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Credit Card

Credit card from LIC is offered as a partnering product between its 100% subsidiary LIC Cards Services Limited (LIC CSL) and Axis Bank Ltd. LIC Cards Services Limited was formed in November, 2008 as a wholly owned subsidiary of LIC to roll out its own Credit Card in the Indian market. Whereas Axis Bank which is one of the largest private sector banks in India commenced its operation in 1994, post Government approval for new private banks to be established. Axis Bank has vast reach of branch network i.e. 1281 branches & over 6270 ATMs centre. The Bank enjoys leadership in retail as well as corporate banking segment. With its commitment to adopt best in class industry practices globally, Axis bank has always persisted to achieve excellence.

Benefits of LIC credit cards

  1. LIC credit card is a white label credit card issued with international validity.
  1. The LIC credit cards are issued as a commercial partnership between LIC Cards Services Ltd & Axis Bank Ltd.
  1. There may be applicable joining fee or annual fee for any of the LIC credit card.
  1. Add-on credit cards are available without any additional charge or annual charge.
  1. Free credit between 20 days to 50 days for LIC credit card holders.

LIC credit cards are offered in four variants:

  1. LIC Signature Card
  2. LIC Platinum Card
  3. LIC Titanium Card
  4. LIC Gold Card
     
  1. LIC Signature Card

Features

  • Issued by Visa Inc with basic credit card facilities to cater the daily credit requirement.
  • Globally accepted at all Visa merchant outlets.
  • Nil Annual fees
  • Nil Add-on Cards Joining Fee
  • No annual fee for Add-on Card
  • Cash Withdrawal Fees @ 2.5% of the amount withdrawn wherein the minimum charges of Rs. 250 is applicable.
  • No Card Replacement charges in case of lost card or stolen or re-issued card for other reasons.
  • Emergency Card Replacement service for customers while visiting overseas through VISA Global Customer Assistance Services.
  • No Duplicate Statement charges.
  • Over Limit Penalty as 3% of the net over limit amount or Rs 500 whichever is lower.
  • No charges for Charge slip Retrieval or Copy Request in case of any fraudulent or suspicious transaction.
  • Rs 300 are charged in case of Cheque return or cheque dishonor or ECS return due to insufficient funds.
  • Waiver on Fuel surcharge @ 2.5% for transactions between Rs. 400 and Rs, 4000 spent on fuel purchase. The maximum benefit customer may avail is Rs. 400 in a month.
  • 3.50% of the transaction amount as Foreign Currency Transaction charge.
  • Lucrative credit card offers and reward points scheme.

Other Value add services

  • Reward points on credit card can be migrated to Plus Point Redemption program.
  • Balance Transfer scheme
  • Dial-an-EMI facility
  • Zero lost card liability against fraudulent purchase transactions up to the Insured amount.
  1. LIC Platinum Card

Features

  • A chip based card Issued by Visa Inc, the best credit card in terms with the offers and other elite services.
  • Globally accepted at all Visa merchant outlets.
  • Nil Annual fees
  • Nil Add-on Cards Joining Fee
  • No annual fee for Add-on Card
  • Cash Withdrawal Fees @ 2.5% of the amount withdrawn wherein the Minimum charges of Rs. 250 is applicable.
  • No Card Replacement charges in case of lost card or stolen or re-issued card for other reasons.
  • Emergency Card Replacement service for customers while visiting overseas through the VISA Global Customer Assistance Services.
  • Card holder receives LIC credit card bills as physical statement and on registered mail is as well. There is not any charge for Duplicate Statement as well.
  • Over Limit Penalty is 3% of the net over limit amount or min. Rs 500 whichever is lower.
  • No charges for Charge slip Retrieval or Copy Request in case of any fraudulent or suspicious transaction.
  • A fee of Rs 300 is charged in case of Cheque return or cheque dishonor or ECS return due to insufficient funds in LIC credit card.
  • Waiver on Fuel surcharge for transactions between Rs. 400 and Rs, 4000 spent on fuel purchase. The maximum benefit customer may avail is up to Rs. 400 in a month.
  • 3.50% of the transaction amount as Foreign Currency Transaction charge.

Other Value add services on LIC credit cards

  • Plus Point Redemption scheme for credit card rewards point earned on every spend.
    Balance Transfer scheme
  • Dial-an-EMI facility
  • Zero lost card liability provides protection against fraudulent purchase transactions up to the amount insured.
  1. LIC Titanium Card

Features

  • A multipurpose credit card offered by LIC to cater the daily credit requirement.
  • Globally accepted at all Visa merchant outlets.
  • Nil Annual fees
  • Nil Add-on Cards Joining Fee
  • No annual fee for Add-on Card
  • Cash Withdrawal Fees @ 2.5% of the amount withdrawn wherein the Minimum charges of Rs. 250 is applicable.
  • No Card Replacement charges in case of lost card or stolen or re-issued card for other reasons.
  • Emergency Card Replacement service for customers while visiting overseas through VISA Global Customer Assistance Services.
  • Nil Duplicate Statement charges LIC credit card holders
  • Over Limit Penalty as 3% of the net over limit amount or Min. Rs 500 whichever is lower.
  • No charges for Charge slip Retrieval or Copy Request in case of any fraudulent or suspicious transaction.
  • Rs 300 are charged in case of Cheque return or cheque dishonor or ECS return due to insufficient funds.
  • Waiver on Fuel surcharge for transactions between Rs. 400 and Rs, 4000 spent on fuel purchase. The maximum benefit customer may avail is up to Rs. 400 in a month.
  • 3.50% of the transaction amount as Foreign Currency Transaction charge.

