The YES Bank Anq Phi Credit Card is an exciting co-branded product that offers a host of benefits for those who love rewards, fuel savings, and access to exclusive perks like international lounge access. Whether you’re a frequent traveler or a digital spender, this card promises to be a game-changer in your wallet. Let’s dive deeper into the features, benefits, and more about this credit card.
Table of Contents
What is the YES Bank Anq Phi Credit Card?
This co-branded credit card is brought to you by YES Bank in collaboration with Anq, a trusted financial partner. The product is designed to offer a combination of rewards, fuel savings, and other lifestyle perks. The financial arrangement between YES Bank and Anq allows both parties to share revenue and fees, making this card a unique offering in the market.
Key Features of the YES Bank Anq Phi Credit Card
The YES Bank Anq Phi Credit Card is loaded with features that make it a desirable choice. Some of the standout features include:
- No Joining Fee or Renewal Fee: You can enjoy this card without worrying about hefty upfront costs or recurring fees, making it budget-friendly.
- 24 Reward Points on Every ₹200 Spent: Whether you’re paying for groceries or booking a vacation, you earn 24 points for every ₹200 spent. This makes your everyday purchases more rewarding.
Benefits of the YES Bank Anq Phi Credit Card
What sets this card apart are the various benefits it offers, which cater to different lifestyle needs:
- 1% Fuel Surcharge Waiver: For transactions between ₹400 and ₹5,000 at fuel stations across India, the card offers a 1% fuel surcharge waiver, making it an excellent choice for frequent drivers.
- Complimentary International Lounge Access: With three complimentary visits per year to international lounges, the card enhances your travel experience by offering luxury and comfort.
Rewards Program
The rewards program for the YES Bank Anq Phi Credit Card is where it truly shines:
- Uncapped Rewards: Unlike many other credit cards that cap reward points, this card lets you earn unlimited rewards without any restrictions.
- Bonus Points on Select Categories: Earn extra points when spending on travel, dining, groceries, and entertainment. Specifically:
- 24 Yes Rewardz Points for every ₹200 spent on travel, dining, hotels, and fast food.
- 24 Yes Rewardz Points for every ₹200 spent on groceries, supermarkets, apparels, and entertainment.
- 4 Yes Rewardz Points for every ₹200 spent on select other categories.
Eligibility Criteria
To apply for the YES Bank Anq Phi Credit Card, you need to meet the following criteria:
- Age: You must be between 21 and 60 years old.
- Income: For salaried individuals, a minimum monthly salary of ₹25,000 is required. For self-employed individuals, an Income Tax Return of ₹5 lakhs per annum is necessary.
- Exclusions: Existing YES Bank Credit Cardholders are not eligible for this card.
Fees and Charges
While the card boasts of zero joining and renewal fees, it’s essential to be aware of other charges:
- Revolving Credit: 3.80% per month (45.60% annually) on overdue amounts and cash advances.
- Rental and Wallet Transactions: A minimum fee of 1% of the transaction value (or ₹199, whichever is higher) will apply to rental and wallet transactions over ₹1.
- Utility Transactions: Charges of 1% + GST apply to utility spends over ₹15,000 per month, capped at ₹3,000.
Fuel Transaction Charges
Starting from October 2024, a 1% fee + applicable GST will be levied on fuel transactions exceeding ₹10,000. This fee is capped at ₹5,000 per customer per calendar month. For instance:
- A fuel transaction of ₹9,000 won’t incur any fee, but a ₹20,000 transaction will attract a 1% fee (₹200) plus taxes.
Safe Spending with YES Bank Anq Phi Credit Card
Security and ease of use are top priorities with this card:
- Contactless Transactions: Thanks to NFC technology, you can make secure, tap-and-go payments at retail outlets.
- Card Control: You can manage your card’s settings, including blocking/unblocking it and adjusting domestic and international limits, all from your phone.
- Secure Online Transactions: Every online transaction is protected by Mastercard SecureCode or Verified by VISA.
