CRED introduces ‘RentPay’ for rent payments on credit card and ‘CRED Stash’ instant credit line

Cred Fintech firm was launched back in 2018 as a members-only app offering users with rewards for paying their credit card bill. The company has been refreshing the app design, introducing new features lately and on similar lines now, CRED has introduced two new financial products along with a new design experience.

CRED RentPay and CRED Stash are the company’s new financial products and it has been introduced to enhance financial confidence for Creditworthy individuals. Firstly, CRED RentPay, as the name suggests lets CRED users pay their highest recurring household expense like monthly rent, on credit. Users can pay monthly rent with their credit cards directly from the CRED app and by doing this, they can free up cash, enjoy the interest-free credit period, and earn reward points, CRED coins on credit card spend.

To get started with RentPay, CRED users need to key in the UPI details or bank account details of the landlord, and instantly transfer the rent from their credit card. The company has also said that it will add new features over time like auto-pay, ability to pay maintenance charges and security charges through credit card, that can then be financed with affordable EMIs.

Depending on the user’s credit card network, they can avail the CRED RentPay at a transaction fee that will range from 1% to 1.5%.

Moving on, CRED Stash is another financial product from the company which is being piloted with IDFC FIRST Bank. CRED Stash is an instant credit line that will be progressively pre-approve users for an active credit line of up to Rs 5,00,000 and compared to the conventional method which involves forms, documents, phone calls, physical visits, etc, CRED Stash will let users get things done digitally, which is a good thing.

Users can draw down any amount from their available limit and instantly receive the selected amount in their bank accounts. They can select their preferred duration to pay back and there is no minimum tenure. The interest will be charged by the bank only on the amount withdrawn, at a third of the interest rates charged on credit card usage. CRED says that users can monitor their CRED Stash at any time, track repayments, pay upcoming EMIs, lump-sum or even foreclose instantly at no extra charges. The available limit will be visible to members at all times, similar to how they track their credit cards, CRED coins, gems.

Apart from this, the company has introduced a new design experience, based on neumorphic design principles.

Commenting on the launch, Kunal Shah, Founder and CEO, CRED, said:

High-trust communities result in high-performance societies because the reduced risk allows institutions to offer a wide range of products and services with less friction and greater convenience. That’s why CRED is able to offer powerful and customized products in partnership with several institutions for our creditworthy members. With the intent of enabling members to maintain their good credit track record and increase confidence at a time of economic uncertainty, we have fast-tracked the launch of two products with the support of banking partners, including IDFC FIRST Bank. CRED Stash and CRED RentPay are particularly useful in optimizing cash and credit, which is critical in the current environment.

Author: Manoj Nagendra

Manoj Nagendra is passionate about smartphones and the latest technology. He likes to write and explore the latest tech and you can often find him with an Android phone. You can follow him on Twitter @manojshesh24 and also mail at