LIC Axis Bank Platinum Credit Card
Co-branded
Reward Points
Co-branded
2X rewards on LIC premium payments
Travel
2X reward points international spends
Dining
Up to 20% discount on dining bills
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About LIC Axis Bank Platinum Credit Card
LIC Axis Bank Platinum Credit Card is the base variant among the two co-branded credit cards offered by Axis Bank and LIC. This credit card is suitable for beginners looking for benefits around LIC premium payments. Cardholders can earn 2X (2 points per Rs. 100) on LIC premium payments along with the international transactions. On other spends, the card offers a base reward rate of 1 point per Rs. 100 spent.
While the main USP of this credit card is the accelerated rewards on LIC premium payments and international transactions. However, being a lifetime free entry-level card, the reward structure offered on this card is basic.
Also, in comparison to other rewards credit cards that allow redemption across multiple channels, this card allows reward redemption only across selected products mentioned in the LIC credit card rewards catalogue. However, not many cards offer rewards around LIC payments. Overll, this card is a beginner-friendly rewards credit card with inclined benefits towards LIC payments.
Note: This Card is not available on Paisabazaar. The content on this page is for information only. To express interest in this card, please visit Axis Bank’s website.
Rewards Program
Rewards Earning
- 2 reward points for every Rs. 100 spent on LIC premium payments
- 2 reward points for every Rs. 100 spent internationally
- 1 reward point for every Rs. 100 on other categories1
Reward Redemption
- Redeem reward points against e-vouchers, gift cards & other products through the rewards catalogue
Other Features & Benefits
Insurance Coverage
- Lost card liability insurance cover up to the credit limit
Fuel Surcharge Waiver
- 1% fuel surcharge waiver transactions ranging between Rs. 400 to Rs. 4,000, capped at Rs. 400 per month
Dining Benefit
- Up to 20% dining discount at partner restaurants under the Axis Bank Dining Delights Program
LIC Axis Bank Platinum Credit Card: Fees & Charges
| Particulars | Amount | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Joining Fee | Nil | ||||||||||
| Annual Fee | Nil | ||||||||||
| Finance Charges | 3.75% p.m. | 55.55% p.a. | ||||||||||
| Late Payment Charges |
|
Things to Know Before you apply
Get this card if
You are looking for an entry level credit card with no joining and annual fees
You regularly pay LIC insurance premiums via credit cards and want to earn rewards on those payments
You are new to credit cards and want a basic, entry-level card for building your credit history
You prefer a simple rewards program for everyday spends
Eligibility Criteria
Min. Age Requirement: 18 years
Max. Age Requirement: 70 years
Occupation: Salaried or Self-employed
Paisabazaar Review
What do we like about this card?
LIC Axis Bank Platinum Credit Card is an entry-level card best suited for consumers who prefer to make LIC premium payments via credit cards. It offers 2X rewards on LIC payments along with international spends. Besides this, the card offers a base reward rate of 1 point per Rs. 100 on other spends. Cardholders can also save on dining bills at partner restaurants with Axis Bank Dining Delights Program, adding to the overall value. This card is a suitable option for consumers seeking accelerated rewards on LIC premium payments.
Pros
- Accelerated (2X) rewards on LIC premium payments and international spends
- Redemption of rewards against multiple categories
- Up to 20% discount on dining at partner restaurants
- Card liability insurance cover up to the credit limit
Cons
- No travel or lifestyle related benefits
- Low reward rate on other spends other than LIC and international transactions
- No reward points on fuel, utility bills, rent payments, and jewellery purchases
Frequently Asked Questions
Everything you need to know about this credit card
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, which offers 2 reward points for every Rs. 100 spent on LIC premium payments.
You can redeem the reward points on this card against the products listed in the LIC rewards points catalogue. In order to redeem the reward points, you can contact customer care at 1800 419 0064.
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.
You can pay your LIC Axis Bank Platinum 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.
Yes, you can convert purchases of Rs. 2,500 or more into easy EMIs using this credit card. This feature helps you manage big-ticket expenses more conveniently.
Footnotes
- No reward points will be offered on Utilities & Telecom, Education, Rent, Wallet load, Government Services, Gold & Jewellery, Fuel, Cash Advances and EMI spends.
Click here to know More Terms and Conditions
Shruti Sharma
Shruti Sharma is a skilled content writer with a passion for simplifying personal finance for consumers. Specializing in credit cards and financial planning, she offers valuable insights that empower individuals to make informed financial choices. Through her writing, she shares practical tips and guides readers through the nuances of credit card usage.
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