YES Bank Credit Card Statement

A YES Bank credit card statement offers a complete summary of credit card utilisation in a particular billing period. It includes information like the total amount due, details of all transactions, total and minimum amount due in credit card, as well as the due date by which the payment must be made. You can choose to receive the credit card statement either via email or post. It is extremely crucial to understand all the fine print, numbers, and percentages on the statement to spot any errors or unofficial charges. This can also help you plan your future financial goals accordingly.

There are various ways to check the credit card statement both online and offline:

Online Method

You can use the following steps as a guide to getting your credit card statement through YES Bank credit card net banking: 

1. Log into your net banking account

2. Click on ‘Login’

3. Select ‘Credit Card’

4. Choose the ‘Statements’ options

5. Select your card number and the month for which you’d like to generate a statement

6. Click on ‘Submit’

 

Now you will be able to view the summary of your credit card bill. You can also check your accumulated credit card reward points and cashback.

Offline Methods

If you’d like to get your credit card statement through offline means, you can opt for one of the following ways:

• Visit a branch and submit a request for a printed copy of your statement

• Call YES Bank credit card customer care and request them to send you a copy of the statement at your registered email address

Following this is a breakdown of the various aspects of your YES Bank credit card statement:

• Charges and Fees: Understand any applicable fees like annual charges, late payment penalties, or foreign transaction fees

• Pending Transactions: These haven't been finalised yet and may disappear or change in amount before your next statement

• Transaction Date vs. Posting Date: The transaction date is when you made the purchase, while the posting date reflects when it appears on your statement

• Important Dates: This section highlights your statement date, due date, and grace period to ensure timely payments

• Rewards Summary: Track your accumulated reward points and explore redemption options for exciting perks like travel discounts, gadgets, and gift vouchers

• Transaction History: This detailed list categorises all your purchases, displaying dates, merchants, amounts, and points earned

• Summary: This snapshot provides a quick overview of your current balance, minimum due amount, credit limit, and statement period

Here’s how this crucial figure is calculated:

 

The Building Blocks

• Outstanding Balance: This is the total amount you owe on your credit card, reflecting all your purchases and charges since your last statement.

• Interest Charges: If you didn't pay your full balance in the previous billing cycle, interest accrues on your outstanding balance at the applicable rate. This gets added to your current balance.

• Late Payment Fees (Optional): If you missed a payment deadline, a late payment fee might be added, further increasing your due amount.

 

The Formula:

Annual Membership Fee + Any EMI amount + GST + Minimum 5% of total payment due as per the current statement or ₹200 (whichever is higher)

 

Key Takeaways:

• Paying only the minimum keeps your account active but allows interest to accumulate, potentially leading to significant debt over time

• Aiming to pay more than the minimum is crucial to manage your debt effectively and avoid high interest charges

• Understanding how the Minimum Amount Due is calculated empowers you to make informed financial decisions and control your credit card spending