How to pay your monthly rent via credit card on CRED

CRED lets you pay rent directly on its app which also comes with rewards.

| Updated on: Jun 05 2020, 19:18 IST
Cred rolled out its ‘RentPay’ feature this April.
Cred rolled out its ‘RentPay’ feature this April. (Cred)
Cred rolled out its ‘RentPay’ feature this April.
Cred rolled out its ‘RentPay’ feature this April. (Cred)

CRED recently rolled out a feature that lets users pay their monthly rent from their credit cards via the app. Like other services, paying rent via CRED will give users reward points and they can also enjoy the interest-free credit period.

CRED is also working on introducing an auto-pay option for timely payments. There are multiple platforms through which users can pay their monthly rent. But for those who plan on using their credit can try RentPay on CRED.

How to pay rent via CRED

Open the app and select ‘RentPay'

Enter the rent amount that needs to be paid.

Then select ‘Proceed with credit card'.

Enter your landlord's name and add their bank account or UPI details.

Then enter your own address and select ‘Proceed to payment'.

Do note that there will be a transaction fee between 1% and 1.5% for rent pay on CRED. The amount will depend on the user's credit card network. For example, if the rent amount is 21,000, then service charge of 315 which includes GST will be applicable.

But on paying the credit card bill users will get CRED coins equivalent to the transaction value of rent. These CRED coins can be used to spend on products, services and experiences available on CRED partners.

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First Published Date: 05 Jun, 08:09 IST