Do you know about LIC Credit Cards?
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LIC cards come in 4 different variants, all are LTF from Axis bank. The topmost one, the Signature variant has 2% reward rate on LIC premium payments and 1% reward on all other categories. It also has 1 lounge visit per quarter through visa platform. All others offer a very less reward rate.
I have spoken to the area manager of LIC cards, he said that to qualify for Signature card one should be paying 50k premium for last 3 years or 75k net salary or around 11 lakh ITR. But he also said that one can upgrade to Signature variant after the present limit of card reaches 50k. So I think even if one is not eligible for Signature variant, he can easily upgrade. So one can easily an Axis LTF card and a decent reward rate if you don’t have any other options for premium payment.
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All life insurance policies except Pure Term Insurance are scams. Any card that is liked to paying high amount of premiums is also a scam.
Go for signature variant only, where 1 reward points = Rs. 1. I have it only for the sake of Axis bank offers, I recommend you not paying LIC premiums any longer because they are useless.
Incase you have that axis card just for axis offers, then I recommend to change it to Axis ACE card variant which gives 2% cb for all spends.
Yes, it is a good option if one does not have ICICI Amazon pay credit card.