YES Bank Credit Card Updates Startling Changes from April 1
Yes Bank is set to implement new credit card regulations from April 1st, allowing for increased spending limits on utility bills and transportation costs without additional fees. However, stringent spending caps remain in effect.
Highlights
- •- Increased Spending Limits for Utility Bills and Transportation Costs
- •- Capped Maximum Transaction Charge at Rs 5,000 per transaction
- •- Digital Wallet Fees Apply for Adding Money to Third-Party Wallets
- •- Premium Card Caps Stay at Rs 50,000 while Other Cards are Limited to Rs 25,000
Yes Bank has unveiled sweeping updates for its credit card customers. Effective April 1, these new regulations aim to enhance spending flexibility while keeping fees intact.
The update primarily focuses on utility bill payments and transportation costs, with loading digital wallets entering the fold. Spending limits have been raised across various categories, allowing more flexibility without additional charges up to a certain point.
For Yes Bank's premium cards like Marquee and Reserve, spending limit thresholds will be Rs 50,000; other Yes Bank credit cards are restricted within Rs 25,000 per billing cycle.
The introduction of transportation fees for tolls and bridges has sparked a minor restructuring in how these charges are categorized. Exceeding the set monthly limits on such transactions will incur a fee of 1% plus GST. All transactions over Rs 5,000 will be subject to this charge cap.
For adding money to your digital wallets using a credit card, Yes Bank has placed specific rules in place. Transactions below Rs 2,000 are free; exceeding this amount will demand a 1% plus GST fee up to a maximum of Rs 5,000 per single transaction.
