YES First Preferred Credit Card
The YES First Preferred earned its name as the most affordable zero-forex premium card — but that is now out of date. After YES Bank's 2026 revisions it carries a 2.00% forex markup effective 15-Jun-2026 (up from 1.75%, and not zero), plus higher cash-advance and other charges (cash withdrawal now 2.5% or ₹650). It is still a fair travel card: 8 YES Rewardz per ₹200 on most categories (~1% at ₹0.25/point), 4 per ₹200 on select categories such as grocery and utilities, with higher travel/dining/fashion/healthcare earn available only via the opt-in paid Rewards Subscription Plan (5x on those four categories for ₹5,000 a year, or 3x on all spends for ₹3,500 a year), plus spend-gated lounges and golf. The ₹999 fee waives at ₹2.5 lakh (joining waived on ₹50,000 in 3 months). Just do not choose it for the zero-forex badge it no longer wears.
Key features
What this card is built to do — the highlights that actually matter.
1% on Other
8 YES Rewardz per ₹200 on most categories (~1% at ₹0.25/point), 4 per ₹200 on select; travel/dining/fashion/healthcare acceleration is NOT a card feature - it is the opt-in paid Rewards Subscription Plan (5x on those four for ₹5,000/yr, or 3x on all spends for ₹3,500/yr)
0.5% on Groceries
Grocery (MCC 5411) is on YES Bank's select-categories list effective 15-Jun-2026 — half rate, 4 YES Rewardz per ₹200 (~0.5%)
️ Airport Lounge Access
2 complimentary visits per quarter at domestic and international airport lounges
Annual Fee Waiver
Fee of ₹999 + 18% GST (₹1,179 all-in)/yr fully waived when you spend ₹2,50,000/year
Golf Privileges
Green-fee waiver on golf rounds at partner courses
Fuel Surcharge Waiver
1% waiver on fuel transactions, capped at ₹250/month
Movie Ticket Benefit
25% discount on movie tickets booked via BookMyShow
Full reward structure
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Other | reward points | 1% | — |
| Groceries | reward points | 0.5% | — |
| Utility Bills | reward points | 0.5% | ₹75 |
Fees & charges
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | ₹1,179 |
| Joining fee (incl. 18% GST) | ₹1,179 |
| Finance charge (APR) | 3.99% p.m. |
| Forex markup | 2% |
| Fuel surcharge waiver | 1%, cap ₹250 |
| Reward redemption fee | ₹100 |
Perks & benefits
Estimated annual value beyond rewards — ~₹10,000/yr in total.
️ lounge access ~ ₹6,000 /yr
2 domestic lounge visits per calendar quarter (8 a year), unlocked by ₹75,000 spend in the previous quarter (quarter-N unlocks quarter-N+1). International is separate and NOT spend-gated - 4 visits per calendar year, Priority Pass on Mastercard and LoungeKey on Visa (YES Bank MITC)
golf ~ ₹2,000 /yr
Green-fee waiver on golf rounds at partner courses
movie ticket ~ ₹1,000 /yr
25% discount on movie tickets booked via BookMyShow
fuel waiver ~ ₹1,000 /yr
1% fuel surcharge waiver on fuel transactions between ₹500 and ₹5,000, capped at ₹250 a month
Should you get it?
Best for: Frequent travellers, Higher spenders
Premium tier — a solid all-rounder for steady monthly spend.
Strongest value if you spend heavily on Other ( 1% back).
Frequent travellers benefit from the included airport lounge access.
✓ Pros
- Strong rewards that can offset the annual fee for the right spender
- Premium lifestyle perks (lounge, golf, 25% off BookMyShow movie tickets)
- Forex markup of 2.00% — still below the ~3.5% most cards charge
- 1% fuel surcharge waiver on transactions between ₹500 and ₹5,000, capped ₹250 a month
✕ Cons
- Annual fee applies unless the spend-based waiver is met
- Higher income / eligibility bar
- Discontinued — YES Bank no longer issues it to new applicants
Eligibility & documents
Age
21 –65 years
Min. income
₹1,00,000 /mo
Employment
Salaried · Self-employed
Documents required
- PAN card
- Aadhaar / valid address proof
- Latest 3 months bank statement
- Income proof — salary slips (salaried) or ITR (self-employed)
- Recent passport-size photograph
How to redeem rewards
Ways to convert what you earn into real value.
