Credit Card Reviews

Review Of The YES Bank Prosperity Cashback Plus Card

Review Of The YES Bank Prosperity Cashback Plus Card
Jay Kaul
Written by Jay Kaul

Can You Prosper With The Prosperity Cashback Plus Card?

Review Of The YES Prosperity Cash Back Plus CardWith 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.

MasterCard® SecureCode™

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

Instant EMI 

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.

About the author

Jay Kaul

Jay Kaul

Jay is a financial and credit expert and freelance contributor to CreditSmart. He's always keeping his eyes open for the latest credit card trends in India and provides a sharp insight on new entries into the market.

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