Axis
LIC Axis Platinum Credit Card
LIFETIME FREE Card
This is an invite only card
Apply and get ₹425 Rewards
Top Benefits
Earn 2 Reward Points on Every ₹100 Spent
on LIC Premium payments and foreign currency transactions
Earn 1 Reward Point on Every ₹100 Spent
on all other eligible transactions
Best For
Shopping
If you regularly pay premiums for your life insurance policies and want a straightforward way to save m...
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If you regularly pay premiums for your life insurance policies and want a straightforward way to save m...
If you regularly pay premiums for your life insurance policies and want a straightforward way to save money while doing so, the LIC Axis Bank Platinum Credit Card is built exactly for you. Co-branded with the Life Insurance Corporation of India and Axis Bank, this lifetime free Visa credit card offers a practical way to earn solid reward points on your insurance payments and international spends without worrying about yearly maintenance charges.
The standout feature of this credit card is its impressive reward conversion rate. While most entry-level cards value a single point at just a fraction of a rupee, every reward point on this card holds a value of Rs. 0.67. This means when you earn 2 reward points for every Rs. 100 spent on your LIC premiums or foreign currency transactions, you are effectively getting a 1.34% return on your spending. Because it carries zero joining or annual fees, every rupee you save goes straight into your pocket.
This card works great for individuals stepping into the credit card world or those looking for a dedicated secondary card specifically for their insurance and travel needs. However, if your daily expenses revolve heavily around groceries, utility bills, or fuel, you might find its exclusion list slightly restrictive. Let us break down everything this card has to offer.
View FAQ
Commonly Asked Questions
Is the LIC Axis Bank Platinum Credit Card lifetime free?
Yes, this card is issued as a lifetime free credit card. You do not have to pay any one-time joining fee or recurring annual renewal fees to maintain your active account.
Who should apply for this credit card?
This card is perfect for people who frequently pay LIC insurance premiums and want a dedicated, zero-fee card to maximize their returns. It is also a good fit for beginners looking for their first credit card due to its accessible minimum income requirement of Rs. 25,000 per month.
What is the base reward rate on regular purchases?
For all standard eligible purchases, you earn 1 reward point for every Rs. 100 spent. Since each point equals Rs. 0.67, you get an effective return of 0.67% on your everyday shopping.
Can self-employed individuals get this card?
Yes, both salaried professionals and self-employed individuals can easily apply. You just need to show a minimum monthly income of Rs. 25,000 and maintain a credit score around 720 for a smooth approval process.
Expert Review
In my experience analyzing entry-level finance products, the LIC Axis Bank Platinum Credit Card does exactly what it says on the tin without trying to complicate things. The combination of being lifetime free and offering a Rs. 0.67 value per reward point makes it a reliable workhorse for paying insurance premiums. The 1.34% effective return on LIC payments is generous for a card that costs nothing to maintain.
However, it is impossible to ignore the massive list of category exclusions. The fact that you earn zero rewards on utilities, education, and telecom makes this card virtually useless for running your household expenses. Furthermore, it lacks lifestyle benefits like airport lounge access or dining discounts. My verdict is simple: get this card strictly to pay your LIC premiums, or use it as a safe first card to build your CRIF score. But if you want a primary card for daily shopping and bills, you will need to look elsewhere.
Joining / Annual Fee
Joining Fees
₹0 ( ₹0 + GST )
Annual Fees
₹0 ( ₹0 + GST )
One of the strongest reasons to add the LIC Axis Bank Platinum Credit Card to your wallet is its cost-f...
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One of the strongest reasons to add the LIC Axis Bank Platinum Credit Card to your wallet is its cost-f...
One of the strongest reasons to add the LIC Axis Bank Platinum Credit Card to your wallet is its cost-free nature. This card is issued as a lifetime free product right out of the gate. You do not have to pay a single rupee as a joining fee when you receive the card. This instantly puts you in a profitable position because every reward point you earn is pure profit, with no upfront cost to recover.
Furthermore, the bank does not charge any annual or renewal fees in the second year or any year after that. You never have to worry about hitting specific annual spending milestones just to get your fee waived. Whether you spend Rs. 5,000 in a year or Rs. 5,00,000, the annual fee remains permanently zero. This makes it an absolutely risk-free card to hold, even if you only plan to use it once a year for your yearly life insurance premium.
View FAQ
Commonly Asked Questions
How much is the one-time joining fee?
