Yes Bank Account & FD Premature Closing Charges

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I was told that I would get an Yes First Card easily…I was applying for the card since last 3 years but everytime they were declining the application…Then they sent one branch executive to my home & he told me that if I have an existing relationship with the bank, I will get the card easily…And he made me open a savings account in November last year…

I was not at all interested in opening another savings account as I already had several savings accounts with other banks…But I opened it anyways but they are still continuously declining my card applications without any valid reason & all the time my phone verification & physical verifications are positive…

I was applying using a high limit HDFC card but it’s a MoneyBack card, not the Regalia or higher…HDFC didn’t upgrade my card variant in over 2 years, they only increased limits (I have a SavingsMax account)…I don’t know if that’s the reason or not because no bank tells the reason why they are declining an application…Does HDFC only provide card upgrades to people who upgrade to Classic or Preferred, not sure… rolleyes

I’m using credit cards since last 10 years & had about 15 cards…Currently holding 8 of them from most top banks of India & none of my card applications were rejected ever by any other bank as I have an excellent credit history of almost 10 years now…

Some employees telling me that Yes Bank is not giving Yes First cards to self-employeds, some are saying that, they only give Yes First cards who submit ITRs & not to people who are applying on card to card basis & some are saying they would only approve my card application if I would have applied based on Infinia…

They are confused themselves & confusing me all the times…I know several people (Thanks to Cardexpert.in) who got Yes First cards easily using CC to CC & without having any existing relationship with the bank but these morons not giving me the card even after a saving account and an high-value FD…

I have to do a lot of international transactions using credit cards & all my other cards are standard cards which charges 3.5%+GST on each foreign currency transactions…That was the only reason why I was wanting to get an Yes First card because they have only 1.75% foreign Currency markup…

I am waiting for an invite for OneCard too & was on their waitlist since March…Currently at 12k in their waitlist 2.0…They gave cards to people who are at like 100k+120k+ but not to me even after having 848 Experian & over 800 CIBIL & also having IDFC account…People whom I referred to the app, got OneCard but I didn’t get the invite still…OneCard has 1% Foreign Currency Markup that’s why I am interested in it since No-Bank is not giving me card…

I have accounts in several banks & I never had to close a bank account or withdraw an FD prematurely but they forced me to take this decision because they told me I would get card if I open an account with them…And I opened the account on last November…

FD is 4 months old so there should be no charges for premature withdrawal as their site says, they charge fees after 181 days…But I am not sure if there is any account closure charges…Any help on that would be appreciated…

They should have totally drown..I don’t know why other banks helped them to survive…All of their employees are crap & confuse customers by saying different things all the times & all they want are, to achieve their targets without providing any service the customer needs from them…

29 Comments  |  
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Close it, how does it matter even if charges are there.
Self employed need ITR to be at par with salaried, current a/c will help a lot.
Top banks do not bother much about FD/SB balance
However I did see a friend got Yes first card just based on relationship,
local manager himself pushed and got approved, though online application rejected twice, so they can do it if they want.
Go to bank to close FD and acc they may offer finally – take a chance
https://www.hdfcbank.com/personal/form_centers/...
Fill upgrade form and send they may upgrade to Regalia

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Same experience with Yes Bank credit card. First sent a link to apply for yes first cc on the basis of my savings account. Even though having high credit score, salary slip, itr, my application was rejected. Did not tell any reason for rejection inspite of escalating complaint to higher level. Finally the relationship manager informed that my cc application declined as I was already holding multiple credit cards. Its their policy, they feel a person already holding 10 credit cards, will not spend more on their credit card.

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caks2006407 wrote:

Close it, how does it matter even if charges are there.
Self employed need ITR to be at par with salaried, current a/c will help a lot.
Top banks do not bother much about FD/SB balance
However I did see a friend got Yes first card just based on relationship,
local manager himself pushed and got approved, though online application rejected twice, so they can do it if they want.
Go to bank to close FD and acc they may offer finally – take a chance
https://www.hdfcbank.com/personal/form_centers/...
Fill upgrade form and send they may upgrade to Regalia

About upgrading to Regalia, they told me on the phone that if there is no upgrade offer on my account, then it will be chargeable if I place a manual upgrade request by sending the form to their head office…In upgrade offer, it’s LTF but if I upgrade manually without an offer on my account, I will have to pay 2500 joining & annual charges…This is what they are saying…That’s why I didn’t proceed…I already have the form downloaded…

