Canara Bank Visa Gold Credit Card vs LIC Select Credit Card: Which Credit Card Wins in 2026?

Quick Verdict

• The LIC Select Credit Cardⓘ wins for everyday spending with a base reward rate of 0.75% versus 0.5% on the Canara Bank Visa Gold Credit Cardⓘ.
• For travel and lounge access, the LIC Select Credit Cardⓘ is clearly superior, offering complimentary domestic and international lounge visits.
• Both cards have no joining or annual fees, making them equally cheap to hold.
• Choose the Canara Bank Visa Gold Credit Cardⓘ if you want a straightforward, no-frills card with zero fees and are not focused on travel perks; pick the LIC Select Credit Cardⓘ if you value higher rewards, travel benefits, and lower forex costs.

Side by Side

Rewards Compared

On spending Rs 10,000, the Canara Bank Visa Gold Credit Cardⓘ returns Rs 50 in rewards, reflecting its base reward rate of 0.5%. This makes it a modest option for those primarily seeking some rewards without additional benefits. In contrast, the LIC Select Credit Cardⓘ delivers Rs 75 in rewards on the same spend, thanks to a higher 0.75% base reward rate. This 50% higher effective reward rate means the LIC Select Credit Cardⓘ offers better value for everyday spending.

Neither card specifies category bonus rates, so the comparison remains at the base level. The LIC Select Credit Cardⓘ also supports travel and lounge benefits, enhancing its appeal for users who spend in related categories, although these come with monthly spend gates for lounge access.

Fees Compared

Both the Canara Bank Visa Gold Credit Cardⓘ and the LIC Select Credit Cardⓘ charge no joining or annual fees, making them lifetime free to hold. The LIC Select Credit Cardⓘ requires a monthly spend of Rs 20,000 to unlock monthly lounge access, a condition absent for the Canara Bank Visa Gold Credit Cardⓘ, which does not offer lounge access at all. There is no fee waiver threshold to consider since fees are nil, so there is no break-even calculation needed.

Which One Should You Pick

If you want a simple, cost-free card that earns some rewards without fuss, the Canara Bank Visa Gold Credit Cardⓘ suits you well. It is ideal for those who avoid travel and forex transactions and prefer a straightforward credit card experience with no hidden conditions.

On the other hand, the LIC Select Credit Cardⓘ is best for spenders who value better rewards, travel perks, and lower forex markup. Its complimentary lounge access domestically and internationally, combined with a competitive reward rate and 1.5% forex markup, makes it an excellent choice for frequent travelers and forex spenders. However, you must meet a Rs 20,000 monthly spend gate to enjoy lounge benefits.

In conclusion, pick the LIC Select Credit Cardⓘ if you want a richer reward structure and travel privileges. Skip it if you prefer no conditions and are not interested in lounges or forex savings. Conversely, skip the Canara Bank Visa Gold Credit Cardⓘ if you want better rewards and travel benefits, as it lacks these features.

What to Check Before You Apply

• Check if the lounge access on LIC Select Credit Cardⓘ is restricted to specific airports or terminals.
• Confirm the redemption value and ease of converting points to rewards, as neither card details redemption caps.
• Understand the fee waiver and lounge access spend gate of Rs 20,000 monthly on the LIC Select Credit Cardⓘ.
• Be aware of the 3% forex markup on Canara Bank Visa Gold Credit Cardⓘ versus 1.5% on LIC Select Credit Cardⓘ, which can impact overseas spending costs.

FAQ