The joining fee for this credit card is exactly Rs. 0. You will not be charged anything for the issuance of your new card.
What is the annual renewal fee for the second year?
The annual renewal fee is Rs. 0. The bank does not charge any yearly maintenance fees for as long as your account remains active.
Do I need to spend a certain amount to waive the annual fee?
No, there are no spending targets to hit. Because the card is naturally lifetime free, the annual fee waiver is automatic without requiring any minimum spends.
Will the bank start charging an annual fee after 3 years?
The card remains free from annual fees for the entire duration you hold it. The bank will not introduce an annual fee at a later stage.
Are add-on cards also lifetime free?
Up to 3 add-on cards issued for family members under a lifetime free primary card are also free of charge.
Is there any hidden processing fee during the application?
Axis Bank does not charge any hidden processing fees or application fees for issuing this credit card.
What happens if I do not use the card for six months?
Even if left unused, you will not face any penalty or annual fee charges. However, RBI guidelines state that a card inactive for over a year faces automatic closure, so occasional use is required to keep the account open.
Does the lifetime free offer apply to everyone?
Yes, this card variant is offered as lifetime free to all applicants who meet the mandatory eligibility criteria.
Eligibility
Age
Criteria*
18-70 years
Salary
Criteria*
3LPA
Credit
Rating*
720+
New to credit
allowed
Yes
Existing Bank
Customer Allowed
Yes
The bank has kept the application process accessible by maintaining straightforward eligibility criteri...
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The bank has kept the application process accessible by maintaining straightforward eligibility criteri...
The bank has kept the application process accessible by maintaining straightforward eligibility criteria. The primary applicant must be at least 18 years old to apply, making it an excellent option for young adults. The maximum age limit at the time of application is capped at 70 years. Applicants falling within the 21 to 60 age bracket experience the highest approval rates and fastest processing times.
Income requirements are identical whether you work for a company or run your own business. You need a minimum monthly income of Rs. 25,000. For salaried individuals, this means bringing home Rs. 3 Lakhs annually. For self-employed professionals, your Income Tax Return (ITR) must show a minimum declared income of Rs. 3 Lakhs per year. Maintaining a healthy credit profile is essential; a CRIF or CIBIL score of 720 or above ensures a smooth, hassle-free approval process.
View FAQ
Commonly Asked Questions
What is the minimum age to apply for this card?
The minimum age requirement is 18 years, allowing college students and young professionals to apply if they meet the income criteria.
Is there an upper age limit for applicants?
Yes, the maximum age limit to be eligible for this credit card is 70 years at the time of submitting your application.
What is the ideal age group for instant approval?
Applicants between 21 and 60 years old have the highest chances of getting approved quickly based on bank approval statistics.
What is the minimum salary required for salaried employees?
Salaried individuals must earn a minimum of Rs. 25,000 per month. This equates to an annual income requirement of Rs. 3 Lakhs.
What are the income rules for self-employed individuals?
Self-employed business owners and freelancers also need to show an annual income of Rs. 3 Lakhs, which is verified through recent tax returns.
Can I apply if I earn Rs. 20,000 per month?
Since the strict minimum income requirement is Rs. 25,000 per month, an income of Rs. 20,000 results in your application being rejected.
What credit score is needed to get this card?
A minimum CRIF or CIBIL credit score of 720 is required to clear the basic creditworthiness checks for this card.
Will I be rejected if my credit score is exactly 700?
A score of 700 is below the recommended threshold, which significantly increases the risk of rejection. Approval in such cases depends on maintaining a significant savings balance or an existing high-value relationship with Axis Bank.
Can people without any credit history apply?
Beginners with no credit history are eligible to apply provided they strictly meet the Rs. 25,000 monthly income rule and have a stable employment history.
All Card Benefits
- Earn 2 Reward Points per ₹100 spent on LIC insurance premium payments, valid only on transactions made through official LIC premium payment gateways and not through any third-party applications
- Earn 2 Reward Points per ₹100 spent on foreign currency transactions
- Earn 1 Reward Point per ₹100 spent on other eligible purchases
- Complimentary personal accident insurance cover of ₹3 lakh
- Complimentary air accident insurance cover of ₹1 crore when air ticket is purchased using the card and the card has been used at a merchant or ATM within 90 days prior to the incident
Welcome Benefits
The LIC Axis Bank Platinum Credit Card focuses entirely on keeping your costs at ze...
