‘CRED’ a Fintech Startup Allow Users to Make Credit Card Payments Through its App For Which They Get Rewarded
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CRED is a members-only credit card management and bill payments platform that rewards users every time they pay their credit card bills.
The fintech startup operates an app that rewards customers for paying their credit card bills on time and gives them access to a range of additional services such as credit and a premium catalog of products from high-end brands. The app also offers many rewards for using in the form of CRED coins, which can be redeemed for cash or offers. However, not everyone is eligible to use the CRED app. The CRED app only accepts users who have a credit score above 750. The app checks your credit score through your phone number, which is connected to your bank account. If you do not qualify for entry into the app, you are put on a waitlist. You can also use the CRED App to make payments via debit cards, UPI, or CRED Cash balance.
Customers are offered a range of features, including the ability to better track spending across various credit cards and get reminders. Cred is backed by investors such as Falcon Edge Capital, Coatue Management, Insight Partners, DST Global, RTP Global, Tiger Global, Greenoaks Capital, Dragoneer Investment Group, and Sofina.