Namaskar, Today I’m going to review an app called Cred. Which I’m using for last few months.
Cred created by Kunal Shah the founder of FreeCharge. Though I have not used FreeCharge enough, I use to use CRED app regularly and I love the app.
We Indians are concerned of money and don’t want to lose it. So whenever it comes about money matter we don’t believe anyone easily. I’m not the exception. So I started using the app by paying little amount. But CRED gain my trust on it easily. Now I can share my review about it.
Credit Card Bill Payment Offers
What is CRED?
CRED is an app, which gives you rewards on timely payments of your credit card payment. The app is exclusively for those people who have a good credit score (checked automatically from Experian or CRIF) and have some history of credit card payment. This is checked when you register for the app for the first time.
How it works?
It’s very simple and the entire process hardly takes less than a minute.
- Install the app – IOS / Android (open the link on mobile)
- Signup with your mobile number(linked with credit card) & verify with OTP.
- Boom!! All your cards now gets displayed. CRED has done the integration with Credit Bureaus like Experian to make this is possible.
- Now you have to verify your card to add them to the app by filling the masked numbers of the card.
- CRED verifies your card instantly and that’s it.
- You shall now pay your bills and get reward points equal to the bill amount paid.
In the back-end, while you’re adding a new card, CRED verifies your credit card by depositing Rs.1 through IMPS/UPI. This reflects instantly on some cards while other cards take up to 1 working day.
There are two things you can earn on CRED App
Coins – You will earn coins equivalent to your credit card bill amount every time you pay the credit card bill. So if you pay the credit card bill of Rs 40,000, you will get 40,000 coins. The coins will keep accumulating month after month. So you can keep collecting coins and later redeem it in any manner. There are some offers and benefits which requires very large amount of coins, so its beneficial to collect lots of coins. I currently have around 1,50,000+ coins in my own account.
CRED Coupons, Offers & Promo Codes
Gems – You can also earn “gems” in the CRED app. These are different kind of currency which are required by some offers. Right now one earns 10 gems on each referral. So if your referral signs up on CRED app, then you will earn 10 gems. If you like FinDisha, please help us earn some coins by registering on the CRED app using this link.
Is CRED App Safe?
I am sure that you must be having this question about the safety of this app because you are putting your credit card details and authorizing the app with all details.
- CRED app never asks you to provide the date of expiry or CVV on your credit cards, hence you are not giving any critical information to this app.
- Firstly I told you about trust. The main part of safety.
5 benefits you get in CRED app
Coming to the main point of getting rewards and benefits from the CRED app, below are the following things
- Cashbacks on paying bills
- Discounts
- Free gifts and offers
- Spending Analysis
- Credit Score tracking
Let’s look at each of them
Cashback on paying bills
You may earn cashback (all called #killthebill) on every transaction. At the time of payment of more than Rs. 1000, you may be notified that you have won a scratch card and you might earn some amount which will be credited back to your credit card.
Discount Offers
Now, this the major part of the benefits. CRED app has associated with various brands and it offers you some discount (cash discount or percentage discount) when spending a particular amount.
Free Gifts and benefits
There are some rewards which are truly free for you by burning some coins or gems. You don’t have to pay anything to get the benefits. Theses I personally think are the real benefits in a way, because you are not spending anything out of pocket, but just availing an offer.
Spending Analysis
One small benefit of the CRED app is that you get some insights on your spending pattern and history of your credit card payments at one single place. This is good for those who have multiple credit cards and want some visibility on how their spending is happening.
Credit Score Tracking
CRED app will keep showing your credit score from time to time, so this will help you to stay motivated to make timely credit card payments and you can also keep a track of how your credit score is moving over time. Right now CRED has done tie up with Experian and CRIF and pulls your credit score from both the places.
How to make payment in Cred app?
Paying credit card bills via CRED app is very easy, just click on pay now, enter amount and click proceed. You can make payment via debit card/net banking (NEFT/IMPS) or UPI. It may take some time to reflect on the money credited to your credit card account.
On Completion of Bill Payment of your Credit Card, you will be rewarded with CRED Coins and Kill Bill Scratch Card which you will have to redeem.
Bottomline
CRED is the best app available for credit card bill payment.