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Welcome Benefits The LIC Axis Bank Platinum Credit Card focuses entirely on keeping your costs at ze...
Welcome Benefits
The LIC Axis Bank Platinum Credit Card focuses entirely on keeping your costs at zero rather than offering upfront welcome bonuses. As a lifetime free product, the card does not provide any complimentary vouchers, bonus reward points, or subscriptions when you join. Your benefit begins immediately in the form of zero joining fees. You simply activate the card by making a minimum transaction of Rs. 100 within the first 30 days to ensure your reward account becomes active.
Reward Points Structure
The reward system is where this card truly shines, primarily because of the high rupee value attached to each point. You earn 2 reward points for every Rs. 100 you spend on LIC insurance premium payments. If you pay a yearly premium of Rs. 50,000, you will earn 1,000 reward points. Because each point is worth Rs. 0.67, those 1,000 points give you a direct value of Rs. 670. Similarly, you earn 2 reward points per Rs. 100 spent on foreign currency transactions. If you book a hotel abroad worth Rs. 1,00,000, you will collect 2,000 reward points, translating to Rs. 1,340 in value. For all other eligible retail and online purchases, you earn 1 reward point per Rs. 100 spent. Spend Rs. 10,000 on clothes, and you get 100 points worth Rs. 67.
Fuel Surcharge Waiver
To help you save on your daily commute, this card offers a 1% fuel surcharge waiver across all petrol pumps in India. This benefit applies to transactions ranging strictly between Rs. 400 and Rs. 4,000. For instance, if you fill up fuel worth Rs. 2,000, the 1% surcharge of Rs. 20 will be waived off. Keep in mind that the maximum surcharge waiver you can claim in a single billing month is capped at Rs. 400. While you get the surcharge waived, fuel spends will not add any reward points to your account.
Insurance and Protection Benefits
Carrying a credit card comes with the risk of misplacing it, but the LIC Axis Bank Platinum Credit Card offers peace of mind with complimentary lost card liability cover. If you lose your card or it gets stolen, you are protected against fraudulent transactions up to your total credit limit. This protection becomes active the moment you report the loss to Axis Bank customer care. For example, if your card limit is Rs. 1,00,000 and someone makes a fraudulent swipe of Rs. 50,000 after you report it missing, you are fully shielded from that financial loss.
View FAQ
Commonly Asked Questions
Will I receive any welcome points when I activate the card?
No, this specific card does not offer any welcome points or sign-up bonuses upon activation. Its main upfront benefit is the complete waiver of joining fees.
Do I need to spend a specific amount to start using the card?
To officially activate your reward account, the bank requires a minimum transaction of Rs. 100 within the first 30 days of receiving your card.
Are there any complimentary brand vouchers provided?
This card does not provide any complimentary brand vouchers for shopping or dining as part of a welcome package.
What happens if I do not make the Rs. 100 transaction in 30 days?
If you fail to make the Rs. 100 activation transaction within 30 days, your ability to accumulate reward points on subsequent purchases is suspended. You must call the Axis Bank customer care to request a manual reactivation of the reward program for your card.
How many points do I earn on LIC premium payments?
You earn 2 reward points for every Rs. 100 spent on your LIC premium payments. For example, a premium payment of Rs. 20,000 will give you 400 reward points.
What is the reward rate for international spending?
International transactions in a foreign currency earn 2 reward points per Rs. 100 spent. If you spend Rs. 5,000 on an international website, you earn 100 points.
How many points do I get for everyday shopping?
For regular eligible purchases like groceries or apparel, you earn 1 reward point per Rs. 100 spent. A Rs. 3,000 grocery bill earns 30 points.
What is the exact monetary value of one reward point?
One reward point on this card equals Rs. 0.67. This high conversion rate means 1,000 points are worth Rs. 670 in real value.
Are there any exclusions to earning these points?
Yes, spends on utilities, telecom, education, rent, wallet loads, government services, gold, jewellery, fuel, and EMI repayments do not earn any reward points.
Will I earn points if I pay my electricity bill?
No, electricity bills fall under the utilities category. You will not earn any reward points for paying utility bills of any amount.
Can I earn points on fuel purchases?
Fuel transactions are strictly excluded from the rewards program. A Rs. 2,000 fuel purchase earns zero points, though you may get a surcharge waiver.
