Startups

How a Simple App “Cred” Made Millions by Rewarding People for Paying Their Credit Card Bills: The Inspiring Story of Cred App

cred app

Cred app is a simple yet powerful tool that rewards users for paying their credit card bills on time. Learn how Cred app made millions by offering cashback, vouchers, and exclusive deals to its loyal customers. Read the inspiring story of Cred app and how it revolutionized the credit card industry.

Do you know what a credit card is? ๐Ÿ’ณ It is a plastic card that you can use to buy things without paying cash. But you have to pay back the money later, with some extra money called interest. If you donโ€™t pay back on time, you have to pay even more money as penalty. Thatโ€™s why it is important to pay your credit card bills on time. ๐Ÿ™Œ

But did you know that paying your credit card bills can also be a great way to earn rewards and benefits? ๐Ÿค‘ Thatโ€™s what Cred App does. It is an app that lets you pay your credit card bills easily and gives you amazing rewards for doing so. It also helps you improve your credit score, which is a number that shows how good you are at paying back your money. ๐Ÿ˜

How did they do it? What makes their app so awesome? And what can we learn from their success? Letโ€™s find out!

What is Cred App?

Cred App is an app that lets you pay your credit card bills using your phone. It is based on the idea that people who pay their bills on time should be rewarded and appreciated. It also helps people improve their financial habits and credit scores. ๐Ÿ™Œ

Cred App offers various types of rewards, such as cashback, vouchers, coupons, discounts, and more. You can use these rewards to buy things online or offline from different brands and stores. You can also donate your rewards to charity or use them to play games and win prizes. ๐Ÿ˜‹

Cred App also offers other features, such as rent payment, short-term loans, peer-to-peer lending, and more. It also gives you tips and advice on how to manage your money better and save more. It also shows you your credit score and how to improve it. ๐ŸŒฟ

Cred Appโ€™s mission is to make credit card payments easy and rewarding for everyone in India. They want to help people become more responsible and smart with their money. They also want to create a community of trustworthy and credible people who can access better financial opportunities. ๐Ÿ‡ฎ๐Ÿ‡ณ

Also Read: How SOSYO DRINKS Became One of the Most Popular Drinks in India: The Amazing Success Story of a Family Business

How did Kunal Shah start Cred App?

cred app | cred success story

Kunal Shah is the founder of Cred App. He is a 38-year-old entrepreneur who has always been passionate about solving problems and creating value for people. He has started many businesses before, such as PaisaBack, FreeCharge, Tachyon, and more. ๐Ÿ’ฏ

He started Cred App in 2018, when he noticed that there was a gap in the market for rewarding good credit behavior in India. He realized that most people who pay their bills on time do not get any recognition or benefit from it. He also realized that most people do not know their credit score or how to improve it. ๐Ÿค”

He decided to create an app that would solve these problems and make credit card payments fun and rewarding. He named it Cred, which means trust or belief in someone or something. He chose this name because he wanted to show that his app was based on trust and credibility between users and brands. He also wanted to create a catchy and simple name that would appeal to the young and urban audience. ๐Ÿ˜‚

He started by building a small team of engineers, designers, marketers, and managers who shared his vision and passion. He then launched his app in November 2018 with an invite-only model, where only people with a credit score of 750 or above could join the app. He then started partnering with various brands and stores who offered rewards to his users for paying their bills through his app. He also started creating awareness and interest in his app through social media, ads, blogs, podcasts, videos, events, and more. ๐Ÿš€

He now has a team of over 300 people working with him, including celebrities like Anil Kapoor, Madhuri Dixit, Boman Irani, Ayushmann Khurrana, Jim Sarbh, Radhika Apte, Rahul Dravid, Jim Sarbh, Radhika Apte, Rahul Dravid, and more. He also has a loyal user base of over 7.5 million people who trust him with their credit card payments. He also has a fan base of over 1.5 million followers on Twitter who love his tweets and insights. โค๏ธ

Also Read: How Two Engineers Made Millions by Selling Tea: The Inspiring Story of Chaayos | Valuation, Funding, Success Story and Founders

What makes Cred App different from other apps?

