Major rules related to credit cards are going to change from December 1, 2024, know immediately otherwise you may face problems later.
Business News Desk –This 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 be effective from December 1, 2024. These changes include changes to the rules related to reward point redemption and lounge access.
Reward Point 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 Rewards points to cover up to 70 percent of the total bill or the maximum monthly limit (whichever is lower).
motherThe sick limits are as follows –
Yes Private and Private Prime Card: 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 redemption limit is in addition to the existing limit, which allows cardholders to use only 50% of the available points for gift vouchers and statement credits.
lounge access
Yes Bank is also increasing the spending limit for complimentary airport lounge access on its credit cards. This change will come into effect from April 1, 2025. Cardholders must meet the following spending requirements in the previous quarter to receive domestic lounge access in the upcoming quarter:
Spend Rs 1 lakh for 6 lounge visits under Yes Marquee and 3 lounge visits under Yes Reserve Card.
Under Yes First Preferred and Yes First Business cards, you will have to spend Rs 75,000 for 2 lounge visits.
Yes Elite+, Select, BYOC, Wellness Plus and Yes Prosperity Business Card – Here you will have to spend Rs 50,000 for 1 or 2 lounge visits depending on the card.
The expenditure should be within the prescribed quarters. For example, December 21 – March 20 for April-June access. The number of visits remains the same, but must meet the new spending 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.
