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LIC Signature Credit Card

LIC is a household financial services name, specialising in life insurance. Now, however, it has rolled out a premium credit card through a subsidiary. The card helps give you a more rounded experience of financial services, thanks to the comprehensive set of rewards and features that it comes with.

What is the LIC Signature Credit Card?

The Life Insurance Corporation of India (LIC) in addition to offering life insurance services is also into providing credit card services. This is done through its subsidiary - the LIC Cards Services Limited. The LIC Signature Credit Card is one such offering from the entity. The credit card offers a host of different benefits and privileges to the card holder. Wish to know more about the LIC Signature Card? Continue reading to find out all about it.

Key Highlights of the LIC Signature Credit Card

Some of the key highlights of the LIC Signature Credit Card include the following: 

  • An extensive reward points program 

  • Complimentary lost card liability insurance cover up to the extent of your credit limit

  • Fuel surcharge waiver up to ₹400, on transactions between ₹400 and ₹4,000

  • Complimentary airport lounge access 

  • Up to 3 add-on cards offered

  • No joining fee, annual fee or add-on card fee

  • Double the regular reward points on international transactions and on LIC premium payments

  • Purchase protection cover up to ₹1 Lakh

  • Waiver of duplicate statement fee and balance enquiry charges

  • Conversion of purchases of ₹2,500 into easy EMIs repayable over tenures of 3, 6, 12 or 24 months 

Features and Benefits of the LIC Signature Credit Card

LIC Signature Credit Card Review

The LIC Signature Credit Card is a premium offering from LIC and is designed to offer the cardholder exciting rewards and offers for the transactions that they make. Let’s take a look at a few of the key LIC Signature Credit Card benefits and features that are available to the cardholder.

1. PlusPoints Rewards Programme

With the LIC Signature Credit Card, cardholders get access to the exciting PlusPoints Rewards Programme that allows them to accumulate reward points for certain transactions that they make.

2. Automatic Insurance Coverage

The LIC Signature Credit Card provides the cardholder with personal accident insurance coverage to the tune of ₹5 Lakhs and air accidental insurance to the tune of ₹1 Crore. That’s not all. Cardholders also get a complimentary lost card liability insurance equal to their credit limit.

3. Complimentary Lounge Access

With the LIC Signature Credit Card, cardholders can gain access to airport lounges across India and the world for free.

4. Fuel Surcharge Waivers

Each time you use the LIC Signature Credit Card for purchasing fuel across all fuel pumps in India, you get a fuel surcharge waiver of 1%. This waiver, however, is available only if the transaction value is between ₹400 and ₹4,000 and is limited to a maximum waiver of up to ₹400 per month.

5. EMI Conversions

The LIC Signature Credit Card allows cardholders to convert purchases above ₹2,500 into manageable EMIs at very attractive interest rates.

Eligibility Criteria for the LIC Signature Credit Card

To apply for the LIC Signature Credit Card, individuals would have to first satisfy the eligibility criteria laid out by LIC Credit Cards. Here’s a quick look at what prospective applicants would have to ensure that they satisfy.

  • You must be between 18 and 70 years of age.

  • You must either be a resident of India or a Non-Resident Indian (NRI).

  • You must earn an annual income of at least ₹15,00,000.

  • You must be able to produce a salary slip clearly stating that the gross salary is at least ₹1.25 Lakhs per month.

Documents Required to Apply for LIC Signature Credit Card

Now that you’ve seen what the eligibility criteria for LIC Signature Credit Card is, let’s take a look at the documents that you would have to submit to apply for the card.

  • A photocopy of your PAN card.

  • A coloured passport size photograph.

  • A copy of your proof of identity - PAN, Aadhaar, Voter ID, Driving Licence, or Passport.

  • A copy of your proof of address - Aadhaar, Voter ID, Driving Licence, or Passport.

  • A copy of your proof of income - Form 16, latest payslip, latest bank statement, or the latest Income Tax Return.

How to Apply for the LIC Signature Credit Card?

Although the LIC Signature Credit Card is not available on Bajaj Markets, you can still apply for it by visiting the website of LIC Cards and clicking on the ‘Apply Now’ button. You will be required to fill an online application form, specifying personal details such as your name, address, email ID, city, pin code, state, and mobile number.

 

Alternatively, you can also take the offline route to apply for the LIC Signature Credit Card as well. To do that, you would have to physically visit the nearest branch of Life Insurance Corporation of India (LIC) or Axis Bank, who is the provider of the credit card. Here again, you will be asked to fill and submit an offline application form.

How to Reach the LIC Signature Credit Card Customer Care?

If you have any queries regarding your LIC Signature Credit Card limit or are facing any problems logging into your account, you can always contact the LIC Credit Card customer care - 1800 419 0064.

 

If you prefer contacting the customer support via email, you can send one to liccards@axisbank.com or nodal.officer@axisbank.com. 

FAQs on the LIC Signature Credit Card

What is the general review of the LIC Signature Credit Card?

The LIC Signature Credit Card reviews are all generally very positive. The card comes with the ability to earn reward points on your transactions and provides multiple other benefits. All of this with zero annual fees. 

 

What is the maximum usage limit of the LIC Signature Credit Card?

The LIC Signature Credit Card limit is primarily dependent on your income. Therefore, the maximum limit tends to vary from one individual to another. If you would like to know what the maximum limit is, all that you have to do is simply use your LIC Signature Credit Card login credentials to log into your account.

Alternatively, you can also check your LIC Signature Credit Card statement to know what your maximum usage limit is.

 

Can I make bill payments using an LIC Signature Credit Card?

Of course. You can use your LIC Signature Credit Card to make bill payments and a host of other financial transactions that you would make using a regular credit card. 

 

What types of purchases can be made with the LIC Signature Credit Card?

The LIC Signature Credit Card can be used to pay for all kinds of products and services like retail shopping, online transactions, plane tickets, movie tickets and hotel reservations.

 

Can customers with the LIC Signature Credit Card obtain an e-statement?

Yes, the e-statement feature is available for LIC Signature Credit Card holders. You can access these statements on the LIC card website by providing a few basic details like name, card number, date of birth and the validity date.

 

Can LIC Signature Credit Card applicants track the status of their card applications online?

Yes, LIC Signature Credit Card applicants can track the status of the credit card application online on the official LIC Cards website. 

 

Can I get an add-on card with LIC Signature Credit Card?

Yes, you can fill out the add-on card form online and apply for an LIC Signature add-on card. 

 

What is the validity of LIC Signature Credit Card reward points?

All LIC Signature Credit Card reward points have a validity of one year from the date of accumulation. If you do not redeem them for a period of 12 months, they will expire. 

 

What are the fees and charges on LIC Signature Credit Card?

The LIC Signature Credit Card does not come with any joining fee, annual fee or add-on fee. The interest rate on extended credit is 3.60% per month, as is the interest rate on cash advances. 

 

Other fees and charges on the LIC Signature Credit Card include cash withdrawal fees at 2.50% of the amount withdrawn or ₹500 (whichever is higher). There are also card replacement fees of ₹100, late payment fees up to ₹1,000 and over-limit penalty at 2.50% of the over-limit amount or ₹500 (whichever is higher).

 

How can I activate my LIC Signature Credit Card?

You can get in touch with the card issuer to understand how to activate your LIC Signature Credit Card.

Why should you apply for an LIC Signature Credit Card?

The LIC Signature Credit Card offers various benefits like an extensive rewards program, fuel surcharge waiver, airport lounge access, insurance coverage and more. For these reasons, among other advantages, you can consider applying for the LIC Signature Credit Card.

 

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