Is there any benefit of paying Credit card bill through CRED?
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I have registered on CRED and wondering what is the benefit of using this to pay the credit card bill. Can anyone else who has used this highlight? They something like we get equal number of CRED coins as we made payment of so how and where to use these CRED coins and what kind of redemption options are there?
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You get CRED coins worth the amount of CC bill that you pay. In the CRED, there will be a tab called club at the very end on the bottom toolbar. You can redeem your coins there.
There are several ways to redeem, if you’ve paid over 1K, then you can roll 1K CRED coins for a chance to get 1K off your CC Bill, probability of which is. … low. You’re likely to get high single digit to very low double digit off in reality.
Or you can reedeem coins to get some amount off on a range of products in their cataalogue. Earlier you could redeem coins for the entire value of the product, now you only get some percentage off on products which no one really needs and are overpriced.
Or, in better days, you can book a holiday someplace, again getting some amount off the packages available.
You can also redeem CRED coins at some physical stores, there will be a list in the app.
Also if you have a lot of cards, you can add them all in CRED, and give the app permissions, , so it will show you a dashboard with your cards, and payment amount and due dates etc. Can help if you’ve a lot.
You can also pay house rent with CCs, to get some extra time to pay rent, and then earn coins when paying off that CC debt.
It used to have some value, , but personally for me, CRED no longer offers any reason to pay off CCs using it. The coins are not of any worth, for me, and the items on offer aren’t worth having the app.
its not worth to use cred now.scratch card will give u single digit cashback.never got more than 30-40 rupee on payment of 30k bill.stopped using cred now..y to share personal data with them for 30-40 rs.
other the referral benefit, nothing else is beneficial with CRED. I deleted my CRED account as I don’t want them to have my expense details (They are able to get my CC statement without allowing them to read from my emails). Their tnc says they can use my cc bill statements and cc re-paying patterns for their analytics. I am sure they would sell this info too.
I am happy with paying CC bill through MobiKwik. It takes a day or two, but still worth it as I am able to use the supercash for a lot of transactions and these days, often mobikwik is coming up with 100% usage of supercash (though max. limit is around rs.75-100).
You get mystry amount showing open box. Rs1000 scratch card..but mostly they give 5-15rs
Thanks a lot for the suggestions guys, seems CRED is useless for payment and I will try to use something else.
Post it here, if you find any other alternative.
My guess is, you will not find any (for multiple CCs, total bill payments per month of >1L).
Offtopic
I had paid rent using housing on 16 at 12.02 am however i received an email of successful deposit on the same day evinging 6.00 pm however the amount is not refelecting in the bank accout as well as after contacting support team they’ve shared UTR no but post that they’re reluctant to respond. Any solution for this?
P.S: all account details were correct except the name had a spelling mistake
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Cred coins are good only for claiming worthless rewards (rarely they offer some decent worthy coupons)
You get mystery rewards/scratch cards for CC payments (1000/5000/20000….5 times each)