YES Bank has announced alterations to complimentary lounge access privileges available on its credit cards. Effective July 2024, cardholders will be required to spend a minimum of ₹35,000 in the previous quarter to qualify for complimentary lounge access.
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The specified quarters for meeting this spending threshold are March 21 to June 20, June 21 to September 20, September 21 to December 20, and December 21 to March 20.
Users meeting this criterion will get lounge access benefits in the subsequent quarter.
This revised structure applies to the quarters spanning July 1 to September 30, October 1 to December 31, January 1 to March 31, and April 1 to June 30.
It is important to note that the number of complimentary lounge visits remains unchanged, contingent upon meeting the spending threshold of ₹35,000 or more in the specified quarters.
However, these modifications pertain to accessing domestic lounges only.
The affected credit cards include YES Marquee, YES SELECT (formerly YES Prosperity Edge), YES Reserv (formerly YES First Exclusive), YES First Preferred, YES Bank ELITE (formerly YES Premia), YES BYOC, and YES Wellness Plus, according to Live from Lounge report.
This announcement follows Yes Bank's prior statement indicating a revamp of its domestic lounge access benefits, effective April 1, 2024.
Under the earlier arrangement, cardmembers were required to expend a minimum of ₹10,000 in the ongoing quarter to qualify for lounge access in the subsequent quarter.
Meanwhile, Beginning April 1, major credit card issuers in India, such as SBI Card, ICICI Bank, Axis Bank and others, are bringing in significant modifications to their usage policies.
Starting from April 1, 2024, ICICI Bank customers will have to spend a minimum of ₹35,000 in the preceding calendar quarter to unlock one complimentary airport lounge access for the subsequent quarter.
This modification applies to a variety of ICICI Bank credit cards, including the Coral Credit Card, MakeMyTrip ICICI Bank Platinum Credit Card, and others.
Axis Bank has announced changes to its Magnus Credit Card from April 20 onwards. 2024. These revisions include adjustments to reward earnings, lounge access programs, and annual fee waiver exclusions.
Spends on insurance, gold/jewellery, and fuel categories will no longer qualify for reward points.
Benefits including complimentary concierge services and airport meet and assist services will be discontinued.
(Edited by : Amrita)
First Published: Mar 22, 2024 1:47 PM IST
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