CRED Cash Loan Review: Pros, Cons and Performance Evaluation

CRED Cash Loan

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    Looking for an instant credit solution? Check out the CRED Cash Loan review guide, CRED Cash is a hassle-free way to access up to Rs 5,00,000 in credit with competitive rates, flexible repayment options, and rewarding benefits through the CRED app. Learn more about this convenient financial tool for your personal or business needs.

    What is CRED Cash Loan & It’s Features

    1. CRED Cash Loan is a product offered by CRED, a Fintech startup.
    2. It rewards Credit Card users for paying their bills on time.
    3. CRED Cash Loan provides an instant credit line.
    4. CRED members can access up to Rs 5,00,000 of credit without paperwork or physical visits.
    5. Members can check their pre-approved limit on the CRED app.
    6. They can request any amount from the pre-approved limit at any time.
    7. The requested amount is disbursed to their bank accounts within minutes.
    8. Repayment options range from 3 to 36 months with a competitive interest rate.
    9. Interest is calculated on a reducing balance basis decreasing as the principal is repaid.
    10. CRED Cash Loan offers rewards, no processing fees, prepayment penalties or late payment fees, and members can earn CRED coins for timely payments, redeemable for discounts and access to other services if they have a minimum credit score of 750.
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    Pros and Cons of CRED Cash Loan


    1. Convenient Bill Payment: Users appreciate the ease of paying Credit Card bills through the CRED app. It centralizes bill management making it quick and simple to pay multiple bills in one place.
    2. Rewards Program: CRED offers a rewards program that incentivizes timely bill payments. Users can earn various rewards such as free memberships, discounts and cashback, encouraging responsible financial behavior.
    3. User-Friendly Interface: Many users find the app’s interface user-friendly, responsive and helpful in managing Credit Card spending. The app provides notifications, alerts and personalized tips for optimizing spending and maximizing savings.
    4. Cashback and Cashback Verification: Some users appreciate the cashback benefits provided by the app and the feature to verify the statement for bank charges.
    5. Loan Features: The option for loans and the absence of foreclosure charges in the case of CRED cash loans are seen as advantageous. The ability to opt for a Mint fixed deposit with a decent interest rate is also a positive point for some users.


    1. Credit Score Impact: Several users have reported a decrease in their Credit scores despite paying EMIs on time, which has raised concerns and dissatisfaction among users. There is a lack of clarity on why Credit scores are dropping even when payments are made regularly.
    2. Customer Service: Users have expressed frustration regarding the lack of customer support including the absence of a customer care phone number which makes it challenging to resolve issues or seek assistance.
    3. Biased Targeting and Offers: Some users perceive the app as biased towards individuals with good financial status. They find the rewards or offers provided by the app to be of little value or not beneficial making the points earned seemingly useless.
    4. Hidden Charges and Fees: Certain users have mentioned high processing fees and additional charges associated with loans such as processing fees and insurance which seem substantial compared to the loan amount.
    5. Limited Control and Flaws in App Functionality: Users have expressed dissatisfaction with the app’s functionality such as the inability to easily remove linked data or having limited control over certain aspects, leading to a perception of the app being flawed or ineffective.
    6. Negative Experiences: There are reports of users experiencing harassment through repeated phone calls for payments, even after settling their dues, leading to a negative user experience.
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    Performance and Quality Evaluation of CRED Cash Loan

    The CRED Cash Loan service provided by the CRED app has elicited mixed reactions and experiences from its users. Reviews of the service range from ecstatic praise to vehement dissatisfaction. To evaluate the performance and quality of the CRED Cash Loan, let’s dissect the feedback and experiences shared by users:

    Positive Aspects:

    1. Efficient Credit Card Management:

    Several users have commended CRED for streamlining Credit Cardbill payments. The app offers a user-friendly interface for managing multiple Credit Cards and making payments, allowing users to handle bills efficiently in one place.

    2. Rewarding System:

    Many users have highlighted the rewards program as a significant benefit. Users receive rewards ranging from free memberships to various establishments and even cashback, simply for responsibly paying their bills on time. These rewards add an extra incentive for users to engage with the app.

    3. Timely Notifications and Alerts:

    Users have appreciated the app’s feature of notifying them about due dates, bank charges and offering cashback. This functionality aids in keeping track of Credit Card statements and payments, ensuring timely settlement and helping avoid missing payment due dates.

