LIC Gold EMV Credit Card Review

General Information

Rewards and Benefits

Fees and Charges

Summary

The LIC Gold EMV Credit Card does not require any joining fee and remains valid for a period of 5 years. For every Rs. 150 spent, one reward point is earned on this credit card. Additionally, there is a personal accident cover of up to Rs. 1 lakh, a credit shield of up to Rs. 50,000 in case of permanent disability, and purchase protection of Rs. 50,000. Moreover, an interest-free credit period of 15 to 45 days is provided. It is important to note that 1 reward point is equivalent to Rs. 0.25.

The LIC Gold EMV Credit Card is a suitable choice for individuals who focus on Fuel Shopping.

This card comes with no joining fee and no renewal fee, making it a cost-effective option.

The primary reward type associated with this card is Reward Points.

For every Rs. 150 spent, cardholders can earn 1 reward point.

The conversion rate for these points is 1 RP = Rs. 0.25.

This means that spending on this card can accumulate valuable rewards.

In terms of welcome benefits, movie dining, and travel perks, this card does not offer any specific advantages.

However, it does provide insurance coverage, making it a practical choice.

Cardholders are eligible for personal accident insurance of up to Rs. 1 lakh and a credit shield of up to Rs. 50,000 in case of permanent disability.

Additionally, the card offers purchase protection of Rs. 50,000.

When it comes to redeeming rewards, there is a nominal fee of Rs. 30 + GST.

This fee may apply when cardholders wish to convert their accumulated reward points into tangible benefits or discounts.

Furthermore, it is important to note that this card has a foreign currency markup of 3.50% on the conversion amount.

This means that international transactions may carry an additional cost.

Interest rates for this card are set at 2.75% per month, or 33% per annum.

Cardholders must keep this in mind to manage their financial obligations effectively.

On the bright side, the LIC Gold EMV Credit Card offers a fuel surcharge waiver of 2.5% at all petrol pumps in India.

This can lead to significant savings on fuel expenses, with a minimum transaction value of Rs. 10.

For cash advances, cardholders can expect a fee of 2.5% or a minimum of Rs. 250.

This feature provides the flexibility to withdraw cash in case of emergencies or urgent needs.

Overall, the LIC Gold EMV Credit Card is a suitable option for those looking to maximize rewards while focusing on fuel shopping.

With its insurance benefits and attractive fuel surcharge waiver, this card can bring value to its users.