YES Bank caps travel redemptions at 70% — a 30% haircut
YES Bank now caps travel redemptions at 70% of the invoice, forcing cardholders to pay the remaining 30% in cash, with monthly redemption caps and increased finance charges. This devaluation affects all YES Bank credit cards, including Marquee and Reserv.
YES Bank has introduced a cap on travel redemptions, limiting points to cover at most 70% of any booking. This means cardholders will have to pay the remaining 30% in cash. The cap applies to flights and hotels booked through the YES Rewardz portal. The new policy also includes monthly redemption caps, with Marquee cardholders limited to 3 lakh points, Reserv cardholders limited to 2 lakh points, and other cardholders limited to 1 lakh points. Additionally, finance charges have increased to 3.99% per month on many cards. Our take: With this devaluation, YES Bank credit cards have become less attractive for travel rewards. Cardholders should reconsider their redemption strategies and explore alternative options. If you have a large points balance, try to redeem as much as possible before the monthly caps limit your redemptions. Otherwise, it may be time to look for better travel rewards cards.