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Side-by-Side Comparison|Updated March 2026

Axis Bank LIC Platinum Credit Card vs ICICI Bank Platinum Chip Credit Card

Detailed comparison of fees, rewards, benefits, and value to help you choose the right credit card for your spending pattern.

Axis Bank

Axis Bank LIC Platinum Credit Card

7/10
Annual FeeFree
Base Rewards0.66%
NetworkVisa
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ICICI Bank

ICICI Bank Platinum Chip Credit Card

6.5/10
Annual FeeFree
Base Rewards0.125%
NetworkVisa
View Full Details

Feature-by-Feature Comparison

FeatureAxis Bank LIC Platinum Credit CardICICI Bank Platinum Chip Credit Card
Annual FeeFreeFree
Joining FeeFreeFree
Fee Waiver SpendN/AN/A
Base Reward Rate0.66%0.125%
Reward CurrencyPlusPointsICICI Bank Reward Points
NetworkVisaVisa
Editor Rating7/106.5/10
Forex Markup3.5%3.5%

Accelerated Rewards

Axis Bank LIC Platinum Credit Card

  • 0% on LIC Premium Payments

ICICI Bank Platinum Chip Credit Card

No accelerated rewards listed

Pros & Cons

Axis Bank LIC Platinum Credit Card

Pros

  • Lifetime free entry-level card
  • 2X rewards on LIC premium payments
  • 1% fuel surcharge waiver
  • Lost card liability insurance cover

Cons

  • No airport lounge access
  • Lower reward point value (₹0.66) compared to Signature variant
  • Limited redemption options

ICICI Bank Platinum Chip Credit Card

Pros

  • Lifetime free card with no joining or annual fees ever
  • Earn 2 reward points for every ₹100 spent on retail purchases
  • 1% fuel surcharge waiver at HPCL pumps for transactions up to ₹4,000
  • Minimum 15% savings on dining bills at 2,500+ partner restaurants via Culinary Treats

Cons

  • No complimentary airport lounge access
  • Low reward rate of 0.5% on general retail spends
  • Reward points on utilities and insurance are capped at 1 point per ₹100

Our Verdict

Axis Bank LIC Platinum Credit Card edges ahead overall with a stronger combination of rewards and value. However, ICICI Bank Platinum Chip Credit Card could be the better pick if its specific category strengths match your spending habits.

Choose Axis Bank LIC Platinum Credit Card if

A simple, no-cost card to earn rewards on LIC premiums.

Choose ICICI Bank Platinum Chip Credit Card if

Ideal for beginners looking to build a credit history without the burden of annual fees.

Frequently Asked Questions

Which is better: Axis Bank LIC Platinum Credit Card or ICICI Bank Platinum Chip Credit Card?
Axis Bank LIC Platinum Credit Card edges ahead overall with a stronger combination of rewards and value. However, ICICI Bank Platinum Chip Credit Card could be the better pick if its specific category strengths match your spending habits.
What is the annual fee difference between Axis Bank LIC Platinum Credit Card and ICICI Bank Platinum Chip Credit Card?
Axis Bank LIC Platinum Credit Card has no annual fee, while ICICI Bank Platinum Chip Credit Card has no annual fee.
Which card has better rewards: Axis Bank LIC Platinum Credit Card or ICICI Bank Platinum Chip Credit Card?
Axis Bank LIC Platinum Credit Card offers a base reward rate of 0.66% with accelerated rewards on LIC Premium Payments. ICICI Bank Platinum Chip Credit Card offers 0.125% base rewards. The better choice depends on your primary spending categories.
Can I have both Axis Bank LIC Platinum Credit Card and ICICI Bank Platinum Chip Credit Card?
Yes, many users hold multiple credit cards to maximize rewards across different spending categories. Axis Bank LIC Platinum Credit Card and ICICI Bank Platinum Chip Credit Card can complement each other if they cover different reward categories.
Which card is better for beginners: Axis Bank LIC Platinum Credit Card or ICICI Bank Platinum Chip Credit Card?
For beginners, Axis Bank LIC Platinum Credit Card may be more approachable with no annual fee. However, evaluate based on your expected spending pattern rather than fee alone.

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