Question 1

What are the annual fees for the LIC Platinum Credit Card?

Accepted Answer

The LIC Platinum Credit Card comes with zero joining and renewal fees, making it a free-to-own card with no recurring annual charges.

Question 2

How do I earn reward points with the LIC Platinum Credit Card?

Accepted Answer

You earn 2 reward points for every Rs 100 spent on LIC premium payments and international transactions. For other categories, you earn 1 reward point per Rs 100 spent with the LIC Platinum Credit Card, excluding fuel, e-wallet, and EMI transactions.

Question 3

What insurance benefits does the LIC Platinum Credit Card offer?

Accepted Answer

The LIC Platinum Credit Card provides Lost Card Liability cover up to your credit limit, Personal Accident Insurance of Rs 3 Lakh, and Air Accidental Insurance worth Rs 1 Crore.

Question 4

Can I get lounge access with my LIC Platinum Credit Card?

Accepted Answer

No, the LIC Platinum Credit Card does not offer any complimentary domestic or international airport lounge access benefits, focusing on other core advantages.

Question 5

What is the foreign currency markup on the LIC Platinum Credit Card?

Accepted Answer

The LIC Platinum Credit Card has a foreign currency markup of 3.5% on the conversion amount for all international transactions, which is a key point to note.

Question 6

How can I redeem reward points from my LIC Platinum Credit Card?

Accepted Answer

Reward points from the LIC Platinum Credit Card can be redeemed against the LIC Reward catalog for gift coupons or e-vouchers, though a fee of Rs 30 applies per redemption request.

Question 7

Is there a fuel surcharge waiver on the LIC Platinum Credit Card?

Accepted Answer

Yes, the LIC Platinum Credit Card offers a 1% fuel surcharge waiver on transactions between Rs 400 and Rs 4000, with a maximum waiver of Rs 400 per month.

Question 8

What is the interest-free period offered by the LIC Platinum Credit Card?

Accepted Answer

The LIC Platinum Credit Card provides an interest-free period of up to 50 days on retail purchases, helping you manage your finances efficiently before interest accrues.

Question 9

Is the LIC Platinum Credit Card suitable for international spending?

Accepted Answer

While the LIC Platinum Credit Card offers accelerated reward points on international transactions, it also carries a 3.5% foreign currency markup, which should be considered.

Question 10

Who is the LIC Platinum Credit Card best suited for?

Accepted Answer

The LIC Platinum Credit Card is ideally suited for individuals with limited credit backgrounds, those who frequently pay LIC premiums, and for general shopping purposes.

LIC Platinum Credit Card

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