Do rent payments qualify for reward points?
Rent payments do not earn any reward points. Additionally, the bank charges a 1% fee on the rent payment amount.
Is there an upper limit on how many points I can earn?
There is no monthly or annual limit on reward points accumulation. You earn points on all eligible category spends throughout the year as long as you stay within your credit limit.
How do I track the reward points I have accumulated?
You can track your total accumulated reward points by logging into your Axis Bank mobile app, via internet banking, or by checking your monthly credit card statement.
What is the fuel surcharge waiver on this card?
You get a 1% fuel surcharge waiver on your fuel transactions at any petrol station across India.
What is the minimum amount required to get the fuel waiver?
Your fuel transaction must be at least Rs. 400 to qualify for the 1% surcharge waiver.
Is there a maximum transaction limit for the waiver?
Yes, the surcharge waiver only applies to individual fuel transactions up to Rs. 4,000. Anything above that limit in a single swipe will not qualify for the waiver.
How much can I save on fuel each month?
The maximum fuel surcharge waiver you can earn is Rs. 400 per month. This means you get the waiver on up to Rs. 40,000 worth of eligible fuel spends monthly.
Does the surcharge waiver include the GST amount?
The 1% waiver applies strictly to the fuel surcharge levied by the bank. Any GST charged on the surcharge amount is not reversed and must be borne by you.
What happens if I lose my credit card?
You must immediately report the loss to Axis Bank customer care. Once reported, you are protected by the lost card liability cover against unauthorized transactions.
How much protection does the liability cover offer?
The liability cover protects you against fraudulent transactions up to the maximum credit limit assigned to your card.
Does the card offer any life insurance coverage?
Even though it is an LIC co-branded card, it does not offer complimentary life insurance. It only provides protection against lost card liability.
Are online fraudulent transactions covered under this?
The lost card liability covers physical unauthorized swipes after reporting. Online fraud protection is provided according to the RBI zero-liability policy when the fraud is reported within three working days.
How to Redeem Rewards & Cashback?
Rewards Conversion Rate
1 point = ₹0.67
Redemption Options
- E-vouchers (e.g., Amazon)
- Merchandise/Catalogue items
To check redemption catalogue
Accumulating points is only half the journey; redeeming them easily is what makes a card valuable. The ...
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Accumulating points is only half the journey; redeeming them easily is what makes a card valuable. The ...
Accumulating points is only half the journey; redeeming them easily is what makes a card valuable. The LIC Axis Bank Platinum Credit Card uses the Axis Edge Rewards platform. To redeem your accumulated points, you need to visit the dedicated portal at https://edgerewards.axis.bank.in/lms/ or access it directly through your Axis Bank mobile app.
The bank does not charge any reward redemption fees, meaning every point you earn retains its full value. Remember, 1 reward point equals a solid Rs. 0.67. You can exchange your points for popular e-vouchers from brands like Flipkart or choose physical merchandise from their extensive catalogue. For practical context: if you have saved up 3,000 reward points from paying your insurance premiums all year, that equates to Rs. 2,010 in value. You can simply log into the Edge Rewards portal, select a Flipkart voucher worth Rs. 2,000, and checkout using your points completely free of charge.
View FAQ
Commonly Asked Questions
Where do I go to redeem my reward points?
You must visit the official Axis Edge Rewards website (https://edgerewards.axis.bank.in/lms/) or use the reward section inside the Axis Bank mobile app.
What options do I have for redemption?
You can redeem your points for e-vouchers from top brands like Flipkart, or pick physical products and merchandise from the Edge Rewards catalogue.
Is there any fee charged when I redeem my points?
No, there is absolutely no reward redemption fee on this card. Redeeming your points is a completely free process.
What is the rupee value of my points during redemption?
Each reward point converts to Rs. 0.67. For example, a balance of 1,000 points will buy you an e-voucher worth Rs. 670.
Is cashback auto-credited to my statement?
This is a reward points card, not a direct cashback card. You must manually log into the portal to redeem your points for vouchers or merchandise.
Is there a minimum point balance required to redeem?
Most vouchers on the Edge platform require a minimum point balance of 500 points. Check the specific voucher details on the portal for the exact requirement.
Do my reward points ever expire?
Reward points on this card expire exactly 3 years from the date of accumulation.
What happens to my points if I cancel my card?
