Yes Bank Exclusive - Annual fees

[vikramv4u]

Hi,

I have a Yes Bank Exclusive card with an annual fee of Rs. 10k + GST.. When I see that the current Yes Bank Exclusive card is actually charged at Rs. 1999 + taxes, it makes me cringe that I am paying soo much as annual fees.. talking to customer care has been a useless experience as they are of no help.. writing to Yes Touch has elicited no response.. in an ideal world, i would like to convert to the current annual fee model... now my due date to pay is 5th.. what shall i do? Anyone having had a similar experience?

 

[RupayMan]

Raise closure request before bill date and state the reason as overcharging

 

[vikramv4u]

Raise closure request before bill date and state the reason as overcharging

Thank you for the quick response.. I have a lot of points there . So should I first apply for redemption? That's the no brainer i guess.. but is it too short a time frame for redemption? Today is 3rd.. due date is 5th

 

[RupayMan]

Thank you for the quick response.. I have a lot of points there . So should I first apply for redemption? That's the no brainer i guess.. but is it too short a time frame for redemption? Today is 3rd.. due date is 5th

Redemption can be quicker is any card isn't? Also compared to your 10k charges vs 2k charge, do you need to spend 8k more for keeping the redemption points? Could that be worth?

 

[Andy1]

Redeem Points then raise a request to level 2 for reducing charges as per current scenario

 

[drakesri]

If you have any outstanding on that card, repay first. Reedem your existng points, and once you receive confirmation on successful redemption place a request for card closure. You may get call from retention team where you can demand LTF/2k fees.

 

[anirban.choudhury]

I would suggest , close the card , their reward points are useless.
The card is not even worth 2k , almost everyone who has YFE , have it LTF .
Only keep it if retention team offers LTF

 

[vikramv4u]

Thank you all for your suggestions.. value those.. Spoke to Yes Bank - they refused the waiver.. in fact despite card closure request, they said i need to pay the annual fees as it's for the previous 12 months, so he suggested that I may as well keep the card and cancel it in Dec (when my annual existence refreshes, though the annual fees are reflected in the card in Feb).. i asked for the correct email id and sent them a mail requesting for a waiver and to my surprise i received a reply with a positive 7k waiver.. this still needs execution.. but wanted to update each one of you.. Thank you again!!

 

[drakesri]

Thank you all for your suggestions.. value those.. Spoke to Yes Bank - they refused the waiver.. in fact despite card closure request, they said i need to pay the annual fees as it's for the previous 12 months, so he suggested that I may as well keep the card and cancel it in Dec (when my annual existence refreshes, though the annual fees are reflected in the card in Feb).. i asked for the correct email id and sent them a mail requesting for a waiver and to my surprise i received a reply with a positive 7k waiver.. this still needs execution.. but wanted to update each one of you.. Thank you again!!

Great News, but it might repeat again next year. Its best to close this card 1 month before card anniversary or demand LTF/2k fees. If they dont agree better to close and reapply if you are really interested on this card.

Just to avoid unnecessary negotiation with customer care.

 

[junaidbasha10]

Which card variant is best visa or Mastercard for yes bank first exclusive card ?

 

[sxchzy]

mastercard

Which card variant is best visa or Mastercard for yes bank first exclusive card ?