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Cred App Review: Get rewarded to pay credit card bills in India

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Do you own multiple credit cards?

Do you find it a hassle to log into multiple credit card accounts to pay your outstanding amount?

Do you miss paying your credit card bill then and now?

If you align with any of these thoughts above, try Cred App today.

Cred lets you pay all your credit card bills from a single interface and also earn reward points for every payment you make.

Cred is the brainchild of Kunal Shah who also happens to be the founder of Freecharge.

Just in case you have been living under the rock, Freecharge was the first digital payment wallet to hit the Indian market and was acquired by Snapdeal in the year 2015.

That means Cred comes from a person who is quite reputed and has already proved his mettle in the Indian financial sector.

Download CRED for Free

Cred App Review: The key benefits

#1. Credit card bill payment with ease

By using the Cred App (available both on PlayStore & AppStore), you can link your credit card once and pay the outstanding bills from within the app, without keying in the details ever again.Pay credit card bill via Cred

That makes managing your credit cards pretty easy.

Otherwise, you need to login to separate card accounts every month just to pay the bill.

And when I say credit card, I mean any damn credit card.

Consider it as a payment hub for all cards, be it VISA, Master Card, American Express or Diners.

You can pay the credit card bill using net banking, debit card or UPI.


#2. Earn & redeem points, including cash back

For every successful credit card bill payment via the Cred App, you earn equal Cred reward points.

For example, if you pay a credit card bill of INR. 10,000 via the app, you earn 10,000 Cred coins.

These coins can then be redeemed for exciting rewards from participating brands.

These include discount vouchers, free subscriptions as well as cash vouchers.

Rewards on Cred app
Image Source: Cred App


#3. Staying disciplined

When you set up your Cred account, you can give the app permission to read your emails and fetch your credit card statements.

Using this feature, Cred notifies you with the current outstanding balance and the last payment date.

This feature is very useful for those who miss timely payments just because of their lethargy.


How to get access to Cred?

Access to Cred is still not open for all.

How cred app works?
Image Source: Cred App

You need to apply to gain the access and key in the basic details, including your PAN number and the phone number.

You might be put in a queue if your credit score is below par.

My observation is that a credit score of 750 and above will get you the access, though there is no documentary proof to it on the Cred’s website.

Once your access is approved, Cred deposits a small amount (INR. 1) to your credit card to authenticate it. This marks the completion of the registration process.

Cred achieves 2 purposes through this restricted access:

  • They have built exclusivity for their product by creating a feeling of scarcity.
  • They have created a community of people who have a good credit history.

As the famous saying goes, there are no free lunches in this world.

I am sure the next step in their business plan will be to market a gamut of financial products and lending services to this audience which carries a good credit history.

That also means better offers for the customers.


Type of rewards on the Cred App

#1. Earn cash back with #KilltheBill

With every credit card payment above a specified amount, you get an option to participate in a lucky draw and earn some cash back.

This cashback is based on the payment you have made.

The maximum single payment I did via Cred is of Rs. 10,000 and I have earned a maximum cashback of Rs. 24.

While this amount is minuscule, it’s still free cash, that too for paying credit card bill (which I am anyways going to pay).


#2. Redeem from existing offers

Cred offers a host of exciting discount vouchers from a multitude of brands.

Some of the top brands include:-

  • Uber Eats
  • Swiggy
  • Bombay Shirt Company
  • Tailormen
  • The Moms Company
  • Jaypore
  • …and so on

Few points to note:-

  • There are 3 types of rewards: free subscription (like that of free delivery with Swiggy), percentage off (like that on every meal with Uber) or gift cards (like 750 off on Jaypore merchandise).
  • In case of money vouchers, the amount is always less than the merchandise having the minimum MRP. You would end up spending something if you want to avail the offer, though with a steep discount.
  • Most of the brands are exclusive. You may find it hard to select the reward at times. However, new brands keep on adding and the options will improve in the future.


Key concerns (and how Cred offers a resolution)

#1. Data security

Cred has a well-documented data security policy.

They appear to follow a number of the industry standard data security procedures like cloud infra security, network segmentation, encryption of data at rest & in transit, role-based access etc.

In addition, they have mentioned that they are in the process of getting themselves ISO 27001 and UPI compliant, as per the guidelines of NPCI.

All in all, it seems your data is in safe hands.


#2. Card Information security

Cred is in the process of getting themselves PCI DSS compliant, which is the defacto information security standard for organizations that handle credit card information.

Moreover, you just provide the card number while linking your card.

Cred never asks you for the card expiry date and the CVV number.

Without these details, your card can’t be misused.


#3. Email Privacy

While Cred asks for a permission to read your emails, they clearly state that they will scan only the emails which have the credit card statement.

Since I don’t have anything confidential in my linked email, I have enabled this functionality.

However, I think this feature is still buggy, though I am not sure how.

See the screenshot where I have paid my Amex bill in full but Cred still shows that I have an outstanding amount due.

That probably because I didn’t pay the bill in full but I split it into two.


Closing remarks

Cred is one mobile app which deserves space on your mobile phone.

When you are anyways going to pay your credit card bills, why not earn some cash back and rewards in return.

I love Cred for its premium UI, the simplicity of use and the cashback it offers in the form of #KillTheBill.

Try the app once and see it for yourself. Click here to install.

Join my exclusive Facebook group and share your Cred story there.

Cred App Review
  • Editor Rating
  • Rated 5 stars
  • 100%

  • Cred App Review
  • Reviewed by:
  • Published on:
  • Last modified: April 20, 2019

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Tushar Jain

Tushar Jain

Tushar Jain is a personal finance enthusiast who loves to talk about money, savings, investments and spending. He blogs about financial wisdom and income growth habits at this blog Contact him to say Hi.

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