By Shubham Sharma
Updated On October 15, 2021

LIC Platinum credit card is a co-branded Visa card launched in partnership with Axis bank. You get charged with no joining fee or renewal fee using the LIC Platinum credit card. The customers can get 2 reward points for every Rs 100 spent on LIC premium payments and international spending. In addition to this,  You can earn 1 reward point for every Rs 100 spent across multiple categories except e-wallet loading, fuel transactions, and EMI transactions. Furthermore, you also get complimentary lost liability cover, personal accident cover, and air accidental insurance cover using this credit card. Read Below to know more about Axis Bank LIC Platinum credit card’s features and offers.

LIC Platinum credit card

Best Suited For

Shopping |

Joining Fee

Nil

Reward Type

Reward Points |

Product Details

  • No Annual fee charged on LIC Platinum Credit Cards.
  • 2 Reward Point every Rs 100 spent on LIC Premium Payment and International spends
  • 1 Reward Point every Rs 100 spent on all categories
  • Lost Card Liability cover up to the credit limit
  • Personal accidental insurance cover worth Rs 3 lakh
  • Air accidental insurance cover worth Rs 1 crore
  • 1% fuel surcharge waiver on fuel transactions between Rs 400 and Rs 4000

Rewards and Benefits

Welcome Benefits

NA

Movie & Dining

NA

Rewards Rate

2 Reward Points for every Rs 100 spent on LIC Premium payment and international spends and 1 Reward Point for every Rs 100 spent on other categories.

Reward Redemption

Redeem the reward points accumulated on your LIC Platinum credit card against the reward catalog as per the conversion rates applicable.

Travel

NA

Golf

NA

Domestic Lounge Access

NA

International Lounge Access

NA

Insurance Benefits

You also get personal accidental insurance and air accidental insurance worth Rs 3 Lakh and 1 crore.

Zero Liability Protection

Lost card liability cover upto the credit limit

Fees & Charges

Joining Fee

Nil

Renewal Fee

Nil

Spend based Waiver

NA

Rewards Redemption Fee

Rs 30 per redemption request

Rewards Redemption Fee

Rs 30 per redemption request

Foreign Currency Markup

3.5% on the conversion amount.

Interest Rates

3.6% per month ( 52.86% per annum)

Fuel Surcharge

1% fuel surcharge waiver on all transactions across all fuel stations

Cash Advance Charge

2.5% on the withdrawal amount subject to the minimum amount of Rs 500.

Add-on Card Fee

Nil

LIC Platinum Credit Cards Rewards

You can earn 1 reward point on every Rs 100 spent on all categories except fuel transactions, e-wallet loading, and EMI transactions. In addition to this, the customers get 2 reward points on every Rs 100 spent on LIC premium payments and international spendings.

Reward Redemption

You can simply redeem the reward points accumulated on your LIC Platinum credit card against the LIC Reward catalog.

Insurance Benefits

You get several insurance benefits using your LIC Platinum credit card. Below are stated some insurance benefits of LIC Platinum credit card

  • You get lost card liability insurance cover up to your respective credit limit
  • Personal accidental insurance cover worth Rs 3 lakhs
  • Air Accidental insurance cover worth Rs 1 crore

Other Benefits

  • You get a 1% fuel surcharge waiver for transactions between Rs 400 to Rs 4000 across all fuel stations in India. Maximum surcharge waiver subject to Rs 400 in a month
  • No annual fee or renewal fee is charged on this card.
  • The customers can convert their purchases into EMI transactions of 6,12 and 24 months using this credit card. The transaction value should be more than Rs 2500.
  • You get an interest-free period of 50 days with the Axis Bank LIC Platinum credit card.

Eligibility & Documentation

Conclusion

LIC Platinum credit card is best suited for individuals with limited credit background. This is an entry-level card that charges zero joining or renewal fees from the customers.  You can redeem the reward points accumulated on LIC platinum credit cards against gift coupons or e-vouchers at the reward catalog. The reward rate provided varies on redemption through the LIC platinum reward catalog. Comment down your reviews of the LIC Platinum Credit Card.

FAQs:

You are charged with a foreign markup fee of 3.5% on international conversions with your LIC Platinum credit card.

No, you do not get any spend based waiver on your spendings using your LIC platinum credit card

The minimum transaction value of Rs 400 for fuel surcharge waiver at all fuel stations across India

LIC Platinum customers can redeem their reward points against the reward catalog.

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