And why self-employed needs ITR ?? Many people got Yes First cards based on card to card basis…All other banks provide cards on cc 2 cc basis & even I applied through branch & they took my statement of HDFC & they never told me that ITR is mandatory…

And all the branch people & even the other branch people of Yes bank are crap…I called them today morning & told to them that I am closing my FD online & also will visit branch to close my account…They said “Ok if you are only interested in the credit card & not in our banking services, close it”…I told her, that I was told that I would get the card easily & that’s the only reason why I opened this savings account & I never wanted another savings account"…She replied, “Ok then come to the branch, we have account closure forms here..Fill it & surrender the contents of your welcome kit & it will be closed”…

This is height of worst customer service…Even Govt Banks don’t behave like this with their customers…

Few days back this lady & the branch manager were insisting me to get a CC based on my FD & even told me lot of craps like the CC will continue to stay active even after the FD gets closed…I don’t know based on what qualification they get jobs in Yes Bank…Even a person who is using banking services for like 1 year knows that the FD based CCs have to be surrendered first to close the FD & they guys told me that the CC will be delinked from the FD after 1 year & will continue to stay active even after the FD maturity…I complained about this to their Grievance Redressal team & they told it’s not possible which I already knew it’s not…

I came back to her & told her that it’s not possible that the CC will stay active after the FD gets closed…

This is what she replied “Sir sab log sab kuch janenge yeh jaruri thodi hain ?” laughing

Means she is a bank staff & dealing with cards & FDs daily & she & her branch manager didn’t know that the FD based CCs don’t stay active after FD maturity and she said that she used to work in HDFC CC department before joining Yes Bank lol…

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aam_aadmi wrote:

Same experience with Yes Bank credit card. First sent a link to apply for yes first cc on the basis of my savings account. Even though having high credit score, salary slip, itr, my application was rejected. Did not tell any reason for rejection inspite of escalating complaint to higher level. Finally the relationship manager informed that my cc application declined as I was already holding multiple credit cards. Its their policy, they feel a person already holding 10 credit cards, will not spend more on their credit card.

Lol…So having multiple CCs is a crime as per their opinion…I have 8 active CCs now, not 10 so I can’t get a CC from them ?? Maybe your RM lied too who knows ?? All of their employees are piece of shit…I have read several people’s comments on Cardexpert.in who got Yes First cards based on existing CC & many of them already had several cards before…So I’m not sure on what basis they issue the cards & why they decline…

And everytime they show the reason of either “Credit policy parameter” or “Internal policy parameter” reasons & no other clear reasons why they are declining the applications…Even the branch manager & RM are crap & always tell me lots of lies like I mentioned in the above comment that the branch manager asked me to take CC based on my FD & claimed the CC will continue to stay active after FD maturity…They think every customer is newbie…I even changed my RM & this new lady RM is even worse…

Yes Bank drown last time because of its own employees/administrators mistakes…And this may happen again because many people already left them after that moratorium fiasco & now they should put more effort into keeping the existing customers but they are still not bothered…

The way they are treating their customers who trusted them even after the moratorium period, they should go down again & this time permanently…

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Kismat bro kismat….aapki kismat bhi meri tarah kharab hai…..despite a cibil of 787 my entry level icici platinum application got rejected.

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Sushrut.B wrote:

About upgrading to Regalia, they told me on the phone that if there is no upgrade offer on my account, then it will be chargeable if I place a manual upgrade request by sending the form to their head office…In upgrade offer, it’s LTF but if I upgrade manually without an offer on my account, I will have to pay 2500 joining & annual charges…This is what they are saying…That’s why I didn’t proceed…I already have the form downloaded…

You shouldn’t have waited for an offer. I upgraded my moneyback to Regalia First, last year filling a physical form + ITR basis, I attached a letter that the upgraded CC should be LTF in same manner as my existing moneyback. They did LTF upgrade

And why self-employed needs ITR ?? Many people got Yes First cards based on card to card basis…All other banks provide cards on cc 2 cc basis & even I applied through branch & they took my statement of HDFC & they never told me that ITR is mandatory…

If your CL is >3Lac, you will get an upgrade without ITR. Try it.

