IDFC LIC Co Branded Credit Cards | IDFC LIC Classic Credit Card Vs LIC Select Credit Card Comparison 2024

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This article attempts to cover all details about IDFC LIC co branded credit card, lounge access, eligibility, charges, benefits, apply online, variants, welcome offer and many more

IDFC LIC Co Branded Credit Card Welcome Offer | LIC IDFC Classic Card Welcome Offer | LIC IDFC Select Credit Card Welcome Offer

Welcome BenefitsLIC Classic CardLIC Select Card
Welcome Rewards On Spends Within 30 DaysEarn ₹1,000 Rewards for the first ₹5,000 spentEarn ₹2,000 Rewards for the first ₹10,000 spent
Cashback On 1st EMI Transaction Within 30 Days5% cashback (up to ₹1,000)
Flat Discount On Flight Booking On Yatra₹500 discount on Domestic Flight bookings
Flat Discount On MyGlamm₹500 discount on purchases of ₹899 and above
Free Complimentary PharmEasy Plus Membership6-month membership worth ₹399.
Free Complimentary Lenskart Gold Membership1-year worth ₹500.
Other Benefits  
Convert to EMITransactions ₹2,500 & Above
Balance TransferAvailable

Also read: Get ₹1,800/- Cash Reward with SBI Cashback Credit Card Apply !!!!

IDFC LIC Co Branded Credit Card Privileges | LIC IDFC Classic Card Privileges | LIC IDFC Select Credit Card Privileges

PrivilegesLIC Classic CardLIC Select Card
Minimum Monthly Spends For Domestic Airport Lounge Access₹ 5,000₹ 5,000
No. Of Visits Per Quarter to Airport Lounges1 Complimentary Visit2 Complimentary Visits
No. Of Visits Per Calander Quarter to Railway Lounges2 Complimentary Visit4 Complimentary Visits
Fuel Surcharge Waiver Per Statement1% Upto ₹ 200 1% Upto ₹ 300 
Personal Accident Cover₹ 2,00,000₹ 5,00,000
Purchase Protection, Credit Shield & Lost Card Liability Cover₹25,000 each
Roadside AssistanceWorth ₹1,399
Travel Insurance on Loss Of Baggage, Passport & Other DocumentNot Applicable₹ 4,000
Air Accident CoverNot Applicable₹ 1,00,00,000

Other Terms & Conditions for Airport Lounge Access

  • Expenditures made between the 1st and 30th/31st of any calendar month will be considered for access in the following month.
  • Based on the spending in the previous month, this benefit will be activated by the 5th of the next month and will remain valid until the 5th of the consecutive month.
  • The aforementioned terms and conditions apply to both the primary card and all add-on cards.
  • This benefit will be shared among the primary cardholder and all add-on cards.
  • Lounges are available on a chargeable basis for visits beyond the complimentary ones or during months when lounge access has not been activated.
  • A validation charge of ₹2 will be applied to the credit card when accessing the lounge.

Other Terms & Conditions for Railway Lounge Access

To avail of this benefit, cardholders are required to present their valid and unexpired eligible card, along with a valid train travel ticket, at the entrance of the participating lounges.

