Another Credit Card from Yes Bank Stable. Yes Bank Prosperity cashback plus card is a Mastercard platinum card.
- Annual Fees: ₹.1500
- Welcome benefits: ₹.250 cashback on spending ₹.2500 within 30days of card setup.
- 5% Cashback on movie tickets bookings. Min spend ₹.500 max cashback ₹.100
- 5% Cashback on grocery shopping. Min spend ₹.500 max cashback ₹.100
- 5% Cashback on Utility bill payments via Yes Paynow. Min spend ₹.500 max cashback ₹.100
- 0.75% Cashback on all Other retails spends (non fuel transactions).
- ₹1 lac credit shield.
- Max cashback of ₹.125 in a billing cycle. what?
I think this card is to compete against Citibank cashback card. However annual fees is not justified in comparison to the benefits offered.
₹.1500 is max cashback you can earn in year & you pay ₹.1500 annual fees on this so where is the value?
What was Yes bank thinking to launch a product like this? Atleast put in some spend based waiver for annual fee. Even I earn full Rs.1500 cashback which equals annual fees. Still I am paying service tax on that annual fees from pocket.
Verdict: Consider it a card without any reward.
Instead you’ll be paying from pocket to use this card. Get it only if annual fee is waived.
Better get a secured card like Yes Preferred secure card or SBI Prime advantage card.