And all the branch people & even the other branch people of Yes bank are crap…I called them today morning & told to them that I am closing my FD online & also will visit branch to close my account…They said “Ok if you are only interested in the credit card & not in our banking services, close it”…I told her, that I was told that I would get the card easily & that’s the only reason why I opened this savings account & I never wanted another savings account"…She replied, “Ok then come to the branch, we have account closure forms here..Fill it & surrender the contents of your welcome kit & it will be closed”…
This is height of worst customer service…Even Govt Banks don’t behave like this with their customers…
Few days back this lady & the branch manager were insisting me to get a CC based on my FD & even told me lot of craps like the CC will continue to stay active even after the FD gets closed…I don’t know based on what qualification they get jobs in Yes Bank…Even a person who is using banking services for like 1 year knows that the FD based CCs have to be surrendered first to close the FD & they guys told me that the CC will be delinked from the FD after 1 year & will continue to stay active even after the FD maturity…I complained about this to their Grievance Redressal team & they told it’s not possible which I already knew it’s not…

Yes bank has got sufficient cash by the grace of RBI.
These people should be feeling safer than any PSU bank right now.
Don’t expect anything good from these people for next 5 years, at least.

I came back to her & told her that it’s not possible that the CC will stay active after the FD gets closed…
This is what she replied “Sir sab log sab kuch janenge yeh jaruri thodi hain ?” laughing
Means she is a bank staff & dealing with cards & FDs daily & she & her branch manager didn’t know that the FD based CCs don’t stay active after FD maturity and she said that she used to work in HDFC CC department before joining Yes Bank lol…

Its becoming a social behaviour these days. Talk to anyone like they are fools.
And in case you resist being treated like a fool, you will be branded as impolite.
The only way out, just estimate how much foolish you are being considered and dodge the trap.
(Your losses will be proportional to the level you are being treated as a fool.)

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nimod wrote:

You shouldn’t have waited for an offer. I upgraded my moneyback to Regalia First, last year filling a physical form + ITR basis, I attached a letter that the upgraded CC should be LTF in same manner as my existing moneyback. They did LTF upgrade

And why self-employed needs ITR ?? Many people got Yes First cards based on card to card basis…All other banks provide cards on cc 2 cc basis & even I applied through branch & they took my statement of HDFC & they never told me that ITR is mandatory…

If your CL is >3Lac, you will get an upgrade without ITR. Try it.

Thanks for the detailed reply but buddy I’m self-employed but don’t file ITR & my MoneyBack’s limit is more than 3 lacs but they told me on the phone multiple times that, if I send the form manually without an upgrade offer, it will not be LTF & they will charge 2500 joining & annual…Since I don’t file ITR, how am I suppose to send the form ?? Just send the upgrade form asking for card upgrade without any documents ??

The phone CC is currently unreachable due to Covid but they clearly told me that they can’t take any responsibility of the new card being LTF or not if I send the upgrade form manually without an offer…

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tuckless wrote:

Kismat bro kismat….aapki kismat bhi meri tarah kharab hai…..despite a cibil of 787 my entry level icici platinum application got rejected.

Meri koyi kismat hain hi nhi…Kharab toh dur ki baat h… pensive

Aap 3-6 months baad dobara apply karo, mil jayega apko…Aur agar apka aur koyi credit card nhi hain aur yehi pehla card ke liye apply kiya tha toh pehle FD basis pe secured card le lo…Usko use karo aachhe se 1 saal tak…Phir uss credit card ke basis pe apko dusra card mil jayega, tab yeh FD card bandh karke FD close kar dena…Best wishes… : )

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Sushrut.B wrote:

Thanks for the detailed reply but buddy I’m self-employed but don’t file ITR & my MoneyBack’s limit is more than 3 lacs but they told me on the phone multiple times that, if I send the form manually without an upgrade offer, it will not be LTF & they will charge 2500 joining & annual…Since I don’t file ITR, how am I suppose to send the form ?? Just send the upgrade form asking for card upgrade without any documents ??

The phone CC is currency unreachable due to Covid but they clearly told me that they can’t take any responsibility of the new card being LTF or not if I send the upgrade form manually without an offer…

If you have any other premium category CC, include its bill showing iimit, with upgrade form + letter that the upgrade should be LTF like your moneyback CC.

give a last try.
otherwise go for niyo/onecard like CC.

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nimod wrote:

If you have any other premium category CC, include its bill showing iimit, with upgrade form + letter that the upgrade should be LTF like your moneyback CC.

give a last try.
otherwise go for niyo/onecard like CC.