  • The card should be swiped on the DreamFolks POS terminal, and a ₹2 charge will be applied to the cardholder’s account to validate the card for complimentary lounge access.
  • The program is applicable at specific Railway Lounges in India through DreamFolks for cardholders who possess an active LIC Classic IDFC FIRST Bank Credit Card. As a standard procedure, access to the Participating Railway Lounges under the Program is contingent upon the presentation of the credit card and a valid train ticket at the lounge entrance.
  • Complimentary access to Railway lounges is extended to both Primary and add-on cardholders. The allocation of two complimentary visits per quarter is shared between them on a first-come-first-serve basis.
  • Lounge access will be granted upon successful authorization of the credit card on DreamFolks electronic terminals at the lounges. A nominal charge of ₹2 will be applied to the card to verify its validity. Once a valid card is successfully swiped for lounge access, it can only be used again after 24 hours from the last access.
  • The complimentary access to the railway lounge includes the following amenities:
  • Two hours of lounge stay.
  • Air-conditioned comfortable seating arrangements.
  • One buffet meal (Breakfast, Lunch, or Dinner based on the time of visit). Only one buffet meal, corresponding to the time of visit, will be provided to eligible cardholders.
  • Unlimited tea and coffee.
  • Free Wi-Fi.
  • Complimentary newspapers and magazines.
    Any additional services such as recliners will incur separate charges as per the operator’s pricing for those services.
  • IDFC FIRST Bank or DreamFolks bears no responsibility for the merchantability of the services, as it is an effort to provide the best possible experience.
  • IDFC FIRST Bank or DreamFolks is not responsible in case a particular lounge operator closes the lounge(s) for reasons beyond the scope of IDFC FIRST Bank or DreamFolks.
  • Lounge access is available on a first-come-first-serve basis.
  • The program may be modified, amended, changed, or revoked at any time by IDFC FIRST Bank without prior notice.
  • After 2 hours, the lounge reserves the right to charge the cardholder for respective fees.
  • If the cardholder has exhausted the permissible limits or is not eligible for a complimentary visit, they are liable to pay all applicable charges to the lounge.
  • Eligible LIC Classic IDFC FIRST Bank Cardholders can use their complimentary visit quota to bring one guest into the Railway Lounge at no extra charge. The guest must present a valid train ticket and any government-issued identity proof at the lounge entrance. Failure to present these items may result in denied access. Guest access and fees are subject to the terms and conditions of participating lounges.
  • Children below 2 years may enjoy complimentary lounge access at the discretion of lounge operators. However, for any services or food and beverages consumed, the lounge operator reserves the right to charge the cardholder.
  • For queries or assistance regarding lounge access, customers can contact DreamFolks at 18001234109 or write to [email protected].

Eligible Railway Lounge Access Outlets

# Outlet Name Railway Station City Platform Number
IRCTC Executive Lounge Agra Cantt Railway Station Agra Platform 1
IRCTC Executive Lounge Ahmedabad Kalupur Railway Station Ahmedabad Platform 1
IRCTC Executive Lounge Jaipur Railway Station Jaipur Platform 1
IRCTC Executive Lounge Kolkata (Sealdah) Railway Station Kolkata Platform 8
IRCTC Executive Lounge Madurai Railway Junction Madurai Platform 1
IRCTC Executive Lounge New Delhi Railway Station New Delhi Platform 16
IRCTC Executive Lounge New Delhi Railway Station New Delhi Platform 1
IRCTC Executive Lounge Varanasi Cantt Railway Station Varanasi Platform 1 

Also read: Best Credit Card Offers On Amazon 2024- Bank Of Baroda, HDFC Credit Card

IDFC LIC Co Branded Credit Cards Rewards Program | LIC IDFC Classic Card Rewards Program | LIC IDFC Select Credit Card Rewards Program

BasisLIC Classic CardLIC Select Card
Reward Points Value1X equals 1 Reward point per ₹125 spent, and 1 Reward point is equivalent to ₹0.25.1X equals 1 Reward point per ₹125 spent, and 1 Reward point is equivalent to ₹0.25.
LIC Insurance PaymentsReward points worth ₹1.5 on each ₹125 spent on LIC Insurance Premium i.e., 6X rewards. E.g. ₹120 saving on Premium Payment of ₹10,000 Reward points worth ₹2.5 on each ₹125 spent on LIC Insurance Premium i.e., 10X rewards. E.g. ₹200 saving on Premium Payment of ₹10,000
Essentials such as Grocery, Utilities, Railways, Education, and Government paymentsReward points worth ₹0.75 on each ₹125 spent on essentials  up to 300 Reward Points (RP) per month .i.e., 3X rewards. E.g. ₹60 saving on spends of ₹10,000 Reward points worth ₹1.25 on each ₹125 spent on essentials  up to 300 Reward Points (RP) per month .i.e., 5X rewards. E.g. ₹100 saving on spends of ₹10,000
All Other ExpensesReward points worth ₹0.75 on each ₹125 spent on all other expenditures. 3X rewards. E.g. ₹60 saving on spends of ₹10,000 Reward points worth ₹1.25 on each ₹125 spent on all other expenditures. 5X rewards. E.g. ₹100 saving on spends of ₹10,000
Reward Points Validity3 Years3 Years
RP Not Applicable OnFuel, Rental, Non-LIC Insurance spends, EMI transactions and Cash withdrawals.Fuel, Rental, Non-LIC Insurance spends, EMI transactions and Cash withdrawals.
Insurance Premium To be PaidThrough LIC Of India’s official websiteThrough LIC Of India’s official website

