LIC Platinum EMV Credit Card
- Joining fee
Nil
- Annual fee
Nil
- Best suited for
Shopping
- Reward type
Reward Points
Rewards
- Rewards rate
1 RP for every ₹150 spent on eligible categories
- Reward redemption
1 RP = ₹0.50
Benefits
- Insurance
You get personal accident insurance coverage and credit liability coverage of ₹50,000, along with a purchase protection cover of ₹50,000.
Fees & charges
- Rewards redemption fee
₹30 per redemption request
- Interest rates
3% per month; 36% per annum
- Fuel surcharge waiver
2.5% fuel surcharge waiver on all fuel transactions across all petrol pumps
- Cash advance charges
2.5% on the withdrawal amount subject to the minimum amount of ₹200.
Product highlights
- This card has no joining or renewal fee, making it a lifetime-free card.
- Insurance benefits are included with this card.
- A balance transfer facility is provided to cardholders with this card.
- EMI conversion options for purchases over ₹2,500.
- 2.5% surcharge waiver on fuel transactions at fuel stations across India.
Pros & cons
Pros
- Temporary credit limit enhancement up to 30%.
- VISA Bill Pay for utility payments
Cons
- No additional perks for shopping or travel.
- There are no Forex Markup fees with this card.
FAQs
Is there a joining or renewal fee for this card?
No, the LIC Platinum EMV Credit Card has no joining or renewal fees, making it a lifetime-free card.
How can customers make utility bill payments?
The card also includes a VISA Bill Pay facility, allowing customers to pay their utility bills simply and securely to over 120 different billers.
What is the interest rate for this card?
The interest rate for the LIC Platinum EMV Credit Card is 3% per month, which translates to 36% per annum.
Can I convert my purchases into EMIs?
Yes, cardholders can convert purchases of ₹2,500 and above into EMI transactions, with options for 6, 12, or 24 months.