LIC IDFC Select Credit Card
- Joining fee
Nil
- Annual fee
Nil
- Best suited for
Travel, Shopping
- Reward type
Reward Points
Rewards
- Rewards rate
10X RPs for LIC Insurance Spends. 5X RPs for Spends on Utilities, Education, Groceries, and Railways
- Welcome benefits
2,000 Reward Points on Spending Rs. 10,000 Within 30 Days of Card Issuance
- Reward redemption
“Pay With Points” or Redeem With IDFC FIRST Rewards
Benefits
- Travel
4 Free Railway Lounge Access Each Quarter
- Domestic lounge
2 Free Airport Lounge Access Each Quarter
- Insurance
Complimentary Insurance Covers are Provided
Fees & charges
- Rewards redemption fee
Rs. 99
- Foreign currency markup
3.5% for All International Transactions
- Interest rates
Monthly – 0.75% – 3.5% (Annually 9% – 42%)
- Fuel surcharge waiver
1% Waiver on Fuel Up to Rs. 300
- Cash advance charges
Rs. 199
Product highlights
- Earn accelerated Reward Points for LIC spends.
- Free railway lounge access.
- Free domestic lounge access across airports in India.
- Multiple insurance covers are offered with this card.
Pros & cons
Pros
- This card rewards your LIC insurance spending, which is highly beneficial because LIC is a very popular insurance provider, and many of us pay high premiums each year with them.
- There are multiple insurance coverages like Purchase Protection, Credit Shield, and Card Liability Cover provided along with this card, which makes it extremely safe.
Cons
- This card is mainly focused on LIC spends and offers no benefits in areas like movies and dining.
- If you make non-LIC insurance payments, you will not earn any reward points.
FAQs
What is the joining and annual fee for the LIC IDFC Select Card?
The LIC IDFC Select Credit Card is a lifetime-free card; there are no joining or annual charges associated with this card.
How many points will I get for LIC payments?
With this card, you would get accelerated 10X Reward Points for each spend of Rs. 125 for LIC payments. You have to make the payment on the official LIC website to avail of the Reward Points.