We’ve all heard horror stories about credit card debt – ruthless recovery agents, inflated bills, and the credit card interest trap. Yet, credit cards are booming, with wealthy Indians owning multiple cards. Do they have a secret, and smarter, way of using credit cards?

It’s simple. There is a skill to managing credit, and if done right, it can extend your personal runway, help manage expenses smartly, handle your cash-flow, and offer rewards and offers through loyalty programs. Understanding and applying easy hacks in credit card management can go a long way in establishing credit-worthiness and open a whole new world. CRED makes this easy and rewarding, replacing the danger or fear of using credit cards with delightful rewards.

Here are some things to know before you take credit:

First, keep a tab on the interest rate. Even if the card is purchased at a promotional rate, it will be bumped up by about 15-20% after that period ends. So, make sure that all the balance is paid off during the promotional period.

Second, keeping a tab on payment timelines and its impact on credit scores. Earlier, people used to have several misconceptions about using credit cards. For instance, they thought that late payment of credit card dues was alright as long as it was complete. However, this is not true. Missing credit card repayments does dent the credit card score, even if it is paid in full. Late payment of bills is not good credit behavior.

Third, make it rewarding! Rewards is another significant point to consider and this is one detail that actually increases the appeal of owning a credit card. Paying turns into a rewarding experience, too.

Speaking of rewards, with CRED, a members-only
credit card bill payment platform, people get rewarded for paying their credit card bills. To be able to enjoy its advantages, people’s credit score needs to be above 750. This is checked through the phone number that is linked to the bank account. Here are some of its perks:

  1. A world of exclusive access: Every time people pay off their credit card dues using CRED, they receive CRED coins, which can be utilized to get exclusive access to rewards and experiences.
  2. Never miss a due date: People can also set payment reminders so that due dates are not missed, and with instant settlements, one never has to wait for their payments to go through.
  3. Take control: With a service like CRED, people are in complete control of their payments and their credit card. Through CRED Protect, they receive a category-based analysis of all their transactions. They can see if there are any hidden charges and also keep track of their credit limit.
  4. Unique products and experiences: People also can satisfy their refined taste with the CRED Store with a unique selection of products, brands and experiences meant to rejuvenate after a long day of work.
  5. Rewarding AND safe: Security always takes precedence at CRED. All data and transactions are encrypted.
  6. Pay rent and enjoy longer credit: People can pay their rent with CRED RentPay to enjoy up to 45 days of the credit-free period. They can also use their CRED coins to get cashback on the rent paid each month.

And as the official sponsors of the ongoing IPL season, CRED has much more to offer!

  • Cashback: During the power-play overs of any Vivo IPL 2021 match, people can clear their credit card bills, and stand a chance to earn a 100% cashback. What’s also fun is that they can also get featured in a live match telecast.
  • Jackpots: From 27th April to 3rd May 2021, CRED encourages members to stay at home and be rewarded by participating in mega jackpots where they can win unmatched rewards from bitcoin to gold, Harley Davidson Fat Boys, TATA Safari car, complete home makeover, brand-new iPhones for a decade, free flights for five years.

Bill payment is a chore. But a platform like CRED is adding more value to it with a host of rewards and experiences, along with emphasizing safety and convenience. So, if you have been using a credit card or are contemplating applying for one, utilizing the CRED app will help you get more out of your credit cards every step of the way.

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