If you close your credit card account, all unredeemed reward points are permanently forfeited. You must redeem your balance fully before initiating a cancellation request.
Gift card - Key Terms
Once you apply, we will start tracking your application
Generally takes 2-72 hrs
Once the bank confirms us of your successful card activation, we will process your rewards
Generally takes 7-75 days
You can then withdraw your rewards via Amazon Pay Balance/Flipkart gift cards
Generally takes 7-75 days
Note: If you currently hold or have ever held an Axis Credit Card, you are not eligible for CashKaro Rewards.
Rewards Related
- If you currently hold or have ever held an Axis Credit Card, you are not eligible for Gift Card
- A minimum transaction of Rs.100 within 30 days is mandatory to activate your card; otherwise, you wont be eligible for the Rewards
- Please use Aadhaar linked mobile number to fill the application
- If the distance between your residence and office addresses is 150 km or more, please ensure that your residence is selected as the mailing address. Applications not adhering to this will be rejected
- VKYC done over 50km from your Aadhaar/communication address will result in application rejection and loss of Rewards
Also, Remember
- Resume your application only via Great.Cards to avoid losing Rewards
- If your Rewards do not track, raise a Missing Rewards Ticket within 30 Days from the application date
- Rewards can only be redeemed as Amazon Pay Balance and Flipkart Gift Card
Bank Exclusions
You will not earn points / cashback on spends in the following categories
For Points / Cashback Earnings
Utilities & Telecom
Education Fees
Rent
Wallet Load
Government Spends
Gold & Jewellery
Fuel
Cash Advances
Repayments
For Spends Waiver
Utilities & Telecom
Education Fees
Rent
Wallet Load
Government Spends
Gold & Jewellery
Fuel
Cash Advances
Repayments
To maximize your benefits, you must know where the card will not work for you. Axis Bank has outlined a...
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To maximize your benefits, you must know where the card will not work for you. Axis Bank has outlined a...
To maximize your benefits, you must know where the card will not work for you. Axis Bank has outlined a strict list of spending categories that are completely excluded from the rewards program. When you swipe your card for these expenses, the transaction will go through successfully, but your reward points balance will stay exactly the same.
The excluded categories include Utilities, Telecom, Education, Rent, Wallet loading, Government services, Gold and Jewellery purchases, Fuel, Cash advances, and any kind of EMI or loan Repayments. For example, if you pay a Rs. 3,000 electricity bill (Utility), add Rs. 5,000 to your Paytm wallet (Wallet load), and pay Rs. 15,000 for your child's school fees (Education), you will spend a total of Rs. 23,000 but earn zero reward points. Keep these exclusions in mind and use alternative payment methods like UPI if you wish to avoid paying convenience fees on transactions that yield no rewards anyway.
View FAQ
Commonly Asked Questions
Which transactions will not earn any reward points?
Spends on utilities, telecom, education, rent, wallet loads, government services, gold, jewellery, fuel, cash advances, and EMI repayments are fully excluded from earning points.
Will I earn points if I buy gold jewellery?
No. Purchasing gold or jewellery for any amount is excluded from the rewards program and will not generate any points.
Does paying my mobile or broadband bill earn points?
Telecom and utility payments are excluded. A Rs. 1,500 broadband bill payment will yield exactly zero reward points.
Do rent payments earn any rewards?
Rent payments are excluded from reward points. Additionally, a 1% processing fee applies to the transaction, making it costly to use the card for rent.
Can I load my digital wallets to earn points?
No, adding money to digital wallets like Amazon Pay or Paytm is excluded. A wallet load of Rs. 5,000 will result in zero points.
Do government tax payments earn points?
Payments made for government services, including income tax or property tax payments, are completely excluded from the rewards structure.
Will I lose existing points if I spend in an excluded category?
No, spending in an excluded category does not deduct points from your existing balance. You simply do not earn any new points for that specific transaction.
