Ever Since Dream11 IPL began on September 19 in UAE we have been seeing CRED Ads on TV Screen during breaks. In the Recent Times, the Indian Premier League Governing Council announced CRED as their Official Partner. Many eminent celebrities like Anil Kapoor, Madhuri Dixit, and Bappi Lahiri are roped in for quirky advertisements. However, the ads will not much tell how it works and What CRED is actually.
If you wondering What CRED is and How it works and why you should or shouldn’t use it you have come the right way. We have covered everything right from How to Apply for a CRED Membership, Pay Rent, Rewards, Expert take on it, etc.
Also, Check: List of 10 Best Credit Cards in India
What is CRED?
CRED is a members-only club that rewards individuals for paying timely credit card bill payments and gives exclusive offers. In fact, the App allows users to manage Multiple Cards, Pay Bills on Time, and Get Rewards. You can also have an analysis of Credit Score, Bills and it tells how you have been using the Credit Card. You can get Remainders on Due Payments as well.
What does a tech company know about ads?
@CRED_club pic.twitter.com/M4dESpbpu1
— Madhuri Dixit Nene (@MadhuriDixit) September 25, 2020
How to Apply for a CRED Membership?
Not everyone can download and register to CRED App as it has a minimum criterion i.e. Credit Score. After downloading the app enter the details like name and mobile number. The app checks your credit card details and then finds out credit score and you can move forward once you fulfill the criteria. Then make a list of all your credit card details, provide access to a monthly statement by giving permission to read your emails.
How it Works?
On Providing CRED Access to mails, details of your monthly credit card bills appear on the app soon after you receive the Statement. You will also receive an Analysis of Spend Tracking and efficiency of usage of Card. The App allows you to pay bills from your Bank Account using UPI. For Paying Credit Card Bills you will receive Credits that can be used to earn Cashbacks and to Offers from CRED Partners.
Pay Rent
The App has got a feature by which you can pay your rent using a credit card at a smaller processing fee. In general, we use cash to pay rent and there is hardly any app that allows you to pay rent using Credit Card. Although CRED Charges a Small Amount you will receive a part of it in the form of a Cashback after paying the Credit Card Bill.
Do Read: Pros and Cons of Paying Credit Card Bills Through Third Party Mobile Apps
Rewards
In order to obtain Rewards, you need to pay a minimum bill of Rs. 1000. If you pay a bill of Rs. 5,000 you will get two cashback options. You need to use the Credit you received to earn the Cashback. On Paying a Bill of Rs. 20, 000 or upward you will three cashback options open. You can also use these credits to avail promotional offers such as gift cards, access to events, discounts from various brands, etc.
Expert Take
Alekhya Boora, co-founder Ripsey, and a former investment banker said “Yes, its value add is that it reminds you to pay bills on time and gives you rewards for good behavior. There are other brands which do this other spaces. Some fitness apps like Charity Miles, Gympact, Sweatcoin, Dietbet, etc gives you rewards if you do x mins of workout”.
Summary
Hope the info shared regarding the CRED ads during IPL on TV and All About the App has shed some light on you. If you need any other info feel free to reach us and we will clear all your queries. Keep in touch with our Site Versionweekly.com to avail the latest updates on CRED App and other related stuff at your fingertips.