LIC Axis Bank Vs LIC IDFC Bank Credit Cards

LIC Cards has recently launched two new credit cards in partnership with IDFC Bank. Previously, they had collaborated with Axis Bank to introduce three credit cards that offer exclusive rewards for LIC spending. It is a common misconception that these cards only offer benefits for LIC payments. In addition to insurance payments, these cards have features that can benefit you in shopping or travel categories. Cards from both banks have unique rewards in terms of reward points, lounge access, and other benefits. It is recommended that you compare the top features of both cards and choose the one that best suits your needs.

Every household has at least one LIC policy, which makes these cards more beneficial. Additionally, all the cards offered by LIC are lifetime-free, making them a necessary addition to our credit card collection. It is important to note that these credit cards are most suitable for individuals who already have an existing LIC policy. Those who make regular payments to LIC will benefit the most from these cards.

Quick Comparison of Premium Insurance Credit Cards

Features	LIC Signature Credit Card	LIC IDFC Select Credit Card
Joining/Renewal Fees	Lifetime Free	Lifetime Free
Joining Benefit	N/A	Free 1-year Lenskart Gold Membership Worth Rs. 500. Free 6 Months PharmEasy Plus Membership worth Rs. 399. 2,000 Reward Points.
Reward Rate	2 RPs for LIC Spends and International Transactions. 1 RP for Other Eligible Spend	10X RPs for LIC Insurance Spends. 5X RPs for Spends on Utilities, Education, Groceries, and Railways
Domestic Lounge Access	2 Free Airport Lounge Access Each Quarter	2 Free Airport Lounge Access Each Quarter
Railway Lounge Access	N/A	4 Free Railway Lounge Access Each Quarter
Road-Side Assistance	N/A	RSA Worth Rs. 1399 is Provided

Quick Comparison of Entry-Level Insurance Credit Cards

Features	LIC IDFC Classic Credit Card	LIC Platinum Credit Card
Joining/Renewal Fees	Lifetime Free	Lifetime Free
Joining Benefit	1,000 Reward Points 6 Months PharmEasy Plus Membership Free 1-year Lenskart Gold Membership	N/A
Reward Rate	6X RPs for LIC Spends. 3X RPs for Utilities, Education, Railway, and Government Payments.	2 RPs for LIC Spends and International Transactions. 1 RP for Other Eligible Spend.
Domestic Lounge Access	1 Free Visit Each Quarter	N/A
Railway Lounge Access	2 Free Railway Lounge Access Each Quarter	N/A

Who is the Winner?

It is evident that both the LIC IDFC Credit Cards offers more benefits compared to the LIC Axis Bank Credit Cards. You would receive better rewards and travel benefits with the LIC IDFC Credit Cards. If we look at the reward points that one can earn on LIC payments, the LIC IDFC Select is the clear winner in the premium category, providing 10X RPs. Additionally, it offers 5X RPs on specific categories such as utilities, education, railway, and government spends, which would be highly beneficial as these are some of the daily expenses we incur. Although both cards offer the same number of airport lounge accesses, the LIC IDFC Card provides free railway lounge access as well. 

In the entry-level category, the LIC IDFC Classic Credit Card offers many additional benefits compared to the LIC Axis Bank Platinum Credit Card. Unlike the LIC Axis Bank Platinum Card, the LIC IDFC Classic Credit Card provides airport and railway lounge access in addition to higher rewards, comprehensive insurance, and welcome benefits.

With multiple benefits and a higher reward rate for LIC spends, the LIC IDFC Credit Cards are the excellent choice for anyone who wants to save on their insurance expenses. 

Which way are you leaning? Please share your thoughts on these cards in the comments below.