Devaluation Yes Bank Credit Card Devaluation - Now Spend 1L to Get Free Lounge Access

[TechnoFinoTechnoFino is verified member.]

Hey TFCians,

Now it’s Yes Bank, and they’re raising the spending requirements to get complimentary airport lounge access. Several Yes Bank credit cards have been devalued, making it necessary to spend a significant amount each quarter to qualify. And some changes regarding reward point redemption.

Here are the details:

Airport Lounge Access:
Effective from April 1, 2025, you’ll need to meet a spending threshold in the previous quarter (Dec 21 - Mar 20 | Mar 21 - Jun 20 | Jun 21 - Sep 20 | Sep 21 - Dec 20) to qualify for complimentary lounge access in the following quarter (Apr 1 - Jun 30 | Jul 1 - Sep 30 | Oct 1 - Dec 31 | Jan 1 - Mar 31).

• Yes Bank MARQUEE/RESERV Credit Card: Spend Rs. 1,00,000 in a quarter to receive complimentary airport lounge access.
• Yes Bank YES First Preferred/YES First Business Credit Card: Spend Rs. 75,000 in a quarter.
• Yes Bank ELITE+/SELECT/BYOC/WELLNESS PLUS/YES Prosperity Business Credit Card: Spend Rs. 50,000 in a quarter.

Please Note:

• The number of complimentary lounge accesses remains the same, subject to meeting the spending threshold.
• This threshold applies only for complimentary access to domestic lounges (within India).

YES Rewardz Points Redemption – effective December 1, 2024

1. Yes Private & Private Prime Credit Cards: Redeem up to 70% of the total invoice value or 6,00,000 YES Rewardz points (whichever is lower) per calendar month on flights and hotels.
2. For MARQUEE Credit Cards: Redeem up to 70% of the total invoice value or 3,00,000 YES Rewardz points (whichever is lower) per calendar month on flights and hotels.
3. For RESERV Credit Cards: Redeem up to 70% of the total invoice value or 2,00,000 YES Rewardz points (whichever is lower) per calendar month on flights and hotels.
4. For Other Credit Cards: Redeem up to 70% of the total invoice value or 1,00,000 YES Rewardz points (whichever is lower) per calendar month on flights and hotels.

Important: The above changes in YES Rewardz redemption are in addition to the existing cap of 50% of available YES Rewardz points when redeeming against gift vouchers and statement credit.

This move by Yes Bank was something everyone anticipated. After ICICI Bank’s similar change, I predicted that most banks would follow this trend of imposing high quarterly spending requirements for complimentary airport lounge access. Don’t be surprised if other banks also increase their spending requirements for lounge access—even RuPay now requires spending for lounge privileges.
I’ve posted a thread on “Free Airport Lounge Access Using Credit Cards: How It Works.” You can check it out for insights into why banks want you to spend to access free lounge benefits.
The 70% cap on reward point redemption isn’t new either; HDFC Bank introduced similar restrictions on their premium credit cards long ago. This change shouldn’t be a big issue, as most people use their Yes Bank reward points for gift vouchers anyway. In short, these changes were expected, and it’s likely that other banks will, unfortunately, follow this trend soon.

 

[akshayhs]

@Pavan no matter wherever you go, devaluation follows 🤣 /s

 

[cc_dc_explorer]

Pretty bad. I almost fought with Yes to upgrade my existing LTF Elite+ CC to Marquee. After a long hassle just got the card last week. Was planning to get add on for family members for lounge access. Now bcoz of this devaluation I'll use it till April and close it. I would have better kept my existing card which was LTF for offers.

 

[HumorSimpson]

 

[HumorSimpson]

@Pavan no matter wherever you go, devaluation follows 🤣 /s

jaha jaave Pavan
waha deval ki havan

 

[theXfactor]

Looking at the crowd at the lounges these days, it’s a welcome change in a way. Nevertheless, it’s not good to see some of the super premium cards losing their sheen and reduced to just basic paid cards. Some of the super premium cards have already been devalued severely in terms of bonus rewards capping, enhanced processing charges on vouchers, limiting vouchers of certain brands, capping redemption and so on.
HDFC has sneaked in another devaluation recently wherein if one receives an instant discount will see reversal of reward points on his/her card.
The day is not far where either the no. Of lounge accesses will get capped or lounges subject to spends will be introduced on super premium cards such as Infinia, DCB or MFB

 

[callsignmaverick]

While I do feel sad because this is technically a devaluation but I am also happy as lounges in metro cities like Delhi/Mumbai were turning worse than railway stations. This is a good thing in the long run.

Recently did an international trip via Delhi and Encalm lounge had a 20 mins line around 12AM in the night. It was so bad that we decided to eat at the food court and wait near the Airline gate itself. Luckily for domestic transfer had the Amex Centurion lounge (the other domestic lounge had the same issue - a very long queue).

