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LIC Axis Bank Platinum Credit Card

The LIC Axis Bank Platinum Credit Card is a co-branded rewards card with no first-year fee. It offers 2X reward points on LIC premium payments and international spends. Cardholders can also enjoy up to 20% discount on dining bills, making it suitable for insurance payers, travelers, and dining enthusiasts alike.

LIC Axis Bank Platinum Credit Card

About LIC Axis Bank Platinum Credit Card

The LIC Axis Bank Platinum Credit Card is the entry-level option among the co-branded cards from LIC and Axis Bank, designed primarily for first-time credit card users. It provides 2X reward points on LIC premium payments and international transactions, while other purchases earn 1 point per Rs. 100 spent.

Its key advantage is the accelerated rewards on insurance and overseas spending. As a lifetime free card, the overall reward structure is simple and straightforward.

Unlike many other rewards cards, points can be redeemed only for select products listed in the card’s rewards catalog. Nevertheless, for users looking to earn rewards specifically on LIC premium payments, this card offers a beginner-friendly and focused rewards experience.

Rewards Program

Earning Rewards

  • Earn 2 points for every Rs. 100 spent on insurance premium payments.

  • Earn 2 points for every Rs. 100 spent on international transactions.

  • Earn 1 point for every Rs. 100 spent on all other purchases.

Redeeming Rewards

  • Use your accumulated points to redeem digital vouchers, gift items, and other rewards available through the program catalog.

Additional Features & Benefits

Insurance Protection

  • Coverage against lost card liability up to the card’s credit limit.

Fuel Surcharge Waiver

  • Enjoy a 1% waiver on fuel transactions between Rs. 400 and Rs. 4,000, with a maximum of Rs. 400 per month.

Dining Privileges

  • Get up to 20% off at select partner restaurants through the dining rewards program.

EMI Facility

  • Convert purchases of Rs. 2,500 and above into convenient EMI payments.

LIC Axis Bank Platinum Credit Card: Fees & Charges

ParticularsAmount
Joining Fee Nil
Annual Fee Nil
Finance Charges 3.75% p.m. | 55.55% p.a.
Late Payment Charges
For outstanding balance:
Up to Rs. 500Nil
From Rs. 501 to Rs. 5,000Rs. 500
From Rs. 5,001 to Rs. 10,000Rs. 750
Above Rs. 10,000Rs. 1,200

Before You Apply

Who Should Consider This Card

  • Individuals seeking a basic, entry-level credit card with no joining or annual fees.

  • Those who frequently pay insurance premiums via credit card and want to earn rewards on these payments.

  • First-time credit card users looking to build their credit history.

  • People who prefer a straightforward rewards program for everyday spending.

Eligibility Requirements

  • Minimum Age: 18 years

  • Maximum Age: 70 years

  • Occupation: Salaried or Self-employed

FAQs

Which credit card is suitable for paying insurance premiums?

If you frequently pay insurance premiums via credit card, consider an entry-level card that offers reward points on such payments. Some cards provide 2 points for every Rs. 100 spent on insurance premiums.

Reward points can be redeemed for digital vouchers, gift items, or other products listed in the card’s rewards catalog. Redemption can usually be done through the mobile app or by contacting customer support.

Points earned on the card typically remain valid for one year from the date they are credited. Any points not redeemed within this period will expire.

Card bills can be paid online via net banking, mobile banking apps, or through authorized portals. Offline payment options like cash deposit, cheque, or demand draft at bank branches are also available.

Yes, purchases above a certain amount (usually Rs. 2,500) can be converted into easy EMIs, helping manage large expenses more conveniently.

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