Like I mentioned in the first post, I don’t have any Premium CC, all the basic ones with 3.5%+18% GST foreign currency markup…I have card upgrade offers from Indusind to Pinnacle/Nextt & Iconia but my existing Platinum Aura edge has only 1.5L limit & IndusInd didn’t increase my limit even once in more than 1.6 years…Complained multiple times but in vain…I don’t want to pay 10k for Iconia or 15K for Pinnacle & still have the same paltry limit…There is no use of such high-end cards with that low limit…

Niyo prepaid/debit Card I already have but I prefer to use Credit card because there are lots of fraudulent sellers & I have to buy from international sites mostly & debit/prepaid cards are not ideal for this purpose because the money gets debited automatically & the refund comes after like 10 days…Plus they don’t have good fraud-prevention & chargeback facilities like credit cards…Chargeback on debit card takes almost 90 days to get resolved in case of international transactions…I already experienced this waiting time when I had purchased something using my HDFC Platinum DC on an international site & the seller didn’t ship my item…

In case of Credit cards, I don’t have to pay the bills immediately & refund comes within just 2-3 working days & credit cards also have way better fraud protection & chargeback facilities like mentioned before…

OneCard like I mentioned in the first post, I’m waiting since March but they are not sending me the invite even after being at 12k & having IDFC account & excellent credit history of almost 10 years…

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Kisi experienced local cc-agent ko consult karo.

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nimod wrote:

Kisi experienced local cc-agent ko consult karo.

Saare fraud h saale…🤣

Kidding… I don’t know any of them personally…I often get calls from people claiming to be calling from x bank or y bank asking for CC requirements but mostly for Indusind cards and a few for Yes Bank cards…

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I had written this (I’m copy-pasting) on their twitter timeline today morning to see if they respond to it but nothing…When I get shitty service, I always make sure to take it to the social media & post publicly so that other customers can also see it & maybe the company would provide me a faster response which they generally ignore…

I posted the below on their twitter timeline publicly & still no response from them…I still now not withdrawn the FD or closed the account but wanted to see their reaction…They would just pretend like they didn’t see it…If it would have been any other bank, they would definitely respond something but these Yes Bank guys are on whole new level…
___________

“I just withdrawn my high-value FD prematurely. Now I’m going to branch to close my account too.This bank’s good for nothing.All their employees are CRAP.They didn’t give me a card in 3 years when all Top banks easily gave me cards.#No_Bank should have been totally DROWN.Bye Bye.”
_____________

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Aisa kya hai Yes First CC me that you are so pissed on not getting it?

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Yes CC dept works differently. I have account with them for 10+years. Yes First Exclusive CC will NOT be issued regardless of your TRV, credit worthiness or any other factors if they denied you for other reasons.
Advise for you to ask for Yes Preferred CC against your FD. It’s a good card as well. You will also get Priority Pass with it. And it doesn’t have heavy annual charges or spend commitments for waiver of charges.
P.S. Don’t bother with account closure notices etc..these wont work.

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tuckless wrote:

Kismat bro kismat….aapki kismat bhi meri tarah kharab hai…..despite a cibil of 787 my entry level icici platinum application got rejected.

Icici platinum is on fd isn’t it?

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csaram1067 wrote:

Icici platinum is on fd isn’t it?

Yes mine is fd based but platinum can be issued as unsecured card too.

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igen wrote:

Aisa kya hai Yes First CC me that you are so pissed on not getting it?

I think you didn’t read the main post properly…I clearly mentioned the main reason there…Not everyone may have the same purpose to get a certain product…

You maybe are into domestic transactions but most of my transactions are in PayPal linked CCs on international sites…

Here are the lines from the main post again which you seem like skipped…

“I have to do a lot of international transactions using credit cards & all my other cards are standard cards which charges 3.5%+GST on each foreign currency transactions…That was the only reason why I was wanting to get an Yes First card because they have only 1.75% foreign Currency markup…”

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Watson wrote:

Yes CC dept works differently. I have account with them for 10+years. Yes First Exclusive CC will NOT be issued regardless of your TRV, credit worthiness or any other factors if they denied you for other reasons.
Advise for you to ask for Yes Preferred CC against your FD. It’s a good card as well. You will also get Priority Pass with it. And it doesn’t have heavy annual charges or spend commitments for waiver of charges.
P.S. Don’t bother with account closure notices etc..these wont work.

I have the FD for only 1.6 years..I know I can get Yes First Preferred based on my FD but what is the use of it because I will have to surrender the card next year when my FD matures as I won’t be continuing the FD with them…

Yes First Preferred is free for all the Yes Bank customers (doesn’t matter if they have FD or not) & so is the Exclusive…Both Preferred & Exclusive are LifeTime Free Cards so there is no question of any annual charges…You said you have account with them for 10+ years ?? In that case, you should have known that these two cards are Lifetime Free cards ??

