LIC Axis Bank Signature Credit Card
Co-branded
Reward Points
Co-branded
2X rewards on LIC premium payments
Travel
2X reward points international spends
Lounge Access
8 domestic lounge visits every year
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About LIC Axis Bank Signature Credit Card
LIC Signature Credit Card is an upgraded variant of LIC Axis Bank Platinum Credit Card. It offers 2% reward points on LIC premium payments & international spends along with 1% reward points on other spends. Cardholders can redeem the accumulated reward points against vouchers and products through the LIC credit card rewards catalogue.
Apart from rewards, this credit card also offers 8 complimentary domestic lounge visits every year. Other benefits like fuel surcharge waiver and up to 20% dining discount at partner restaurants further enhance its value. Like the platinum variant, this credit card also comes with no joining or annual fees.
However, despite being an upgraded variant, the Signature Credit Card offers the same reward rate as the base variant. The key differentiator is only the addition of complimentary lounge access. Overall, this card is a decent option for consumers seeking to save on LIC premium payments while availing basic travel benefits.
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
Reward Earning
- 2 reward points per Rs. 100 spent on LIC premium payments
- 2 reward points per Rs. 100 spent internationally
- 1 reward point per Rs. 100 spent on other categories1
Reward Redemption
- Redeem reward points against e-vouchers, gift cards & other products through the rewards catalogue
Travel & Other Benefits
Lounge Access
- 8 complimentary domestic lounge visits per year (Max. 2 per quarter)
Insurance Coverage
- Complimentary lost card liability insurance cover up to the credit limit
Fuel Surcharge Waiver
- 1% fuel surcharge waiver (Max. Rs. 400 per month) on fuel spends between Rs. 400 and Rs. 4,000
LIC Axis Bank Signature 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 a lifetime free entry level card
You are looking for a basic credit card offering accelerated rewards on LIC premium payments
You are looking for a rewards credit card with basic lounge access benefits
You are a frequent traveller looking to earn rewards on your international 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 Signature Credit Card offers 2X reward points on LIC premium payments along with international spends. Besides this, the card also offers 8 complimentary domestic lounge visits every year, enhancing the card’s overall value for frequent travellers. This card is a suitable option for consumers seeking rewards on excluded categories like LIC premium payments. However, despite being an upgraded variant of LIC Axis Platinum Credit Card, it does not offer a higher reward rate on LIC payments—the primary difference lies in the addition of complimentary lounge access.
Pros
- 2X rewards on LIC premium payments and international spends
- Complimentary domestic lounge visits every year
- Up to 20% discount on dining at partner restaurants
- Lifetime free card with no joining and annual fees
Cons
- Low reward rate on spends other than LIC and international transactions
- Limited travel and lifestyle-related benefits
- No reward points on fuel, utility bills, rent payments, and jewellery purchases
Frequently Asked Questions
Everything you need to know about this credit card
You can apply online for this credit card through the official website of LIC Cards or Axis Bank. All you need to do is look out for this credit card and click on ‘Apply Now’. After this, you will be redirected to the application page. You are required to submit the application form along with relevant documents to apply for this credit card.
You can earn 1% fuel surcharge waiver on your fuel transactions between Rs. 400 and Rs. 4,000. This is applicable across all petrol pumps in India. However, you can earn a maximum waiver of Rs. 400 in a calendar month.
The foreign currency transaction fee charged on this credit card is 3.5% of the transaction amount. Therefore, this is not an ideal option for international transactions as it comes with a high forex markup fee.
Yes, you can get up to three add-on cards with LIC Signature Credit Card. Also, just like the primary card, the add-on cards come with no joining and annual fees.
Yes, you can withdraw cash using your Axis Bank LIC Signature Credit Card. However, a fee of 2.5% of the transaction amount or a minimum fee of Rs. 500 will be charged for withdrawing cash using your credit card. Therefore, it is advisable not to withdraw cash using your credit card as it incurs higher charges.
The reward points earned on LIC credit cards are valid for a period of 12 months or one year. For an instance, the reward points earned on 5 Jan 2024 will be valid till 5 Jan 2025. After this date, your reward points will become null and you won’t be able to redeem them.
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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