Yes Bank Reserv + 3X Subscription Plan

[legend.sudsier]

Hi everyone,

I am looking for a new card to complement my Infinia. The main goal is to increase the rewards rate for a few lakhs of donations towards NGOs (both Indian and International). BOGO on movies, and rewards on rental and UPI transactions will be great to have but not necessary.

I recently came across the YES Reserv card, along with the 3X subscription offer for all spends. The following is how I see the reward rates:

• 9% Points on Online Shopping (except on Select categories)**
• 4.5% Points on Offline Shopping (except on Select categories)
• 2.25% Points on Select categories

Assuming 25 paise per RP redemption rate, for flights and hotels.

The 9% rewards rate seems just too good to be true. Can anyone confirm? If it is indeed true, then why is this not the most talked about card for Forex transactions?

P.S: I don't mind paying the annual fee given the rewards.

 

[drsel]

Also the 5x subscription plan gives good returns for FOREIGN SPENDS--

1. foreign online for travel, dining, fashion and Healthcare
9.00--2.07 forex markup

2. foreign offline/POS/swipe for travel, dining, fashion and Healthcare
7.50--2.07 forex markup.

Easily the highest return on foreign spends and very easy to earn a lot more than the subscription fee 5900.

So overall Yes Reserve 5x or 3x is better than Marquee, because it also gives adequate Lounge access, (but not unlimited)

 

[ARV]

where's the option to enter income when applying on Yes bank's website? It just gives me No income docs required(Surrogate Program) after entering company name and address.

Even i did not get the option, they are directly taking details from CIBIL

 

[CardCraftsman.]

This is for those whose company is pre-approved
if you are self employed or in business then you have to show your income

No brother, everyone including self employed gets this option but if you are self employed then you will get one more option of submitting income docs ie ITR.

 

[drsel]

No brother, everyone including self employed gets this option but if you are self employed then you will get one more option of submitting income docs ie ITR.

So for self employed, is the submission of income tax returns mandatory or optional?

 

[SSV]

So for self employed, is the submission of income tax returns mandatory or optional?

No need of submitting anything.
It just tallies from your CIBIL profile and decides your application fate..
This is purely based on CIBIL surrogate..
You still need to provide your personal and professional details.. it does check all these in background with the help of CIBIL profile..

There is no concept of preapproved for some salaried .. employers etc as you claimed

 

[CardCraftsman.]

So for self employed, is the submission of income tax returns mandatory or optional?

No need of submitting anything.
It just tallies from your CIBIL profile and decides your application fate..
This is purely based on CIBIL surrogate..
You still need to provide your personal and professional details.. it does check all these in background with the help of CIBIL profile..

There is no concept of preapproved for some salaried .. employers etc as you claimed

Actually, i am telling about the option of submitting ITR. So, if you are self employed, you will get both the option (either income docs or cibil) and you can select any depending upon you.

 

[drsel]

I am tempted to apply for Yes Reserve 5x for foreign spends--nearly 7% return on travel dining fashion healthcare

 

[SSV]

I am tempted to apply for Yes Reserve 5x for foreign spends--nearly 7% return on travel dining fashion healthcare

Have you got yes reserv?

 

[SSV]

Actually, i am telling about the option of submitting ITR. So, if you are self employed, you will get both the option (either income docs or cibil) and you can select any depending upon you.

Understood. . I was taking about salaried and self employed with cibil surrogate..

Either way we can't choose the card we want, it picks the card for us based on their algorithm which is predominantly based on cibil

 

[drsel]

Have you got yes reserv?

No I got Yes First Business which is lifetime free, giving airport lounge access

 

[SSV]

No I got Yes First Business which is lifetime free, giving airport lounge access

In this case, first get Resrv, as we all know it's not what we want we get it's what they want to give us..

 

[drsel]

In this case, first get Resrv, as we all know it's not what we want we get it's what they want to give us..

Right, in any case I have Magnus burgundy and Atlas, so I don't need Marquee because I have unlimited Lounge access all over the world.

I would also not use Marquee because of the lower returns of 4.50% Indian online and 3.32% foreign online. (Although for most people a positive 3.32% net return on foreign online spends is fabulous! )
Many are happy with just a zero % forex card

 

[Harry1]

19 is yesterday based on my calendar then it will take 2 working days, mostly in bad case Monday.

If you have plan, you should activated a way earlier..

Anyway confirm with customer and see if possible to activte today itself.

How does subscription bonus points credit work?

I saw you mentioned it is calander month based. So, if billing date is 15th, Bonus 2x of 1st-31st January will be posted after bill generation on 15th February.

But does it depend on transaction settlement date or transaction date? Say a transaction of 30th Jan settles on 1st Feb, then it's bonus 2x will come on 15th February or 15th March?

 

[helloworld]

How does subscription bonus points credit work?

I saw you mentioned it is calander month based. So, if billing date is 15th, Bonus 2x of 1st-31st January will be posted after bill generation on 15th February.

But does it depend on transaction settlement date or transaction date? Say a transaction of 30th Jan settles on 1st Feb, then it's bonus 2x will come on 15th February or 15th March?

settlement date or most accurately the date we're seeing in statement for that transaction.

 

[pgarg24]

How does subscription bonus points credit work?

I saw you mentioned it is calander month based. So, if billing date is 15th, Bonus 2x of 1st-31st January will be posted after bill generation on 15th February.

But does it depend on transaction settlement date or transaction date? Say a transaction of 30th Jan settles on 1st Feb, then it's bonus 2x will come on 15th February or 15th March?

It is not calender month. Its statement month*

 

[Harry1]

settlement date or most accurately the date we're seeing in statement for that transaction.

Statement date is mostly transaction date only.

 

[helloworld]

Statement date is mostly transaction date only.

basically for me it goes ..

Ex:
Dec'23 - I received a statement and received only 1x points for this statement.
Jan'24 - I received another statement which contains 1x point for this statement and 2x points from Dec 1-31.

In anycase, I have to wait till statement generated to get bonus points. If that purchase happened on 1st Jan, then I remove that from my calculation which matches the reward points calculation.

So, never actually checked which date they considered because anycase it has to be present in statement which means it must be settled. Hence, settlement date or the date we're seeing in statement for that transaction.

 

[Harry1]

basically for me it goes ..

Ex:
Dec'23 - I received a statement and received only 1x points for this statement.
Jan'24 - I received another statement which contains 1x point for this statement and 2x points from Dec 1-31.

In anycase, I have to wait till statement generated to get bonus points. If that purchase happened on 1st Jan, then I remove that from my calculation which matches the reward points calculation.

So, never actually checked which date they considered because anycase it has to be present in statement which means it must be settled. Hence, settlement date or the date we're seeing in statement for that transaction.

One more thing. I know you would not have tested this, but just asking your views.

There is limit of 36K for 24/200 points on online spends. So, after 3L online (It may be 6L, if they are counting only extra 12 points here under 36K), it will turn to 12 points or zero? Also, I assume 12/200 on offline and 6/200 on select categories are not counted in 36K limit. And this limit is calculated based on statement cycle i.e. 15th-14th if 15th is statement date.

For Bonus points limit of 75K, it is only on remaining 2x extra points excluding the base points. So, 24/200 on online, 24/200 on offline and 12/200 on select will contribute towards this 75K. And this limit is calculated based on calander month i.e. 1st-31st of previous month if 15th is statement date.

Does this sound right?

 

[amit]

fuel and wallet spends?

 

[Deleted member 23535]

is yesbank gyftr txns gives 4.5% rp for marquee cc ?