The YES BANK Anq Pi Credit Card is a unique offering designed to meet the evolving needs of modern-day financial transactions. This co-branded card, developed in collaboration with Anq, brings a fresh value proposition to the market, especially for those who frequently engage in digital and UPI transactions. In this article, we’ll dive deep into the features, benefits, and usage of this card, highlighting why it stands out among its competitors.
Table of Contents
What is the YES BANK Anq Pi Credit Card?
The YES BANK Anq Pi Credit Card is a co-branded product brought to you through a partnership between YES BANK and Anq. This collaboration allows the card to offer a range of financial benefits, including seamless UPI transactions, reward points, and enhanced security features. The financial arrangement between YES BANK and Anq ensures that fees and revenues are shared, making the card a highly competitive offering in the market.
Spend on UPI Using Credit
One of the standout features of the YES BANK Anq Pi Credit Card is its ability to be used for UPI transactions. You no longer have to rely solely on your debit card or bank account for UPI payments. With this card, you can link it directly to your UPI app and make payments via credit. This opens up more possibilities for spending while maintaining the convenience of UPI.
Virtual-Only Card: Pi Credit Card’s Unique Feature
The Pi Credit Card is a virtual-only card, which means you won’t receive a physical card. This can be a significant advantage in terms of convenience and security. You can link your Pi Credit Card to any UPI app, such as Google Pay, PhonePe, or Paytm, allowing you to make payments easily without having to carry a card with you.
Rewards and Cashback on UPI Transactions
Who doesn’t love earning rewards while spending? The YES BANK Anq Pi Credit Card offers accelerated rewards for UPI transactions. For every ₹200 spent on UPI transactions above ₹2,000, you earn 4 YES Rewardz points. Additionally, for any online spending, you earn 2 YES Rewardz points for every ₹200 spent. These rewards can accumulate quickly, making this card an excellent choice for frequent online and UPI users.
How to Link Pi Credit Card to UPI Apps
Linking your YES BANK Pi Credit Card to a UPI app is a simple process. Here’s a quick step-by-step guide:
- Open your preferred UPI app and log in.
- Select “Add Credit Card” or “Link Credit Card.”
- From the list of banks, select “YES BANK.”
- Choose your YES BANK RuPay Credit Card to be linked.
- Confirm and set up your UPI PIN.
Once linked, your Pi Credit Card will be ready for UPI transactions.
Making Payments Using Pi Credit Card via UPI
Making payments using your Pi Credit Card is just as easy. Simply:
- Open your UPI app and log in.
- Scan the merchant’s QR code or enter their UPI ID.
- Enter the transaction amount.
- From the drop-down menu, select your YES BANK RuPay Credit Card.
- Enter your UPI PIN and confirm the payment.
That’s it! Your payment will be successfully processed using your Pi Credit Card.
Information in Table format
| Feature/Aspect | Description | Real-Life Example |
|---|---|---|
| Card Name | YES BANK Anq Pi Credit Card | You receive a YES BANK Anq Pi Credit Card upon successful application. |
| Co-Branding | Developed in partnership with Anq, offering a range of financial benefits. | Users benefit from collaborative promotions and features that leverage both brands. |
| UPI Transaction Feature | Can be linked to UPI apps for making payments directly through credit, enhancing flexibility in spending. | You link your Pi Credit Card to Google Pay and make a UPI payment for groceries without using a debit card. |
| Virtual-Only Card | The card is exclusively virtual, meaning no physical card is issued, which enhances convenience and security. | You can make payments directly from your phone without carrying a physical card. |
| Rewards on UPI Transactions | Earn 4 YES Rewardz points for every ₹200 spent on UPI transactions exceeding ₹2,000 and 2 points for every ₹200 spent online. | You spend ₹5,000 on online shopping and earn 50 YES Rewardz points instantly. |
| Linking to UPI Apps | Simple process to link the card to any UPI app like Google Pay, PhonePe, or Paytm. | You follow the easy steps to link your Pi Credit Card to PhonePe, allowing you to make payments seamlessly. |
| Making Payments via UPI | Select your YES BANK RuPay Credit Card in the UPI app to make payments after scanning QR codes or entering UPI IDs. | You scan a restaurant’s QR code and pay your bill using the linked Pi Credit Card. |
| Earning YES Rewardz Points | Points can be redeemed for various perks, discounts, and special offers, incentivizing users to spend more. | You collect points over time and redeem them for a discount on your next purchase. |
| Eligibility Criteria | Must be a YES BANK account holder, available to both salaried and self-employed individuals, and meet the bank’s minimum income requirement. | A salaried professional applies and gets approved for the card after meeting income criteria. |
| Fees and Charges | Lifetime free with zero membership fees; 3.80% interest per month on revolving credit; additional transaction fees for certain transactions. | You use the card for monthly subscriptions without incurring membership fees, but remember to pay the balance in full. |
| Utility & Wallet Transaction Fees | 1% fee on utility transactions exceeding ₹15,000/month; wallet transactions incur a minimum fee of 1% of transaction value or ₹1. | You pay your monthly utility bill of ₹20,000 and incur a ₹200 fee due to exceeding the threshold. |
| Education Fee Payment Charges | A 1% fee for education payments made through third-party websites starting October 2024, capped at ₹5,000/month. | You pay your child’s tuition fees via PhonePe and incur a small fee, but it’s capped to keep costs manageable. |
| Fuel Transaction Charges | 1% fee on fuel transactions over ₹10,000/month; no charges for transactions below ₹10,000. | You fill your car’s tank for ₹12,000 and incur a ₹120 fee for exceeding the monthly limit. |
| Safety & Security Features | Users can manage their card via the app, block/unblock features, and secure online payments through Mastercard SecureCode or Verified by Visa. | You receive a notification of a suspicious transaction and quickly block your card through the app for security. |
| Conclusion | The YES BANK Anq Pi Credit Card offers convenience, security, and rewards for UPI and online transactions, making it ideal for digital-savvy customers. | You find that the card significantly enhances your shopping experience, earning rewards while enjoying secure transactions. |
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Earning YES Rewardz Points
As mentioned earlier, the YES BANK Anq Pi Credit Card allows you to earn rewards with every transaction. These YES Rewardz points can be redeemed for a variety of perks, from discounts to special offers. The more you spend, the more you earn, making this a win-win situation for users.
