CRED Rent Payment Charges (and some finer points)

What are the Charges for paying Rent on CRED ?

You could pay rent with CRED using Credit card or UPI.

Charges for paying rent with Credit card:

CRED charges you 1% to 1.75% service charge for rent payment (to cover their processing cost). These charges may vary for each transaction depending on the amount and the processing cost of a particular transaction. The exact charges would be communicated to you on the payment review screen before you initiate the payment.

Charges for paying rent using UPI:

There isn't any convenience fee for rent transactions using UPI. However, paying rent through your credit card gives you access to numerous benefits (see below), which wouldn't be available on UPI transfers.

Benefits of paying through credit card instead of UPI on CRED:
On CRED, paying your rent through credit card gives you access to numerous perks:

1. Earn up to 3.3% extra reward points on your credit card
2. Earn more CRED coins upon clearing your credit card bills
3. Easy repayments with up to 45 days of credit period
4. Reach your credit card annual fee waiver and reward milestones faster
5. Improve your credit score by paying back on time

Time taken for money to be credit to Landlord's account:

Once you select your method of payment and submit your landlord's account details, your payment is processed and deposited into your landlord's account instantly. In a few cases, it an take up to a few hours.

However, keep in mind the below fine points as well:

1. You can avail Rent Pay facility only once in a month
• If you try multiple transfer in a calendar month you will get "Monthly usage limit exceeded"
2. You should provide the PAN card number of your land lord
• As per the IT act, it is mandatory to submit the landlord's PAN for rental payments above INR 50,000
• You thought you could use this as a hack to transfer money to your own account ? Gotcha! that is not gonna be possible..
3. The Landlord's name you give should match with the back account details provided. If not you will get a "Landlord's name did not match the bank account details" error

Answers to some of the other frequent questions about CRED Rent payment feature:

My account has been debited but my landlord has not received the money

In rare cases, it can take up to 24 hours for your payment to be processed and deposited into your landlord's account. Rest assured, in such cases, we will get the issue resolved at the earliest to ensure your timely rent payment to your landlord.

Is it safe to pay rent on CRED?
Yes, all payments on CRED are encrypted and comply with the highest standards of security.

My account was debited but my payment has failed
CRED initiates an automatic refund in such rare cases. The money will get refunded back to you within 5-7 working days.

I paid rent through CRED but did not receive any CRED coins
Your rent payment would get added to your next credit card bill. Therefore, you will get more CRED coins when you make your next credit card bill payment on CRED.

Do I get a receipt after paying my rent?
Currently CRED is working on building an auto receipt feature for making your experience seamless. CRED will notify all our RentPay users with the update, as soon as it is launched. Thank you for your patience.

I am getting the error "Seems like you have entered your own PAN"
Please submit your landlord's PAN number in the space and retry

My payment has failed. When should I expect a refund?
CRED initiates a transfer as soon as a payment fails. In such rare cases, the money will be deposited into your method of payment within 5-7 working days.

To join CRED App with referral benefits (10 gems convertible to Amazon / Flipkart Gift voucher) visit:
https://credreferral.blogspot.com/2020/08/cred-referral-code.html

How to Use CRED Coin balance

The best way to burn CRED coins is the "Kill the bill" option. However, CRED has limited kill the bill to 5 times a month (you could burn 5000 coins this way - 1000 coins * 5 times). Most of the options present in CRED to burn the coin beyond "Kill the bill" are not very attractive. In this blog post I will explore what possible options you can consider beyond reaching this limit.

CRED Big Basket Jackpot Slot machine:

You will hit the Jackpot when you get "777" in slot machine after you spin. In my experience, I had won from 500 coins to 2100 coins. You can take a look at the video I have made with the outcome of all my 10 spins (you may also note a scroll running on the slot machine where you would be able to see the prizes recently awarded to others)

What you may win ?

• Big Basket shopping worth 2,000 Rs
• Small cashbacks (you may win small amounts like, for e.g 20 Rs)
• If you did not win any jackpot/cashback, you would get CRED coins. 

Game Terms:

• For each spin would have to burn 1000 coins.
• You can spin for a maximum of 10 times per day

I did spin 10 times today, but did not have any luck hitting jackpot. But still I found this a better (you get most of the coins back, in case you did not win Jackpot / Cash) and exciting way to burn those extra coins accumulated in you CRED account

A quick way to earn free CRED coins

Finding yourself short of 1000 coins to try CRED Jackpot ? Check out this post credreferral.blogspot.com/2021/05/how-to-get-free-cred-coins.html for opportunity to earn free CRED coins. No credit card payment required for this.

CRED Referral Offer: Earn upto Rs 1,50,000 (As Amazon gift card)

CRED App is currently running a Referral offer that offers you a chance to earn upto Rs 1,50,000 (as Amazon Gift card). CRED is a Credit card bill payment App that rewards you for every Rupee of credit card bill paid. If you are not yet a member of CRED club, join it by following steps at https://credreferral.blogspot.com/2020/08/cred-referral-code.html

How and what do you win by the special referral Campaign:

• Top 1-5 referrers wind Amazon gift cards worth Rs 1,50,000 (Rs 1.5 Lakhs)
• Top 6-10 referrers win Amazon gift cards worth Rs 50,000
• Every participant gets up to Rs 1,000 for every successful referral

Criteria used to get a score on the leader board:

• Your referred Friend must sign-up and pay between November 11th 4:30 PM - November 21st 6:30 PM
• Your referred friend must download the app and sign-up only using your referral link
• If your referred friend has already downloaded the app or signed-up before November 11th 4:30 PM, you will not get a score on the leader board
• If two members have the same count, the member that gets their friend to sign-up and pay first gets the higher rank
• You get assured cashback only if your referred friend makes their first payment
• Your assured cashback will be 2% (upto Rs 1,000) of your referred friend's first payment amount
• You must have atleast one credit card on your CRED account to receive the cashback
• For winners, the company reserves the right to deduct taxes as applicable.