If you use the CRED app regularly, you must have noticed the CRED coins. But do you know how to use it or just put how to burn credit coins? Most people don’t pay much attention to how to use it. But it comes with additional benefits and some useful things. Coins can be used to play the daily lottery, help you buy items in the CRED store, and more.
However, CRED is said to connect with the best; this also means that it selects the best customers. As a result, CRED is not available to everyone. They select their clients. To join CRED, you must have an Experian score of 750 or higher. Once you open the app, it helps you maintain a good credit score; however, it’s up to you to keep your credit good enough to join CRED.
Also, the app recently introduced a Scan and Pay feature and a daily coin generator that gives you up to 18,000 free coins. Read the article till the end to know more. We also have a dedicated Business/Forex section on Phoneswiki. Look at that too.
What is CRED?
CRED is an online payment application, available for iPhone and Android in the respective app stores. It comes free as an app. According to the company, its goal is to make credit card use earlier and more automated. Another feature of the app, he claims, is that not everyone is eligible to use the CRED app because the app only accepts users who have a credit score above 750.
Now how do you get your credit score back? There are tons of apps and websites that will help you recover your credit score with ease. But you don’t have to go places to get credit scores when CRED itself will help you with that. We’ve added how much it takes to apply to CRED and recover a credit score below.
How to request CRED?
To apply for CRED, users must have a credit score of 750 or higher, according to the company. However, it should be noted that there are several credit bureaus for the recovery of credit scores, that is, CRIF, CIBIL, Experian and others.
To create a CRED account, follow these steps:
Step 1: Install the app from the App Store or Play Store on your iPhone or Android. Step 2 Launch the app and verify your phone number using OTP. Step 3 – Now if your credit score is 750 or higher, you can easily become a member. Step 4: And you will see all your credit cards on the screen as the app is integrated with Experian. Step 5: Enter your hidden card numbers to verify them. Step 6: Done.
Bonus Tip: You can earn up to Rs 250 if you make your first credit card payment of Rs 1000 or more using this link.
In case the application process fails or your membership application is rejected, here are the steps you can try:
Step 1 – If you have multiple mobile phone numbers associated with credit cards, try updating the contact numbers to a single phone number. Step 2 – If you have been rejected for no apparent reason, please contact their customer service. Step 3 – If your credit score is below 750, wait a few days and try again.
Note: Prepaid cards are not credit cards. Therefore, you will not be able to add them.
How to earn money using CRED?
There are numerous apps on the market that come with a referral program, and like others, CRED also rewards you when you bring someone on board, but there are certain conditions: they must join the app through your link, which you can get by simply clicking the app banner. When you refer someone and they join, you earn a good amount of Rs 500-1000.
Also, there is no such joining bonus but if you join the app through this link and pay a bill of more than Rs 1000 on your credit card; you get a guaranteed cashback of Rs 250.
Another hack you can rely on is the Cred Scan and Pay feature, which is the company’s latest attempt to match UPI in the app and, due to its early stage, offers decent rewards. The rewards are in most cases: Cred Cash and sometimes Cred Coins. Cred Cash can be used while shopping at the CRED store or paying bills.
How to collect CRED coins?
CRED Coin Generator
Every time you pay a bill, earn CRED coins. For example, if you pay an invoice for HRK 15,990.00. As a reward, you get 15,990 credit coins that you can use in the app for a ton of things. Did you know that you can collect up to 72,000 coins per day? But it doesn’t work like that, in other words, it’s not easy and sometimes it involves luck. This is how you can claim your daily coin bonus every 6 hours.
Step 1: Launch the CRED app. Step 2: Under Balance, Coins & Coupons, tap on Coins. Step 3 – You will be redirected to the coins page. Tap Collect Now in the Coin Generator. Step 4: There will be a carousel, so try your luck; not everything is a matter of luck. This includes skill.
Note: It takes 6 hours to recharge a box with 6000 coins. Subsequently, roulette allows you to obtain up to 3 times the value of the stored coins, that is, up to 18,000.
How to collect CRED coins?
There are none directly way to fully convert CRED coins into cash. But there may be something you can do with them and turn them into cash. CRED’s coin-to-cash feature is an underrated feature of CRED. You may be wondering how to convert CRED coins to cash. Don’t worry, we’ve got that covered too.
Who wouldn’t want their app currency converted to real money? That is why CRED allows you to convert your coins to cash using the Burn option. When you burn your CRED coins, they are transferred to your credit card and linked as cash. By paying through the app, the user can acquire CRED coins, which they then burn for cash.
For example: When you make a payment or pay bills, earn a reward that gives you real money as a reward by burning existing CRED coins.
How to pay bills with credit cards through the CRED application?
It is a simple and neat process to pay your bill by credit card using CRED. Follow these steps to pay your credit card bill.
Step 1: Launch the application Step 2: Go to the Cards section Step 3: There will be one or more credit cards on your screen; Just tap Pay Now. Step 4: Enter the amount and pay.
Note: CRED claims to support bill payment by credit card from American Express, Standard Chartered, Citibank, HSBC, HDFC, ICICI, SBI, AXIS, RBL, PNB and other Indian banks. I tried adding SBM OneCard and it worked too. In addition, CRED adds that it supports VISA, MasterCard, American Express and RuPay cards.
You can also pay rent, school fees, insurance premiums, and phone bills with the CRED app.
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What are some features of CRED?
CRED has several other features besides being a credit card payment app that tells you about your credit score. You can use this app to:
- When you use the CRED app, you will enjoy the benefits of CRED’s partner brands.
- The app notifies you when it’s time to pay your dues. This in turn helps improve your credit.
- The app accepts quick payments and has a statement analysis tool that allows you to track where your money is going.
- CRED Protection alerts you to any hidden charges that may be imposed and displays your credit limit in real time.
- By using the CRED app, you earn CRED points that you can redeem for cash back and special gifts by participating in games and raffles.
- You also have access to the CRED store as a user, which contains exclusive merchandise and exclusive prices available only to you.
- CRED RentPay offers a 45 day credit free period as well as reward points.
- Every transaction is encrypted and therefore safe and private for you.
- You can also use the SIP calculator that comes with CRED.
- The CRED app also comes with a built-in EMI calculator.
- You can use a PPF calculator to calculate your PPF.
- CRED includes calculators for home loans, auto loans, fixed deposits, recurring deposits, basic loans, and complex loans.
- The latest Scan to Pay feature rewards you with a huge cashback compared to other similar apps.
summarizing
The CRED app features go beyond credit card rewards and cash back. There’s no need to pass up the extra reimbursement and convenience that comes with simply paying your bill using the app. If you’re likely to use net banking to pay your credit card bill anyway, why not double the benefits?
However, now the credit card bill payment system has spread to several major companies like Amazon, PayTM, PhonePe and some others but CRED was the first to do it. Share your experience with the PhonesWiki team; we are all ears.
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Source: newstars.edu.vn