    Negative Aspects:

    1. Decrease in Credit Score despite Timely Payments:

    Some users have reported a decrease in their Credit scores even after making timely payments. This issue raises concerns about the impact on Credit scores especially when payments are made as per schedule.

    2. Customer Service and Technical Issues:

    Several users have expressed dissatisfaction with the lack of customer support. Issues like pending transactions without proper resolution, the inability to contact customer care and technical glitches detract from the overall user experience.

    3. Limited Benefits and Offers:

    Some users criticized the limited or unappealing offers and benefits provided through the app’s rewards system. This perception affects the perceived value of the reward points earned.

    4. Loan Fees and Lack of Support:

    Users who have taken loans from CRED have highlighted processing fees, insurance costs and high interest rates. Additionally the absence of customer support or a responsive helpline has been noted as a significant disadvantage.

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    What is CRED Cash Withdrawal Issues

    Some members may face issues while withdrawing money from their CRED Cash limit. This could be due to various reasons such as:

    • The member’s bank account details are incorrect or not updated on CRED
    • The member’s bank account is not compatible with UPI or IMPS transactions
    • The member’s bank has imposed a limit on the number or amount of transactions per day
    • There is a technical glitch or network error on CRED or the member’s bank
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    What Is CRED Cash Interest Rate

    The interest rate for CRED Cash loans varies from 12% to 18% per annum depending on the member’s Credit score, repayment history and other factors. The interest rate is also displayed up front before the member confirms the loan amount and tenure.

    The interest rate is charged only on the outstanding principal amount and not on the initial loan amount. This reduces the effective interest rate over time as the principal amount decreases with each EMI payment. The interest rate for CRED Cash loans is also inclusive of all fees and charges such as processing fees, GST, etc. There are no hidden or extra charges involved in availing or repaying a CRED Cash loan.

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    What Is CRED Personal Loan Eligibility

    CRED Cash loans are pre-approved for eligible members based on their Credit score and card usage. The eligibility criteria for CRED Cash are as follows

    • The member should have a minimum Credit score of 750
    • The member should have paid at least three Credit Card bills using CRED in the last six months
    • The member should have a minimum monthly income of Rs 25,000
    • The member should not have any overdue or pending payments on their Credit cards or other loans
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    Is CRED Cash Foreclosure Charges Applicable?

    There are no foreclosure charges for CRED Cash loans. Members can foreclose their loans at any time before the end of the loan tenure without paying any extra fees or penalties. Foreclosing a CRED Cash loan can help the member save on interest charges and improve their Credit score. Read Article Nira Personal Loan App real or fake.

    Is CRED Cash Loan Safe to Use

    CRED Cash loans are safe to use as they are offered by CRED which is a trusted and verified Fin-Tech app that has over 7.5 million members and partners with over 30 banks and NBFCs in India. CRED also has a high level of data security and privacy protection for its members and does not share their personal or financial information with any third parties without their consent.

    CRED Cash loans are also regulated by RBI guidelines and follow all the legal and ethical norms of lending in India. CRED ensures that its members are aware of all the terms and conditions of the loan agreement and do not face any difficulties or harassment during the loan repayment process.


    CRED Cash Loan offers a convenient way to manage Credit Card bills and access instant credit with its efficient bill payment system and rewarding features. But concerns about Credit score impact, limited customer support and perceived limitations in rewards should be addressed to enhance the overall user experience.

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    FAQs related to Cred Personal loan

    Q.1 Can we close CRED cash loan early?

    Yes, you can close your CRED cash loan early by paying the outstanding balance in full. However, you may be charged a prepayment penalty, which varies depending on the lender. To check your prepayment penalty, please refer to your loan agreement.

    Q.2 Can I Get Cash from CRED?

    Yes, you can get cash from CRED by withdrawing from your CRED Cash balance. CRED Cash is a reward currency that you earn by paying your Credit Card bills on time through CRED. You can withdraw your CRED Cash to your bank account or use it to pay for goods and services at select merchants.

    Q.3 Is CRED Cash Discontinued?

    No, CRED Cash is not discontinued. You can still earn and redeem CRED Cash as usual.

    Last Updated on 7 months

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      Vishal Kumar

      Vishal is a content writer who writes articles on various topics and is currently working as a writer on loan, banking, and business related financial topics on LOANPANDIT website. Vishal works to explain financial concepts to the readers in a very simple way through his attractive and informative articles. Their goal is to empower people to make financial decisions.

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