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LIC Axis Bank Platinum Credit Card

Home LIC Cards LIC Axis Bank Platinum Credit Card

LIC Cards in collaboration with Axis Bank offers the LIC Axis Bank Platinum Credit Card. This card offers accelerated rewards across LIC premium payments, international transactions and other spends, along with other benefits like fuel surcharge waiver and complimentary insurance cover. On this page we have covered important details about this card such as features & benefits, fees & charges, eligibility etc. Read on to know if you should get this card or not.

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Updated: 11-11-2024 10:53:13 AM

LIC Axis Bank Platinum Credit Card: Key Highlights
LIC Platinum Credit Card
Best Suited For Rewards on LIC payments
Joining Fee Nil
Renewal Fee Nil
Minimum Annual Income Requirement Rs. 5 Lakh
Best Feature 2 reward points on every Rs. 100 spent on LIC premium payments
Paisabazaar’s Rating ★★★ (3/5)

Note: This card is not available on Paisabazaar.com. Content on this page is for information purpose only. To express interest in this card, please visit Axis Bank’s website.

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On this page
Features and Benefits of LIC Axis Bank Platinum Credit Card
LIC Axis Bank Platinum Credit Card: Fees & Charges
LIC Axis Bank Platinum Credit Card: Eligibility & Documentation
Should you get the LIC Axis Bank Platinum Credit Card?
Similar Credit Cards
FAQs

Features and Benefits of LIC Axis Bank Platinum Credit Card

Some features and benefits of LIC Axis Bank Platinum Credit Cards are listed as follows:

Accelerated Rewards Programme: This card offers the following rewards across multiple categories:

Rewards on LIC Premium Payments 2 reward points for every Rs. 100
Rewards on International Spends 2 reward points for every Rs. 100
Rewards on other Retail Spends 1 reward point for every Rs. 100

Complimentary Insurance Covers: In addition to the reward points, with this platinum credit card you get the following insurance covers:

(i) Lost card liability insurance cover up to the credit limit offered on the card
(ii) Personal accident insurance cover of Rs. 3 Lakh (Valid till Feb 5, 2023)
(iii) Air Accident Insurance cover of Rs. 1 crore (Valid till Feb 5, 2023)

Click here to check terms and conditions related to the insurance covers offered with this card.

Fuel Surcharge Waiver: With this credit card, you get 1% fuel surcharge waiver across all fuel stations in India. This is applicable on  transactions ranging between Rs. 400 to Rs. 4,000. The maximum benefit you can avail as per this feature is Rs. 400 per month.

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LIC Axis Bank Platinum Credit Card: Fees & Charges

Fee Type Detail
Joining Fee Nil
Annual Fee Nil
Finance Charges 3.6% per month | 52.86% per annum
Late Payment Fee
  • Nil if total payment due is up to Rs. 300
  • Rs. 100 if total payment due is from Rs. 301-500
  • Rs. 500 if total payment due is from Rs. 501-10,000
  • Rs. 750 if total payment due is from Rs.10,001-25,000
  • Rs. 1,000 if total payment due is above Rs.25,000

Click here to check details about other fees and charges associated with LIC Platinum Credit Card.

LIC Axis Bank Platinum Credit Card: Eligibility & Documentation

LIC Axis Bank Platinum Credit Card can be availed by both Resident and Non Resident Indians, who meet the following requirements:

Criteria Detail
Minimum Age 18-70 years
Occupation Salaried or self-employed
Minimum Income Required Rs. 5 lakh per annum | Rs 42,000 gross salary
Documents Required Click here to check the list of documents required

Axis-Bank-Credit-Cards-Digitally

Should you get the LIC Axis Bank Platinum Credit Card?

LIC Axis Bank Platinum Credit Card is a co-branded card, suitable for beginners looking for benefits around LIC premium payments. While the main USP of this credit card is the reward it offers across payment of LIC premiums, you also get benefits around international transactions and other retail transactions. If looked upon individually as a rewards credit card, the reward structure offered on this card is basic.

Also, in comparison to a lot of credit cards with reward benefits, that allow redemption across multiple channels, this card allows reward redemption only across selected products mentioned in the LIC credit card rewards catalog. However, not many cards offer rewards around LIC payments, thus, it can be classified as a beginner friendly rewards credit card with inclined benefits towards LIC payments. Here again, you must note that if you are not specifically looking for a ‘basic credit card’ with LIC benefits, then you can also check other two cards that offer similar but extensive benefits in same categories.