Other Value add services

  • Plus Point Redemption
  • Balance Transfer scheme
  • Dial-an-EMI facility
  • Zero lost card liability against fraudulent purchase transactions up to the Insured amount.
  1. LIC Gold Card

Features

  • The gold Credit cards offered by LIC has best in class security features and online credit card payments feature to make it must have card in every wallet.
  • Globally accepted at all Visa merchant outlets.
  • Nil Annual fees
  • Nil Add-on Cards Joining Fee
  • No annual fee for Add-on Card for Gold credit card offered by LIC
  • Cash Withdrawal Fees @ 2.5% of the amount withdrawn wherein the Minimum charges of Rs. 250 is applicable.
  • No Card Replacement charges in case of lost card or stolen or re-issued card for other reasons.
  • Emergency Card Replacement service for customers while visiting overseas through VISA Global Customer Assistance Services.
  • No Duplicate Statement charges.
  • Over Limit Penalty as 3% of the net over limit amount or Min. Rs 500 whichever is lower.
  • No charges for Charge slip Retrieval or Copy Request in case of any fraudulent or suspicious transaction.
  • Rs 300 are charged in case of Cheque return or cheque dishonor or ECS return due to insufficient funds.
  • LIC credit card offers complete waiver on Fuel surcharge for transactions between Rs. 400 and Rs, 4000 spent on fuel purchase. The maximum benefit customer may avail is up to Rs. 400 in a month.
  • 3.50% of the transaction amount as Foreign Currency Transaction charge.

Other Value add services

  • Plus Point Redemption
  • Balance Transfer scheme
  • Dial-an-EMI facility
  • Zero lost card liability against fraudulent purchase transactions up to the Insured amount.

How to apply for LIC Credit Cards Online

  • Customer can apply for LIC credit card online by visiting the Paisabazaar website.
  • Before customer apply for a credit card, they may also compare credit card options and select which card to apply for among the ones that are available.
  • Customer has to fill up the LIC credit card application online and hit the submit button for electronic submission.
  • Customer, who does apply for a LIC credit card online, can also track the application status online through the dedicated portal of LIC.

Other Important Terms & Conditions for LIC Credit Card

The insurance cover on LIC credit card is a complimentary service which is available only to those LIC credit card holders who have done transactions on the credit card for any Purchase or Cash Advance or EMI facility within last 90 days once, prior to the day of occurrence of the incidence, for which the insurance claim is being made.
 

Late Payment charge is applicable to the total due amount of card account i.e. Rs. 300 if Total Payment Due is up to Rs. 2000, Rs. 400 if Total Payment Due is between Rs. 2001 - Rs. 5000 & Rs. 600 if Total Payment Due is Rs. 5001 or more
 

It’s considered to be the sole responsibility of the LIC credit Cards holder to report the loss of card to LIC Cards customer service immediately and have to file an FIR with the nearest police station for the lost/stolen card mentioning the financial implications.
 

Service tax levied on LIC credit card are at prescribed rates and will apply on all fees, interest and other charges as per the existing service charge rates.
 

No refund shall be provided for service tax on fuel transaction surcharge for all types of LIC credit card.
 

A cardholder can use LIC credit card to withdraw cash from ATMs in India or overseas in accordance with the compatibility of the said ATM.
 

The cash withdrawal transaction attracts a charge of 2.5% of the transaction amount subject to a minimum amount of Rs.250 per transactions.
 

Finance charge are payable at the monthly percentage rate on all charges including cash advance, at withdrawals.
 

In case of balance transfers from other credit card account, finance charges are levied immediately from the date of issuance of the sanction cheque.

LIC Credit Card Customer Care

LIC credit card users can contact the LIC credit card customer care for any unresolved query via call, email and SMS. Here are the details:

LIC credit card customer care Toll Free number: 1800 233 1100

LIC credit card customer care Email ID: liccards@axisbank.com, nodal.officer@axisbank.com

LIC credit card customer care mail address for any grievances:

Mr. Ashok Ramakrishnan, Nodal Officer, LIC Cards Support, Axis Bank Ltd., 5th Floor, NPC1 Building No. 1, Gigaplex Plot - IT5 MIDC, Airoli Knowledge Park, Airoli, Navi Mumbai - 400 708

For more info, please visit the given link:

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