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Cred App Important FAQs 2020

Cred app

You might have seen Cred ads in IPL 2020 and wonder what is Cred? I am using Cred from May 2019 (more than 18 months) to date to pay my credit card bill. I will share some important FAQs that will help you to know about Cred App and you can take maximum benefit of the app like me.

So let’s get stated.

Download Cred App

What is Cred App?

Cred is an app that helps you to manage your credit cards and pay all yours Credit Cards bill at one place.

Download Cred App: Click here

What are the advantages of the Cred App?

  • Reminder for Credit Card bill payment. (Save on interest and heavy penalty)
  • Pay all Credit Card bills in one place.
  • Cred helps you analyze your credit card spend.
  • Cred help to Identify hidden charges such as annual fees, finance charges, etc. by banks and credit card companies.
  • Cred also helps you check offers & reward points of your credit cards in one place.
  • Earn cash back, discount, products, subscription, etc. for paying credit card bills.
  • Check Your Credit Score for Experian and CRIF.

Who is Cred’s founder?

Cred is founded by Kunal Shah. Same Kunal shah who have founded Freecharge.

Is Cred an Indian Company?

Yes, Cred is an Indian company. Cred headquarter is in Bangalore.

Why I am waitlisted on Cred?

That means your credit score is low and you are currently not eligible to use Cred. You will be notified when you can use the same.

Credit Score Required for Cred? Who can be a Cred Member?

Minimum Experian credit score of 750 or Minimum CRIF credit score of 570 for approval of Cred Membership as per cred app.

Is Cred free to use?

Yes, Cred is free to use. In fact you can earn cashback, rewards and discount from cred by paying credit card bill.

How to pay a credit card bill through Cred?

Download Cred from this link > Sign up > Add the Credit Card you want to pay bill > Pay using UPI or Net Banking > Your Credit card bill payment is done. 🙂

How to earn cred coin?

You earn cred coin equivalent to amount of credit card bill payment.

Does Cred Coin Expiry?

No, Cred Coin doesn’t expire.

How much Cred Coin is Worth in Rupees?

There is no direct answer to this question. Sometimes it might worth 1p sometimes 1 Re. depends on where you are redeeming.

How to use Cred Coin?

Cred burn/ Mystery Cashback: This is the best option. In this, you can burn your cred coin and you will get cashback directly in your credit card bill. You get 4 different type of Cred Burn or Mystery Cashback.

Credit Card bill paymentUp to 1K cashback scratch cardUp to 5K cashback scratch cardUp to 10K cashback scratch cardUp to 100K cashback scratch card
1K to <5KYesNoNoNo
5K to  <20KYesYesNoNo
20Kto <50KYesYesYesNo
50K & aboveYesYesYesYes
Cred Coin Required100050001500030000
Typical cashback5-1210-2010-3035-80
Cashback for bill payment on Cred
  • Discount on the product: You can use your cred coin to get discounts on products of brands like Noise, Taag, etc.
  • Play Games and win rewards: You have to play games and to be on Top to win free product s. Apart from the free products, you can also win a discount voucher for brands like Adidas, Noise, etc.
  • Check Credit Score: You can check your credit score of CRIF and Experian for 5000 Cred Coin each.  
  • Subscription and membership: You can get membership from 1 month to 3 months for free. In some cases, you get some discount using some cred coin.

How to earn Cred Gems?

  • You earn 10 Gems when you refer a friend and he/she successfully makes the first payment of credit card bill through cred app.

How to use Cred Gems?

  • You can earn up to Rs.1000. That will be calculated as 2% of the first bill payment made by your friend.  So if your friend made a payment of Rs.10000 then you receive Rs. 200 as cashback. So request your friend to make full payment of the credit card bill.
  • Raffle/ Lucky draw tickets: There are some raffles for which you can buy a ticket for 10 Gems.

How Cred Earn Money?

  • Cred MIGHT earn from brands that want to be part of Cred Shop.
  • Also, Cred earns fees from rent payment through Credit Card on the Cred app.
  • Cred has also started providing loans (Flexi loan) to its member in partnership with IDFC First Bank.  This service is currently available to the selective member and rate of interest also vary from customer to customer.

Customer Care number of Cred? How to contact Cred Support?

Click on Control (Right Corner) > Get Support > Select your issue > you will receive a reply from cred within 24 hrs (typically it’s less than that).
Cred doesn’t have a direct customer care number you can also contact the Cred team using Twitter DM, email, etc.

What are other Cred products?

  • Rent Payment
  • Flexi Loan

How many ratings I will give Cred?

Please note I am not paid for this. 4.5 Out of 5.

How to delete Credit Card details from Cred?

Cred provides an archive of credit card details.
Go to profile > Scroll down you see all your cards here > select the credit card and swipe right > then press archive > your credit card is successfully archive.

As per the cred app (technically they can’t delete your complete data due to compliance reason)

Can we make payment using Debit Card in Cred?

Not anymore. Previously there was option that allowed.

What if my amount is deducted from the bank but not credited to my credit card?

The amount will be refunded in the bank within 5 working days (I got in 3 days). And this had happened only once twice in the last 18 months with me. You can raise a ticket for the same.

Is Cred Safe?

Cred does a regular third-party audit. Also, encryption is done for data. I have not heard about any fraud or faced any such problem in the last 18 months.

Funding of Cred?

According to Cred have received total funding of 175.5M (Approx.  Rs. 1300 crores).


I have saved thousands of Rupees and have got a good voucher for Tata Cliq, MamaEarth, and many more benefits by using the Cred app. Cred is one of the best credit card apps in India. Team Cred is creating a community of High Creditworthy Individuals.  Cred will also introduce many more new products for its member. And it will be member-exclusive apps like member-exclusive stores like Metro etc.

Do let me know your thought and queries on the cred app in the comments sections

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