Credit cards have become a vital mode of transaction in the current landscape. You can pick from a diverse selection of credit cards through multiple lenders. YES Bank offers a range of credit cards.
The below are the basic eligibility criteria to apply for YES Bank credit card.
You can either be salaried or self-employed.
Your age must be between 21 years and 60 years.
Your net monthly income must be at least Rs.25,000.
Your Income Tax returns must be Rs.5 lakh or above.
Here are the Credit Card Eligibility Criteria for Top YES Bank Credit Card
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
Driver’s license
NREGA Job Card (if applicable)
A letter from National Population Register
Passport
Voter Identity Card
Ration Card
Permanent Account Number (PAN) card
Form 60 (if PAN card is not available)
Aadhaar Card
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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My existing card limit is good but in YES bank card limit is low of 32K informed to banker but no proper response from their end. It is a life time free card. The customer service is not up to the mark. I got a card offer based on eligibility and received the card within one week.
YES bank has offered a life time free credit card and they given a very less credit limit of Rs. 15k need to increase the limit and they should give atleast 2 to 3 times of my salary. The verification process was done on time but they took 2 weeks to deliver the card.
Document was very simple in YES Bank for credit card, i uploaded all my documents through online and i received this card within a week. Credit limit is sufficient and good they given a free card. I started using this credit card, mostly i am using for online shopping. I never contacted the customer service.
For the additional card purpose, i had took the option from YES bank credit card. They have sent me a mail stating that I'm not eligible to get this card and i received the mail 3 weeks back. They didn't do any proper follow up. I have no idea about the credit card benefits. There was a annual fee for the first two years.
I have applied YES Bank credit card through online. I have not availed this card since not an eligible based on bank criteria so they told need to apply for another credit card.The agent has shared all the required information about the card process. I have not submitted any of my documents.
I have applied a credit card with YES bank through online. I received a call on time from banker for further process. Already I intimated to banker that I am not getting salary slip. Due to this reason they closed the card process from bank. I am not aware whether its free or annual fee .
I have applied YES Bank credit card through online and this is my first card. They are asking me to submit salary slip or IT returns, but I unable to provide payslip since i am doing business and not filing IT. Due to this reason the card process was closed by bank side.
YES bank credit card is free of cost and there is no hidden charges on the card hence i have availed this card. The agent explained me about the features of the card. They have sanctioned the credit limit of Rs. 15000 which is not enough for me when i compared to my salary. I get a fuel waiver and some percentage of discount when i purchase through Amazon.
YES bank credit card is excellent. I had applied the card through online and based on my eligibility they have provided the card after submitting all the documents. Mostly I'm getting discounts on Amazon, flipkart, purchase of grocery, restaurants. I need to pay the annual fee of Rs. 899 which will get refunded once i use for certain limit.
I have shared my document which was asked by executive and post that no response from Yes bank. It should not be the way with the customers. They must inform and provide a proper response about my application, in future I will not trust Yes bank for any transaction.
I have applied YES Bank credit card through online. Salary slip is unavailable and i have only bank statement which they are not accepting. I got a verification call from bank end they said without payslip couldn't process this card hence it was cancelled.
My YES Bank credit card limit is very less they given Rs. 15k. This is a life time free card, my salary is in this bank based on that i got this card offer. Mostly i use this card for shopping, customer service was good some times due to down time not able to use net banking but otherwise service was good.
I hold the credit card from YES bank. When the executive came to my place for opening the salary account, they have provided me a YES bank credit card. Every month, i used the card only purchases and i have never seen any offers till now. Its a zero annual charges card and they have offered me a credit limit of Rs. 38000.
Purchased my credit card from YES bank and i have a salary account from YES bank so that i have selected the same. They have given me a credit limit of Rs. 22000 and I didn't check about the annual fee. They are keep on posting so many offers to my mail id. They have provided me a 500 rewards points as a joining benefits.
Since my salary was low and YES BANK credit card application was rejected. The joining fee is free and its a life time free credit card so that i have chosen this credit card. I'm not aware of the benefits provided by YES bank. There is a proper follow up from the bank side.
I have applied for Yes bank credit card through online. I received the call from bank executive for verification and stated my profile is not suitable due to low salary package. Hence, my application is not processed. The response from bank executive is good.
I have applied Yes Bank credit card through Online.I have not availed this credit card since no payslip because I am getting salary via cash .Other than that i am holding all documents. So from bank end callback and follow up was there .Each and every update about this credit card was shared by the agent .
I have applied for Yes Bank credit card through online .I have not availed this credit card since salary was less not processed from bank end .I have not faced any issues so far and not yet submitted any of my documents .The agent clearly explained the whole process about the credit card .
I have applied for Yes Bank credit card through Online. Previously got the information that i am eligible for this credit card later bank executive told me not eligible since my salary was very less hence unable to process for this credit card. Overall, I am not satisfied with the service.
I have applied YES Bank credit card through online.They didn't follow me to collect the documents, so i got an offer from other bank i applied there. Yes bank customer service was good, am gonna open my salary account with this bank shortly so i applied for a card which was cancelled.
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