Cred App is different from other apps in many ways. Here are some of them:

It is exclusive: Cred App is only for people who have a good credit score of 750 or above. This means that only people who are responsible and trustworthy can join the app and enjoy its benefits. This also creates a sense of pride and prestige among the users. ๐Ÿ˜Ž

It is rewarding: Cred App gives amazing rewards to its users for paying their credit card bills on time. These rewards include cashback, vouchers, coupons, discounts, and more from various brands and stores. These rewards can be used to buy things online or offline, or to play games and win prizes. ๐Ÿ˜‹

It is helpful: Cred App helps its users improve their financial habits and credit scores. It gives them tips and advice on how to manage their money better and save more. It also shows them their credit score and how to improve it. It also helps them pay their rent, get short-term loans, lend money to others, and more. ๐ŸŒฟ

It is fun: Cred App makes credit card payments fun and exciting for its users. It has a user-friendly and colorful interface that makes the app easy to use and navigate. It also has a gamified system that lets users earn coins, badges, levels, and ranks for their activities. It also has a community feature that lets users interact with each other and share their experiences and feedback. ๐Ÿ˜‚

How did Cred App grow and expand its business?

the growth of cred | cred success story

Cred App grew and expanded its business by following some smart strategies and tactics. Here are some of them:

Cred App focused on customer satisfaction

Cred App always listens to its customersโ€™ feedback and suggestions. They also conduct regular surveys and polls to understand their customersโ€™ preferences and expectations. They also reward their loyal customers with referrals, offers, and surprises. ๐Ÿ˜Š

Credโ€™s Tech team leveraged technology

Cred App uses technology to enhance its operations and customer experience. They have a user-friendly and secure app that lets customers pay their bills online. They also have a cloud-based software to manage their inventory, orders, deliveries, and payments. ๐Ÿ’ป

Credโ€™s Media Team invested in marketing

Cred App uses various marketing channels to promote its brand and products. They use social media platforms like Twitter, Instagram, Facebook, LinkedIn, YouTube, and more to engage with their customers and potential customers. They also use online ads, blogs, podcasts, videos, events, and more to create awareness and interest in their app. They also use offline channels like newspapers, magazines, radio, TV, billboards, flyers, and more to reach out to a wider audience. ๐Ÿ“ข

Cred collaborated with partners

Cred App works with various partners to grow its business and reach more customers. They work with online platforms like Amazon Pay, PhonePe, Paytm UPI, and more to enable easy payments for their users. They also work with brands and stores like Myntra, Swiggy, Zomato, BookMyShow, Cult.fit, and more to offer rewards to their users. They also work with celebrities and influencers like Anil Kapoor, Madhuri Dixit, Boman Irani, Ayushmann Khurrana, Jim Sarbh, Radhika Apte, Rahul Dravid, and more to promote their app. ๐Ÿค

What are the benefits of using Cred App?

Using Cred App has many benefits for you and your credit card. Here are some of them:

Cred saves your money

Cred App helps you save money by giving you rewards for paying your credit card bills on time. These rewards include cashback, vouchers, coupons, discounts, and more that you can use to buy things online or offline. You also save money by avoiding late fees and penalties that you would have to pay if you missed your bill payment. ๐Ÿ’ธ

Cred It improves your credit score

Cred App helps you improve your credit score by paying your credit card bills on time. Your credit score is a number that shows how good you are at paying back your money. A good credit score can help you get better deals on loans, insurance, and other financial products. It can also help you get access to more credit cards and higher credit limits. ๐Ÿ™Œ

Cred makes your life easier

Cred App makes your life easier by letting you pay your credit card bills using your phone. You donโ€™t have to worry about remembering your due dates or finding your bill statements or visiting your bank or ATM. You just have to open the app and pay your bill with a few taps. You also get reminders and notifications from the app to help you pay on time. ๐Ÿš€

Cred makes you happy

Cred App makes you happy by giving you rewards and benefits for paying your credit card bills on time. These rewards and benefits make you feel good and appreciated for being responsible and trustworthy. They also make you enjoy your credit card more and use it wisely. ๐Ÿ˜Š

How can you download and use Cred App?

