LIC Classic Credit Card Review 2026 — Fees, Rewards & Eligibility
By Credit Card Hunt Editorial Team
Issuer: IDFC FIRST Bank
Network: Visa | Tier: Entry
The LIC Classic Credit Card is an Entry Visa credit card issued by IDFC FIRST Bank, best suited for LIC customers and policyholders. Co-branded LIC card rewarding insurance premium payments along with travel and lifestyle benefits. It carries a joining fee of Nil, with an interest rate of 8.5% – 46.2% p.a. (0.71% – 3.85% per month); Overdue: 47.88% p.a.. Key benefits include 10X rewards on LIC premiums, Lounge access, Roadside assistance, and Lifetime free. Reward earnings work as follows: Rewards on insurance spends. New cardholders get a welcome benefit of Insurance-related benefits. On fees — Lounge access: Limited lounge access; Foreign transaction markup: 3.50% on foreign currency / DCC transactions; Fuel surcharge: 1% fuel surcharge waiver on transactions ₹200 – ₹5,000 per statement cycle. Applicants typically need LIC-focused eligibility to qualify. It falls under the Insurance category on CreditCardHunt.
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Why Choose the LIC Classic Credit Card?
The LIC Classic Credit Card is a Entry-tier Visa credit card issued by IDFC FIRST Bank, rated 4.2/5 by the Credit Card Hunt editorial team. It is best suited for LIC customers and policyholders. With a reward rate of Rewards on insurance spends and an annual fee of Nil, it ranks among the popular Insurance cards in India in 2026.
New cardholders are welcomed with Insurance-related benefits, which adds immediate value in the first year.
LIC Classic Credit Card Fees & Charges
| Annual Fee | Nil |
|---|---|
| Joining Fee | Nil |
| Interest Rate | 8.5% – 46.2% p.a. (0.71% – 3.85% per month); Overdue: 47.88% p.a. |
| Foreign Markup | 3.50% on foreign currency / DCC transactions |
| Fuel Surcharge Waiver | 1% fuel surcharge waiver on transactions ₹200 – ₹5,000 per statement cycle |
LIC Classic Credit Card Rewards & Benefits
| Reward Rate | Rewards on insurance spends |
|---|---|
| Welcome Bonus | Insurance-related benefits |
| Lounge Access | Limited lounge access |
| Best For | LIC customers and policyholders |
Key Highlights of the LIC Classic Credit Card
- 10X rewards on LIC premiums
- Lounge access
- Roadside assistance
- Lifetime free
LIC Classic Credit Card Eligibility Criteria
- Age 18+
- Good credit score
- Meets bank criteria
Minimum Income Required: LIC-focused eligibility
Advantages of the LIC Classic Credit Card
- Zero joining and annual fee; Co-branded LIC benefits.
Drawbacks of the LIC Classic Credit Card
- High foreign markup (3.50%); Image personalisation not available; Interest rate up to 47.88% p.a.
LIC Classic Credit Card — Frequently Asked Questions
What is the annual fee of the LIC Classic Credit Card?
The LIC Classic Credit Card has an annual fee of Nil and a joining fee of Nil. New cardholders receive Insurance-related benefits as a welcome benefit, which helps offset the joining cost.
Does the LIC Classic Credit Card offer airport lounge access?
Yes — the LIC Classic Credit Card offers Limited lounge access.
Who is eligible for the LIC Classic Credit Card?
The minimum income requirement is LIC-focused eligibility. Banks typically also look for a CIBIL score of 700 or above and a clean repayment history.
What is the reward rate of the LIC Classic Credit Card?
The LIC Classic Credit Card earns Rewards on insurance spends. It is best suited for LIC customers and policyholders.
Official sources for this review
Fees, rules and limits described above are governed by the primary sources below.
- RBI Master Direction — Credit Card and Debit Card Issuance and Conduct Directions, 2022 — Reserve Bank of India
- Department of Financial Services — Banking Division — Ministry of Finance, Government of India
- Consumer Financial Decision-Making research — Wharton School, University of Pennsylvania
- Tax Collected at Source on Liberalised Remittance Scheme transactions — Income Tax Department, Government of India
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Expert Rating: 4.2/5 (Credit Card Hunt editorial score)