Information in Table format
| Feature/Topic | Details | Real-Life Example |
|---|---|---|
| What is the YES Bank Anq Phi Credit Card? | A co-branded credit card by YES Bank and Anq that offers rewards, fuel savings, and lifestyle perks. | If you frequently shop for groceries and fuel your vehicle, this card offers both rewards and fuel surcharge waivers, adding value to your everyday expenses. |
| Key Features of the YES Bank Anq Phi Credit Card | – No joining or renewal fee. – 24 Reward Points for every ₹200 spent. – Contactless NFC technology. – International lounge access. | You can earn 24 points for every ₹200 spent, so if you spend ₹10,000 monthly on groceries, you’ll accumulate 1,200 points in a month without any fees. |
| Benefits of the YES Bank Anq Phi Credit Card | – 1% fuel surcharge waiver for transactions between ₹400-₹5,000. – Complimentary 3 visits to international lounges annually. – Uncapped rewards. | Imagine filling fuel worth ₹5,000. With this card, you’ll get a 1% waiver, saving ₹50 instantly. If you frequently travel internationally, you can also enjoy luxury lounges for free. |
| Rewards Program | – 24 Reward Points for every ₹200 spent on travel, dining, hotels, groceries, and entertainment. – 4 Reward Points for other categories. – Unlimited reward points. | You can earn extra reward points while booking a holiday or dining at a restaurant. For example, spending ₹5,000 on a weekend trip earns you 600 reward points (24 points per ₹200 spent). |
| Eligibility Criteria | – Age between 21-60. – Minimum monthly salary of ₹25,000 for salaried, ₹5 lakhs annual ITR for self-employed. – Existing YES Bank credit cardholders not eligible. | A 30-year-old salaried professional with a monthly income of ₹40,000 can easily apply for this card. |
| Fees and Charges | – Revolving credit interest: 3.80% per month (45.60% annually). – Wallet and rental transactions over ₹1 charged at 1%. – Utility charges: 1% + GST for transactions over ₹15,000. | If you regularly pay rent or utility bills through your credit card, be aware that utility spends above ₹15,000 will incur additional charges. For example, if you pay ₹20,000 in bills, you may incur ₹200 in extra fees. |
| Fuel Transaction Charges | – 1% fee + GST on fuel spends above ₹10,000 starting October 2024. – Capped at ₹5,000 per customer per month. | If you fuel your vehicle for ₹12,000 in a month, you will pay ₹120 (1%) in charges, plus applicable GST. |
| Safe Spending Features | – Contactless NFC payments. – Card management via app (block/unblock, set limits). – Mastercard SecureCode or Verified by VISA for secure online transactions. | For example, if you lose your card, you can immediately block it through the YES Bank app, ensuring no unauthorized use. |
| International Lounge Access | – Three complimentary visits per year to international lounges, adding luxury and comfort to your travel. | If you’re flying internationally for work, you can relax at an exclusive lounge with free refreshments before your flight, enhancing your travel experience. |
| Maximizing Benefits | – Use the card for recurring payments like subscriptions or utility bills. – Track expenses to avoid charges on fuel and utility transactions. | Linking your card to pay for monthly OTT subscriptions like Netflix or Amazon Prime can earn you reward points every month, while keeping your total spends within the no-charge thresholds for utilities. |
| Pros and Cons | Pros: – No joining/renewal fee. – High rewards rate. – Complimentary lounge access. – Uncapped rewards. Cons: – Additional charges for fuel and utility spends beyond certain limits. – Not available for existing YES Bank credit cardholders. | If you travel a lot and spend frequently on entertainment and fuel, the rewards and complimentary lounge access can make this card highly valuable. However, if your spending exceeds limits in utilities, you may face extra fees. |
| How to Apply for the Card | Apply online via YES Bank’s website or visit a nearby branch with basic personal and financial details for verification. | You can easily apply through the YES Bank website by submitting your documents online. A salaried professional earning ₹50,000 a month can apply and receive approval quickly, provided all criteria are met. |
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International Lounge Access
For travelers, this card offers the convenience of three complimentary international lounge visits per year. This perk adds an extra layer of luxury and comfort to your travel experience.
How to Maximize the Benefits of the Card
To get the most out of your YES Bank Anq Phi Credit Card, follow these tips:
- Use the Card for Recurring Payments: You can link the card for recurring payments like OTT subscriptions or utility bills to rack up rewards effortlessly.
- Track Your Spending: Make sure to keep your monthly expenses within the threshold limits to avoid additional charges on utility and fuel transactions.
Pros and Cons of the YES Bank Anq Phi Credit Card
Pros:
- No joining or renewal fee.
- High rewards rate on various spending categories.
- Complimentary international lounge access.
- Uncapped reward points.
Cons:
- Additional charges on fuel and utility spends above certain thresholds.
- Not available for existing YES Bank credit cardholders.
