Credit Card New Rules: After three days, this bank is changing the rules of credit card. If you also have one, then read here.
A private sector bank is going to change its credit card rules (Credit Card New Rules) after just three days. We are talking about Yes Bank. Yes Bank has made two major changes in the benefits of its credit card, which will come into effect from December 1, 2024. These changes include changes in the rules related to reward points redemption and lounge access.
Reward Points Redemption
Yes Bank will impose a limit on the number of reward points that can be redeemed for flights and hotels from December 1, 2024. Cardholders can use their Yes Reward Points to cover up to 70 per cent of the total bill or the maximum monthly limit (whichever is lower). The monthly limits are as follows –
- Yes Private and Private Prime Cards: 6,00,000 points
- Marquee Card : 3,00,000 Points
- Reserve Card: 2,00,000 Points
- Other Yes Bank Credit Cards: 1,00,000 Points
This limit on redemption is in addition to the existing limit, which allows cardholders to use only 50% of their available points for gift vouchers and statement credits.
Lounge access
Yes Bank is also increasing the spending limits for complimentary airport lounge access on its credit cards. This change will be effective from April 1, 2025. Cardholders will have to meet these spending requirements in the previous quarter to avail domestic lounge access in the upcoming quarter:
- 6 lounge visits under Yes Marquee and 3 lounge visits under Yes Reserve card will cost Rs 1 lakh.
- Under Yes First Preferred and Yes First Business Card, you will have to spend Rs 75,000 for 2 lounge visits.
- Yes Elite+, Select, BYOC, Wellness Plus, and Yes Prosperity Business cards – Here you will have to spend Rs 50,000 for 1 or 2 lounge visits depending on the card.
The spend must be done within the specified quarters. For example, 21 December – 20 March for April-June access. The number of visits remains the same, but it is necessary to meet the new spend limit.
What do these changes mean for cardholders?
With these updates, Yes Bank joins other banks like ICICI Bank in increasing the requirements for lounge access. Cardholders can expect these changes to impact the way they maximize their rewards and airport lounge access.
