Quick Verdict
- For everyday spending, the LIC Classic Credit Cardⓘ offers a higher base reward rate, making it more rewarding on general purchases.
- The Axis Bank My Zone Credit Cardⓘ excels in dining and online categories with significantly higher category reward rates.
- The LIC Classic Credit Card is cheaper to hold with no joining or annual fees, while the Axis Bank My Zone charges both.
- Choose the LIC Classic for a cost-effective, straightforward rewards program and occasional lounge access; pick the Axis Bank My Zone if you spend a lot on dining and online shopping and value the welcome benefit and more domestic lounge visits.
Side by Side
| Detail | Axis Bank My Zone Credit Cardⓘ | LIC Classic Credit Cardⓘ |
|---|---|---|
| Annual fee | Rs 500 | Nil (lifetime free) |
| Joining fee | Rs 500 | Nil (lifetime free) |
| Fee waiver on spend | Not recorded | Not recorded |
| Reward rate | 0.4% base; 15% dining; 5% online | 0.5% base |
| Reward type | Points | Points |
| Domestic lounge | 4 per year (Rs 50,000 quarterly spend gate) | 2 per year (Rs 20,000 monthly spend gate) |
| International lounge | None | None |
| Forex markup | 3.5% | 3.5% |
| Best suited for | Dining, first-card, cashback, shopping | Lifetime-free, first-card, lounge |
Rewards Compared
Spending Rs 10,000 on general purchases with the Axis Bank My Zone Credit Cardⓘ yields Rs 40 back at the base reward rate of 0.4%, whereas the LIC Classic Credit Cardⓘ returns Rs 50 at its higher base rate of 0.5%. This makes the LIC Classic slightly better for everyday transactions that do not fall under any special category.
However, when spending is focused on dining and online shopping, the Axis Bank My Zone card stands out. For Rs 10,000 spent on dining, it offers Rs 1,500 in rewards, which is a substantial jump compared to the flat rates on the LIC Classic. Similarly, its 5% reward on online spending translates to Rs 500 per Rs 10,000 spent, providing targeted benefits for specific categories that the LIC Classic does not match.
Fees Compared
The LIC Classic Credit Card is lifetime free, with no joining or annual fees, making it an attractive option for those who want to avoid charges altogether. In contrast, the Axis Bank My Zone Credit Card charges Rs 500 as a joining fee and Rs 500 annually. The Axis Bank card requires about Rs 1,25,000 in annual spending to cover the cost of its fees solely through base rewards, which is a relatively high threshold. Neither card specifies a fee waiver based on spend.
Which One Should You Pick
The Axis Bank My Zone Credit Cardⓘ suits users who prioritize dining and online shopping rewards and are willing to pay an annual fee for enhanced category benefits and a welcome subscription. It also suits those who want more domestic lounge visits, provided they meet the quarterly Rs 50,000 spend gate.
The LIC Classic Credit Cardⓘ is ideal for beginners or anyone looking for a straightforward, no-fee card with a decent base reward rate and some domestic lounge access. It’s better for users who want a card with no cost and moderate rewards without focusing on specific spending categories.
If you want maximum general rewards without fees, skip the Axis Bank My Zone. If you spend heavily on dining and online shopping and value the welcome benefit, skip the LIC Classic.
What to Check Before You Apply
- Confirm how the quarterly or monthly spend gates for lounge access align with your typical spending patterns.
- Check if there are caps or limits on the high category rewards for dining and online spending on the Axis Bank My Zone.
- Understand the redemption options and point expiry rules for both cards, especially since they use points rather than direct cashback.
- The forex markup is 3.5% on both cards, which can get costly on international spends; consider this if you travel frequently.
- Verify the availability and locations of domestic lounges accessible under each card, as this might affect your usage.
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