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    LIC Gold Credit Card
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    LIC Gold Credit Card

    Add a little shine to your everyday shopping with the LIC Gold credit card, being offered with some of the best privileges available on this planet. The LIC Gold credit card has been exclusively designed for customers, who love to have a good lifestyle and enjoy premium benefits. This card also comes with an excellent rewards program and complimentary insurance cover for the card holder. LIC aims to make every shopping trip, a memorable experience with unlimited privileges, festive offers, lifestyle benefits, discounts, special deals and much more.

    Features and Benefits of a LIC Gold Credit Card:

    A LIC Gold credit card comes with the following features and privileges.

    • Rewards Program:

      LIC Gold credit card customers can get excellent rewards from the PlusPoints Rewards program, designed to offer the best spend experience. Customers can earn 2 rewards points for every Rs. 100 spent on international purchases and for payment of LIC premium. Other purchases would earn customers 1 rewards point for every Rs. 100 spent. Accrued rewards can be redeemed for lifestyle products, shopping vouchers, etc. Every redemption request will attract a handling charge of Rs. 30. Customers require a minimum of 1000 rewards points to be amassed to make redemptions.

    • Insurance:

      Gold customers can enjoy complimentary lost card liability insurance for an amount up to the credit limit (Rs.50, 000), in case a card has been lost or stolen. This insurance cover protects users against fraudulent purchase transactions. The card holder is required to report the loss of card to the LIC Cards Customer Service, while in India or to the VISA Global Service helpline, while abroad. Once the request has been placed, LIC would send a replacement card within seven working days. However, this insurance cover does not extend to ATM and internet transactions.

    • Cash Withdrawals:

      Customers can make instant cash withdrawals at ATMs using their LIC Gold credit cards.

    • EMI Option:

      Gold credit card users can easily convert any purchase above a value of Rs. 2500 into monthly installments and repay back at low interest rates. The EMI conversion can be done with an interest rate of 1.5% per month, which will be calculated at a monthly reducing balance. When a conversion is done a processing fee of Rs. 150 or 1.5% would be charged by LIC, depending on which is higher. Customers can choose to convert their high value purchases in EMIs with tenures ranging from 3,6,12 and 24 months.

    • Loan on a LIC Gold Credit Card:

      LIC also offers loans on credit cards with immediate disbursement and zero documentation. Card holders can repay back the loan with different tenures and attractive interest rates. A processing fee of Rs. 500 or 1.5%, whichever is higher, is charged. If this loan is pre-closed, then LIC charges a foreclosure fee of 3% of the outstanding amount.

    • Add-on Cards:

      LIC Gold credit card customers can avail up to three add-on cards for their parents, spouse, parents-in-laws, siblings and children above the age of 15. The add-on card applicants should be Indian residents.

    • Balance Transfer:
      1. Customers can save significantly if they choose to make a balance transfer from their other bank credit cards to their LIC Gold credit cards. Two plans are offered with special interest rates.
      2. Under the zero interest rate plan, customers are not charged any interest for the first three months. After three months, they are charged an interest rate of 2.95%. The processing fee charged for this plan is Rs. 199 or 2%, whichever is higher.
      3. The second plan is offered to customers at an interest rate of 0.75% for the first three months. After three months, an interest rate of 2.95% is charged. The processing fee charged for this plan is Rs. 100 or 1%, whichever is higher.

    Documents required:

    The applicant’s pay slip which carries a gross salary of Rs. 15,000 should be furnished.

    Eligibility:

    The applicant should show a net income of Rs. 1, 80,000 or above, per annum. The LIC Gold card can be procured at seven cities across India.

    Fees & Charges:

    Annual Fee NIL
    Interest-free Credit Period Up to 50 days
    Add-on Card Joining Fees / Annual Fees NIL
    Cash withdrawal Fee 2.5% of the cash limit / A minimum of Rs.250.
    Card replacement Fees Waived off
    Duplicate Statement Fee Waived off
    Emergency card replacement charges, while abroad. According to VISA Global Customer Assistance Services
    Copy Request Fee / Charge slip Retrieval Fee Waived off
    Cheque return / dishonour Fee Rs. 300
    Late Payment Fee

    Rs. 300 - If the total outstanding amount is up to Rs. 2000.

    Rs. 400 - If the total outstanding amount is between Rs. 2001 and Rs. 5000.

    Rs. 600 - If the total outstanding amount is Rs. 5001 and above.

    Copy Request Fee Waived off
    Fuel Transaction Surcharge 2.5% / Rs. 10, whichever is higher
    Transaction Alert Charges Waived
    Hot listing Charges Nil
    Foreign Currency Transaction Fee 3.50% of the transaction amount
    PlusPoint Redemption Fee Rs. 30 / request
    Balance Enquiry Charges Waived off

    LIC Gold Credit Card FAQs:

    1. Can LIC Gold credit card applicants track the status of their applications online?

      Yes, individuals can track the status of their applications online on the LIC card site, by entering their application ID.

    2. Does LIC provide the facility of e-statements to Gold credit card customers?

      Yes, e-statements can be downloaded from the LIC card site, by entering details like the card holder’s name, credit card number, card validity date and the date of birth.

    3. What are the different online payment options for LIC Gold Credit Card customers?

      The following online services can be used by LIC Gold Credit Card holders -

      • NEFT Payment
      • Visa Money Transfer
      • Online payments from other Bank Accounts
    4. What are the different offline payment options for LIC Gold Credit Card customers?

      The following offline services can be used by LIC Gold Credit Card holders -

      • Cheque
      • Draft
      • Cash Payments
    5. How long are rewards points valid for Gold credit card holders?

      Accrued rewards points have to be used within six months. Points that are not used for more than 6 months will not be valid and the account balance will become nil.

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