How to Apply for the YES Bank Anq Phi Credit Card
You can easily apply for this card online via the YES Bank website or by visiting a nearby branch. The process is straightforward, requiring basic personal and financial details to verify your eligibility.
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FAQS
1. What is the YES Bank Anq Phi Credit Card?
The YES Bank Anq Phi Credit Card is a co-branded product offered by YES Bank in collaboration with Anq. This card provides a variety of benefits, including reward points on daily spending, fuel surcharge waivers, and international lounge access. It is designed for individuals looking for a credit card that enhances their lifestyle with travel, fuel savings, and rewards.
2. What are the key features of the YES Bank Anq Phi Credit Card?
The card includes several standout features:
- No Joining or Renewal Fee: You can use the card without worrying about upfront or annual costs.
- 24 Reward Points per ₹200 spent: Earn rewards for every ₹200 spent on various categories, such as travel, dining, groceries, and entertainment.
- Fuel Surcharge Waiver: A 1% fuel surcharge waiver on transactions between ₹400 and ₹5,000.
- Complimentary Lounge Access: Three complimentary international lounge visits per year.
3. How does the rewards program work on the YES Bank Anq Phi Credit Card?
The rewards program is quite generous:
- 24 Reward Points per ₹200 spent on select categories like travel, dining, groceries, and entertainment.
- Uncapped Rewards: There’s no limit on how many rewards you can earn.
- Bonus Points: Extra rewards on specific spending categories such as hotels, fast food, and apparel.
4. Who is eligible to apply for the YES Bank Anq Phi Credit Card?
Eligibility criteria include:
- Age: Applicants must be between 21 and 60 years old.
- Income: Salaried individuals must earn at least ₹25,000 per month, while self-employed applicants need to have an Income Tax Return of ₹5 lakhs per annum.
- Exclusion: Existing YES Bank credit cardholders are not eligible for this card.
5. What fees and charges are associated with the YES Bank Anq Phi Credit Card?
While the card has no joining or renewal fees, other charges include:
- Revolving Credit: 3.80% per month on overdue amounts and cash advances.
- Rental and Wallet Transactions: A 1% fee (or ₹199 minimum) on transactions exceeding ₹1.
- Utility Spends: 1% + GST charge on monthly utility payments above ₹15,000, capped at ₹3,000.
6. What are the fuel transaction charges on the YES Bank Anq Phi Credit Card?
Starting October 2024, a 1% fee plus GST will be levied on fuel transactions over ₹10,000 per month, capped at ₹5,000 per customer per calendar month.
7. How can I ensure safe spending with the YES Bank Anq Phi Credit Card?
The card comes equipped with several safety features:
- Contactless Payments: Tap-and-go transactions using NFC technology.
- Card Control: Manage settings such as blocking/unblocking and adjusting limits via the YES Bank app.
- Secure Online Transactions: Online purchases are safeguarded with Mastercard SecureCode or Verified by VISA.
8. What are the international lounge access benefits?
Cardholders receive three complimentary international lounge visits per year, adding luxury and convenience to their travel experience.
9. How can I maximize the benefits of the YES Bank Anq Phi Credit Card?
To get the most out of this card:
- Link recurring payments such as subscriptions or utility bills to earn rewards effortlessly.
- Track your spending to avoid additional charges on fuel and utility spends over the threshold limits.
10. What are the pros and cons of the YES Bank Anq Phi Credit Card?
Pros:
- No joining or renewal fees.
- High rewards rate on various spending categories.
- Complimentary lounge access.
- Unlimited reward points.
Cons:
- Additional charges on fuel and utility spends above certain thresholds.
- Not available for existing YES Bank credit cardholders.
11. How can I apply for the YES Bank Anq Phi Credit Card?
You can apply online via the YES Bank website or by visiting a local branch. The application process is straightforward, requiring basic personal and financial information to verify eligibility.
12. Is the YES Bank Anq Phi Credit Card worth it?
Yes, if you are a frequent traveler or regular spender who values rewards, fuel savings, and lounge access. The lack of joining and renewal fees, along with a high reward rate, makes this card a worthwhile option for a wide range of consumers.
Conclusion
The YES Bank Anq Phi Credit Card is packed with features, making it ideal for those who want to earn rewards on everyday spending, enjoy lounge access, and take advantage of fuel savings. With no joining or renewal fees and plenty of perks, it’s a solid choice for both frequent travelers and regular spenders alike.