But there’s no use of taking Preferred card as i will have to surrender the card first to close my FD & my FD maturity date is next year itself…So, what I would do with Preferred for just 1 year ??

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csaram1067 wrote:

Icici platinum is on fd isn’t it?

It’s issued on both FD & unsecured….First I had it on FD…Later I got it as Unsecured…

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syedshamir001103 wrote:

Wooooow r great bhai

What does this comment actually mean ? rolleyes Care to clarify ??

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OP: Apart from all the cards that you mentioned, ICICI Emarald CC also has a pretty low currency markup fee of 1.5%+GST, but the issue is that it’s a super premium card like HDFC Infinia/DCB, so shayad aapko na mil pae lekin try kar lijiye agar pehle se account hai toh. Rest aside OneCard is your only hope; btw, what’s your current city ? Is it a tier1 city, coz OneCard are issuing only if your address is in a tier1 city (Customer Care confirmed me this).

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BlueFlash wrote:

OP: Apart from all the cards that you mentioned, ICICI Emarald CC also has a pretty low currency markup fee of 1.5%+GST, but the issue is that it’s a super premium card like HDFC Infinia/DCB, so shayad aapko na mil pae lekin try kar lijiye agar pehle se account hai toh. Rest aside OneCard is your only hope; btw, what’s your current city ? Is it a tier1 city, coz OneCard are issuing only if your address is in a tier1 city (Customer Care confirmed me this).

Yes I live in Kolkata & very well in their eligible cities list & many people got cards here as I read in the CardExpert.in site also…I don’t know what “Personal Dushmani” they have with me…

Yes ICICI mein mera bahot poorana account hain…It’s a Gold Privilege account and I only get pre-approved offers there for car & bike loans…

ICICI Emeralde has even higher fees than DCB & Infinia bro…It’s 12k+GST annually… confused

3 Lacs monthly salary required or 30L ITR….

I just wanted to have atleast one premium card as all the 8 cards I’m holding are all basic ones…IndusInd offering me card upgrades to Nexxt/Iconia & also Pinnacle but there is no use of getting such high-end cards when they didn’t increase the limit of my IndusInd Aura Edge card even once in last 1.6 years of card issuance…Otherwise Pinnacle would have been a great card but with low credit limit & I’m not sure how much markup Pinnacle or Iconia have but they should be the same as basic cards (3.5%+18% GST)…

P.S. Is it like that OneCard guys not giving the cards to people who already have several credit cards ?? I don’t think that should be the case because I know some people who got OneCard while having several other cards…

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Applied for a Yes Bank CC circa 2018
They rejected it based on my designation.I work as an assistant manager in a PSU bank.CIBIL 780+.got 6 cc already
Dumb fucks!
@ op there are better banks/cards available.dont board a sinking ship

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There is an upgrade option directly to HDFC Preferred by clicking on a link…Anyone tried to upgrade to Preferred that way ?? Classic upgrade cant be done online but there was an option to upgrade to Preferred directly…I would just deposit 2 lacs & when the account gets upgraded, I would not maintain that much because many people not maintaining the minimum AMB in Classic & Preferred & since in HDFC RM;s decide to downgrade or not & they don’t generally downgrade, should I take that risk by putting 2 lacs & trying to upgrade to Preferred ?? HDFC is my only hope because no other bank provides cards like Regalia for free (not including Yes Bank here as they don’t like me for an unknown reason)…If I upgrade to Preferred & then don’t maintain the AMB, will I get card upgrade offers to Regalia or Dinners Club lower end versions ??

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kipte.khoka wrote:

Applied for a Yes Bank CC circa 2018
They rejected it based on my designation.I work as an assistant manager in a PSU bank.CIBIL 780+.got 6 cc already
Dumb fucks!
@ op there are better banks/cards available.dont board a sinking ship

All that happens actually happens for good and you very well know the reason why. blush

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Sushrut.B wrote:

It’s issued on both FD & unsecured….First I had it on FD…Later I got it as Unsecured…

Is it worth having? Planning to get it first and apay icici .. As my application got rejected

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csaram1067 wrote:

Is it worth having? Planning to get it first and apay icici .. As my application got rejected

All the ICICI cards are shit except the Apay card but since the Platinum is Life Time Free card, you can take it as you won’t have to pay anything doesn’t matter you use the card or not…

Platinum card is only useful so that you can get APay card based on that later lol… laughing

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