Is Cred App Approved by RBI – Is It Safe for Credit Card Payment ?

Cred is a members-only credit card payment solution that rewards its users every time they pay their credit card bills. This reward is in the form of Cred coins, and members can use them to buy products at a discounted price on the Cred app.

Even though this is so lucrative tool, many people have doubts that is it really a safe option for credit card bill payments.

In this article, I will explain with proof how CRED can be a money-saving nugget for you. This article will also clear your common doubts that “Is cred app approved by RBI or is it safe to use?

Stay tuned till the end of the article and learn to make the best use of the Cred app for maximum benefit.

Advantages of CRED App

#1. Finds Hidden Charges on Your Credit Card

One of the best features of the CRED app is that it finds the hidden charges that your bank induces in your credit card bill.

CRED actually saved me 1537 Rupees last month. As you can see in the screenshot below that my credit card charged me a late fee (2 days late in this scenario) and Intrest of a total of 1537.86, which is 17.44% of the total spend.

The CRED app immediately notified me through the WhatsApp message.

I called my bank and talked with them about these charges and at my request, the bank agreed to credit back the whole amount.

Screen Shot of CRED App on My Mobile

#2. Get ₹ 250 on Next Credit Card Bill Payment

You would earn up to ₹250 cashback on your next Credit Card bill payment. On referring your friend you will get another ₹750 on his first payment.

Download Cred & Get ₹ 250

#3. Rent Pay Offers


Do you know? Now you can pay rent with a credit card on the CRED app and can win upto 100% refund on rent.

Terms and Conditions to Get 100% Refund on Rent:
  1. Make rent payments using a credit card on CRED and get a chance to win 100% cash-back.
  2. Valid on all cards. No minimum or maximum rent amount for eligibility.
  3. The offer is applicable only once per month per user.
  4. For the winner, cash-back will be credited within 45 days from the date of payment
  5. Redeem 10,000 coins to avail the offer.

#4. Get up to 100% Cashback on Education Fees:

Now you can Pay School, College, and Tuition Fees with Cred.

You can now win a chance to get 100% off your Education fee. Redeem 8000 coins to win a chance to get a 100% refund on your transaction

Terms and Conditions:
  1. Make education fee payments using credit card on CRED and win a chance to get 10% cashback
  2. Valid on all Cards. No minimum or maximum fee amount for eligibility
  3. One lucky winner every day wins 100% cashback on their payment.
  4. For the winner, cash-back will be credited within 45 days from the date of payment.
  5. Redeem 8000 coins to avail the offer.
  6. The offer is applicable only once per month per user.

#5 Never Miss a due Date of Your Credit Card Bill

Cred sends you notifications on regular basis and reminds you of the payment of your pending bill. You can also check the unbilled transactions of your card through Cred.

Is Cred App Approved by RBI?

Cred is approved by the National Payments Corporation of India (NCPI), which is a part of RBI.

The National Payments Corporation of India (NCPI) is a special unit of the Reserve Bank of India under the auspices of the Ministry of Finance, Government of India.

NCPI was created by RBI for operating retail payments and settlement systems in India.

Download Cred & Get ₹ 250

Is Cred Safe to Use?

Looking at everything Cred offers, one might say that the app simplifies credit card management to a great extent, but is it really safe to use it?

Cred complies with PCI DSS when it comes to security and fulfills all the requirements necessary to securely manage credit card details.

In addition, Cred uses 256-bit encryption to store all your credit card details and is a NCPI certified third-party application provider. The app is also integrated with axis bank to process UPI payments.

So when it comes to safety, Cred is genuine on most of the points. That being said, to generate smart statements, the app accesses your email account, and in terms of its privacy policy, CRED states: “We only read emails from financial service providers including banks and credit card issuers and we do not open, read or access anywhere emails. ”

CRED stores a lot of personal information such as email accounts, mobile numbers, and credit card information to make credit card payments easier.

Giving all this personal information to one business can be dangerous because if that data is compromised in a data breach, you have everything you could lose.

Not only that, Cred is free and offers all these services without charging its users. Therefore, there is little chance that it uses all this personal information to generate revenue by selling data to other people.

So to sum up, Cred is good at making credit card payments, but the amount of personal information you collect can be dangerous if it gets into the wrong hands.

How to Make the Best Use of the CRED App

To make the best use of the CRED App follow these disciplines:

  • Install the CRED app from the following link to win ₹250 on the first payment. CRED LINK
  • Always pay your credit card bill with the CRED app from now on to get rewards on regular basis.
  • Refer your friends to sign up through your link. By doing so you will get 750 rupees on the first payment of your friend. Your friend will also get ₹250.
  • Pay your house rent and education fee through CRED to win the chance at big offers.
  • Register yourself for CRED whatsapp notifications to never miss a due date save hidden charges.
  • Open and check the CRED app to explore the latest offer.

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