The minimum income required for this card is Rs.25000 Per Month
IT Returns: Rs.5 lakh and above
Documents required by individuals for a YES Bank Credit Card Application
Look at below for the basic documents required to apply for Yes Bank Credit Cards,
Proof of identity and address
NREGA Job Card (if applicable)
A letter from National Population Register
Voter Identity Card
Permanent Account Number (PAN) card
Form 60 (if PAN card is not available)
Factors that affect your YES Bank credit card eligibility
There are many factors that affect your YES Bank credit card eligibility criteria. Some of the factors are as follows:
Age: Your age can affect your credit card application eligibility. While issuing a credit card, lenders look for credit score and a good credit history, if you are too young and do not have a credit history, lenders will not be able to assess if you are a responsible borrower. In this case, your credit card may be rejected or you will get a basic credit card with a low credit limit. If you are planning on applying for a credit card, consider establishing your credit history first.
Income: The minimum income criteria set by the bank is one of the most important eligibility criteria you must meet. Your credit card application will be rejected your monthly income is less than the minimum income set by the bank. Therefore, it is very important to explore various credit cards available in the market and choose the one that suits you.
Gross monthly debt: When credit card providers check your credit score, they will be able to see your existing lines of credit. If your monthly debt amount is high, it will affect your credit card application negatively. Most lenders calculate the Debt-to-Income (DTI) ratio where the total debt amount is divided by the total monthly income. If you have a high DTI ratio, your credit card application may be rejected as it indicates that you may be not capable of paying your future payments.
Credit score: One of the first things a credit card provider will do as soon as you submit the application form is to check your credit score. A credit score may range anywhere between 300 to 900. All lenders prefer applicants with high credit score of 750 and above. A low credit score indicates that you do not have a good credit history and decreases your creditworthiness. Before applying for a credit card, check your credit score. You can get a free copy of your credit report every year from each of the credit reporting agencies in India, namely Equifax, TransUnion, and Experian. If you have a low credit score, apply for a credit card only after your score has improved.
Multiple applications: It is very important to compare various credit cards available in the market to choose the right one that suits your requirements. However, if you apply for multiple credit cards you like, the lenders will be able to see all the hard enquiries made by you. This will make you look like a needy borrower in the eyes of the lenders. Therefore, while applying for a credit card, finalise on one card and apply for it. Do not apply for another credit card while one credit card application is being processed.
How to improve your YES Bank credit card eligibility
If you feel that you are not meeting the eligibility criteria set by the bank to apply for a credit card or if your credit card application was rejected, there are many ways you can improve your credit card eligibility. Some of the ways you can improve your credit card eligibility are as follows:
Watch your credit score: You can improve your credit card/loan eligibility by increasing your credit score. Lenders give a lot of importance to your credit score. If you have a low credit score, consider closing your existing loans, paying your bills on time, or clearing your existing credit card balance. When you make healthy financial changes, your credit score will improve. After you have closed any line of credit, check your credit score after a month for the updated score. Apply for a credit card after your credit score increases.
Do not default on your payments: When your credit card application is being processed, make sure you pay all your bills on time. Your credit card provider will be able to see if you default on your payments and might reject your application if you are not a prompt payer.
Say no to multiple credit card applications: As mentioned earlier, avoid making multiple hard enquiries while you have submitted a credit card application with one bank. This will make you look like a desperate borrower.
Some other ways you can improve your credit card eligibility are as follows:
Maintain a good Debt-to-Income ratio.
If you have an existing credit card, maintain a good credit utilisation ratio and pay your bills on time.
Avoid cheque bonuses, late fees, and penalties on all your active lines of credit.
Consider increasing your income and reducing your total debt to get better credit card deals.
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The services are good from YES BANK and have taken the credit card through online channel. The credit limit is average and they need to concentrate on this. There is no annual fee and its almost a month. I am yet to receive my first statements and the executive came to my place for document collection.
I opted for a life time free card in the app, based on my profile, i was eligible for a yes bank card. Till now i didn't use any extra benefits. Its having a normal credit card feature and i don't get any ticket offer. Approximately it took 1 month to receive a card.
