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Federal BankLife Insurance Corporation in association with Axis Bank offers a LIC Signature Credit Card. You can earn reward points on international and domestic transactions on this card. Besides shopping benefits, on this card, you can also enjoy the travel and insurance benefits. With this LIC Visa Signature credit card, you earn 2 reward points per Rs 100 spent on LIC premium payments and international spending and 1 reward point on every Rs 100 spent Moreover, you get complimentary airport lounge access to selected domestic airports in India.
Taking about additional benefits of the LIC Signature Credit Card, you get exclusive insurance covers worth up to Rs. 1 Crore, a 1% fuel surcharge waiver on all fuel transactions, and zero liability protection against lost/stolen cards. To know more about this credit cards and its fees & charges, keep reading the article:
LIC Signature Credit Card
Fees
Joining Fee
Renewal Fee
Best Suited For
Shopping |
Reward Type
Reward Points
Welcome Benefits
Movie & Dining
NA
Rewards Rate
You can earn 2 reward points on spending every Rs. 100 on international transactions and LIC premium payments. You can also earn 1 reward point on every Rs. 100 on all other categories excluding fuel transactions, wallet load, EMI transactions on this card.
Reward Redemption
Reward points can be redeemed using the LIC rewards catalog. You can redeem your reward points from a plethora of products, e-vouchers, and gifts cards
Travel
2 complimentary lounge access per quarter.
Golf
NA
Domestic Lounge Access
2 complimentary domestic lounge access per quarter.
International Lounge Access
NA
Insurance Benefits
Covers personal accident insurance of upto Rs. 5 lakhs and air accident insurance of upto 1 crore. Also, you get a purchase protection insurance of upto Rs. 1 lakh.
Zero Liability Protection
Covers a card lost insurance of upto Rs. 5 lakhs.
Spend Based Waiver
NA
Rewards Redemption Fee
Rs. 30 + GST
Rewards Redemption Fee
Rs. 30 + GST
Foreign Currency Markup
3.50%
Interest Rates
3.6% p.m. (52.86% p. a.)
Fuel Surcharge
Avail 1% fuel surcharge waiver at all petrol pumps in India on transactions between Rs. 400 - Rs. 4,000). Maximum fuel surcharge benefit is capped at Rs. 400 per month.
Cash Advance Charges
2.5% or a minimum of Rs. 500.
Add-on Card Fee
Nil
- The LIC VISA Signature Credit Card comes with a joining fee of NIL.
- Earn 2 reward points on every Rs. 100 spent on international transactions and LIC Premium payments.
- Earn 1 reward point on every Rs. 100 spent on all other categories except on fuel, wallet load, and EMI transactions.
- Get personal accident insurance cover upto Rs. 5 lakhs and air accident insurance cover upto 1 crore.
- Get a complimentary insurance cover of upto Rs. 5 lakhs for lost cards and Rs. 1 lakh for purchase protection.
LIC Signature Credit Card Features and Benefits
The LIC Signature Credit Card is an entry-level credit card that comes with a zero annual fee and a decent reward rate. To understand all its features and benefits in detail, refer to the information given below:
Airport Lounge Access
You get 2 complimentary domestic lounge access every quarter with the LIC Signature Credit Card.
Insurance benefits
- LIC VISA Signature Credit Card covers a personal accident cover up to Rs. 5 lakh and air accident cover up to Rs. 1 crore.
- On this card, you also get a purchase protection cover up to Rs. 1 lakhs.
Fuel Surcharge Waiver
- You get a 1% fuel surcharge waiver for all fuel transactions between Rs. 400 and Rs. 4,000.
- The maximum benefit through the fuel surcharge waiver is capped at Rs. 400 per month.
Other Benefits
- You also get a card lost insurance cover of up to Rs. 5 lakhs on a LIC VISA Signature Credit Card.
LIC VISA Signature Credit Card Rewards
- LIC VISA Signature card lets you earn 2 reward points on every Rs. 150 on LIC premium payments and international transactions using the credit card.
- On this credit, you can earn 1 reward point on every Rs. 100 on all other transactions except wallet load, EMI transactions, and Fuel transactions.
Reward redemption
- On LIC Signature Credit Card, you can easily redeem your accumulated reward points for purchasing products, e-vouchers, and gift cards.
- You can redeem your collected reward points using the LIC Credit Cards rewards catalog.
LIC Signature Credit Card Eligibility Criteria
The applicant must check the eligibility requirement before applying for the LIC VISA Signature Credit Card. The applicant must:
- Be between the age of 18-60 years.
- Have a minimum net income of Rs. 15 lakhs.
- Be a citizen of India or NRI.
Documents Required
- Identity Proof – Aadhar Card, Driving Licence, Passport, PAN Card, Voter ID (any one of these).
- Residential Proof – Passport, Aadhar Card, Driving Licence, Voter Id (any one of these).
- Copy of PAN Card.
- Colored photograph.
- Latest salary slips, latest bank statements, ITR, or Form 16.
Conclusion
LIC VISA Signature Credit Card is a decent credit card designed to cater to the needs of first-time credit card users. You can build your credit history with this card. The credit cardholder also gets a card lost insurance cover of up to Rs. 5 lakhs on this card and other personal accident and air accident insurance benefits.
One can vouch for this credit card to avail of the shopping and insurance benefits. If you already have a LIC Signature credit card comment down your experience and reviews. You can also consider LIC Platinum Credit Card to start your credit card journey with.
