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Axis Bank LIC Platinum Credit Card Review (2026): Lifetime Free Card

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October 6, 2026

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Apply for the Axis Bank LIC Platinum Credit Card with ₹0 annual fee. Earn 2X reward points on LIC policy premiums, fuel surcharge waivers, and complimentary insurance covers.

Key Highlights at a Glance

🎯 Reward Accrual Rates & Real Rupee Valuation

• 2X PlusPoints on LIC Policy Premiums & International Spends: 2 PlusPoints for every ₹100 spent.
  Real rupee value depends on the LIC Cards rewards catalogue. Recent catalogue examples (Platinum tier) show e-vouchers such as ₹1,000 Amazon Pay Gift Card for ~1,500 points (≈ ₹0.67 per point) or Axis Bank Gift Cards at similar rates, delivering roughly 1.0–1.34% effective return on 2X spends. Merchandise redemptions are typically lower.
• Base Retail Spends: 1 PlusPoint for every ₹100 spent on eligible non-excluded categories (≈ 0.50–0.67% effective value at the same catalogue rates).
• LIC Portal Gateway Requirement: 2X points credit only when payments are made directly via official LIC premium payment gateways (licindia.in / LIC Customer Portal). Payments routed through third-party BBPS apps (CRED, Paytm, PhonePe, Amazon Pay, etc.) earn only base rate or zero.

🧮 Real Spend Examples with Calculated Payout

• ₹50,000 annual LIC premium payments (official gateway): 1,000 PlusPoints → approximately ₹500–₹670 voucher value (catalogue-dependent).
• ₹1,00,000 annual general eligible shopping: 1,000 PlusPoints → approximately ₹500–₹670 voucher value.

🚫 Zero-Reward / Excluded Categories
No PlusPoints on:

• Fuel purchases
• Digital wallet reloads
• EMI conversions (Dial-an-EMI and merchant checkout EMIs)
• Utilities, electricity, and telecommunications
• Educational institutions and school/college fees
• Government services and tax payments
• Rental payments
• Gift card purchases
• Bridge/road/toll fees
• Cash advances and ATM withdrawals

⚠️ Fine Print, Redemption Conditions & Hidden Charges

• Points validity: Expire 12 months from the date of accrual.
• Redemption: Only via LIC Cards catalogue. Cannot be done inside the regular Axis EDGE app. Cardholders must call customer care (1800 419 0064), quote the catalogue item code, and confirm delivery details.
• Handling fee: ₹30 + 18% GST on every redemption order (non-refundable).
• Annual virtual gift-card cap: Confirm current limit (sources vary between 25 and 75 per financial year).
• Delivery: E-vouchers/virtual cards typically within 10 working days; physical merchandise within 21 working days.
• Points tracking: Visible in the monthly PDF statement under the “Plus Point Summary” block (separate co-branded pool).

⛽ Fuel Surcharge Waiver

• 1% fuel surcharge waiver at all petrol pumps in India.
• Eligible range: Transactions between ₹400 and ₹4,000 only.
• Monthly cap: Maximum ₹400 waiver benefit per billing cycle.
• GST on the fuel surcharge is non-refundable.
• Additional 1% fee may apply on cumulative fuel spends of ₹50,000 or more in a single statement cycle.

🛡️ Complimentary Insurance Cover

• Lost-card liability: Covered up to the assigned credit limit from the time the loss is reported to Axis Bank customer care.
• Personal Accident Cover (up to ₹3,00,000) and Air Accidental Death Cover (up to ₹1,00,00,000): Listed in older official documents and many reviews, with conditions (ticket booked on the card + at least one merchant/ATM transaction in the preceding 90 days for air cover).

🌍 Forex Markup

• 3.50% + GST on foreign-currency transactions.
• Dynamic Currency Conversion (DCC) also attracts markup (confirm exact current rate).
• Although international spends earn 2X points, the 3.5% markup results in a clear net loss. This card is not suitable for regular international travel or forex spends.

💳 Other Transaction Surcharges & Fee Thresholds

• Rental payments: 1% processing fee (+ GST).
• Education payments via third-party apps: 1% fee (+ GST).
• Utility payments: 1% surcharge on cumulative utility spends of ₹25,000 or more per cycle.
• Wallet reloads: 1% fee on cumulative loads of ₹10,000 or more per cycle.
• Online skill-based gaming: 1% fee on cumulative spends of ₹10,000 or more per cycle.
• Finance charges (revolving): Typically 3.6%–3.75% per month (≈ 43–55% p.a.).
• Cash advances: 2.5% (minimum ₹500); finance charges start immediately.
• Late Payment Charges (indicative Axis slabs):
  • ≤ ₹500: Nil
  • ₹501–₹5,000: ₹500
  • ₹5,001–₹10,000: ₹750
  • ₹10,001–₹50,000: ₹1,200
  • ₹50,000: ₹1,300

Eligibility Criteria

• Primary cardholder age: 18 to 70 years.
• Add-on cardholder age: Confirm current minimum (sources vary; often 18+).
• Employment: Salaried or Self-Employed.
• Gross income: Minimum annual income of ₹5,00,000 (or equivalent monthly)
• Nationality: Resident Indians
• Clean credit history preferred.

Required Documents

• Identity proof: PAN Card (mandatory in most cases) / Passport / Driving Licence / Aadhaar / Voter ID.
• Address proof: Aadhaar / Passport / Electricity Bill / Ration Card / Landline Bill.
• Income proof:
  • Salaried — latest 3 months’ salary slips / Form 16 / 6 months’ bank statements.
  • Self-employed — latest ITR with computation and audited balance sheet (as applicable).
• Recent passport-size photograph.

How to Apply

1. Open the onboarding link
2. Enter registered mobile number, PAN, and date of birth to check pre-approved / pre-qualified offers.
3. Fill employment details, email, and address information.
4. Complete digital KYC via Aadhaar OTP.
5. Finish Video KYC (V-KYC) with an Axis Bank representative (present original PAN).
6. On approval, virtual card number is generated in the Axis Bank app for immediate use; physical card follows by courier.

Axis Bank LIC Platinum Credit Card Review (2026): Lifetime Free Card

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