The LIC Signature Credit Card is one of three basic cards issued by LIC (Life Insurance Corporation). It is a lifetime free credit card and is especially beneficial for LIC policyholders as it offers double reward points on LIC premium payments. With this card, you get 1 Reward Point on every Rs. 100 you spend and 2x points on international transactions. Not only this, but you can redeem your earned reward points against a host of options at a really good value. 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
Best Suited For
Reward Points |
- Lifetime free credit card.
- Up to 2 Reward Points on every spend of Rs. 100.
- Reward Points redeemable against a host of options.
- Complimentary airport lounge access.
- 1% fuel surcharge waiver on all fuel transactions.
- Insurance cover worth up to Rs. 1 Crore.
Rewards and Benefits
Movie & Dining
2 Reward Points on every spend of Rs. 100 on international transactions & LIC payments, 1 Reward Point on every Rs. 100 spent elsewhere.
The earned Reward Points can be redeemed at the Axis Bank PlusPoint catalog where 1 RP = up to Re. 1.
Complimentary airport lounge access
Domestic Lounge Access
2 complimentary domestic lounge access every quarter.
International Lounge Access
Air accident cover worth Rs. 1 Crore and personal accident cover worth Rs. 5 lakhs.
Zero Liability Protection
You won’t be liable for any fraudulent transactions made on a lost/stolen card if the loss is reported to the bank in a timely manner.
Fees & Charges
Spend based Waiver
Rewards Redemption Fee
Rs. 30 + GST
Rewards Redemption Fee
Rs. 30 + GST
Foreign Currency Markup
3.5% on all foreign currency spends
3.6% per month
1% fuel surcharge waiver on all fuel transactions between Rs. 400 and Rs. 4,000.
Cash Advance Charge
2.5% of the transaction amount subject to a minimum of Rs. 500.
Add-on Card Fee
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:
- You get 2 Reward Points on every Rs. 100 you spend on LIC premium payments and international transactions.
- You get 1 Reward Point on every Rs. 100 spent elsewhere.
- No Reward Points are earned on fuel transactions, EMI transactions, and wallet reloads.
Reward Points Redemption
- You can redeem your earned Reward Points by calling the LIC Credit Cards customer care on 1800 419 0064.
- You can find all the options of gift cards to redeem your points at the LIC Credit Cards Rewards Catalogue.
- You can redeem your points against a maximum of 25 gift cards in a financial year.
Airport Lounge Access
You get 2 complimentary domestic lounge access every quarter with the LIC Signature Credit Card.
- You get a personal accident insurance cover worth Rs. 5 lakhs.
- You get an air accident insurance cover worth Rs. 1 Crore.
- You get lost card liability insurance cover worth up to your credit limit.
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.
LIC Signature Credit Card Eligibility and Documentation
The basic eligibility criteria that need to be fulfilled in order to get approved for the LIC Signature Credit Card is as follows:
- The age of the cardholder should be between 18 years and 70 years.
- The annual income of the applicant should be more than Rs. 15 lakhs.
- The applicant should be a resident of India or a non-resident Indian.
- 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.
After going through all its features and benefits, it can be concluded that the LIC Signature Credit Card is a very basic card that comes with a pretty good reward rate and several exclusive benefits. Very few credit cards offer complimentary airport lounge access without an annual fee and this card is one of them. If you are a LIC policyholder, you should definitely apply for this credit card if you meet the required eligibility criteria. However, LIC issues two more credit cards: LIC Platinum & LIC Titanium Credit Cards, which come with fewer features, and the minimum required income is also less for these cards. So, if you are not someone who fulfills the eligibility criteria of the Signature Credit Card, you can check for the features of the other two cards and apply for one of them if it suits your needs.
The annual fee of the LIC Signature Credit Card is zero, i.e, it is a lifetime free credit card.
You can redeem your LIC Signature Credit Card Reward Points by calling customer care at 1800 419 0064.
The interest rate on this credit card is 3.6% per month.
The minimum eligible age to apply for the LIC Signature Card is 18 years.