Now, with CRED as a key agent institution for Bharat Bill Pay System (BBPS), members can use the platform to make recurring payments on utility bills, including electricity, telecom, DTH, water and gas, education fees, municipal taxes, NETC FASTag recharge, loan EMIs, insurance premiums, subscription fees and mobile prepaid recharge, among others.
Here’s a roundup of the benefits of paying your bills through credit cards on CRED;
- One platform to pay all your bills: Paying your bills through credit cards on CRED allows you to manage multiple payments from a single dashboard or application. This reduces friction and increases convenience. Make mobile payments, pay your electricity bills, fee payments and a lot more in one go. CRED has extended its seamless bill payment experience to utility payments powered by BBPS too- which means you can now set reminders for all these bill payments and never miss a due date!
- Increase your creditworthiness: If you didn’t already get the memo, a credit score is necessary to determine how creditworthy you are. A good credit score can help you get loans easily, along with many other benefits. Making timely payments and paying your bills are necessary steps to undertake while building your credit score. Recurring monthly payments can help you build a healthy credit score over time.
- Leverage insights to make better financial decisions: Tools like CRED Protect and Smart Statements (if activated) help members track their card journey – with due date reminders, insights on spending patterns and other card usage statistics. By moving recurring payments to your credit cards, you can track and analyse spending- budgeting and managing your money wisely.
- Enhance liquidity by leveraging credit periods: Find yourself short of cash at the end of every month? Manage credit and liquidity better by moving recurring payments to credit, and benefit from the 45-day credit period offered. Further, using credit cards for more payments helps you accrue reward points, and platforms like CRED even provide you additional rewards and cashback- which can help you manage your expenses better and leverage deals and offers practically.
- Earn and redeem more credit card rewards: The most exciting aspect of using your credit card is redeeming rewards points across your purchases. With numerous credit cards and multiple sets of reward points- tracking which card holds the best rewards for purchase can become cumbersome. CRED has solved this by offering members insights on cards that hold the best rewards and which one you should opt for. This information is shared while members make purchases on the platform.
Below is a step by step guide to how you can make bill payments on the CRED app;
- Open the CRED app (if you are not a member you can download the app)
- Click on the ‘Pay’ tab at the bottom of the screen
- Add details of your recurring bills (utility, rent, maintenance etc) and other scheduled bills (education, FASTag)
- Use your linked credit card to seamlessly and securely clear the bills
- Set reminders for each bill payment, to receive timely notifications and never miss a payment!