🎁 Statement credit / cashback adjustment
🎁 Online rewards catalogue (vouchers, merchandise)
🎁 Flight & hotel bookings via the issuer rewards portal
🎁 Airline / hotel partner point transfers (on eligible cards)
What your YES Reward Points are worth
Realistic value per point by redemption route — the difference is what most people leave on the table.
Statement credit Capped at 50% of the point balance; ₹100 + GST per redemption request
E-gift voucher (EGV) Capped at 50% of the balance and ₹25,000 a calendar month
Flights & hotels BEST YES's best route — capped at 70% of invoice value; ₹99 + GST convenience fee on flights
Air India Maharaja transfer Air India is YES's only transfer partner, and the flagship is NOT the best deal: YES Private and Private Prime convert 8:1 (⇒ ₹0.125/pt) while Marquee and every other card sit at 10:1 (⇒ ₹0.10/pt) — the rate YES itself publishes as '1 Air Mile per 10 Reward Points'. Both sit below the ₹0.25 flights-and-hotels route, so on YES transferring destroys value. No minimum; credited in up to 7 working days.
✈ Transfer partners ✈ Air India Maharaja Club ( 10:1 ) Value your balance: YES Reward Points ✈ Air India Maharaja Club ( 10:1 ) ₹ 1,000 vs. typical redemption ₹ 1,000 Direct transfers from this card only, ranked by what a point is worth in the destination programme . Full calculator, every currency → The concern The defining zero-forex feature is gone (now 2.00% effective 15-Jun-2026, up from 1.75%), and the June 2026 revision raised cash-advance/other charges — so its old headline appeal no longer applies.
The bottom line
The card continues to provide respectable entry-level travel features, including lounge visits and golf privileges, although unlocking its highest earning rates requires paid annual add-on subscriptions. Note that the product is now discontinued for new applicants and carries a 2.00% forex markup effective 15-Jun-2026 (up from 1.75%) along with revised cash-advance fees. For existing YES Bank cardholders, it remains a reasonable lifestyle card, provided expectations are aligned with its updated terms rather than its former zero-forex reputation.
Sources & verification
Fees, reward rates, and benefits for the YES First Preferred Credit Card are taken from YES Bank 's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page . Last verified 16 Aug 2026 . Reviewed by Devchandra Sah . Always confirm current details on the issuer's site before applying. How we research →
Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for YES Bank . All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
Value timeline
Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.
Tracking since 2024 · 2 changes · last change Jun 2026
▲ Revaluation ▼ Devaluation ◆ Neutral / reversed
2026 1 change — 1 cut
▼ Fee Effective 15 Jun 2026
Forex markup raised to 2.00%
1.75% → 2.00% (dynamic currency conversion 1% extra)
Effective 15 June 2026 the YES First Preferred's foreign-currency conversion charge rose from 1.75% to 2.00%, per the master MITC's rate table and the card page's own footnote dating the old rate.
Verification: YES Bank ↗ · Confidence: High
2024 1 change — 1 cut
▼ Fee Effective 1 Dec 2024
Finance charges raised to 3.99% per month
3.99%/month (47.88% p.a.)
YES Bank moved its non-premium card range, including the First Preferred, to a 3.99% monthly finance charge (about 47.88% annualised) effective 1 December 2024. The current MITC keeps the base First Preferred in this "Other Credit Cards" band; only the against-FD and NRI variants price at 2.49%.
Verification: CardAdvisor Research · Confidence: High
Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.
Embed this timeline on your site Free to use. Facts only — dates, changes and before/after values. Please keep the credit line below the frame: it's the only part search engines can see, and it's what we ask for in return.
Source: YES First Preferred Credit Card value timeline — CardAdvisor
“ Cite this timeline Quoting a date or a before/after figure? Copy the HTML version — it credits the record with a working link.
HTML (with link) Plain text Copy
Source: YES First Preferred Credit Card value timeline , CardAdvisor (CC BY 4.0).
Find your best card
Answer 5 questions. Get a personalised shortlist with ₹ value estimates.
Find my card →
Quick summary
Type Premium credit card
Reward rate 1%
Best for Frequent travellers
Joining fee ₹999
Annual fee ₹999
Reviewed by
Devchandra Sah · Cards tested, miles earned, trips booked — for over a decade
Last verified 16 Aug 2026
How we research →
Useful links
Rewards calculator
Estimate any card’s annual value
Points valuations
What each point is really worth
Latest card changes
Live fee & reward-rate tracker
Market insights
The Indian card landscape
Card data study 2026
280 cards analysed — August 2026
Frequently asked questions
Check your eligibility for this card
Answer a few quick questions and our team will reach out with matching card offers based on your profile.