YES Bank Select Credit Card
The YES Bank Select Credit Card is a great option for those who want to earn rewards while spending. Previously known as the YES Bank Prosperity Edge Card, it comes with a joining fee of ₹599 and offers exciting benefits like reward points, travel perks, fuel surcharge waivers, and fee waivers. If you spend ₹10,000 within the first 30 days of getting the card, your joining fee will be waived. Plus, if you spend ₹1 lakh or more in a year, you won’t have to pay the renewal fee, making it a smart choice for regular spenders.
This card is perfect for shopping, dining, and travel lovers, as it provides extra savings through reward points. It even includes golf and travel benefits, adding more value for those who enjoy these activities. Security features like purchase protection and insurance make it a safe and reliable option. However, before applying, it’s important to check if it suits your spending habits and financial goals. The right credit card not only helps you save but also improves your credit score for the future.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Key Considerations Before Applying for a Credit Card in India:
- Eligibility Criteria: Ensure you meet the eligibility requirements, which typically include age, income, credit score, and employment status as defined by the issuing bank or financial institution.
- Credit Score: A strong credit score can significantly improve your chances of approval and result in more favorable terms, such as lower interest rates or higher credit limits. Verify that your credit score is healthy before applying.
- Interest Rates and Fees: Compare the annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction charges associated with various cards. These costs can vary widely and impact the overall value of the card.
- Rewards and Benefits: Evaluate the rewards, cashback, discounts, or other perks offered by the card to ensure they align with your spending patterns. Some cards may provide better benefits in specific categories, such as travel, shopping, or dining.
- Credit Limit: Review the credit limit offered by the card to ensure it meets your financial needs. Avoid applying for cards with excessive limits if you are concerned about managing debt, as this can lead to higher interest charges.
- Repayment Terms: Understand the repayment structure, including the minimum payment amount, payment due dates, and any associated penalties. Being clear about these terms can help you manage payments effectively and avoid interest buildup.
- Card Type and Features: Choose a card type that matches your specific needs—whether standard, premium, or specialized cards like those offering travel rewards or dining privileges. Ensure the features of the card align with your lifestyle and spending habits.
- Bank’s Reputation: Opt for a financial institution with a proven reputation for customer service and transparency. Consider researching customer reviews and assessing their support channels to ensure reliable service.
- Hidden Charges: Be aware of any hidden fees, including annual fees, balance transfer charges, foreign transaction fees, or cash withdrawal charges. These can add up over time and affect the overall cost-effectiveness of the card.
- Credit Utilization: Maintain a balance within your credit limit to avoid high credit utilization ratios, which can negatively impact your credit score. Responsible use of credit is essential for maintaining financial health.
- Long-Term Financial Plans: Consider how the credit card fits into your overall financial strategy. Avoid accumulating unnecessary debt and choose a card that supports your long-term financial goals without adding financial strain.
What happens if my YES Bank Select Credit Card is lost or stolen?
If you lose your card or it gets stolen, report it to YES Bank immediately. With zero lost card liability, you won’t be responsible for any unauthorized transactions made on your card.
How does the YES Bank Select Credit Card reward points system work?
You can earn 8 reward points per ₹200 spent on travel and dining (capped at 1,500 points per month), 4 points for every ₹200 spent on most other purchases, and 2 points on selected categories like insurance and utility bill payments.
What is the interest rate on this card?
The YES Bank Select Credit Card has an interest rate of 3.99% per month.
How can I get my YES Bank Select Credit Card’s joining fee waived?
You can have your joining fee waived by spending ₹10,000 or more within the first 30 days of receiving the card.
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