Bank Fee Structure
| Structure | Details |
|---|---|
Forex Markups  3.5% forex markup is charged on transactions made in currencies other than INR. Applies to international POS payments and online purchases charged in foreign currency | 3.50% |
APR Fees Finance charges of 3.60% per month (43.2% per annum) apply on unpaid outstanding balances until the amount is fully repaid | 3.60% |
ATM withdrawal 2.5% of the withdrawn amount is charged on cash advances using the credit card (minimum ₹500, if applicable) | 2.50% |
Reward Redemption Fees Charged per redemption request | ₹30 |
Link for all T&Cs | Click Here |
Railway Surcharge A railway booking surcharge of 1.80% for online transactions and 2.50% for other bookings is applied, with additional bank charges and taxes recovered at actuals. | 1.80% |
Rent Payment Fees This fee is not applicable for this card. | Not Applicable |
cheque Payment Fees A fee of 2% of the payment amount is levied for cheque return, cheque dishonour, or auto-debit reversal, subject to a minimum of ₹450 | 2% |
Cash Payment Fees Fee for paying the bill in cash at the branch | ₹100 |
| Late Payment Fees | Amount Due |
|---|---|
| ₹0–₹300 | ₹0 |
| ₹301–₹500 | ₹100 |
| ₹501–₹1,000 | ₹500 |
| ₹1,001–₹10,000 | ₹750 |
| ₹10,001–₹25,000 | ₹950 |
| ₹25,001–₹50,000 | ₹1,000 |
| Above ₹50,000 | ₹1,200 |
Understanding the fee structure is critical to ensuring your credit card remains a tool for savings rat...
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Understanding the fee structure is critical to ensuring your credit card remains a tool for savings rat...
Understanding the fee structure is critical to ensuring your credit card remains a tool for savings rather than a source of debt. While the LIC Axis Bank Platinum Credit Card promotes a lifetime free model, it does carry standard banking penalties and operational charges for specific services like cash withdrawals, late payments, and international usage. Let us break down exactly what each fee means for your wallet.
The joining fee for this card is Rs. 0. You are enrolled on a lifetime free basis, meaning you do not pay anything upfront to start using the card. This benefit applies immediately upon approval.
The annual or renewal fee is also Rs. 0. Because it is a lifetime free card, you do not have to worry about hitting any annual spending targets to trigger a waiver. Whether you spend Rs. 10,000 or Rs. 1 Lakh over the year, you will never see an annual membership fee on your statement.
The APR (Annual Percentage Rate) applied on carried retail balances and cash withdrawals is 3.75% per month, which calculates to 55.55% annually. For example, if you miss paying a Rs. 10,000 balance by the due date, the bank will charge you Rs. 375 in interest for that single month, plus 18% GST on the interest amount. Paying your bill in full every month is the only way to avoid this massive charge.
Late payment charges kick in if you fail to pay the Minimum Amount Due. The slabs are structured progressively: Rs. 0 for balances up to Rs. 500; Rs. 500 for balances between Rs. 501 to Rs. 5,000; Rs. 750 for balances between Rs. 5,001 to Rs. 10,000; and Rs. 1,200 for outstanding balances above Rs. 10,000. If your outstanding bill is Rs. 4,500 and you miss the payment, you will be hit with a Rs. 500 penalty.
The forex markup fee is set at 3.5% for any transactions made in a foreign currency. If you are travelling abroad or buying software online and spend USD 100 (approximately Rs. 8,300), the bank will add a 3.5% markup fee. This means you will pay an extra Rs. 290.50 just for the currency conversion privilege.
An ATM cash withdrawal fee of 2.5% is levied on the amount you withdraw, subject to a strict minimum charge of Rs. 500. If you withdraw Rs. 10,000 in cash from an ATM using your credit card, 2.5% equals Rs. 250. Because this is lower than the minimum, the bank will charge you the flat Rs. 500 fee instead. Plus, interest begins accruing from day one.
A rent payment fee of 1% is charged on the total transaction amount when you use your card to pay house rent. If your monthly rent is Rs. 20,000 and you push the payment through a real estate portal using this credit card, Axis Bank will add a Rs. 200 convenience fee to your next statement.
The railway surcharge applies when booking train tickets. You face a 1.80% surcharge for online bookings and a 2.50% surcharge for over-the-counter bookings. If you book a family train ticket online for Rs. 5,000, you will be charged an extra Rs. 90 as a booking surcharge.
A cash payment fee of Rs. 175 is applied if you decide to walk into an Axis Bank branch and clear your credit card bill by handing physical cash to the teller. If your bill is Rs. 2,000 and you pay in cash, you effectively end up paying Rs. 2,175. It is always smarter to use free digital methods like NEFT or UPI.
A cheque payment fee of Rs. 500 is specifically charged if you use an outstation cheque to pay your credit card bill. If you clear a Rs. 15,000 bill using a cheque drawn on a bank from a different clearing city, a massive Rs. 500 penalty fee will be slapped onto your account.
