As a Platinum card holder, get ready to dive into a remarkable world of privileges and benefits, custom made only for you. The LIC Platinum credit card offers deals and discounts across various categories namely, dining, shopping, accommodation, travel and lifestyle. Customers can also get complimentary insurance cover, bonus rewards and fuel surcharge waiver benefits when they procure a LIC Platinum credit card. As part of its lifestyle offerings, the Platinum credit card brings exclusive deals from top brands like Hertz Car Rental, Kaya Skin Clinic, Matrix Cellular, BookMyShow, HotelClub.com, Pizza Hut, etc. The LIC Platinum credit card can be got without any annual fees or joining fees, as a lifetime free credit card.
A LIC Platinum credit card comes with the following features -
The PlusPoints Rewards Program offers Platinum customers exciting rewards on redemption of accrued points. Platinum card holders can earn 1 rewards point for every Rs. 100 spent. As bonus rewards, customers can get 2 rewards points for every Rs. 100 spent for paying LIC premium and on international purchases. Redemption can be done for lifestyle products, shopping vouchers and other attractive merchandise. Customers need to accrue atleast a minimum of 1000 points to make a redemption. LIC will charge a handling fee of Rs. 30 for each redemption request. If rewards points remain unused for a period of six months or more, then they will become invalid and cannot be redeemed.
Card holders can get complimentary lost card liability insurance for a certain amount up to their credit limit, to a maximum of Rs. 50, 000. This lost card insurance cover protects users against fraudulent purchase transactions occurring when their credit cards have been stolen or lost. The card owner has to report the loss or theft of card to the LIC Cards Customer Service, while in India or to the VISA Global Service helpline, while abroad. Once the loss or theft has been reported, LIC Cards would send a replacement credit card before seven working days. This lost card liability insurance does not cover ATM or internet transactions.
Card members can make quick cash withdrawals at ATMs across the country using their LIC Platinum credit card.
LIC Platinum credit card holders can easily change their high value purchases over an amount of Rs. 2500 into monthly installments. Repayments can be made at low interest rates. EMI conversions can be done by customers an interest rate of 1.5% per month, which is usually calculated on a monthly reducing balance. LIC charges a processing fee of Rs. 150 or 1.5%, whichever is higher for EMI conversions. The tenures that can be chosen by customers start from 3,6,12 to up to 24 months.
Platinum credit card customers can get a loan on their credit cards with zero documentation and instant disbursements. The availed loan can be repaid with flexible tenure options, at low interest rates. A processing fee of Rs. 500 or 1.5%, whichever is higher, is charged for a loan taken on a credit card. If the loan is foreclosed, then a pre-closure fee of 3% of the outstanding amount is charged.
LIC Platinum credit card customers can get up to 3 add-on cards for their spouse, parents-in-laws, parents, children or siblings above the age of 15. Add-on card applicants are required to be Indian residents.
Platinum credit card holders can get a fuel surcharge waiver of 2.5% on purchase transactions done for an amount between Rs. 400 and Rs. 4000 at any petrol bunk across the country. The maximum waiver amount that customers can get for one statement cycle is Rs. 400.
Platinum members can transfer the outstanding balance from other bank credit cards to their existing Platinum credit cards. LIC Cards offers two balance transfer plans at affordable interest rates.
The applicant’s pay slip showing a gross salary of Rs. 42,000 should be submitted to LIC.
The applicant for a Platinum Credit card should show a net income of Rs. 5, 00,000 and above, per annum. The LIC Platinum card can be availed at seven cities across India.
|Add-on Card Joining Fees / Annual Fees||NIL|
|Interest-free Credit Period||Up to 50 days|
|Emergency card replacement charges, while abroad.||According to VISA Global Customer Assistance Services|
|Card replacement Fees||Waived off|
|Cash withdrawal Fee||2.5% of the cash limit / A minimum of Rs.250.|
|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.
|Duplicate Statement Fee||Waived off|
|Cheque return / dishonor Fee||Rs. 300|
|Balance Enquiry Charges||Waived off|
|Fuel Transaction Surcharge||Waived off|
|Transaction Alert Charges||Waived|
|Dial-an-EMI : Interest rates||
1.5% for 3, 6, 12 and 24 months
Processing fee - 1.5% or Rs. 150,whichever is higher
|Copy Request Fee||Waived off|
|Copy Request Fee / Charge slip Retrieval Fee||Waived off|
|PlusPoint Redemption Fee||Rs. 30 / request|
|Foreign Currency Transaction Fee||3.50% of the transaction amount|
LIC Platinum credit card customers have to call the customer care desk to make a redemption request.
Yes, customers can set the direct debit facility on their Axis Bank accounts to make payments for a LIC Platinum credit card.
Yes, customers have to submit the filled-in LIC Premium Payment Registration Form to ensure that premium payments are done through their LIC Platinum credit cards.
Yes, Platinum credit card applications can be tracked by entering the application ID on the LIC website.
Yes, customers can make online bill payments for a Platinum credit card by entering their credit card and bank account details, make their payments and receive an online confirmation from LIC.