Canara Bank RuPay Platinum Credit Card vs LIC Select Credit Card: Which Credit Card Wins in 2026?

Quick Verdict

• The LIC Select Credit Cardⓘ wins for everyday spend with a higher base reward rate of 0.75% versus 0.5% on the Canara Bank RuPay Platinum Credit Cardⓘ.
• For travel and lounge access, LIC Select Credit Cardⓘ also leads with 2 international lounge visits annually and a lower forex markup of 1.5%.
• Neither card charges any joining or annual fees, so both are equally cheap to hold.
• Pick the Canara Bank RuPay Platinum Credit Cardⓘ if you want a simple, no-frills card with domestic lounge access and no spend conditions. Choose the LIC Select Credit Cardⓘ if you want better rewards, international lounge access, and lower forex fees, and can meet the Rs 20,000 monthly spend gate for lounges.

Side by Side

Rewards Compared

Spending Rs 10,000 on the Canara Bank RuPay Platinum Credit Cardⓘ yields Rs 50 in rewards, reflecting its 0.5% base reward rate. This card’s rewards come in points but convert effectively to this rupee value. The card is best suited for basic rewards earners who also want some domestic lounge access without additional fees or complexities.

In contrast, the LIC Select Credit Cardⓘ earns Rs 75 on the same Rs 10,000 spend thanks to a superior 0.75% base reward rate. This makes it more rewarding for everyday purchases. The LIC card shines in travel-related categories with international lounge access and a lower forex markup, making its rewards more valuable for users with foreign currency transactions or frequent travellers.

Fees Compared

Neither card charges any joining or annual fees, so the cost to hold is zero for both. The Canara Bank RuPay Platinum Credit Cardⓘ offers lifetime free usage with no spend required to waive fees, making it straightforward and cost-effective.

The LIC Select Credit Cardⓘ is also lifetime free with no fees to waive. However, to access lounges, it enforces a Rs 20,000 monthly spend gate across both domestic and international lounges. Users must plan monthly spends accordingly to maximize lounge benefits, but there is no direct fee waiver threshold beyond this usage condition.

Which One Should You Pick

If you want a simple, no-cost card that offers some rewards and four domestic lounge visits annually without any complex spend conditions, the Canara Bank RuPay Platinum Credit Cardⓘ is your pick. It suits customers who prefer straightforward benefits and occasional domestic lounge use.

On the other hand, the LIC Select Credit Cardⓘ is ideal for users who seek higher everyday rewards, international lounge access, and lower forex charges. This card fits frequent travellers and forex spenders who can maintain Rs 20,000 monthly spend to unlock lounge access. It is also a good choice for those who want a lifetime free card with flexible travel perks.

In summary, choose the Canara Bank RuPay Platinum Credit Cardⓘ if you want basic rewards and easy lounge access with zero fuss. Opt for the LIC Select Credit Cardⓘ if you want better rewards, superior travel benefits, and can meet the lounge spend gate. Skip the Canara Bank card if you want international lounge access or better forex rates. Skip the LIC card if you do not spend enough monthly to meet its Rs 20,000 lounge gate or want a simpler card.

What to Check Before You Apply

• Confirm if the Rs 20,000 monthly lounge spend gate on the LIC Select Credit Cardⓘ fits your spending pattern.
• Understand the redemption options and value for points on both cards to ensure rewards convert well.
• Check forex markup charges carefully: 3% on Canara Bank RuPay Platinum Credit Cardⓘ versus 1.5% on LIC Select Credit Cardⓘ.
• Verify the locations and access rules for domestic and international lounges, including the gates you can access.

FAQ