YES Bank devaluation history — every nerf and buff, dated.

Marquee and Reserv exempt from the ₹100-per-redemption fee; card reissuance ₹100–₹200 by variant ₹100 fee on every redemption request, premium cards included, plus a ₹99 booking fee on YES Rewardz flights; reissuance ₹199; fuel-surcharge waiver window revised

The exemption that let Marquee and Reserv holders pretend the ₹100 redemption fee was someone else's problem is gone. From 15 June 2026 every YES card pays ₹100 per redemption request, and booking a flight through YES Rewardz — the only place the points are worth their ₹0.25 — stacks a ₹99 booking fee on top. On a card whose whole pitch is settling 4.5% online earnings in portal travel, YES now charges you twice at the exit.

Forex markup 1.75% on Reserv and YES First Preferred, 2.75% on Elite+, Essence, Select and Ace, 2.50% on Prosperity Business, 3.40% on the Prosperity/POP-CLUB/ANQ Phi tier From 15 Jun 2026: 2.00% on Reserv and First Preferred, 3.00% on Elite+ and Essence, 3.50% on Select and Ace, 3.00% on Prosperity Business, 3.50% on the Prosperity tier. YES Private, Private Prime (0.50%) and Marquee (1%) unchanged

YES Bank re-priced foreign spend across almost its entire shelf on 15 June 2026, and the size of the moves is not uniform — which is the point. SELECT went from 2.75% to 3.50%, a 75-basis-point jump in one step that takes it from below the Indian norm to exactly at it, and the product page still lists the markup as though it were a feature. Elite+ and Essence went 2.75% to 3.00%. Reserv and YES First Preferred, which share an MITC row, went 1.75% to 2.00% — still the best numbers on the mass shelf, but no longer what the reviews say. Only the top of the range escaped: YES Private and Private Prime hold 0.50%, the lowest markup on any Indian credit card, and Marquee holds 1%. A separate 1% dynamic-currency-conversion charge sits on top of all of them whenever a foreign merchant bills you in rupees. If you picked a YES card for its markup before June, check which number you are actually paying now.

1.75% + GST foreign-currency conversion markup on Reserv, Reserv (NRI), Reserv (FD) and the YES First Preferred family; 1% DCC markup on international transactions billed in rupees 2.00% + GST from 15 June 2026 on the same set of variants; the 1% DCC markup is unchanged

A quarter of a point, and it costs the Reserv the one line it could still win on. At 1.75% this was a genuinely cheap card to take abroad for a ₹2,499 door charge — inside the band where the premium ₹10,000-plus metal sits. At 2.00% it is merely normal: the same number Axis charges on the IndiGo Premium and Standard Chartered on the Ultimate, against a card that pays its points out at ₹0.25 in YES's own portal and ₹0.10 anywhere else. YES did not move Marquee (1.00%) or YES Private (0.50%), so the bank is deliberately re-spacing its ladder rather than raising prices across the book — the Reserv simply got moved down a rung. Read the table in the MITC and the direction is unmistakable: every variant below the Reserv rose too, Select and ACE hardest at 2.75% to 3.50%.

₹35,000 of quarterly spend unlocked domestic lounge access ₹1,00,000/quarter for Marquee and Reserv; ₹75,000 for First Preferred/Business; ₹50,000 for Elite+, Select and BYOC

The quarterly spend needed to keep domestic lounge access nearly tripled overnight — ₹35,000 to a flat ₹1 lakh on Marquee and Reserv. That's ₹4 lakh a year of spend just to hold on to a benefit the brochure still lists as complimentary. The unlimited international access survives, but the domestic doors now belong to YES's heaviest spenders only.

Government, marketing and advertising transactions earned reward points Zero points on those categories across Private, Marquee, Reserv, Elite+, Select and eight more; the overlimit facility dies 1 May 2025

Another quiet trim: from 1 April 2025, government, marketing and advertising payments earn nothing on thirteen YES cards, Marquee and Reserv included. A month later the bank switched off the overlimit facility entirely — transactions past your limit now simply decline. Individually small, but it's the fourth exclusion round in eighteen months, and the direction of travel is unmistakable.

Flights and hotels on YES Rewardz bookable fully with points Points cover at most 70% of any booking; monthly redemption caps of 3 lakh (Marquee), 2 lakh (Reserv), 1 lakh (others); finance charges hiked to 3.99%/month on many cards

The one redemption that makes YES Rewardz points worth ₹0.25 — portal flights and hotels — now legally cannot settle a full booking: 70% of the invoice is the ceiling, so every redemption forces cash out of your pocket alongside the points. Monthly caps (3 lakh points on Marquee, 2 lakh on Reserv) box in the big balances, and finance charges quietly climbed to 3.99% a month. The earn rates YES advertises didn't move; the exits all narrowed.

No YES Bank super-premium card since the bank's 2020 reconstruction Marquee: ₹9,999 joining, 36 RP/₹200 online (18 offline), unlimited international lounge for primary and add-on, 6 domestic visits a quarter, 1% forex

YES Bank's statement that it intends to matter again: 36 points per ₹200 online is a 4.5% headline at the portal travel value, wrapped in unlimited international lounge access and 1% forex for a ₹9,999 door charge. The catch was visible on day one — the points settle inside YES's own ecosystem at ₹0.25 against travel, ₹0.10 as credit, with no real airline exit. The earn side embarrassed the establishment; the burn side was always the bet.