Also read: Apply For Lifetime Free IDFC First Millennia Credit Card & Get ₹1,000/- Now

IDFC LIC Co Branded Credit Cards Charges | LIC IDFC Classic Card Charges | LIC IDFC Select Credit Card Charges

Type Of ChargesLIC Classic CardLIC Select Card
Joining FeesNIL
Annual FeesNIL
Monthly Interest (If Minimum Due is Paid)0.75% to 3.5%
Annual Interest Rate (If Minimum Due is Paid)9% to 42%
Overdue Interest (If Minimum Due is Not Paid)3.99%47.88%
Cash Advance Transaction Fee₹ 199
Late Payment Charges15% Of Amount Due, Minimum ₹100, Maximum ₹1,250
Overlimit Charges2.5% Of Overlimit Amount
Return of Cheque/Auto Debit/Payment Return₹250 Per Return
Reward Redemption Fee₹99 Per Redemption
GST18% At Present
Rent & Property Management1% + Gst on Total Amount
EMI Processing Fees1% Of Transaction Value, Minimum ₹99
Fuel Surcharge Waiver Per Statement1% Upto ₹ 200 1% Upto ₹ 300 
Markup Fee On Foreign Currency Transaction3.50%3.50%
Cash/Cheque Processing FeeNIL
Card Replacement Fee₹ 100
Duplicate Statement RequestNIL
Outstanding Cheque Processing FeeNIL
Fees On Cash Payement At BranchesNIL

IDFC LIC Co Branded Credit Card Eligibility

EligibilityLIC Classic CardLIC Select Card
AgeThe primary cardholder must be at least 21 years old.
IncomeAnnual income should be ₹300,000 or higher.

IDFC LIC Co Branded Credit Card Apply Online

  • Step 1: Visit IDFC First bank website’s LIC Credit card section.
  • Step 2: Click On Apply Now.
  • Step 3: Enter Name as per Aadhaar, Date Of Birth & Mobile Number
  • Step 4: Fill in all other mandatory details and submit the application.

Also read: AU LIT Credit Card Benefits in Hindi 2024 | Lifetime Free क्रेडिट कार्ड के लिए Apply करें और तुरंत ₹1,500/- मुफ्त पाएं।

IDFC LIC Co Branded Credit Cards Benefits PDF | LIC IDFC Classic Card Benefits PDF | LIC IDFC Select Credit Card Benefits PDF

FAQs on IDFC LIC Co Branded Credit Card

What is the minimum income required to apply for an LIC IDFC Credit Card?

The minimum income criteria for LIC IDFC Credit Cards depend on the specific card you wish to apply for. However, IDFC FIRST Bank has established a general benchmark of ₹3 lakhs per annum (₹25,000 per month). This standard applies to a range of their credit cards, including LIC Select, LIC Classic, FIRST Millennia, FIRST Classic, and FIRST Select.

What documents are needed for applying for an LIC IDFC Credit Card?

The documentation necessary for the application of an LIC IDFC Credit Card may vary slightly based on your income and the specific card you select. However, below is a general compilation of the most commonly required documents:
Identity Proof:
PAN Card (mandatory): Validates income and tax details.
Aadhaar Card (mandatory): Serves as an official address and identity proof.
Voter ID card: Accepted as an alternative identity proof.
Passport: Accepted as an alternative identity proof for NRIs.
Income Proof:
For Salaried Individuals:
Latest 2 months’ salary slips.
Latest Income Tax Return (ITR) form.
For Self-employed Individuals:
Latest ITR form with audited financial statements.
Proof of business continuity (e.g., business license, shop act registration).
For Pensioners:
Pension slips for the latest 3 months.
For Others:
For students, parents’ income proof may be required.
For housewives, spouse’s income proof may be required.
Address Proof:
Recent utility bill (electricity, water, telephone): Should not be older than 3 months.
Driving license: Should reflect your current address.
Passport: Should reflect your current address.
Additional Documents:
For high-value cards: Additional financial documents may be requested, such as bank statements or fixed deposit receipts.
For self-employed individuals: Business PAN card and GST registration documents may be required.

What is the annual fee for LIC IDFC Credit Cards?

Fortunately, the majority of LIC IDFC Credit Cards come with no annual fees, enhancing their attractiveness in this aspect. This encompasses well-received options such as:
LIC Select: Annual fee not applicable.
LIC Classic: Annual fee not applicable.

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