Hey TFCians,
Bad news for Yes Bank credit card holders – we’re looking at what could be the most brutal devaluation of the year. Yes Bank made this change without notifying customers in advance, as is often the case with reward point adjustments. Unfortunately, this devaluation impacts all Yes Bank credit cards, including their flagship Yes Private card. It’s surprising to see Yes Bank devalue their highest-tier product in this way. After all the recent devaluation notices from Yes Bank, this unannounced change in point value seems like the final nail in the coffin for Yes Bank credit cards.
Upon checking the Yes Rewardz portal, it appears that 1 RP now equals Rs. 0.15 for gift voucher redemptions.
40% decrease in point value.
Redemption for travel bookings still offers the 1 RP = Rs. 0.25 rate, but many users primarily redeemed their points for gift vouchers, especially given the lack of a competitive points transfer option to airline partners.
This change will significantly lower the reward rate on their credit cards. I only wish they had spared their top-tier Yes Private card from this adjustment.
Bad news for Yes Bank credit card holders – we’re looking at what could be the most brutal devaluation of the year. Yes Bank made this change without notifying customers in advance, as is often the case with reward point adjustments. Unfortunately, this devaluation impacts all Yes Bank credit cards, including their flagship Yes Private card. It’s surprising to see Yes Bank devalue their highest-tier product in this way. After all the recent devaluation notices from Yes Bank, this unannounced change in point value seems like the final nail in the coffin for Yes Bank credit cards.
The Devaluation:
Until a few days ago, the reward point value for all Yes Bank credit cards was 1 RP = Rs. 0.25 when redeeming points for gift vouchers from various brands. Now, several community members have reported a drop in value here: Yes BankRewardz Redemption Options for Marquee Credit Card.Upon checking the Yes Rewardz portal, it appears that 1 RP now equals Rs. 0.15 for gift voucher redemptions.
40% decrease in point value.
Redemption for travel bookings still offers the 1 RP = Rs. 0.25 rate, but many users primarily redeemed their points for gift vouchers, especially given the lack of a competitive points transfer option to airline partners.
This change will significantly lower the reward rate on their credit cards. I only wish they had spared their top-tier Yes Private card from this adjustment.
