CRED is an app that allows you to earn “CRED coins” for paying your credit card bills. These points can then be redeemed for various premium lifestyle products & services.
Apart from this primary benefit, it also has options to track your expenses, notify due dates, etc.
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 & 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 backend, 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 (like AMEX) take upto ~1 working day.
Is CRED App Safe?
Here are few things you might need to know reg. the CRED app safety,
Security: As the founder of CRED App had prior experience in handling millions of users on Freecharge, its safe to assume that the app is completely secure.
Privacy: The app has an option to allow email access for reading your statements. If you feel this is a privacy issue as you’ll have other personal emails, consider using a separate email ac for linking with Cred. Or, if you can go through your statements line by line, you may ignore the feature.
Payments: Its safe to make bill payments at-least 1 week ahead as you can’t be sure what’s coming tomorrow. Just incase if it gets delayed more than 3 biz days, get in touch with CRED. Apart from that, never worry about the money, its always safe.