Synopsis: This article highlights the Kredit.Pe Yes Bank LTF UPI Credit Card (Ace Credit Card), aiming to help readers understand its features and how it differs from other RuPay credit cards.
Introduced in September 2024, the Kredit Pe Yes Bank LTF UPI Credit Card, which is a free lifetime RuPay credit card, makes you earn cashback unlimitedly from your UPI payments, something quite hard to find these days in credit cards. For those relying on the UPI system for grocery shopping and bill payments, this card offers the simplicity of rewards.
Card Features
Kredit.Pe Yes Bank Ace Credit Card merges both the advantages offered by Kredit.Pe’s cashback-centric UPI system and Yes Bank’s credit card services. It is based on the RuPay system, which facilitates UPI transactions and gives you cashback. Benefits exclusive to Kredit.Pe Credit Card:
- Unlimited 3% cashback for making UPI transactions from Kredit.Pe app
- 5% milestone cashback when monthly UPI spends cross ₹25,000
- 5% cashback on buying digital gold from Kredit.Pe
- Get ₹1,000 cashback bonus on activation of card
Benefits offered by Yes Bank Ace Credit Card:
- 8 reward points for every ₹200 spent on online transactions (4X reward points)
- 4 reward points for every ₹200 spent at an offline store for purchase (2X reward points)
- 2 reward points for every ₹200 spent on utility bill, education, and insurance
- Earn a maximum of 5,000 reward points in a single statement cycle
- Reward points accumulated through card usage can be redeemed through the YES Rewardz platform in exchange for vouchers, miles, and lifestyle rewards at the conversion rate of 1 point = ₹0.25.
Fees and Charges
- Joining Fee: ₹499 plus GST (entire fee exempted if you spend ₹5,000 within 30 days from card activation)
- Annual Fee: ₹499 plus GST (waived if you spend ₹50,000 during the year of your membership)
- Effective Cost: The card is practically lifetime free (LTF), provided that you satisfy the minimum spending levels. With average spenders who use their cards for regular expenses around ₹4,200 per month, the spending target for the year would be easily accomplished, making this an actual free credit card.
- Interest Rate: The interest charged for revolving credit or overdue balances is at the rate of 3.99% per month, equivalent to an annual rate of 47.88%. Interest will only accrue when the total outstanding balance is not cleared by the deadline date.
- Other Fees
- Forex fee: 2.75%
- Cash advance fees: 2.5% of the cash withdrawal amount or ₹300, whichever is greater
- Rewards redemption fee: ₹100 per redemption application
Joining Benefits
- Immediate Cashback Offer: ₹1,000 cashback offer after signing up and using the card through the Kredit.Pe application
- No Joining Fee: The ₹499 joining fee will be fully waived when you spend ₹5,000 within 30 days
- Insurance Coverages: Credit Shield insurance cover worth ₹1 lakh and Lost Card Liability Cover worth ₹1.3 lakh
Milestone Benefits
If your monthly transaction amount through UPI via Kredit.Pe goes above ₹25,000, you will be entitled to a bonus cashback offer of 5%. In other words, if you are a regular user of the UPI payment method, you will have a chance to earn more cashback thanks to the special milestone benefit. Additionally, the annual spending milestone of ₹50,000 ensures your renewal fee is waived, maintaining the card’s lifetime-free status.
To apply for the card, please visit the Official Website
Benefits of this Card
- Unique UPI Cashbacks: The most significant benefit is the unlimited 3% cashback available on all UPI transactions done via Kredit.Pe. Given that most credit cards are discontinuing UPI rewards, this one serves the purpose well.
- Fuel Surcharges Waiver: Customers receive a 1% waiver on their fuel surcharge charges for transactions between ₹400 and ₹5,000 at all fuel stations in India, up to a limit of ₹125 monthly.
- Purchase Protection: The card insures customers’ purchases of mobiles and other electronic items bought online up to ₹50,000 in case of damage within 6 months from the date of purchase.
- Dining Benefits: YES Bank’s Dining Fiesta allows customers access to over 1,000 dining outlets in India’s big cities, offering them a minimum 15% discount.
Multiple Ways of Utilizing Rewards
- 7% instant discount when buying digital gold
- Up to 70% discount on vouchers provided by Amazon Pay, Flipkart, Swiggy, Zomato, Zepto, Dominos, PVR, Myntra, MakeMyTrip, and other leading brands
- ₹10 discount on bill payments and recharge transactions
Conclusion
Yes Bank Ace Credit Card from Kredit.Pe would be ideal for those who extensively use the UPI for their daily expenses. The one factor that sets this card apart from others is the very straight-forward rewards program, where there are flat rates of cashback on UPI transactions without any complex categorization or rotating rewards program.
Written by Shrikara
