CRED has launched two co-branded bank cards with IndusInd Financial institution as we speak: an entry-level CRED IndusInd Financial institution RuPay Credit score Card and an invite-only premium card known as Sovereign.
This marks CRED’s official entry into the bank cards, shifting past its standard invoice funds, lending, and commerce play.
Right here, we’re wanting on the entry stage bank card that runs on Rupay community.
Options & Advantages
- Becoming a member of Charge: Nil
- Rewards: 5% on ecommerce transactions & CRED UPI (on-line)
- UPI Rewards: 1% on offline, CRED UPI (Offline) and different UPI Scan and Pay
- Capping: 5000 CRED Factors on accelerated 5% classes per assertion cycle. 500 Factors on Scan and Pay per assertion cycle.
- Instantaneous redemption at 500+ CRED Pay retailers, motels (Expedia) & flights (Ixigo)
- Level Worth: 1: 1 INR for above redemptions; 1:0.50 INR for invoice funds on CRED
All particulars of the cardboard are up on IndusInd portal and right here’s the Financial institution’s press release of the launch.
My Ideas
Accomplice Financial institution: IndusInd Financial institution is just not so well-liked for Credit score Playing cards, however that’s most likely the very purpose why CRED select the Financial institution. It is a nice win for each events by way of enterprise. However for finish customers, solely time will inform.
This partnership, if properly executed is sure to extend IndusInd Financial institution’s market share within the Credit score Playing cards considerably.
Rewards: Splendidly carried out, in par with business calls for in the mean time. Whereas it’s all good on paper, we’ll have to attend and see how the fact is.
Redemption at CRED Pay retailers goes to be one of many candy spot and that is going to be a beautiful USP for CRED to promote CRED Pay Providers. If applied properly, CRED Pay has the potential to turn out to be as well-liked as Amazon Pay in beneath 5 Years.
Bottomline
CRED IndusInd Financial institution Rupay Credit score Card seems to be fantastic on paper and hope the actual world consumer expertise is nearly as good because it seems to be.
Whereas it’s fantastic for millennial searching for journey redemptions, the SBI Cashback Credit score Card stays because the King of Cashback Credit score Playing cards on this phase, which is nice for many who love direct cashback, as a substitute of factors.
That mentioned, count on an in depth assessment of the CRED Rupay Bank card within the coming weeks.
What’s your view on the newly launched CRED IndusInd Financial institution Rupay Credit score Card? Share your ideas within the feedback under.
