If you hold this card: You keep the card and receive a like-for-like renewal on expiry — there is no forced migration. Only new applications have stopped.
YES Bank retired the First Preferred in its 2024–25 portfolio revamp, which rebuilt the lineup around the RESERV and ELITE+ tiers (RESERV succeeds the old First Exclusive, not the Preferred). No card is named as its direct successor; the current RESERV/ELITE+ range are the nearest alternatives.
In-depth review
YES First Preferred Credit Card
It earned its name as the most affordable zero-forex premium card — but that's now out of date. After YES Bank's 2026 revisions, the First Preferred carries a 2.00% forex markup effective 15-Jun-2026 (up from 1.75% — and not zero), plus higher cash-advance and other charges. Still a fair travel card with lounges and golf — though the healthcare and fashion bonus categories it gets credit for come from a paid add-on, not the card. Just don't choose it for the badge it no longer wears.
Read the full review →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 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)
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
✈️ TRAVEL BENEFITS
Lounge access, miles, forex rates and travel perks at a glance.
AIRPORT LOUNGE ACCESS
8 visits/yr
Domestic lounges
Priority Pass
International lounges
₹6,000
Estimated annual value
2%
Forex markup
- Domestic + international airport lounge access (8 domestic visits/yr, worth ~₹6,000)
- Low forex markup: 2.0%
👑 PREMIUM LIFESTYLE BENEFITS
Concierge, golf, hotel membership and high-value perks for premium cardholders.
₹2,000
Golf perk value
- Complimentary golf access at premium courses
🎬 ENTERTAINMENT BENEFITS
Movies, OTT subscriptions and entertainment perks.
- 25% discount on movie tickets booked via BookMyShow
For YES Bank customers who want a travel card with lounges and golf. Note the forex is now 2.00% — effective 15-Jun-2026, up from 1.75% — not zero, and the healthcare/fashion category earning has to be bought separately as the Rewards Subscription Plan.
Full reward structure
What you earn on every rupee, per spend category — as of 24 Oct 2026. Rates assume 1 pt = ₹0.25. How we value points →
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Other | reward points | 1%4 pts/₹100 × ₹0.25 | — |
| Groceries | reward points | 0.5%2 pts/₹100 × ₹0.25 | — |
| Utility Bills | reward points | 0.5%2 pts/₹100 × ₹0.25 | ₹75 |
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)
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%)
Utility Bills: Utilities (MCC 4900) earn the half rate — 4 YES Rewardz per ₹200 (~0.5%) — with utility reward points capped at 300 a statement cycle (MITC p10)
Earns nothing on: Rent · Wallet Loads · Fuel · Cash Advances · EMI Conversions · Government & Tax · Insurance · Education · Railways · Tolls & Road Fees · Ferry · Jewellery · Marketing and advertising
These spends earn no rewards at all — not a reduced rate, and not the base rate. They are also normally left out of any milestone or fee-waiver calculation.
Fees & charges
The numbers that matter beyond rewards — verify on the issuer site before applying. Fees below are shown inclusive of 18% GST, as of 24 Oct 2026.
| 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.
1% fuel surcharge waiver on fuel transactions between ₹500 and ₹5,000, capped at ₹250 a month
Green-fee waiver on golf rounds at partner courses
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)
25% discount on movie tickets booked via BookMyShow
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 everyday spends (1% back).
- Frequent travellers benefit from the included airport lounge access.
Pros & cons
✓ 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
This is the figure for salaried applicants. Where YES Bank sets a separate one for the self-employed, its own eligibility page gives it.
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.
Capped at 50% of the point balance; ₹100 + GST per redemption request
Capped at 50% of the balance and ₹25,000 a calendar month
YES's best route — capped at 70% of invoice value; ₹99 + GST convenience fee on flights
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
Direct transfers from this card only, ranked by what a point is worth in the destination programme. Full calculator, every currency →
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.
Frequently asked questions
What is the annual fee for the YES First Preferred Credit Card?
What is the foreign currency markup?
What is the minimum age and income to apply?
How has the YES First Preferred Credit Card changed over time?
Has the YES First Preferred Credit Card been devalued recently?
When did the YES First Preferred Credit Card's fees last change?
The bottom line
Still a fair travel card — lounges and golf, though the broad bonus spread it gets credit for is a paid add-on — but note it is now discontinued: after the 2026 revisions it carries a 2.00% forex effective 15-Jun-2026 (up from 1.75%, and not the zero it was famous for) and higher cash-advance charges. Good value for a YES customer, just not for the badge.
How this page was built
Counted from this card’s own record: 3 earn rules, 1 of them capped, the spends listed as earning nothing and 4 recorded perks. The renewal fee is conditional — it is waived on a published spend target, so the fee you pay depends on what you spend.
Last updated 24 Oct 2026.
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 updated 24 Oct 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.
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Guides and reviews related to this card.
YES First Preferred Credit Card
It earned its name as the most affordable zero-forex premium card — but that's now out of date. After YES Bank's 2026 revisions, the First Preferred carries a 2.00% forex markup effective 15-Jun-2026 (up from 1.75% — and not zero), plus higher cash-advance and other charges. Still a fair travel card with lounges and golf — though the healthcare and fashion bonus categories it gets credit for come from a paid add-on, not the card. Just don't choose it for the badge it no longer wears.
YES Prosperity Cashback Plus Credit Card
Does one thing well and doesn't pretend otherwise — 5% cashback on utility bills paid by auto-pay standing instruction (capped ₹100 a cycle), a useful rate for a category most cards exclude or cap harshly. A focused bill-payment tool for the household with regular electricity, water, gas and broadband bills. Everything else is minor; pair it with a stronger card for general spend and accept the usual YES Bank trade-offs.
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 · last change Jun 2026
2026
- ▼ FeeEffective 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
- ▼ FeeEffective 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.
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Source: <a href="https://cardadvisor.in/cards/yes-first-preferred#value-timeline">YES First Preferred Credit Card value timeline</a>, CardAdvisor (CC BY 4.0).