I have selected yes bank propriety rewards edge credit card past 5 month.Its is life time free credit card.There is no sufficient limit is provide.I can able to pay all utility bills . While transaction through online i will receive rewards point . while Document submitted through executive.customer service is good and response. EMI option is applicable.
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Reviewed on Aug 19, 2019
I have selected yes bank first premium credit card mobile application user is not friendly application past 4 month ago using this credit card .Its life time free credit card , sufficient limit provide from banker end.while document submitted through on line there is delay while receive credit card
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DHARMARAJU CHANDRASHEKAR RAJU
Reviewed on Aug 19, 2019
I have selected yes bank prosperity rewards edge credit card past 3 month.Its is life time free credit car.There is no sufficient limit is provide from banker end .There is no cash back offer and no rewards points .while document submitted on line as well executive .Customer service is not good.
The card is a life time free card and the card experience is good. Since my expenses are high, i have closed the card. The given credit limit is 2* times more than my salary. I called the call centre to close the card. When i have given the request, they said that it will get closed after 60 days.
YES Bank was fast in the process for a credit card. I received my card in five days after document submission. The credit limit is less. They should inform the customer the limit and if the customer is satisfied , they should the card. It is a free card.
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Reviewed on Jul 29, 2019
YES BANK is given me a life time free credit card. I have received a welcome kit and it has the interest rate and charges structure, its par with the market rate. They have provided me a limit of 30K where as am holding other cards with limit of 1L which is not useful for me. Even my salary is more than that and am maintaining a good credit card so am highly not satisfied with Yes Bank.
I have selected yes visa bank credit card before 1 months , Customer service is good and responsive . while swipe credit card Rs 10,000 add to paytm,From Customer care informed that EMI option applicable .life time time free credit card , while transaction rewards points and cash back offer, while document executive there is no delay credit card . Sufficient limit is provide from banker end.
I applied the yes bank credit card through online and i have submitted the documents as well after that i got mail from yes bank stating that my application got rejected due to less salary. After 1 month i received a call from them regarding the credit card.
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Reviewed on Jul 23, 2019
I have selected PROSPERITY REWARD PLUS CARD pat 1 month ago, annul charge rs 299, while transaction rewards point.While document through online , there is no delay receive credit card .Customer service is good and responsive. All notification message
Because of the better features and their customer care service, I have purchased the YES bank credit card. I get a rewards points on this card and the cashback is very nice. They have provided me a credit limit of Rs. 1 lakh on this card and its a life time free credit card. They have sent me a card in 5 working days to my residential address. The executive came to my place to collect the document.
I am using the salary account since from last 1 year with YES BANK where there are no charges applicable with the bank services. The online baning is good also it is good to use. The customer support is good and they are responsive, the overall service is good.
I have selected yes bank prosperity reward edge credit card using before 1 month ago, while transaction no rewards points Its is life time free credit card .Customer service is good and EMI option is applicable .All notification message and email . While document submitted through executive . There is no delay to get the credit card
I have applied for Yes Bank credit card through Online .I have got all the required information about the card process clearly through the agent .I have not taken this card since dont have proper Pay slips that was the main reason .Since this document was not there unable to get the card .
2 months ago, i have applied the YES bank credit card through online and the executive called me to collect the documents but at the particular date, i was not available on city after that i have given different date and time but those executive has not come because there was a issue on my salary slip because its not generated automatically, after that i was not interest in YES bank credit card.
I have applied credit card through Yes bank. I am doing business they asked me to submit ITR which i dont have and my salary was very less so they have canceled my credit card application. But without wasting any time they informed me from my end they are responsive and service is good.
I have taken a YES Bank credit card and the process was on time. The credit limit is good. It is a life time free card. The process to get the card is good and on time. The customer support and response is good and in all I have no hassles for the document submission too.
I have applied for Yes Bank credit card which was applied through Online .I have got all the required details about the card process ,I have got all the details about the card process through the agent .I have not got the salary slip at that time so not taken this card .I have not faced any drawbacks when applied for this card .
Holding a salary account with YES BANK is Great. The service provided by them is good. Usually every transactions happens smoothly over the net-banking so hardly i go to the bank. Internet banking is much user friendly. Till date never ever had any issue in any of the transactions. Overall it is good .