The reward redemption fee on this card is Not Applicable (Rs. 0). The bank allows you to convert your reward points into vouchers or merchandise completely free of cost. If you redeem points for a Rs. 1,00,000 Flipkart voucher, you get exactly Rs. 1,00,000 without any processing charges eating into your savings.
| Fee Type | Amount / Rate |
|---|---|
| Joining Fee | Rs. 0 (Lifetime Free) |
| Annual Fee | Rs. 0 (Lifetime Free) |
| Interest Rate (APR) | 3.75% per month (55.55% annually) |
| Late Payment Fine | Up to Rs. 1,200 depending on balance |
| Forex Markup Fee | 3.5% |
| ATM Cash Withdrawal | 2.5% (Minimum Rs. 500) |
| Rent Payment Fee | 1% of transaction amount |
| Railway Surcharge | 1.80% online / 2.50% offline |
| Cash Payment Fee | Rs. 175 per payment |
| Outstation Cheque Fee | Rs. 500 per payment |
| Reward Redemption Fee | Rs. 0 (Not Applicable) |
View FAQ
Commonly Asked Questions
What are the joining fees for this card?
The joining fee is Rs. 0. You get the card on a lifetime free basis without any initial setup charges.
What is the annual renewal fee?
The annual fee is Rs. 0. There are no yearly maintenance charges applied in the second year or beyond.
Is there a spending target to waive the annual fee?
No, because the card is inherently lifetime free, you do not need to meet any monthly or yearly spending targets to keep the fee at zero.
What is the interest rate if I only pay the minimum due?
The interest rate is 3.75% per month, which equals 55.55% a year. Paying a Rs. 5,000 balance late costs you Rs. 187.5 in monthly interest.
How much is the late payment fee?
Late fees are slab-based. For a balance under Rs. 500, it is Rs. 0. For Rs. 501 to Rs. 5,000, it is Rs. 500. It maxes out at Rs. 1,200 for balances above Rs. 10,000.
What is the markup fee for foreign currency transactions?
The bank charges a 3.5% forex markup. Spending Rs. 10,000 on an international website will result in a fee of Rs. 350.
Can I withdraw cash from an ATM with this card?
Yes, but it is highly discouraged. A fee of 2.5% of the withdrawal amount is charged, subject to a minimum of Rs. 500, and interest starts immediately.
How much will it cost to withdraw Rs. 2,000 from an ATM?
Even though 2.5% of Rs. 2,000 is only Rs. 50, you are hit with the mandatory minimum cash advance fee of Rs. 500.
Is there a fee for paying rent using this card?
Yes, the bank imposes a 1% processing fee on rent payments. A Rs. 10,000 rent transfer costs an extra Rs. 100.
Will I be charged if I pay my credit card bill in cash at the branch?
Yes, depositing physical cash to clear your credit card bill at an Axis Bank branch attracts a cash handling fee of Rs. 175.
What happens if I use an outstation cheque to pay my bill?
The bank charges a Rs. 500 fee for processing outstation cheques. Use NEFT or UPI to pay your bills safely and for free.
Does the bank charge me to convert my points to vouchers?
No. The reward redemption fee is Rs. 0. Redeeming your points is completely free.
Documents Required
To process your application smoothly, you must provide proof of identity, address, and income. Having these ready prevents unnecessary delays.
You need your PAN Card as the primary identity document. For address proof, an Aadhaar Card, Passport, or Voter ID is acceptable. To prove your income, salaried employees should provide their latest two months' salary slips and the last three months' bank statements showing salary credits. Self-employed applicants must submit their latest Income Tax Return (ITR) computation along with business continuation proof.
View FAQ
Commonly Asked Questions
What identity documents are required?
You must provide a clear copy of your PAN card along with another government ID like your Aadhaar card, passport, or voter ID for identity verification.
What serves as valid address proof?
Your Aadhaar card, passport, driving license, or a recent utility bill in your name can serve as acceptable address proof for the application.
What income proof do salaried employees need?
Salaried applicants need to submit their latest two months' salary slips and a bank statement covering the last three months showing the salary credits.
What income proof is needed if I am self-employed?
Self-employed applicants must provide their latest Income Tax Return (ITR) documents along with recent business bank statements for financial verification.
Do I need physical copies if I opt for Video KYC?
