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ICAI Exclusive BOBCARD Credit Card VS LIC Platinum EMV Credit Card

A detailed, side-by-side look at 2 leading credit cards. Analyze the features that matter most to you and make an informed choice.

Features

ICAI Exclusive BOBCARD Credit Card
ICAI Exclusive BOBCARD Credit Card
LIC Platinum EMV Credit Card
LIC Platinum EMV Credit Card

Fees & Charges

Joining Fee
Nil
Nil
Renewal Fee
Nil
Nil
Spend Based Waiver
No spend-based waiver required as the ICAI Exclusive BOBCARD Credit Card is lifetime free.
Not applicable.
Foreign Transaction Fees
Reduced 2% foreign currency markup on all international transactions.
Not applicable.
Interest Rate (APR)
Applicable interest rate is 3.49% per month.
3% per month (36% p.a.) on revolving credit; 16% p.a. for EMI <6 months, 18% p.a. for EMI >6 months on purchases converted to EMI.

Rewards & Benefits

Welcome Bonus
Complimentary 6-months Fitpass Pro Membership worth ₹15,000 and 500 bonus Reward Points on ₹5,000 spend.
No joining or renewal fees; lifetime-free card. No specific welcome voucher or bonus points mentioned.
Rewards Rate
Earn 5 Reward Points per ₹100 on dining, online & utility; 1 RP per ₹100 on other spends.
1 Reward Point for every ₹150 spent on eligible categories; 1 Reward Point = ₹0.50 value.
Reward Type
Reward Points
Reward Points
Reward Redemption Fee
Nil charges apply for redeeming reward points.
₹30 per redemption request.

Travel & Lifestyle

Domestic Lounge Access
Get 12 complimentary access passes (3 per quarter) to domestic airport lounges, spend-based from Jan 2025.
International Lounge Access
Not Applicable
Travel Benefits
Enjoy 12 complimentary domestic lounge access and a reduced 2% Forex mark-up on international spends.
Movie Benefits
Not Applicable
Dining Benefits
Earn 5X Reward Points per ₹100 spent on dining (capped at 1000 RPs per statement cycle).
Golf Benefits
Not Applicable
Fuel Surcharge Waiver
1% waiver on fuel transactions (₹400-₹5,000), capped at ₹250 per statement cycle.
2.5% fuel surcharge waiver on all fuel transactions across petrol pumps in India.

Security & Other

Insurance Benefits
Professional Indemnity (₹5L), Air accident (₹15L), and Non-air accident (₹5L) death cover included.
Personal Accident Insurance; Credit Shield up to ₹50,000 for permanent disability; Purchase Protection up to ₹50,000 for accidental loss/damage within 60 days.
Cash Advance Charges
2.5% (min ₹300) domestic ATMs; 3% (min ₹300) international ATMs for cash withdrawals.
2.5% on withdrawal amount (minimum ₹200); cash withdrawal limited to 10% of assigned credit limit.
Best valueHigher costHighlights apply to Joining Fee and Renewal Fee only.

ICAI Exclusive BOBCARD Credit Card

LIC Platinum EMV Credit Card

Who is it for?

The ICAI Exclusive BOBCARD Credit Card is a lifetime-free card designed for ICAI members, offering unmatched benefits. It provides welcome perks, an accelerated rewards program on dining, online & utilities, and complimentary domestic lounge access. Comprehensive insurance and a low forex markup make it a valuable asset for professionals seeking a feature-rich card without recurring costs.

Who is it for?

The LIC Platinum EMV Credit Card is a lifetime-free, entry-level Visa card designed for shopping and everyday spending. It offers flexible revolving credit, a temporary 30% credit limit enhancement, VISA Bill Pay for over 120 billers, and basic insurance covers. Ideal for cost-conscious users seeking simple conveniences without premium fees, though it lacks high-value rewards and lifestyle perks.

Pros

Key benefits and features.

Lifetime-free status, meaning zero joining and annual fees.

Accelerated rewards on dining, online, and utilities offer significant earning potential.

Complimentary domestic lounge access and low forex markup enhance travel benefits.

Extensive insurance coverage, including professional indemnity, provides peace of mind.

Milestone rewards and welcome benefits add substantial value for active users.

Pros

Key benefits and features.

Lifetime-free with zero joining and renewal fees, ideal for cost-conscious users seeking a simple card.

Temporary credit limit enhancement up to 30% provides short-term flexibility for larger purchases.

Revolving credit and flexible payment choices allow Minimum Amount Due, partial, or full payments each cycle.

VISA Bill Pay for over 120 billers simplifies utility and service payments with a single card.

Balance transfer and EMI conversion options add repayment flexibility for eligible purchases after one year.

Cons

Key drawbacks and limitations.

Complimentary lounge access becomes spend-based from January 1, 2025.

5X Rewards on key categories are capped at 1000 points per statement cycle.

Rewards are not applicable on select MCCs and all fuel transactions.

UPI transactions only earn core reward points, not bonus rewards.

Exclusively available to ICAI members, limiting its accessibility.

Cons

Key drawbacks and limitations.

Limited reward value at ₹0.50 per point with no accelerated or milestone rewards to boost earnings.

No movie, dining, travel, or lounge benefits, making it unsuitable for premium lifestyle seekers.

EMI options require one year of satisfactory account operations, delaying access for new users.

Cash advance fees and interest rates are high, increasing costs for cash withdrawals and revolving credit.

Reward redemption incurs a ₹30 fee per request and requires a 500-point minimum, reducing small redemptions.

Ready to Choose?

Based on your comparison, select the credit card that best matches your spending habits and financial goals.