The LIC Axis Bank Platinum Credit Card is the entry-level card in the LIC and Axis Bank partnership. It is lifetime free, earns 2 reward points per ₹100 on LIC premium payments and foreign currency spends, and 1 point per ₹100 on most other spends. It has a lower income bar than its sibling, the LIC Signature card, but also fewer perks.
How the rewards work
| Where you spend | Earn rate | Value (1 point = ₹0.20) |
|---|---|---|
| LIC premium payments | 2 points per ₹100 | About 0.4% |
| Foreign currency transactions | 2 points per ₹100 | About 0.4% |
| All other eligible spends | 1 point per ₹100 | About 0.2% |
Earns nothing on: fuel transactions, wallet loads and EMI conversions.
What you would actually earn
Pay ₹40,000 of LIC premiums a year and spend ₹1 lakh elsewhere on the card, and you collect 800 + 1,000 = 1,800 points, worth about ₹360 a year. That is modest, but the card has no fee, so there is no break-even point to reach. Its real value is convenience: paying premiums on time by card, and getting up to 50 days of interest-free credit when you clear the bill in full.
Because the points are worth so little, it makes sense to keep this card for LIC premiums and the odd foreign currency purchase, and use a stronger cashback card for groceries, shopping and bills. Always set up an auto-debit for the full amount so a forgotten bill never turns your premium into an expensive loan.
LIC Platinum vs LIC Signature
| LIC Platinum | LIC Signature | |
|---|---|---|
| Joining and annual fee | Free | Free |
| LIC premium rewards | 2 points per ₹100 | 2 points per ₹100 |
| Other spends | 1 point per ₹100 | 1 point per ₹100 |
| Domestic lounge access | Not listed | Up to 8 a year |
| Salaried income needed | ₹3 lakh a year | ₹5 lakh a year |
Fees and charges
| Joining fee | Free |
|---|---|
| Annual fee | Free, for life |
| Fuel surcharge | 1% waiver on ₹400–₹4,000 at all petrol pumps, up to ₹400 a month |
Eligibility
| Age | 21 to 65 years |
|---|---|
| Employment | Salaried or self-employed |
| Income (salaried) | ₹3,00,000 a year |
| Income (self-employed) | ITR above ₹4,50,000 a year |
| Credit score | 735 or above |
| First credit card? | Not allowed |
Documents you will need
- Identity: PAN card (or Form 60)
- Address: Aadhaar, passport or a recent utility bill
- Income: latest salary slips or bank statements
- Photo: a recent passport-sized photograph
How to apply
- Tap Apply on Axis Bank site on this page to open Axis Bank’s credit card application.
- Fill in the form in one session, using the mobile number linked to your Aadhaar.
- If your home and office are 150 km or more apart, choose your residence as the mailing address.
- Complete video KYC when asked, from within about 50 km of your Aadhaar or communication address.
- Once the card arrives, activate it with a first purchase of ₹100 or more within 30 days.
Who should get it, and who shouldn’t
Get it if you are an LIC policyholder earning between ₹3 lakh and ₹5 lakh a year and want a free card dedicated to premium payments.
Skip it if you earn enough for the LIC Signature card, which adds lounge access at the same zero cost, or if you want meaningful rewards on daily spending.
