Hey TFCians,
CRED has officially entered the co-branded credit card space in partnership with IndusInd Bank. This marks their very first credit card launch, after years of building a brand around bill payments, rewards, and CRED Store.
Charges
Joining Fees: Nil
Annual Fees: Rs. 499 + GST
Annual Fees Waiver Conditions: Not Available
Reward System
Fuel Surcharge Waiver
Enjoy 1% fuel surcharge waiver across all fuel stations in India.
This waiver is applicable for all fuel transactions between ₹ 500 to ₹ 5000 only.
This is a very basic credit card — it doesn’t come with lifestyle perks like lounge access, movie offers, etc. But if we look purely at the reward system vs. annual fee, it does offer some value.
That said, I doubt it can really compete with rivals like HDFC Swiggy, SBI Cashback, or SBI PhonePe cards when it comes to online spends. Where it does stand out is UPI transactions — here the card has a clear edge.
I was invited to the private CRED launch event for this product but couldn’t attend due to personal reasons. From what I’ve heard from friends who were there, CRED is also planning to launch a premium credit card soon — and that one might come with a stronger set of benefits.
Overall, this card is decent for UPI spends, but for regular online or offline transactions, the market already has better options at this price point.
CRED has officially entered the co-branded credit card space in partnership with IndusInd Bank. This marks their very first credit card launch, after years of building a brand around bill payments, rewards, and CRED Store.
Charges
Joining Fees: Nil
Annual Fees: Rs. 499 + GST
Annual Fees Waiver Conditions: Not Available
Reward System
| Mode of Payment | Rewards |
|---|---|
| E-commerce | 5 CRED Points per ₹100 (up to 5,000 points per statement cycle) |
| CRED (Pay, Travel, Store) | 5 CRED Points per ₹100 (up to 5,000 points per statement cycle) |
| CRED UPI (In-app) | 5 CRED Points per ₹100 |
| CRED UPI Scan & Pay | 1 CRED Point per ₹100 (max 500 points per statement cycle) |
| Utilities & Insurance (via CRED) | 1 CRED Point per ₹100 (no points outside CRED) |
| Other Domestic Transactions | 1 CRED Point per ₹100 |
| International Transactions | 1 CRED Point per ₹100 |
- Best value comes from E-commerce + CRED Pay/Travel/Store + CRED UPI spends (5x points).
- All other spends = 1x points.
- Monthly caps: 5,000 points/month on accelerated spends & 500 points/month on Scan & Pay (outside CRED).
Exclusions
No reward points on spends under:- School & Education Services
- Government Institutions
- Wallet Load
- Rent
- Jewellery
- Fuel
- Quasi Cash / Cash Withdrawal
CRED Points Validity
- CRED Points remain valid for 24 months from accrual date.
Redemption System – CRED IndusInd Bank Credit Card
Redeem your CRED Points easily via the CRED App.| Redemption Option | Value of 1 CRED Point |
|---|---|
| Flights & Hotels booked via CRED | ₹1.00 |
| CRED Store purchases | ₹1.00 |
| Select CRED Pay merchants | ₹1.00 |
| Bill Payments through CRED | ₹0.50 |
Key Conditions
- CRED Points can only be redeemed on the CRED app.
- Redemptions are governed by CRED’s Terms & Conditions.
- Points earned remain valid for 24 months from accrual.
Fuel Surcharge Waiver
Enjoy 1% fuel surcharge waiver across all fuel stations in India.
This waiver is applicable for all fuel transactions between ₹ 500 to ₹ 5000 only.
This is a very basic credit card — it doesn’t come with lifestyle perks like lounge access, movie offers, etc. But if we look purely at the reward system vs. annual fee, it does offer some value.
That said, I doubt it can really compete with rivals like HDFC Swiggy, SBI Cashback, or SBI PhonePe cards when it comes to online spends. Where it does stand out is UPI transactions — here the card has a clear edge.
I was invited to the private CRED launch event for this product but couldn’t attend due to personal reasons. From what I’ve heard from friends who were there, CRED is also planning to launch a premium credit card soon — and that one might come with a stronger set of benefits.
Overall, this card is decent for UPI spends, but for regular online or offline transactions, the market already has better options at this price point.
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