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IDFC LIC Classic Credit Card

IDFC FIRST Bank, LIC Cards, and Mastercard launched two co-branded credit cards on 14 December 2023. One such card is the IDFC LIC Classic credit card, apart from the IDFC LIC Select credit cards that make premium payment easy and seamless and also offer rewards on premium payment and other daily spends. The card is available at zero joining fee and charges low-interest rates besides providing accident coverage, road assistance and other benefits. Here are more details regarding the IDFC LIC Classic Credit Card.

Looking for your first credit card? Apply here!

Overview of IDFC LIC Classic Credit Card

The following are the details of IDFC LIC Classic Credit Card:

  1. Offers joining benefits worth more than Rs.3000
  2. Offers rewards on paying LIC premiums that helps saving 12% on premium
  3. Provides lifestyle privileges that include roadside assistance, insurance cover, lounge access, and many others
  4. These cards come without paying any annual and joining fee
  5. Ensures interest free ATM cash withdrawal for 48 hours

Reward Program

The following are the details regarding the reward program related to IDFC LIC Classic Credit Card:

  1. Payment of LIC Insurance premium using these cards will offer 6X rewards
  2. On spending up to Rs.300 per month on essentials such as utilities, education, grocery, railways, and government payments, will offer 3X rewards
  3. Card holders can also earn 3X rewards on all other spends

Note:

  1. The rewards on LIC premium will be earned only if the customer pays the premium through official website of LIC
  2. One reward point is equal to Rs.0.25
  3. The validity of rewards earned on paying LIC premium using these cards are of three years
  1. Categories on which reward points are not applicable are: 
    1. Cash withdrawal 
    2. Fuel 
    3. Rental 
    4. Spending on paying premium other than LIC 
    5. EMI transactions
Looking for your first credit card? Apply here!

Benefits and Privileges of IDFC LIC Classic Credit Card

The following is the list of benefits and privileges of IDFC LIC Classic credit card: 

Benefits

  1. On spending Rs.5000 within first 30 days of generation of card, the card offers1,000 rewards 
  2. On booking flight tickets on Yatra using these cards will offer a discount of Rs.500 
  3. A discount of Rs.500 can also be availed on sending Rs.899 and above on MYGLAMM purchases 
  4. Lenskart Gold Membership worth Rs.500 will also be available free of cost for one year 
  5. Card holders will also get PharmEasy Plus membership worth Rs.399 which is free for six months 
  6. This card also offers 5.00% EMI cashback which is up to Rs.1000 on first EMI transaction 

Privileges

  1. The card offers one complimentary lounge access per quarter on domestic airport 
  2. Per quarter two railway lounge access will also be available for the card holders 
  3. On spending Rs.200 per month on all fuel stations across the country card holders will get fuel surcharge waiver of 1.00% 

Note: The fuel surcharge waiver is available for transactions ranging between Rs.200 to Rs.500.

Other Benefits of IDFC LIC Classic Credit Card

The following are some other added benefits that the IDFC LIC Classic credit card users can avail themselves of:

Insurance cover

  1. This card offers roadside assistance of Rs.1,399 
  2. Offers Rs.25,000 as credit shield cover and purchase protection cover 
  3. On making at least one transaction in the last 30 days using this card, cardholders can avail themselves of Rs.2 lakh and Rs.25,000 as Personal Accident cover and Lost Card Liability cover, respectively

Convenience 

  1. Enables customers to transfer their credit card balance from other card using the balance transfer privileges offered under IDFC LIC Classic credit card 
  2. For all online transactions above Rs.2,500 on bank’s OTP page, instant EMI conversion can be done 
  3. All transactions above Rs.2.500 can be converted into EMI through mobile application
Looking for your first credit card? Apply here!

Eligibility

The following are the eligibility criteria to avail IDFC LIC Classic credit card:

  1. Annual income should be either Rs.3 lakh or more 
  2. Primary cardholder should be more than 21 years of age

Fees and Charges

The following is the list applicable fees and charges of IDFC LIC Classic credit card:

Joining and Annual Fee 

Lifetime Free 

Interest Rates 

0.75% to 3.50% per month (9.00% to 42% per annum) 

Cash Advance Fee 

Rs.199 per transactions 

Cash Withdrawal (Domestic and International ATMS) 

Interest free for up to 48 hours 

Add-on Card Fee 

Nil 

Late payment charges 

Any payment received before the due date subtracted from 15% of total amount due as of the previous statement (Minimum: Rs.100 Maximum: Rs.1,250) 

Card Replacement Fee 

Rs.100 

Markup Charges on foreign currency transaction 

3.50% 

Looking for your first credit card? Apply here!

