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LIC & IDFC Jointly Launches A New Credit Card- Know If It Is Worth Applying





In the bustling world of credit cards, finding one that aligns with your financial goals and aspirations can feel like a treasure hunt. But what if that treasure promised not only exciting rewards on everyday spends but also a helping hand in securing your future? Enter the LIC IDFC Select Credit Card, a unique offering that blends the stability of LIC with the dynamism of IDFC FIRST Bank. Let's delve into its depths and see if it unlocks the key to supersized rewards and a brighter tomorrow.


Supersized Rewards, Supersized Savings:


Right off the bat, the Select Card hits you with its "supersized reward" program. Forget tiny sprinkles, this card showers you with a whopping 10X reward points on your LIC premium payments. Imagine, every swipe towards securing your future automatically fuels your rewards bucket, adding exciting discounts and benefits to your present.

But the generosity doesn't stop there. This card rewards your daily heroes – the essential spends like groceries, utilities, railways, education, and government payments – with 5X points. And for everything else, you still earn a respectable 3X points, ensuring every swipe translates into some form of reward.


More Than Just Points:


The Select Card doesn't just shower you with points; it elevates your lifestyle with exclusive perks and privileges. Picture yourself whisking through airport security and sinking into the comfort of airport lounges, thanks to your complimentary lounge access. Need some roadside assistance during your adventures? The Select Card has your back. And for added peace of mind, it equips you with travel insurance cover of up to ₹1 crore and personal accident insurance cover of up to ₹5 lakh.


Accessibility and Affordability:


Unlike some premium cards, the Select Card doesn't lock you out with hefty joining fees or annual charges. It welcomes you with a warm "zero" in both categories, making it an accessible option for discerning spenders. However, remember that a minimum annual income of ₹6 lakhs is required to qualify for this supersized experience.


Redemption: Where Your Points Pay Off:


The points you earn don't get trapped in a digital labyrinth. The Select Card offers a variety of redemption options, allowing you to convert your points into statement credits, gift vouchers, exciting travel bookings, or even merchandise purchases. Choose what suits your fancy and watch your points work their magic.


Beyond the Card, a World of Responsibility:


Remember, even the most rewarding card is a powerful tool that needs responsible handling. Always track your spending, utilize your credit wisely, and pay your bills on time to prevent falling into debt and maximize the benefits of your Select Card.


Is the LIC IDFC Select Card Right for You?


If you're an LIC policyholder who values rewarding your daily spends while securing your future, the Select Card could be your perfect financial companion. The supersized rewards on LIC premiums, along with the card's perks and privileges, make it a compelling option. However, compare it with other cards offering similar benefits to ensure it aligns with your specific needs and spending patterns.


Remember, financial literacy is key! Conduct your own research, ask questions, and make informed decisions to unlock the full potential of the LIC IDFC Select Card and live life supersized, both rewards-wise and future-wise.


FAQs


1. Supersized Rewards: How Do I Earn 10X Points on LIC Premiums?

Simply make any payment towards your LIC insurance premium using your Select Card and watch your points pile up at 10 times the usual rate. This applies to all LIC policies, making it a fantastic way to save on future financial security while racking up valuable rewards.

2. Beyond Insurance: What Rewards Do I Get on Everyday Spends?

The Select Card doesn't discriminate against your favorite stores. You earn a generous 5X points on essential categories like groceries, utilities, railways, education, and government payments. For everything else, your swipes still translate into a respectable 3X points, ensuring every purchase contributes to your reward kitty.

3. Perks and Privileges: Lounges, Assistance, and More!

This card elevates your travel experience with complimentary access to both airport and railway lounges. Feel the VIP vibe as you skip queues and relax in comfort before your journey. Need a helping hand on the road? The Select Card includes complimentary roadside assistance to get you back on track in no time.

4. Insurance Cover: Security Beyond Points and Perks

The Select Card doesn't just reward your present; it prioritizes your future. Enjoy peace of mind with travel insurance cover of up to ₹1 crore, protecting you against unforeseen travel mishaps. Additionally, you receive personal accident insurance cover of up to ₹5 lakh for added security.

5. Accessibility and Affordability: Is the Select Card Within Reach?

Unlike some premium cards, the Select Card welcomes you with a friendly "zero" for both joining and annual fees. This makes it accessible to a wider range of discerning spenders. However, keep in mind you need a minimum annual income of ₹6 lakhs to qualify.

6. Redemption Nirvana: What Can I Do with My Points?

Your points become currency in a world of exciting possibilities. Redeem them for statement credits to offset your card spends, indulge in a shopping spree with gift vouchers, book your dream vacation with travel partners, or even treat yourself to exciting merchandise. The choice is yours!

7. Hidden Fees: Are There Any Nasties Lurking in the Fine Print?

Always be an informed cardholder! Check for additional fees like late payment charges or foreign transaction fees before applying. These can eat into your rewards if not monitored closely.

8. Customer Service: Can I Count on Support When I Need It?

IDFC FIRST Bank has a good reputation for customer service. Check online reviews and inquire about their dedicated support channels to ensure you have access to prompt and helpful assistance if needed.

9. Minimum Spending: Do I Need to Spend Big to Earn Big?

Yes, the Select Card has minimum spending requirements to earn reward points. Check the specific requirements to ensure you meet the threshold and maximize your point accumulation.

10. Comparing Apples and Oranges: How Does the Select Card Stack Up?

Research other cards offering similar benefits like travel insurance, lounge access, and rewards on essential categories. Compare fees, point earning rates, and redemption options to make an informed decision based on your spending patterns and priorities.



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