Eligibility Criteria for YES BANK Anq Pi Credit Card
To apply for the YES BANK Anq Pi Credit Card, you need to meet specific eligibility criteria:
- You must be a YES BANK account holder.
- The card is available to both salaried and self-employed individuals.
- You should meet the minimum income requirement set by the bank.
Fees and Charges Associated with the Pi Credit Card
The YES BANK Anq Pi Credit Card is lifetime free, with zero first-year and renewal membership fees. However, there are some additional charges, such as a 3.80% interest rate per month on revolving credit. Additionally, there are charges for specific transactions like rental payments and wallet transactions, as detailed below.
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Utility and Wallet Transaction Fees
- A 1% fee + applicable GST will be levied on utility transactions exceeding ₹15,000 in a month.
- Wallet transactions will attract a minimum fee of 1% of the transaction value or ₹1, whichever is higher.
Education Fee Payment Charges
Starting October 2024, a 1% fee + applicable GST will be charged for education payments made via third-party websites like CRED, PhonePe, and others. This fee is capped at ₹5,000 per calendar month, ensuring transparency and predictability in charges.
Fuel Transaction Charges
Similarly, fuel transactions over ₹10,000 in a month will incur a 1% fee + applicable GST. For example, a fuel transaction of ₹20,000 would attract a ₹200 fee plus taxes, while transactions below ₹10,000 will remain free from charges.
Safety and Security Features of the Pi Credit Card
Safety is a priority with the YES BANK Anq Pi Credit Card. Users can manage their card through the app, enabling features like card block/unblock, setting limits, and monitoring domestic and international transactions. Secure online payments are ensured through features like Mastercard SecureCode or Verified by Visa, providing an extra layer of security for your transactions.
FAQS
What is the YES BANK Anq Pi Credit Card?
The YES BANK Anq Pi Credit Card is a co-branded credit card developed through a partnership between YES BANK and Anq. It is designed to facilitate seamless digital transactions, particularly UPI payments, while offering rewards and enhanced security features. This card does not come with a physical version, making it a virtual-only credit card.
How does the YES BANK Anq Pi Credit Card work for UPI transactions?
The YES BANK Anq Pi Credit Card can be linked directly to any UPI app, allowing you to make payments using credit instead of a debit card or bank account. You can earn rewards for every transaction made through UPI, enhancing the value of your spending.
Are there any rewards associated with the YES BANK Anq Pi Credit Card?
Yes, the YES BANK Anq Pi Credit Card offers rewards for transactions. You can earn 4 YES Rewardz points for every ₹200 spent on UPI transactions over ₹2,000 and 2 points for every ₹200 spent on online purchases. These points can accumulate quickly, providing added benefits for frequent users.
How can I link my Pi Credit Card to a UPI app?
To link your YES BANK Pi Credit Card to a UPI app, follow these steps:
- Open your preferred UPI app and log in.
- Select “Add Credit Card” or “Link Credit Card.”
- Choose “YES BANK” from the list of banks.
- Select your YES BANK RuPay Credit Card.
- Confirm and set up your UPI PIN.
Once linked, you can use your card for UPI transactions.
What are the eligibility criteria for applying for the YES BANK Anq Pi Credit Card?
To apply for the YES BANK Anq Pi Credit Card, you must:
- Be a YES BANK account holder.
- Be either salaried or self-employed.
- Meet the minimum income requirement set by the bank.
Are there any fees associated with the YES BANK Anq Pi Credit Card?
The YES BANK Anq Pi Credit Card is lifetime free, meaning there are no first-year or renewal membership fees. However, there are charges for revolving credit (3.80% interest per month), as well as specific transaction fees for utility payments, wallet transactions, and education payments, among others.
What are the transaction fees for utility and wallet transactions?
For utility transactions exceeding ₹15,000 in a month, a fee of 1% plus applicable GST will be charged. Wallet transactions will incur a minimum fee of 1% of the transaction value or ₹1, whichever is higher.
How secure is the YES BANK Anq Pi Credit Card?
The YES BANK Anq Pi Credit Card prioritizes user safety with features like card management through the app, including the ability to block/unblock the card, set spending limits, and monitor transactions. Secure online payments are ensured through systems like Mastercard SecureCode and Verified by Visa, adding an extra layer of protection for your transactions.
Can I use the YES BANK Anq Pi Credit Card for fuel purchases?
Yes, you can use the YES BANK Anq Pi Credit Card for fuel purchases; however, transactions exceeding ₹10,000 in a month will incur a fee of 1% plus applicable GST. Transactions below this amount will not attract any charges.
What are YES Rewardz points, and how can I use them?
YES Rewardz points are earned through transactions made with the YES BANK Anq Pi Credit Card. These points can be redeemed for various perks, including discounts and special offers from partnering merchants, making your spending more rewarding.
Conclusion
The YES BANK Anq Pi Credit Card offers a unique blend of convenience, security, and rewards for UPI and online transactions. Its virtual-only feature, combined with accelerated rewards and robust security, makes it a smart choice for today’s digital-savvy customers. With zero membership fees and easy linking to UPI apps, this card can enhance your spending experience.