FAQs on IDFC LIC Classic Credit Card

  • How can I redeem the reward points that I have earned on my card?

    To redeem the reward point, select ‘Pay with points’ while making online purchase or shopping store.

  • Is there a Joining, Membership, or Annual fee on LIC IDFC FIRST Bank Credit Cards?

    No, the IDFC LIC Classic credit card comes free of cost and does not charge any joining or annual fee.

  • Is there an expiry date on the reward points accrued on my IDFC LIC Classic Credit Card?

    Yes, there is an expiry date of three years from the date the rewards points are earned on the IDFC LIC Classic credit card.

  • What are the offers available on IDFC LIC Classic Credit Cards?

    The IDFC LIC Classic credit card offers host of benefits and offers that includes discounts at health and wellness outlets; complimentary lounge access at airports; complimentary rounds of golf every month; discounts on movie, shopping, and dining; and other benefits like in-app online discounts.

  • Can I use my credit card to withdraw cash at an ATM?

    Yes, you can use your IDFC LIC Classic credit card to withdraw cash at any ATMs within and outside India without paying any interest for up to 48 hours.

  • What is the interest rate on my IDFC LIC Classic credit card?

    The interest rate charged on your IDFC LIC Classic credit card ranges between 0.75% to 3.50% per month.

  • Will I be asked for my Credit Card PIN at every POS terminal, be it domestic or international?

    You will be asked for PIN for your credit card at every POS terminal within India. While PIN will be asked only for POS terminal enabled for PIN authentication outside India.

  • How are LIC IDFC FIRST Credit Cards different from normal Credit Cards?

    The main difference between IDFC LIC Classic credit card with normal credit cards is that the former one is a LIC co-branded credit card that offers high reward points on making LIC premium payments using these cards, unlike normal credit cards.

  • Where do I get my IDFC LIC Classic Credit Card Statement?

    You will receive your IDFC LIC Classic credit card statement every month via email in a PDF format. You can also view your credit card statement through IDFC FIRST Bank mobile application.

  • What to do if I lose my IDFC LIC Classic Credit Card?

    If you lose your IDFC LIC Classic credit card, then you need to immediately block the card and then apply for replacement card through either mobile application or by contacting customer care. 

  • Can I apply for IDFC LIC Classic Credit Cards if I do not have a LIC policy?

    Yes, you can apply for IDFC LIC Classic credit cards even if you do not have a LIC policy.

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Credit Card Customer Care
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  3. Axis Bank Credit Card Customer Care
  4. Federal Bank Credit Card Customer Care
  5. IndusInd Bank Credit Card Customer Care
  6. PNB Credit Card Customer Care
  7. RBL Bank Credit Card Customer Care
  8. Kotak Credit Card Customer Care
  9. Yes Bank Credit Card Customer Care
  10. Standard Chartered Credit Card Customer Care
  11. Canara Bank Credit Card Customer Care
  12. HSBC Credit Card Customer Care
  13. Indian Bank Credit Card Customer Care
  14. Bank of Baroda Credit Card Customer Care
  15. Bank of India Credit Card Customer Care
  16. Union Bank of India Credit Card Customer Care
Credit Card Bill Payment
  1. Credit Card Bill Payment
  2. SBI Credit Card Bill Payment
  3. HDFC Credit Card Bill Payment
  4. Federal Bank Credit Card Bill Payment
  5. Axis Bank Credit Card Bill Payment
  6. IndusInd Credit Card Bill Payment
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  8. Standard Chartered Credit Card Bill Payment
  9. RBL Bank Credit Card Bill Payment
  10. HSBC Credit Card Bill Payment
  11. PNB Credit Card Bill Payment
  12. Canara Bank Credit Card Bill Payment
  13. Bank of Baroda Credit Card Bill Payment
  14. Bank of India Credit Card Bill Payment
  15. Union Bank Credit Card Bill Payment
Credit Card Eligibility
  1. Credit Card Eligibility
  2. SBI Credit Card Eligibility
  3. HDFC Credit Card Eligibility
  4. Federal Bank Credit Card Eligibility
  5. Axis Bank Credit Card Eligibility
  6. Yes Bank Credit Card Eligibility
  7. IndusInd Bank Credit Card Eligibility
  8. HSBC Credit Card Eligibility
  9. Kotak Credit Card Eligibility
  10. Canara Bank Credit Card Eligibility
  11. Standard Chartered Credit Card Eligibility
  12. RBL Bank Credit Card Eligibility
  13. Bank of Baroda Credit Card Eligibility
  14. Union Bank Credit Card Eligibility
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