CRED was launched as an app to pay credit card bills and earn rewards. Now the finch company has refreshed design and added two notable features to make the app even better. Newly added features are CRED RentPay and CRED Stash.
CRED RentPay lets users pay recurring household expenses like monthly rent using the CRED app. So, you can pay rents using credit cards and enjoy an interest-free credit period. You can enter the UPI details or bank account details of the landlord for instant money transfer.
CRED Stash is an instant credit line that offers a pre-approved active credit line of up to Rs 5,00,000 without the tedious application and verification processes. The company also claims that interest rates are one-third of typical credit card interest charges. This is available only to a trustworthy member base who has credit scores over 750.
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One can select the amount and preferred duration to pay back. Bank will only charge interest on the amount withdrawn. Credit Stash limit also depends on members’ credit scores, credit card limits and previous card repayment. This feature is being rolled out to the limited number of users for now and will be available to all after this pilot testing ends. Users can monitor their CRED Stash, track repayments, pay upcoming EMIs and more.
The company has also updated the app design to offer immersive product experiences.
