Now Pay Rent and get Rewarded with CRED RentPay | Benefits Decoded

We are currently going through a time when most of the people are one way or the other is experiencing a shortage of liquid cash. In my case, since the lockdown began, my BP shoots high when every month, my landlord hints me about the rent. But thanks to CRED, it has come up with yet another feature called 'RentPay.' RentPay facilitates you to get the rent instantly credited directly to the landlord's bank account using your Credit Card or UPI. 

INTERLINKED ARTICLE: Guided Steps for paying rent on CRED RentPay | Tutorial with Images

With 'RentPay,' you can also avail hosts of benefits such as:

Reward Points Up To 3.3%

- RP directly depends on your credit card points structure. Generally, the more premium the credit card variant, the higher the reward rate.

-     For example, say your rent is 20000/Month, and you use SBI Elite Credit Card for paying this value. 

-      SBI Elite offers you 2 RP per 100 Rupees spent. So you will get 20000 / 100 * 2 = 400 RPs. 

Each RP for SBI Elite is valued at 0.25 Paise. Hence, you will save 400 x 0.25 = 100 INR per month and 1200 INR per year. A return rate of 0.5%.

-    Likewise, HDFC Regalia Card will give a return rate of 1.34%, and HDFC Infinia will provide a return rate of up to 3.3%. Now you know why it's written 3.3% ;)

Reach Milestone Quicker

→ If you pay using a credit card, which offers you a milestone benefit as well. Say you pay 20000 rent per month; it makes up 240000 per year. So, obviously, it will help you to reach the milestone of the card you use. 

→    For example, On spending 2.5 Lacs on Axis Privilege Credit Card per year, you get 2 Paytm Travel Vouchers worth Rs.2,500 each as Milestone Benefit. That's an easy 5000 bucks!

Credit Leverage for Up To 45 Days

→      Suppose you pay with your credit card at the beginning of your statement cycle. In that way, you can get credit leverage for up to 45 days, including the grace period.

Earn CRED Coins & Redeem Rewards

→       Obviously, when you pay with your credit card, you will have to settle your credit card bills. Paying your credit card outstanding amount via credit will give you an equal amount of CRED Coins, which you can redeem against a host of products & services. 

→       Click here to know more about CRED Coins.

➤       CHARGES

→       If you choose to pay with UPI, you pay nothing, it's free. But I suppose if somebody decides to pay with UPI, they can directly pay through and any other UPI app available in the market such as PhonePe, Paytm UPI, Amazon UPI, etc.

→       If you pay using your credit card, you have to pay a Payment Gateway Charge of 1.65% only. I think this charge is very nominal and quite competitive as well as cheaper when compared with other players in the market such as Payzapp, Paytm, who charge you anything between 3 to 5 % charge when your transfer fund to a bank account through credit card.

I paid just Rs 314 when I paid rent of Rs 19000. Thanks to CRED, my BP is now in control ;).

CRED RentPay Charges

If you have any questions, just drop your queries in the comment section. I try to reply to all of them to the best of my capabilities.

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