Can You Prosper With The Prosperity Cashback Plus Card?
With the launch of YES Bank Prosperity Cashback Plus Card, the bank has given its customers an option to earn additional cash back for their regular transactions. You can get unparalleled safety and convenience of cashless payments along with getting your cash back as soon as the statements credit.
The eligibility criteria
You have to fulfill the following conditions to be eligible for YES Bank Prosperity Cashback Plus Card:
Minimum age of 21 years and the maximum age of 69 years
Self employed or salaried
Annual income or minimum gross salary must be Rs. 5.5 lakhs
Benefits of YES Bank Prosperity Cashback Plus Card
Let us review the benefits of this card:
Cashback for welcome
If you spend up to Rs. 2500 within a month or 30 days after your card is activated, you are granted a welcome cashback of Rs. 250.
EVEN MORE Cashback!
You can have 5% cashback when you spend on payments of utility bills if you pay through YES PayNow
5% cashback when you spend on groceries
5% cashback on booking movie tickets
The bank also gives you 0.75% cashback for all other retail expenses other than fuel.
Preferential Foreign Currency Markup and Preferential Rate of interest on revolving credit
There is preferential rate of interest for revolving credit.
3.4% is the preferential foreign currency markup.
2.40% is the monthly rate of interest or 28.80% is the annual rate of interest on revolving credit, if you are a cardmember with YES bank savings or salary account.
3.22% is the monthly rate of interest or 38.64% is the annual rate of interest on revolving credit, if you are a cardmember without YES bank savings or salary account.
Waiver of fuel surcharge
Love to drive? Then you’ll love this thoughful perk. Surcharge on fuels is waived at all stations throughout India for expenses ranging between Rs. 400- Rs. 5000.
Coverage for insurance
You get a credit shield of Rs. 1 lakh if you are the primary cardholder. It is benefits like this that make the annual fee completely worth it, as you’ll never know when you might need the value of the insurance. You are covered for the unexpected.
You can secure the online payments you make with MasterCard® SecureCode™ with the help of a 3D password.
Things to note
The 5% cashback is applicable only for transactions costing Rs. 500 and more. The total amount of cashback for groceries, movies, and bill payments via YES PayNow has a ceiling of Rs. 100 per cycle of statement per segment.
The 0.75% cashback is applicable for retail spending only. It is not applicable for fuel expenses.
The total waiver for fuel surcharge has a ceiling of Rs. 125 in a cycle of statement
Charges for YES Bank Prosperity Cashback Plus Card
The annual fees for membership
There is a membership fee of Rs. 1500 along with applicable taxes for the first year
There is a fee of Rs. 1500 for membership renewal along with applicable taxes
You might require money urgently at some point of time. The feature of instant EMI on your YES Bank Prosperity Cashback Plus Card. Whenever you spend with EMIs, you can also earn reward points for your transactions converted into such EMIs.
You do not need to submit any documents
No fees for processing
Repayment option for 3 to 24 months
Convert your transactions beginning from Rs. 2,500 only
The rate of interest varies from 12% to 15% per annum
The Verdict On The YES Bank Prosperity Cashback Plus Card
The YES Bank Prosperity Cashback Plus Card is great for those who spend a lot in groceries, shopping, movies, fuel, etc. Though it shares much of the same features as other cards on the market, you can really benefit more if you currently bank with YES bank primarily. You can earn a lot of cashback by using your credit card for these transactions. Moreover, the EMI scheme of the bank is an added bonus for urgent needs. The extra attraction about this card is the insurance cover of Rs. 1 lakh for the primary cardholder, which is not found in many other credit cards. In short, you can apply for this card if you have significant monthly expenses. You can apply for the card right here.