Yes Bank Elevates Requirements for Complimentary Lounge Access on Credit Cards
Yes Bank recently introduced revisions to the complimentary lounge access policy for its credit card holders. The modification mandates a minimum quarterly spending of Rs. 10,000 or more to unlock access to airport lounges with the card. This adjustment positions Yes Bank among the banks implementing changes to either reduce or restrict airport lounge privileges, following in the footsteps of HDFC Bank, which made a similar adjustment last month.
Evolving Lounge Access Criteria
To enjoy complimentary access to airport lounges in the upcoming quarter using your Yes Bank Credit Card, a minimum expenditure of Rs. 10,000 or more within a calendar quarter is now essential. This policy will be effective from March 21, 2024, and it doesn’t alter the number of complimentary lounge accesses available.
Calendar Quarter Breakdown
Understanding the specific quarters within the calendar is crucial. The breakdown is as follows:
- 21st December – 20th March
- 21st March – 20th June
- 21st June – 20th September
- 21st September – 20th December
Refer to the example below for a clearer understanding:
| Spends Required | Eligibility for Airport Lounge Access |
|---|---|
| Rs. 10,000 or More Between 21st Dec – 20th Mar | Eligible |
| Spends Less than Rs. 10,000 Between 21st Mar – 20th Jun | Not Eligible |
| Rs. 10,000 Between 21st Jun -20th Sept | Eligible |
The Changing Landscape
In summary, it appears that a growing number of credit card issuers are adopting the practice of imposing minimum spending requirements for complimentary airport lounge access. ICICI Bank initiated this trend, followed by other major players like IDFC and HDFC, and now, Yes Bank. To retain eligibility for airport lounge access in the subsequent quarter, cardholders must now meet a spending threshold of Rs. 10,000 or more within a quarter. Importantly, there has been no modification to the actual number of airport lounge visits allowed.
Share Your Thoughts
What are your sentiments regarding these new restrictions set by Yes Bank for its credit cards? As credit card perks evolve, it’s crucial for cardholders to stay informed and adapt to these changes. Feel free to share your thoughts on how these adjustments might impact your credit card experience.