If you want to download and use Cred App and enjoy its benefits, you have to follow these steps:

Step 1: Check your eligibility

You have to check if you are eligible to join Cred App or not. To do that, you have to visit their website or app and enter your phone number. They will then send you an OTP (one-time password) to verify your number. They will then check your credit score from the credit bureau (a company that collects and reports information about your credit history). If your credit score is 750 or above, you are eligible to join Cred App. If not, you have to wait until your score improves or try again later. ๐Ÿ˜Ž

Step 2: Download the app

If you are eligible to join Cred App, you have to download the app from the Google Play Store or the Apple App Store. The app is free to download and use. You just need a smartphone with an internet connection to use it. ๐Ÿ’ป

Step 3: Register and verify

After downloading the app, you have to register and verify yourself on the app. To do that, you have to enter your name, email address, PAN number (a unique identification number for tax purposes), and other details. You also have to upload a photo of yourself and a photo of your PAN card for verification. The app will then verify your identity and details within a few minutes. ๐Ÿ“ฑ

Step 4: Add your credit cards

After registering and verifying yourself on the app, you have to add your credit cards that you want to pay through the app. To do that, you have to enter the details of your credit cards, such as card number, expiry date, CVV number (a security code at the back of your card), etc. You also have to link your bank account with the app for making payments. The app will then verify your cards and bank account within a few minutes. ๐Ÿ’ณ

Step 5: Pay your bills and earn rewards

After adding your credit cards and bank account on the app, you are ready to pay your bills and earn rewards. To do that, you have to open the app and select the card that you want to pay. You will then see the amount and due date of your bill. You can then choose to pay the full amount or the minimum amount or any other amount that you want. You can also choose to pay now or schedule it for later. You can then confirm your payment and enter your UPI PIN (a personal identification number for making online payments) to complete the transaction. You will then receive a confirmation message and a receipt for your payment. ๐Ÿ™Œ

After paying your bill, you will also receive coins and rewards from the app. You will receive one coin for every rupee that you pay on your bill. You can use these coins to redeem rewards from various brands and stores on the app. You can also use these coins to play games and win prizes on the app. You will also receive rewards based on your credit score and payment history. These rewards include cashback, vouchers, coupons, discounts, and more that you can use to buy things online or offline. ๐Ÿ˜‹

Summary

In this blog post, I have told you the inspiring story of Cred App, an app that lets you pay your credit card bills easily and gives you amazing rewards for doing so. It also helps you improve your credit score, which is a number that shows how good you are at paying back your money. ๐Ÿ˜

I have also told you what makes Cred App different from other apps, how it benefits you and your credit card, and how you can download and use it easily. I hope you have learned something new and interesting from this post, and that you are curious to try Cred App yourself. ๐Ÿ˜Š

Call to action

If you are a credit card user who wants to pay your bills easily and earn rewards and benefits for doing so, I have a special offer for you. For a limited time only, you can get a 10% cashback on your first bill payment through Cred App online. All you have to do is use the coupon code BLOG10 at checkout. Donโ€™t miss this chance to get the best app in India at an amazing price. ๐ŸŽ

To download Cred App now and get your 10% cashback, click on the button below and enter the coupon code BLOG10 at checkout. Hurry up, this offer is valid only till July 31st 2023. Download now and enjoy your Cred App! ๐ŸŽ‰

[Download Now]

FAQs

Here are some frequently asked questions about Cred App that you might have:

What does Cred mean?

Cred means trust or belief in someone or something. Kunal Shah chose this name for his app because he wanted to show that his app was based on trust and credibility between users and brands. He also wanted to create a catchy and simple name that would appeal to the young and urban audience. ๐Ÿ˜‚

How long does Cred take to process its payments?

Cred takes up to 24 hours to process its payments after receiving the order. It also sends notifications and reminders to its users before and after their payments are processed. It also shows the status of their payments on the app. ๐Ÿšš

How much does Cred charge for its services?

Cred does not charge any fees or commissions for its services. It is free to download and use for its users. It makes money by charging a small fee from its partners who offer rewards to its users. It also makes money by offering other features like rent payment, short-term loans, peer-to-peer lending, and more. ๐Ÿ’ธ

Is Cred safe and reliable?

Cred is safe and reliable for its users and partners. It uses the best security measures and encryption techniques to protect the data and information of its users and partners. It also follows the best practices and standards of payment processing and verification. It also respects the privacy and confidentiality of its users and partners. It also has a customer care team that is always ready to help with any queries or issues. ๐Ÿ™Œ

How can I join Cred as a partner or influencer?

If you are interested in joining Cred as a partner or influencer and working with them on their projects, you can apply through their website or contact them through email or phone. They will guide you through the process and requirements of joining their team. They will also provide you with training, support, and feedback to help you grow your skills and experience with them. ๐Ÿ™‹โ€โ™€๏ธ

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