YES BANK Anq Phi Credit Card
Financial Expert Advice
Choose Your First (or Next) Credit Card Wisely
"Limit yourself to holding two credit cards A/C—one for daily expenses and auto-debits, and another reserved for emergencies.
Avoid chasing cashback, miles, rewards or Investments, as this can distract from sound financial management;
and lead to unnecessary debt. Focus on stability & discipline."
YES BANK Anq Phi Credit Card Review
Introduction
The YES BANK Anq Phi Credit Card is a powerful entry in the fintech credit card space, tailored for users who crave high rewards on everyday purchases, digital subscriptions, and modern lifestyle categories. Co-created with ANQ Finance, this card is designed for online shoppers, frequent travelers, entertainment lovers, and anyone seeking flexible redemption with no joining fee. With top-of-market accelerated rewards and accessibility for urban professionals, it's a highly attractive choice for savvy spenders seeking maximum value without annual hassle.
Key Features and Benefits
Reward Structure
24 reward points per ₹200 on the following categories: travel, hotels, dining, fast food, groceries, supermarkets, apparel, digital/OTT subscriptions, cable, and entertainment (≈3% rewards rate).
4 reward points per ₹200 in other select categories.
No cap on reward earning; unlimited points accrual*.
International Lounge Access
3 complimentary visits per year to global airport lounges (Mastercard network).
Instant EMI
Shop freely and convert purchases above ₹1,500 into EMIs with your YES BANK Credit Card—zero documentation, flexible tenures (up to 36 months), 16% interest p.a., and a processing fee of ₹249/₹399. Available at 80,000+ stores and online partners.
Post Purchase EMI
Convert eligible YES BANK Credit Card spends to EMIs via app, net banking, or customer care. Tenure: 6–36 months. Interest: 11.99%–30% p.a. Jewelry, cash, and fees not eligible. EMI includes GST, billed monthly. Previously called ‘EMI on Call’.
Quick Loan
Get a pre-approved Quick Loan on your YES BANK Credit Card with no paperwork, 13–30% interest, and flexible tenures (6–36 months). Funds are transferred instantly to bank account. Apply via app, net banking, or phone banking. No guarantor or cheques needed.
Fees and charges
| Category | Details |
|---|---|
| Joining Fee | ₹0. |
| Renewal Fee | ₹499 + taxes (waived on ₹1,20,000 annual retail spend). |
| Interest Rate | 3.99% per month (47.88% annually) on revolving credit, cash advances, dues. |
| Rental Transactions | (max 5 per 30 days): 1% of value, with a minimum of INR 1 (for trx up to INR 1,000) or INR 199 (for trx above INR 1,000). |
| Wallet Transactions | 1% or ₹1 (min) on spends above ₹1. |
| Utility Charges | 1% + GST on monthly spends above ₹15,000; capped at ₹3,000. |
| Education Payments | 1% + GST via third-party apps; capped at ₹5,000/month. |
| Fuel Charges | 1% + GST on spends > ₹10,000; capped at ₹5,000/month. |
Struggling to keep up with mounting credit card bills?
Card Essentials
| Type | Reward Points |
| Welcome Benefits | n/a |
| Annual Fee | ₹499 + GST |
| Reward Structure | Rewards on Eligible SPENDS |
| Renewal Benefit | Spend ₹1,20,000 annually, get your renewal fee waived. |
Rewards and Benefits Analysis
Best for Digital-First Spending:
24 points/₹200 in high-reward categories clearly outpaces typical cards—great for users who spend frequently on OTT subscriptions, dining, travel, and lifestyle.
4 points/₹200 for other purchases ensures versatility—no wasted spends.
Unlimited point accrual appeals to higher-volume spenders.
Real-World Value:
₹20,000 monthly spend in top categories = 2,400 reward points (worth up to ₹600 in value).
₹1.2 lakh annual spend triggers renewal fee waiver, easily achievable for many.
Limitations:
Accelerated points do not apply to fuel, rent, wallet loads, certain government/category spends.
Forex markup fee is 3.4%, which is higher than top-tier travel cards.
Practical Considerations
Costs & Charges:
No joining fee.
Annual fee ₹499+taxes, waived at ₹1.2 lakh annual spend.
Interest charges: 3.99% p.m./47.88% p.a. on carried balances.
Reward redemption fee: ₹100 + GST per request.
Cash advance: 2.5% or ₹500, whichever is higher.
Currency markup: 3.4%—not the best for international transactions.
Eligibility Criteria:
Age: 21–60 years.
Minimum income: ₹25,000/month salaried or ₹7.5 lakh annual ITR.
For new YES BANK cardholders; not available to existing YES BANK card customers.
Basic KYC documentation required.
Usage Tips:
For maximum value, focus on accelerated spend categories and use partner brands for lifestyle discounts.
Redeem all points promptly as they are valid for 36 months.
Use international lounge visits for travel savings.
Redemption Options
YES Rewardz Portal:
Redeem for gift vouchers, merchandise, travel bookings, and cash-back/upload to statement.
50% of points allowed for statement credit or vouchers per transaction.
Redemption rate: typically ₹0.25 per point (market value), but market-linked assets (Digital Gold, Anq Coins) may offer better rates.
Redemption Fee: ₹100 + GST per redemption.
Best Practices:
Redeem points for digital gold/Anq Coins for higher value if comfortable with market-linked assets.
Always check for partner brand offers for increased redemption value.
Ideal User Profile
Urban millennials, Gen Z, and digital natives: Frequent spenders on OTT, online shopping, groceries, and travel.
Young professionals and families: Looking for a hassle-free card with annual fee waiver and high rewards.
Saver-spenders: Prefer flexibility in redemption and partner discounts without fixed reward caps.
First-time credit card owners: Need a card with simple eligibility and no upfront cost.
Final Thoughts
Strengths:
Top-tier rewards rate—especially for digital, travel, dining, and lifestyle spends.
No joining fee, straightforward annual waiver.
Free international lounge access (rare in the segment).
Accelerated rewards with unlimited earning potential.
Limitations:
3.4% forex markup makes it less ideal for heavy global spenders.
Rewards redemption may require paying a small fee; points capped for cash/vouchers per transaction.
No domestic lounge or insurance perks; focus is mainly on online/lifestyle spending.
Additional Tips for Applicants
Prepare Income Proof: Recent payslip or ITR of ₹7.5 lakh is needed.
Quick Digital Application: Apply online at YES Bank or ANQ for streamlined onboarding.
Track Points: Keep an eye on spending and the fee waiver threshold.
Annual Spending Strategy: Aim for ₹1.2 lakh yearly spend to avoid fees and maximize lounge benefits.
Maximize Partner Offers: Use discounts at Swiggy, Ajio, Zomato, etc., for extra perks.
Redeem Wisely: Use reward points before expiry and check for the most valuable redemption options.
For urban earners, online shoppers, and digital service consumers, YES BANK Anq Phi Credit Card stands out as a user-first, high-earning card for daily and lifestyle spending in India.
This review offers a clear and balanced overview of the YES BANK Anq Phi Credit Card’s strengths and limitations, helping readers make an informed choice about whether this card fits their
Spending Habits And Financial Goals.
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