LIC Axis Bank Platinum Credit Card

The LIC Platinum Credit Card, a collaborative venture with Axis Bank, offers a fee-free experience for joining and renewal. Earn 2 reward points per Rs 100 on LIC premium payments and international transactions. Additionally, gain 1 reward point for every Rs 100 spent in various categories, excluding e-wallet loading, fuel, and EMI transactions. Benefit from complimentary lost liability, personal accident, and air accidental insurance covers. Experience a credit card that enhances your financial perks and security.

Key Highlights of LIC Axis Bank Platinum Credit Card

Unlock unparalleled benefits with the LIC Axis Bank Platinum Credit Card.

1. No Annual Fee:

  • LIC Platinum Credit Cards come with no annual charges.

2. Reward Points:

  • Earn 2 Reward Points for every Rs 100 spent on LIC Premium Payment and International transactions.
  • Gain 1 Reward Point for every Rs 100 spent across all categories.

3. Lost Card Protection:

  • Enjoy Lost Card Liability coverage up to the credit limit.

4. Accidental Insurance:

  • Avail Personal Accidental Insurance cover of Rs 3 lakh.
  • Benefit from Air Accidental Insurance cover worth Rs 1 crore.

5. Fuel Surcharge Waiver:

  • Get a 1% fuel surcharge waiver on transactions ranging from Rs 400 to Rs 4000.

Features and Benefits of LIC Axis Bank Platinum Credit Card

The LIC Axis Bank Platinum Credit Card offers several features and benefits:

1. PlusPoints Rewards Program:

  • Platinum cardholders earn 1 reward point for every Rs. 100 spent.
  • Bonus rewards: 2 points for Rs. 100 on LIC premium and international purchases.

2. Insurance:

  • Personal Accident Cover of Rs. 3 lakh.
  • Air Accidental Insurance worth Rs. 1 crore.

3. Cash Withdrawals:

  • Quick cash withdrawals at ATMs nationwide with the LIC Platinum credit card.

4. EMI Option:

  • Convert high-value purchases (above Rs. 2500) into monthly installments.

5. Loan on LIC Platinum Credit Card:

  • Low-interest rate repayments.
  • EMI conversions at 1.5% interest per month on a reducing balance.

6. Add-on Cards:

  • Up to 3 add-on cards for spouse, parents-in-law, parents, children, or siblings above 15.

7. Fuel Surcharge Waiver:

  • 1% fuel surcharge waived on all fuel purchases.

8. Balance Transfer:

  • Transfer outstanding balances from other bank credit cards to the LIC Axis Bank Platinum Card.

LIC Axis Bank Platinum Credit Card Fees and Charges

Explore the fee structure for the LIC Axis Bank Platinum Credit Card and discover the financial advantages that come with it.

1. Annual Fee:

  • NIL

2. Add-on Card Fees:

  • Joining Fees: NIL
  • Annual Fees: NIL

3. Interest-free Credit Period:

  • Up to 50 days

4. Finance Charge:

  • 3.25% per month

5. Cash Withdrawal Fee:

  • 2.5% of cash limit or a minimum of Rs.250

6. Duplicate Statement Fee:

  • Waived off

7. Cheque Return/Dishonor Fee:

  • Rs.300

8. Card Replacement Fees:

  • Waived off

9. Late Payment Fee:

  • Outstanding Payment Rs.300: Nil
  • Rs.301 to Rs.500: Rs.100
  • Rs.501 to Rs.1,000: Rs.500
  • Rs.1,001 to Rs.10,000: Rs.750
  • Rs.10,001 to Rs.25,000: Rs.950
  • Rs.25,001 to Rs.50,000: Rs.1,000
  • More than Rs.50,000: Rs.1,200

Eligibility Criteria for LIC Axis Bank Platinum Credit Card

Here are essential criteria for applying for an LIC Axis Bank Platinum Card:

  1. Age eligibility: Individuals aged 18-70 can apply.
  2. Occupation options: Suitable for both salaried and self-employed individuals.
  3. Minimum annual income: Requires a minimum annual income of Rs. 5 lakh or a gross salary of Rs. 42,000 per month.

