LIC IDFC FIRST Credit Cards

Here are some of the major LIC IDFC FIRST credit cards features and benefits:

Reward Points

LIC IDFC Classic & Select credit cards offer decent value back through rewards, as per the below details:

LIC Classic Credit Card	LIC Select Credit Card
6X rewards on LIC insurance premium spends 3X rewards on grocery, utilities, railways, education and government payments, up to 300 rewards per month 3X rewards on all other spends	10X rewards on LIC insurance premium spends 5X rewards on grocery, utilities, railways, education and government payments, up to 600 rewards per month 5X rewards on all other spends

Note: Cardholders can earn rewards on a maximum of 5 LIC insurance premium payments in a statement cycle for LIC policies of themselves and their family members. The rewards are offered only on transactions done at LIC of India’s official website.

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Other Details:

• 1X = 1 Reward Point per Rs. 125 spent
• 1 Reward Point = Re. 0.25
• Rewards earned on LIC IDFC FIRST Bank credit cards have a validity of 3 years
• Reward points are not offered on fuel, rental, non-LIC insurance spends, EMI transactions & cash withdrawals

Lounge Access Benefits

Cardholders can avail up to 8 domestic airport lounge access and 16 railway lounge access every year, as per the card variant. Here are the details regarding the same:

LIC Classic Credit Card	LIC Select Credit Card
1 complimentary domestic airport lounge access per quarter on minimum monthly spends of Rs. 5,000 2 complimentary railway lounge access per quarter	2 complimentary domestic airport lounge access per quarter on minimum monthly spends of Rs. 5,000 4 complimentary railway lounge access per quarter

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Common Benefits

Both cards offer other benefits, such as discounts on travel bookings, complimentary membership, cashback on EMI transactions, and much more, as per the below details:

• 5% cashback (up to Rs. 1,000) on first EMI spend done within 30 days of card generation
• Flat Rs. 500 off on domestic flight bookings through Yatra
• Flat Rs. 500 off on purchases of Rs. 899 and above on MYGLAMM
• Free 6 months PharmEasy Plus Membership worth Rs. 399
• Free 1-year Lenskart Gold Membership worth Rs. 500

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Insurance Benefits

Cardholders can avail insurance benefits worth up to Rs. 1 Crore as per the below-mentioned details:

LIC Classic Credit Card

LIC Select Credit Card

Personal Accident Cover of Rs. 2 Lakh Lost Card Liability Cover of Rs. 25,000 valid on doing at least one transaction in last 30 days Purchase Protection Cover & Credit Shield Cover of Rs. 25,000 each Complimentary Roadside Assistance worth Rs. 1,399

Personal Accident Cover of Rs. 5 Lakh Lost Card Liability Cover of Rs. 50,000 valid on doing at least one transaction in last 30 days Purchase Protection Cover & Credit Shield Cover of Rs. 25,000 each Complimentary Roadside Assistance worth Rs. 1,399 Travel Insurance Cover of Rs. 4,000 each on loss or delay of checked-in baggage, loss of passport & other documents and delay in flight Air Accident Cover of Rs. 1 Crore

Other Benefits

Apart from the above-mentioned benefits, cardholders can also avail below-mentioned benefits:

Milestone Benefits: LIC Classic Credit Card offers 1,000 rewards on spending the first Rs. 5,000 within 30 days of card generation. Whereas, LIC Select Credit Card offers 2,000 rewards on spending the first Rs. 10,000 within 30 days of card generation.

Fuel Surcharge Waiver: 1% fuel surcharge waiver across all fuel stations on transactions between Rs. 200 to Rs. 500. For LIC Classic, the maximum waiver is Rs. 200 per month, and for LIC Select, the maximum waiver is Rs. 300 per month.

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LIC IDFC Credit Cards are lifetime free cards designed to help you maximize your savings through rewards. As co-branded cards, they excel at providing higher benefits, specifically for LIC premium payments. Additionally, they also offer accelerated benefits across select categories.

Consider opting for these cards if your goal aligns with any of the following:

• Cardholders who prefer to pay LIC premium payments through its official website can apply for any of the LIC cards as per their eligibility. Both variants allow cardholders to earn rewards on personal and family members’ payments, making it a beneficial feature. However, the accrual is limited to a maximum of 5 premium payments in a month.
• With LIC IDFC cards, cardholders can earn accelerated rewards on categories often excluded, such as utility, education, government, and railways. For individuals looking for an option to earn rewards on these specific categories, these cards can be a favourable option, especially considering they are lifetime free cards. Typically, credit cards offering benefits on such categories often come with a comparatively higher annual fee.
• For individuals who frequently travel within the country and make use of airport or railway lounge facilities, these cards can be beneficial. Cardholders can avail up to 8 domestic airport lounge visits and 16 railway lounge visits annually. The fact that these cards are lifetime free makes the offered number of lounge visits exceptional, considering that most credit cards with an annual fee offer such a high number of visits.
• In addition to rewards, these cards offer additional benefits, such as complimentary memberships and discounts on Yatra & MYGLAMM. The combined value of these benefits amounts to Rs. 1,899, maximizing not only your savings but also enhancing the overall value of these cards.

If the above-mentioned features don’t align with your preferences, these cards might not be suitable for the following reasons:

• If you rarely make LIC premium payments or opt for methods other than the official LIC website, these cards may not be beneficial for you. They exclusively offer rewards for premium payments made through the official website of LIC.
• Individuals who frequently travel internationally won’t find added value in these credit cards. None of the card variants provide benefits on international travel; their benefits cater predominantly to domestic travellers.

The applicable fees and charges for LIC IDFC FIRST credit cards are mentioned below:

Type of Fee/ Charge	Amount
Joining Fee	Nil
Annual Fee	Nil
Finance Charges	0.75% to 3.5% per month (9% to 42% per annum)
Late Payment Charges	For Statement Balance: Less than Rs. 100: Nil Up to Rs. 500: Rs. 100 Up to Rs. 5,000: Rs. 750 Up to Rs. 8,000: Rs. 1,200 Up to Rs. 10,000: Rs. 1,250 More than Rs. 10,000: Rs. 1,250

Click here to read about detailed terms & conditions and other fees and charges.