverage

  • Life Insurance Cover of Rs. 3 Crore for death due to Flight Accidents
  • Medical Insurance cover of Rs 50 Lakhs for emergency hospitalization when traveling overseas
  • Credit Shield cover for outstanding Credit Card dues in case of accidental death of Primary Cardmember

Dedicated Concierge Services

YES ASSIST, a dedicated concierge Service for following requests:

  • Car Rental & Limousine Referral and Reservation Assistance
  • Hotel/ Travel/ Special Events & Performance/ Restaurant Referral and Reservation Assistance
  • Movie tickets assistance in New Delhi, Bengaluru and Chennai
  • Flower & Gift Delivery
  • Emergency Towing and Roadside Repair Assistance

Low finance charges

  • 1.75% of foreign currency markup charges
  • 1.99% per month interest rate on Revolving Credit, Cash Advances and Overdue Amount

Other benefits

  • 25% discount on movie tickets at BookMyShow
  • Fuel surcharge waiver for transaction between Rs. 400 to Rs. 5,000

Drawbacks

Though this card comes with bunch of features, there are some drawbacks too which are outlined below:

  • Low reward rate: Earlier this card used to have a reward rate of 2.5% on all spends, but after recent devaluation, they have reduced it significantly. It would be awesome if they reinstate the earlier reward rate.
  • Less redemption options in reward catalog: Their reward catalog is very limited with very few options to redeem from. If they can re-introduce Amazon/ Flipkart vouchers, it would be great.
  • No travel partner for accelerated rewards on Yes Cart: There are no travel partner for accelerated rewards on Yes Cart. Also there is no option to redeem reward points for booking flights/ hotels. If they really want to compete with other players in market, they should introduce this feature ASAP.

Verdict

Unlimited international and domestic lounge access for primary and add-on card members, never expiring reward points and low foreign currency markup of 1.75% are some of the notable features of this card which sets it part from other cards in the market. It’s a no brainer to go for this card if it’s offered life time free. However I would be reluctant to recommend this card if you are being charged joining and/ or renewal fees.

Fees 3/5
Rewards 4/5
Features 5/5
Overall 4/5

What do you think of this card? Let me know your experience with this card in comments below.

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Pranav
Written by Pranav Follow
Hi, I am Pranav! I love to acquire, review and earn reward points/cashback from Credit Cards. Guiding people about benefits and optimal utilization of credit cards for years.