CRED App Review — Earn Rewards for Paying Credit Card Bills

Kunal Shah, founder of Freecharge — acquired by Snapdeal in 2015 for $400 million — is back with a new venture in the credit card space. His latest startup, CRED, is described by Shah as “a platform to celebrate and reward the most creditworthy people of India.”

Operating from Bengaluru with a team of around 60 people, CRED has raised roughly $30 million from investors including Sequoia Capital and Morningside. Below is a concise, user-friendly overview of what CRED offers and how it works.

What is CRED?

CRED is a mobile app that rewards users with “CRED coins” when they pay their credit card bills through the platform. These coins can be redeemed for curated lifestyle products, services and vouchers from partner merchants.

Besides rewards, CRED offers credit score access, expense tracking and timely payment reminders. The service currently retrieves credit scores from Experian/Crif, with plans to support additional bureaus in the future.

How it works?

Onboarding is quick and straightforward:

1. Install the CRED app on your iOS or Android device.
2. Sign up with your mobile number and verify via OTP.
3. The app displays your registered credit cards by integrating with credit bureaus.
4. Verify each card in-app by entering the masked digits shown on the card.
5. CRED completes instant verification and you can begin making payments.
6. Each eligible bill payment earns you CRED coins — typically equivalent to the bill amount, subject to program terms.

During card addition, CRED verifies cards by depositing Rs.1 via IMPS/UPI. This shows up instantly for most banks, while some issuers (for example AMEX) may take up to one working day.

Is CRED App Safe?

Here are the key safety and privacy points to consider:

Security: The team behind CRED has experience managing large user bases, and the app uses industry-standard practices for secure payments and data handling.

Privacy: CRED offers an optional feature to read email statements to simplify card linking and billing. If you prefer not to grant email access, use a dedicated email account for statements or manually verify your bills.

Payments: Payments processed through CRED generally reach the card issuer promptly. To be safe, make payments a few days ahead of the due date. If a payment is delayed beyond a few business days, contact CRED support to resolve the issue.

My Experience

Getting Started

The app’s UI/UX is polished and intuitive. After installing the app and verifying my mobile number, I received 822 points reflecting my Experian credit score. Adding my card and making the first payment took less than two minutes.

From my experience, payment processing times varied by issuer:

• Instant: HDFC, ICICI, Axis, SBI (via IMPS/UPI)
• 2 working days: American Express
• 1 working day: Standard Chartered, IndusInd
• Payments above Rs. 1 lakh are routed via NEFT
• If IMPS/UPI rails are unavailable, transactions are processed via NEFT
• Tip: Clear dues at least three days before the due date for added safety

Points Redemption

• Point value: Dynamic — depends on merchant offers

The value of CRED coins varies with merchant promotions. Premium partners often provide attractive redemptions to reach a targeted audience of high-credit-score customers.

I tested various redemption options, including a “kill the bill” style game which gave me around Rs.170. I also redeemed 5,000 points for a Rs.1,000 voucher from a grooming brand, effectively giving a 20% value. Some vouchers require a small additional payment for taxes or handling.

Redemption availability varies: some vouchers are one-time use while others can be redeemed multiple times. Current merchant partners include ixigo, BookMyShow, Cult.fit, Bombay Shaving Company, Bombay Shirt Company, Bodycraft and Four Fountains Spa among others.

Top 10 CRED Rewards

CRED regularly features high-value redemptions and limited-time offers. The app highlights curated reward options each month, and some redemptions deliver excellent value relative to the points spent.

Why CRED is a must have App?

Key reasons to try CRED:

1. Earn rewards for paying credit card bills through the platform.
2. Additional reward opportunities when paying with a debit card on select offers.
3. Access to a premium community that unlocks exclusive products, services and limited redemptions.

Transaction tracking, payment reminders and a clean interface add to the appeal. CRED began as a beta product but delivers most core features already.

Bottomline

While other apps enable credit card bill payments, few combine a premium user experience with a meaningful rewards ecosystem. CRED addresses this gap by rewarding timely payers, offering curated redemptions and creating a community for creditworthy users.

• App rating (author): 5/5

Have you used CRED? Share your experience in the comments if you have tried the app.