Documents Required for LIC Axis Bank Platinum Credit Card

To apply for the LIC Platinum Credit Card, you will typically need to provide the following documents:

  1. Choose one identity proof from Aadhar Card, Driving Licence, Passport, PAN Card, or Voter ID.
  2. Select one residential proof from Passport, Aadhar Card, Driving Licence, or Voter ID.
  3. Include a copy of your PAN Card.
  4. Provide a colored photograph.
  5. Submit either the latest salary slips, recent bank statements, ITR, or Form 16. Avoid repetition for a smooth application process.

How to apply for LIC Platinum Credit Card?

Follow these steps to apply for the LIC Platinum Credit Card:

  1. Visit LIC’s Official Website:
    Go to the official website of LIC (Life Insurance Corporation of India) or the website of the bank offering the LIC Platinum Credit Card.
  2. Navigate to Credit Cards Section:
    Find the “Credit Cards” section on the website. Look for information related to the LIC Platinum Credit Card.
  3. Check Eligibility:
    Review the eligibility criteria for the LIC Axis Bank Platinum Credit Card. Make sure you meet the required conditions.
  4. Complete the Application Form:
    Fill out the online application form with accurate personal and financial details. Ensure that you provide all the necessary information.
  5. Submit Documents:
    Upload the required documents such as identity proof, address proof, income proof, and any other documents specified by the bank.
  6. Choose Credit Limit:
    Some applications may allow you to choose your desired credit limit. Be mindful of your financial situation when making this selection.
  7. Review Terms and Conditions:
    Carefully read the terms and conditions associated with the LIC Axis Bank Platinum Credit Card. Understand the fees, interest rates, and any other relevant information.
  8. Submit Application:
    After reviewing and confirming the details, submit your credit card application.
  9. Application Processing:
    The bank will review your application, perform a credit check, and assess your eligibility. This process may take some time.
  10. Receive Approval and Card Delivery:
    If your application is approved, you will receive the LIC Axis Bank Platinum Card. The card, along with its PIN and other relevant details, will be sent to your registered address.

Frequently Asked Questions (FAQs) –

1. What is the LIC Axis Bank Platinum Credit Card?

The LIC Axis Bank Platinum Credit Card is a premium credit card offered by LIC Cards Services Limited, a subsidiary of Life Insurance Corporation of India. It is designed to provide a range of exclusive benefits and privileges to cardholders.

2. What are the key features of the LIC Platinum Credit Card?

  • Reward Points: Earn reward points on every transaction.
  • Insurance Cover: Enjoy complimentary insurance coverage.
  • Fuel Surcharge Waiver: Get fuel surcharge waiver at designated fuel stations.
  • Airport Lounge Access: Access to airport lounges for a more comfortable travel experience.
  • EMI Options: Convert large purchases into easy monthly installments.

3. How can I apply for the LIC Axis Bank Platinum Credit Card?

You can apply for the LIC Axis Bank Platinum Credit Card through the LIC Cards Services website or by visiting the nearest LIC branch. The application process typically involves submitting personal and financial details.

4. What is the eligibility criteria for the LIC Axis Bank Platinum Credit Card?

Eligibility criteria may vary, but generally, you need to have a minimum income, a good credit score, and fulfill other requirements specified by LIC Cards Services Limited.

5. How does the reward points system work?

Every transaction made using the LIC Axis Bank Platinum Card earns you reward points. These points can be redeemed for various benefits such as gift vouchers, merchandise, or discounts on future purchases.

6. Is there an annual fee for the LIC Axis Bank Platinum Credit Card?

Check the latest fee structure provided by LIC Cards Services Limited. There might be an annual fee associated with the card, but it could be waived off under certain conditions.

7. What types of insurance coverage are provided with the LIC Axis Bank Platinum Credit Card?

The LIC Axis Bank Platinum Credit Card typically offers insurance coverage such as air accidental insurance and purchase protection, among others. The specific coverage details may vary, so it’s advisable to review the policy documents.

8. Can I use the LIC Platinum Credit Card internationally?

Yes, the LIC Platinum Credit Card can usually be used internationally. Ensure that your destination is covered by checking the card’s international acceptance and notifying the card issuer of your travel plans.

9. How can I check my credit card statement and pay my bills?

You can check your credit card statement online through the LIC Cards Services website or mobile app. Payments can be made through various channels such as internet banking, mobile banking, or at LIC branches.

10. What should I do if my LIC Platinum Credit Card is lost or stolen?

In case of loss or theft, immediately contact the LIC Cards Services customer care helpline to report the incident. They will guide you through the process of blocking the card and issuing a replacement.