You must have the original physical PAN card in your hand to show the camera agent during the Video KYC call, but you do not need to mail paper photocopies.
Is a photograph required?
During Video KYC, the agent will capture a live photograph of your face. If applying offline, you will need to provide standard passport-sized color photographs.
Who Should Get This Card?
This card makes perfect sense for "The Responsible Planner." If you are someone who sets aside money every year to pay massive LIC life insurance premiums for your family, this card turns that massive expense into an opportunity. Earning an effective 1.34% back on a Rs. 1 Lakh premium yields Rs. 1,340 in value. Combine that with the fact that it is lifetime free, and it becomes a worry-free financial tool.
On the flip side, "The Daily Spender" should skip this. If you are a young professional looking for cashback on Swiggy, discounts on Myntra, and heavy points for paying your rent and utility bills, this card's strict exclusion list will leave you frustrated. Without dining perks or lifestyle rewards, it is too specialized to serve as a primary daily-driver card for heavy spenders.
Credit Limit and What to Expect
Your credit limit is customized based on your financial health. Axis Bank analyzes your monthly income of Rs. 25,000 or more, alongside your CRIF score of 720+, to determine your purchasing power. If you already hold credit cards with high limits and have a pristine repayment history, you receive a higher starting limit. For first-time users earning the minimum requirement, the bank assigns a starting limit between Rs. 25,000 and Rs. 50,000, which is increased later through disciplined usage and timely bill payments.
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Commonly Asked Questions
What will be my starting credit limit?
The starting limit ranges from Rs. 25,000 to Rs. 2,00,000 depending on your verified income, existing debts, and credit score.
Can I request a higher limit immediately after getting the card?
The bank requires you to use the card responsibly for a minimum of 6 months before you can apply for a credit limit enhancement.
Will paying my LIC premiums increase my credit limit?
Paying large premiums and clearing the credit card bill in full before the due date builds an excellent repayment history, which makes you a strong candidate for future limit increases.
Does the bank share my credit limit during the application?
Your exact credit limit is finalized and communicated only after the final approval step. It is printed on the welcome letter delivered with your physical card.
What happens if I try to spend beyond my credit limit?
Transactions exceeding your assigned credit limit are declined unless you have enabled over-limit facilities. If approved, they attract an over-limit fee of 2.5% of the over-limit amount, subject to a minimum of Rs. 500.
Can I lower my credit limit if I feel it is too high?
Yes, you can easily log into the Axis Bank mobile app and set personal transaction limits or permanently decrease your overall credit limit for safety purposes.
How to Apply?
Securing your LIC Axis Bank Platinum Credit Card is a quick and digital-friendly process. You can apply directly through the Axis Bank official website or via trusted partner platforms like BankKaro. You simply need to fill in your personal details, employment information, and monthly income to check your preliminary eligibility.
Once your initial details are verified, you can complete the process using Video KYC from the comfort of your home. Ensure you are sitting in a well-lit room with a stable internet connection. Keep your original PAN card and Aadhaar card handy to show the bank executive. Once the KYC is successfully completed, the bank takes 7 to 10 working days to process the application and dispatch the physical card to your registered address.
View FAQ
Commonly Asked Questions
Can I apply for this card online?
Yes, the entire application process is digital. You can apply through the official bank website or financial platforms like BankKaro.
What is Video KYC and do I have to do it?
Video KYC is a digital verification process where an agent verifies your identity over a video call. It is mandatory for completing the online application without visiting a branch.
What documents do I need during the Video KYC call?
You must have your original physical PAN card, your Aadhaar number, and a blank piece of paper with a blue or black pen for a live signature.
How long does the bank take to approve the application?
Once your Video KYC and document verification are successful, approval and card generation take exactly 7 to 10 working days.
How can I track my credit card application?
You will receive an Application Reference Number via SMS. You can use this number on the bank's tracking portal to check your real-time status.
What should I do if my Video KYC fails due to poor internet?
If your call disconnects, use the link sent to your SMS/email to restart the process. If it fails three consecutive times, you must complete physical KYC by visiting an Axis Bank branch.
That’s the full story of this credit card
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Top Benefits
Apply and get ₹425 Rewards
Top Benefits
Earn 2 Reward Points on Every ₹100 Spent
on LIC Premium payments and foreign currency transactions
Earn 1 Reward Point on Every ₹100 Spent
on all other eligible transactions
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