Quick Verdict

  • For everyday spend outside fuel and groceries, the IDFC HPCL First Power Plus Credit Cardⓘ offers a higher base reward rate of 0.75% compared to the 0.5% on the LIC Classic Credit Cardⓘ.
  • For fuel, grocery, and utilities spending, the IDFC HPCL First Power Plus Credit Card clearly wins with category rates up to 6.5%, making it the better travel and fuel companion.
  • The LIC Classic Credit Card is completely free for life with no joining or annual fees, making it the cheaper card to hold.
  • Choose the LIC Classic Credit Card if you want a no-fee, no-hassle card with lounge access and low commitment. Pick the IDFC HPCL First Power Plus Credit Card if you spend heavily on fuel and groceries and can meet the Rs 1.50 lakh annual spend to waive its Rs 499 fees.

Side by Side

DetailLIC Classic Credit CardⓘIDFC HPCL First Power Plus Credit Cardⓘ
Annual feeNil (lifetime free)Rs 499
Joining feeNil (lifetime free)Rs 499
Fee waiver on spendRs 1.50 lakh annually
Reward rate0.5%0.75% base; 6.5% fuel; 5% grocery, utilities
Reward typepointspoints
Domestic lounge2 per year4 per year
International loungeNoneNone
Forex markup3.5%3.5%
Best suited forlifetime-free, first-card, loungefuel, upi-rupay, grocery, lounge

Rewards Compared

On a Rs 10,000 spend outside category bonuses, the LIC Classic Credit Cardⓘ returns Rs 50 in rewards, reflecting its 0.5% base rate. In contrast, the IDFC HPCL First Power Plus Credit Cardⓘ earns Rs 75, representing a 0.75% base rate, which is 50% higher. This makes the Power Plus card more rewarding for general purchases.

The Power Plus card shines in specific categories: fuel transactions earn a massive 6.5% return or Rs 650 on Rs 10,000 spent, while groceries and utilities spend yield 5% or Rs 500. The Classic card does not offer enhanced category rates. Therefore, if your spend is concentrated in fuel, groceries, or utilities, the Power Plus card offers significantly better rewards.

Fees Compared

The LIC Classic Credit Card has no joining or annual fees, making it a truly lifetime free card with no spending requirements to maintain its benefits. The IDFC HPCL First Power Plus Credit Card charges Rs 499 as both joining and annual fees. However, these fees can be waived if you spend Rs 1.50 lakh annually, which breaks down to Rs 12,500 per month.

To justify the Rs 499 annual fee purely from the higher base reward rate of 0.75% versus 0.5%, you would need to spend approximately Rs 66,533 annually. But considering the head-to-head data, the extra Rs 499 fee requires about Rs 1,99,600 in additional spend to cover the rate gap, implying that category spending is critical to make the Power Plus card worthwhile.

Which One Should You Pick

If you want a no-frills, no-cost credit card that still offers lounge access and basic rewards, the LIC Classic Credit Cardⓘ is ideal. It suits first-time cardholders or those who prefer a card without any fees or spending pressure. It also provides 2 complimentary domestic lounge visits annually after Rs 20,000 monthly spend on lounges.

The IDFC HPCL First Power Plus Credit Cardⓘ is best for fuel-heavy spenders and those who shop regularly for groceries and utilities. Its higher reward rates and 4 domestic lounge visits per year reward active users who can meet the Rs 1.50 lakh annual spend waiver threshold. It is also a good choice if you want a Rupay UPI-enabled card with welcome benefits on HPCL fuel transactions.

Skip the LIC Classic if you want higher rewards on fuel and groceries or plan to spend significantly on these categories. Avoid the Power Plus card if you cannot commit to the Rs 1.50 lakh annual spend for fee waiver or if you prefer a no-fee card.

What to Check Before You Apply

  • Confirm the Rs 20,000 monthly spend gate for domestic lounge access applies and plan accordingly.
  • Verify the redemption process and value of points, as the cards offer points but actual value can vary.
  • Calculate if your monthly spend meets the Rs 12,500 threshold to waive the Power Plus card’s Rs 499 annual fee.
  • Be aware that both cards have a 3.5% forex markup, which is standard but costly for foreign currency transactions.
  • Check if domestic lounges included are conveniently located for your travel habits.

FAQ

What are the joining and annual fees for these cards?+
The LIC Classic Credit Card has no joining or annual fees for life. The IDFC HPCL First Power Plus Credit Card charges Rs 499 for both joining and annual fees, but these fees can be waived with Rs 1.50 lakh annual spend.
Do these cards offer international lounge access?+
Neither the LIC Classic Credit Card nor the IDFC HPCL First Power Plus Credit Card provide international lounge access. Both cards offer limited domestic lounge visits.
How much do I earn in rewards on general spending?+
The LIC Classic Credit Card offers a 0.5% reward rate, equating to Rs 50 per Rs 10,000 spent. The Power Plus card offers 0.75% base rewards or Rs 75 per Rs 10,000 spent, with higher rates in fuel and grocery categories.
Is the forex markup the same on both cards?+
Yes, both cards apply a 3.5% forex markup on foreign currency transactions, which is the standard rate in India.
What are the welcome benefits on these cards?+
The LIC Classic Credit Card has no welcome benefits. The IDFC HPCL First Power Plus Credit Card offers a Rs 500 gift voucher on the first HPCL fuel transaction above Rs 500 and up to 5% cashback on the first EMI transaction, capped at Rs 1,000.