What spend based criteria will also do is to either keep people completely away from lounges or stick to a particular credit card (which helps the bank). Also, this was bound to happen because in other countries lounge access isn't given away so easily.

 

[lijov]

From next FY. At least they gave sufficient advance intimation...

 

[PavanPavan is verified member.]

@Pavan no matter wherever you go, devaluation follows 🤣 /s

Am not going to apply any more cards 🙁 seems deval is running behind me

 

[pawanjenu]

I got my Marquee credit card last month, I still havnt been charged 10K fees, can I apply for closure and avoid 10K charges?

my Plan was to use the 40K rewards to buy some Gift vouchers, but seems like it will be at @0.1 rate.
can someone confirm if any gift voucher can be redeemed at 0.25 rate?

 

[theXfactor]

At some point, all cards will offer similar benefits and exclusions in their respective categories. Just enhance your relationship with one bank whichever you think have the kind of product suiting your needs better.

 

[Shoxie]

At some point, all cards will offer similar benefits and exclusions in their respective categories. Just enhance your relationship with one bank whichever you think have the kind of product suiting your needs better.

Not really. You should always be fliexble in your journey. Sticking to one card/bank will not help. Your lifestyle will also change over the years. So, whichever card suits your need at a particular point of time, you should always move ahead with it.

There's always a better car/bike that'll be launched right after you make a purchase. You cannot change your bike/car as often. But you can always change your cards based on needs.

 

[Dragon_slayer]

Empty lounges - here we go. 🙂

 

[theflash]

Empty lounges - here we go. 🙂

Only accept super premium cards for lounge entry. Give instructions to all the working executive to check if the card is in Super Premium list then only swipe and allow 🤣.

Just joking 😁.

Although I don't have any super premium card myself.

 

[pranjal1984]

Since Marquee conditional spends for lounge access is already declared, it is now only a matter of time before others join the party. Vanilla Magnus is already pruned. Only Eterna, HDFC Super Premium cards, Emeralde remain. Remember Yes was one of the first Bank to impose charges for utility bills exceeding a particular limit. And all other Banks followed it. Now Banks want stickiness among it's customers. The age of finding loopholes will be soon over as they are plugging them off slowly.

 

[diptarkaroy]

Since Marquee conditional spends for lounge access is already declared, it is now only a matter of time before others join the party. Vanilla Magnus is already pruned. Only Eterna, HDFC Super Premium cards, Emeralde remain. Remember Yes was one of the first Bank to impose charges for utility bills exceeding a particular limit. And all other Banks followed it. Now Banks want stickiness among it's customers. The age of finding loopholes will be soon over as they are plugging them off slowly.

There are lot of rupay cards still available in the market with generous lounge access having zero or close to zero annual fee

 

[Swastik]

Only accept super premium cards for lounge entry. Give instructions to all the working executive to check if the card is in Super Premium list then only swipe and allow 🤣.

Just joking 😁.

Although I don't have any super premium card myself.

Since Marquee conditional spends for lounge access is already declared, it is now only a matter of time before others join the party. Vanilla Magnus is already pruned. Only Eterna, HDFC Super Premium cards, Emeralde remain. Remember Yes was one of the first Bank to impose charges for utility bills exceeding a particular limit. And all other Banks followed it. Now Banks want stickiness among it's customers. The age of finding loopholes will be soon over as they are plugging them off slowly.

I'm pretty sure Emerald PVC is soon to get spend criteria as so many have acquired LTF and nobody is taking paid,
Emerald Private Metal on the other hand has higher hopes, seeing as there haven't been any reports of LTF sourcing so far

I'm afraid HDFC will follow suit soon enough, Reg Gold, DCB and Infinia might come up with spend criteria as well, they've given away plenty LTF as it is

BOB being a govt bank is more resistant to change, might hold out longer

 

[pranjal1984]

There are lot of rupay cards still available in the market with generous lounge access having zero or close to zero annual fee

Agreed Rupay select cards are generous as of now but I am mentioning Premium and Super Premium cards which charge a bomb and are slowly charging for complementary features. Who knows even the PSU Banks might bring in spend criteria for Rupay in near future

 

[TechnoFi]

Agreed Rupay select cards are generous as of now but I am mentioning Premium and Super Premium cards which charge a bomb and are slowly charging for complementary features. Who knows even the PSU Banks might bring in spend criteria for Rupay in near future

NPCI already implemented spend criteria for rupay credit cards to access exclusive rupay lounge situated at delhi international airport from next year onwards.

 

[theXfactor]

There are lot of rupay cards still available in the market with generous lounge access having zero or close to zero annual fee

My guess is that either the lounge accesses will be removed or associated with some spends criteria in the due course on such cards. Lounge access is a cost to the banks and is the most exploited feature. It’s give and take. Rupay cards offer limited rewards & benefits.

 

[pranjal1984]

NPCI already implemented spend criteria for rupay credit cards to access exclusive rupay lounge situated at delhi international airport from next year onwards.

Excellent so now it's even steven