TOP 10 Bads & Goods of CRED (Negatives & Positives)

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Great for the Good: Here’s everything you can do with CRED

When Jim Sarbh told you that the rewards on CRED are as unbelievable as Rahul Dravid’s anger, he wasn’t exaggerating. CRED, the members-only credit card bill payment platform that rewards its members for paying their credit card bills on time, can make paying your bills an enjoyable activity. By partnering with brands that you love, CRED brings you the feeling of unlimited choice at the end of every credit card payment cycle. When you are doing good by paying bills on time, why not let CRED spoil you with rewards for it?

How does it work?
CRED is only for the most creditworthy, i.e., only people with a credit score higher than 750 can join the community. For those who do not have this minimum score, you will be added to the waitlist and given advice on how to improve your credit score. If you have a credit score above 750, you can become a CRED member by downloading the app on your iOS or Android phone. Not sure about your credit score? CRED will check it for you and let you know instantly. CRED saves the credit card details when you register on the platform. Every time you add a credit card, it will deposit INR 1 to the respective card to validate it.

Over 5.9 million people have become CRED members in under two years and these are the features that are largely contributing to its popularity:

CRED RentPay allows you to pay your monthly rent with their credit cards, directly from the CRED app. With the option of paying rent on credit, you can avail benefits such as free cash flow, interest-free credit period, reward points on credit card loyalty programs, and a CRED coin for every rupee of the bill that they pay back on CRED. You can also use your CRED coins to get cashbacks on the rent paid each month.

CRED Cash is the fastest, most seamless and fully digital way to get credit, without the tedious application and verification processes typically associated with loans and at an interest rate at one-third of typical credit card interest charges. You can be progressively pre-approved for an active credit line of up to INR 5 Lac with no hassles like long, complicated forms, phone calls or physical visits.

CRED Store allows CRED members to shop through their in-app e-commerce offering that is home to a selection of handpicked, curated products as well as travel experiences of luxurious destinations across India and the world at member-exclusive prices. The app has over 1,800+ brands, with 500+ active at any point, including popular urban, premium and DTC brands such as Starbucks, Boat, Noise, TMC, Mamaearth, Lifelong, Beardo, Ustraa, Bombay Trooper, Neemans, Jimmy's ****tails, Elementary, Whole Truth, Sleepycat and many more.

CRED Travel Store has added more exclusive destinations for you to ‘buy now and travel later’, like luxurious stays at Ayatana Coorg, The Serai, Hard Rock Goa, Centara Ras Fushi Maldives and Kempinski Seychelles. The ‘buy now, and travel later’ option enables future travels for members when they can venture out safely. CRED has also associated with Mastercard to provide members with an exclusive range of rewards and premium packages across hotels such as Taj, ITC and Lalit.

CRED Pay is a new payment experience for members on select merchant platforms. It offers you a safe and delightful one-click checkout experience using credit cards already saved on CRED. By using CRED Coins during checkout, members can avail discounts on an array of products from over 300 beloved brands like Dineout, Ixigo, The Man Company, Zoomin, Neemans and Bombay Shaving Co., and others.

In addition, CRED has sponsored this edition of the Vivo IPL 2021, where you stand a chance to win a 100% cash-back and get featured in a live match telecast when you pay your credit card bills on CRED during the Powerplay overs of any Vivo IPL 2021 match. Not just that, CRED coins earned by paying your credit card bills can be used to claim the CRED jackpot that gets unlocked daily during the 13th over of every Vivo IPL 2021 match.

What are CRED Coins and how can you use them?

As a CRED member, you don’t just make timely credit card bill payments, but also get rewarded for it - with CRED coins. You earn one coin for each rupee paid off on the bills and can use these coins to collect various rewards made available on the platform. These rewards include discounts while shopping from partnered merchants promoting their goods, services on the app, as well as raffles and jackpots. You can use your coins to participate in mega jackpot events like the jackpot week happening from 27th to 3rd May 2021.

CRED also gives good Samaritans the opportunity to easily contribute to betterment of the society, by utilizing their coins for a variety of causes such as building playgrounds (they’ve pledged to build 52 across cities), donating masks, or sponsoring children’s education.
You can also redeem CRED coins for actual cash in the ‘**** the Bill’ section which is a cash back offer. The cash back is transferred automatically to the respective credit card, against which you have redeemed CRED coins.

Additionally, CRED Gems is a referral program where for every person that you refer to CRED who makes a bill payment, you earn cashbacks or stand a chance to win rewards like iPhones and Macbooks.

How can CRED help improve your credit score?

On your CRED app dashboard, you can see your repayment score and credit utilization health. These are critical factors to improve your credit score and CRED helps you to continuously monitor these vital scores. The availability of your credit score report enables the app to update you with the guidelines to follow to improve your credit score. There is a useful ‘Refresh Score’ option, to track the quarterly ups/downs in the score and is almost an exclusive feature to this app. Scrolling further, you will find all the factors that are making your score high/low. You can work-on LOW scoring elements to improve your overall Credit score.

The app also analyses your monthly credit card spends and gives you a reality check. But it will require you to authorize CRED to access your emails and so, this feature is made optional. It also sends alerts if there are any suspicious activities on your credit card, notifies you about charges, or unexpected fees on credit card bills, sends due dates on WhatsApp, collects credit card bill details and the dues to be paid.

Yes, looks like CRED is on a mission to celebrate and reward credit-worthy individuals. It is a transparent and fully digital platform of highly trusted individuals, brands and institutions. Its empathetic approach to design makes financial decisions visible, delightful and rewarding for its members, facilitating access to a better life in the form of exclusive rewards and experiences. Talking of that, the CRED app has a new design experience, based on neuromorphic design principles and a brand-new design system developed by CRED.

Check your credit score for free with CRED’s Credit Score Calculator

Disclaimer: This article has been produced on behalf of CRED by Times Internet’s Spotlight team. Source https://www.wikinewforum.com/showthread.php?t=415829

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