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LIC Axis Bank Platinum Credit card is the basic variant of this co-branded association of LIC Cards and Axis Bank. The other two are LIC Axis Bank Titanium Credit Card & LIC Axis Bank Signature Credit Card. A comparison of these cards is as follows:

Particulars LIC Titanium Credit Card LIC Platinum Credit Card LIC Signature Credit Card
Joining Fee Nil Nil Nil
Annual Fee Nil Nil Nil
Minimum Income Required Rs. 3 Lakh per annum

(Rs. 25,000 gross salary)

 Rs. 5 Lakh per annum

(Rs. 42,000 gross salary

 Rs. 15 Lakh per annum

(Rs. 1.25 Lakh gross salary)
Rewards on LIC payments 2 reward points on every Rs. 100 spent 2 reward points for every Rs. 100 spent 2 reward points for every Rs. 100 spent
Rewards on other transactions
  • 2 reward points for every Rs. 100 spent on foreign currency
  • 1 reward point for every Rs. 100 spent on other categories
  • 2 reward points for every Rs. 100 spent on international spends
  • 1 reward point for every Rs. 100 spent on other categories
  • 2 reward points for every Rs. 100 spent on foreign currency
  • 1 reward point for every Rs. 100 spent on other categories
Other Features
  • 1% fuel surcharge waiver
  • Complimentary lost card liability cover
  • 1% fuel surcharge waiver
  • Complimentary lost card liability cover
  • Complimentary Personal accident Insurance cover & Air Accident Insurance Cover (valid till Feb 5, 2023)
  • 1 % fuel surcharge waiver
  • 2 complimentary lounge access every quarter to select airport lounges in India
  • Complimentary lost card liability cover
  • Purchase Protection cover
  • Complimentary Personal Accident Insurance cover & Air Accident Insurance Cover (valid till Feb 5, 2023)

Similar Credit Cards

Credit Card Annual Fee Key Feature
SBI IRCTC Platinum Credit card Rs. 300 1 reward point for every Rs. 125 spent on non-fuel retail transactions (including insurance payments)
YES Prosperity Rewards Credit Card Rs. 399 1 reward points for every Rs. 200 spent on Insurance payments
Citi Cashback Credit Card Rs. 500 5% cashback on utility bill payments
Axis Ace Credit Card Rs. 499 5% cashback on bill payment and recharge via Google Pay

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FAQs

Which credit card is best for LIC Payment?
While not many cards offer benefits around LIC payments, Axis Bank offers co-branded credit cards with LIC Cards, which could be a suitable pick in this category. One such card is LIC Axis Bank Platinum Credit Card that offers 2 rewards for every Rs. 100 spent on LIC Premium Payments. While you get the similar rewards for international spends, in the retail category the card offers 1 reward point for every Rs 100 spent. Additionally, the card offers complimentary insurance covers and fuel surcharge waiver. You may get this card if your annual income is minimum Rs 5 lakh and you meet other eligibility criteria mentioned above. You can also check and compare LIC Axis Bank Signature Credit Card & LIC Axis Bank Titanium Credit Card to find the right card for you.

How do I redeem the reward points earned on this credit card?
You can earn the reward points on this card against the products listed on the LIC rewards points catalog. Click here to check more details. In order to redeem the reward points you can contact the customer care at 1800 419 0064.

What is the validity of reward points offered on this card?
All reward points earned on this card are valid for one year from the date of accumulation. In case, the reward points are not used in this duration, they will expire.

How do I pay the LIC credit card bill?
You can pay the LIC credit card bill via NEFT, Visa Money Transfer, Axis Bank mobile app, or via the LIC cards website. You can also pay offline via cash payment at your nearest Axis Bank branch or via cheque/draft addressed in favor of ‘LIC Credit Card No (16 Digit credit card number).

Read more about Credit Card Bill Payment | Find answer to all Credit Card Bill Payment Queries

Can I avail EMI facility with my LIC credit card?
Yes, you can opt for EMI with your credit card, for purchases of Rs. 2,500 and above. The interest rate for opting the EMI is 1.5% pm, calculated at the monthly reducing balance. The tenure options could be 3, 6, 12 or 24 months. The processing fee charges are1.5% or Rs. 150, whichever is higher.

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