CRED IndusInd Bank RuPay Credit Card Review: The New Kid on the Block
CRED's first co-branded credit card with IndusInd Bank offers 5% rewards on e-commerce, UPI benefits, and instant redemption. Is it worth your wallet space?
CARD REVIEWSBLOG
ETS Team
9/22/20253 min read
The fintech unicorn CRED has finally entered the credit card game with its first co-branded offering. CRED has tied up with Indusind Bank to issue CRED IndusInd Bank RuPay Credit Card that was launched couple of days back, targeting India's digital-savvy consumers. But does this invite-only card live up to the CRED hype?
What Makes This Card Special?
CRED has designed this offering specifically for their ecosystem users - who already use the app for bill payments, shopping, and UPI transactions. The card runs on the RuPay network and integrates with CRED's digital platform.
The standout feature? It's one of the few cards that lets you use your credit card for UPI payments, making everyday transactions more rewarding. Plus, it's invite-only, so you can't just walk into a branch and apply.
In-Depth Reward Program Analysis
The 5% Sweet Spot
E-commerce transactions: 5 CRED Points per ₹100 spent
CRED ecosystem: 5 CRED Points per ₹100 on CRED Pay, Travel, Store, and UPI
CRED UPI Scan & Pay: 1 CRED Point per ₹100 (capped at 500 points monthly)
Utilities & Insurance via CRED: 1 CRED Point per ₹100
Everything else: 1 CRED Point per ₹100
Redemption Reality Check
CRED Points have two redemption values:
₹1 per point: Flights, hotels, CRED Store, and select CRED Pay merchants
₹0.50 per point: Credit card and utility bill payments within CRED
The catch? You can only use up to 70% of points for premium redemptions, while bill payments allow 100% point usage. Points expire after 24 months.
Monthly Caps That Matter
The 5% reward rate caps at 5,000 points per statement cycle. That means you'll earn accelerated rewards on spending up to ₹1 lakh monthly. Beyond that, you're back to 1% on everything.
Detailed Benefits That Actually Matter
UPI Revolution
The card lets you link your RuPay credit card to any UPI app. This means you can scan QR codes and pay with credit card benefits instead of your savings account. The setup takes just five steps through CRED or other UPI apps.
Total Protect Insurance
IndusInd's Total Protect program covers you for fraudulent transactions up to your credit limit. This includes unauthorised transactions up to 48 hours before you report a lost card and counterfeit fraud protection. It's essentially insurance that matches your spending power.
Fuel Benefits
Get 1% fuel surcharge waiver on transactions between ₹500 to ₹5,000 at all fuel stations across India. Not game-changing, but decent for regular drivers.
Fees and Charges Breakdown
The Good News: Zero joining fee
The Reality Check: ₹499 + GST annual fee from the second year
Other Charges:
Foreign currency markup: 3.5%
Cash advance: 2.5% (minimum ₹300)
Interest rate: 3.95% monthly (47.40% annually)
Late payment charges: ₹100 to ₹1,300 based on outstanding amount
Overlimit fee: 2.5% of overlimit amount (minimum ₹500)
Eligibility & How to Apply
Who Can Get This Card?
This isn't your typical application process. The card is invite-only for select CRED members. The bank likely looks for:
Active CRED app usage
High credit scores (typically 750+)
Significant spending on digital platforms
Age: 21-65 years
Minimum income: ₹20,000 monthly (standard IndusInd requirement)
Application Process
Wait for an invite in your CRED app
Complete the 2-minute application process within CRED
Submit standard documents (PAN, Aadhaar, income proof)
Get approval and card delivery
No branch visits required - it's completely digital.
Who Should Get This Card?
Perfect for:
Heavy CRED app users who pay bills and shop regularly
Online shopping enthusiasts spending ₹20,000+ monthly
UPI power users wanting credit card benefits on digital payments
Tech-savvy individuals comfortable with app-based banking
People wanting a simple rewards structure without complex categories
An Ideal User: Someone spending ₹50,000 monthly on e-commerce and CRED ecosystem transactions. They'd earn 2,500 points monthly (worth ₹2,500 for travel bookings), effectively getting 5% back.
Who Should Avoid This Card?
Skip if you:
Rarely use the CRED app or prefer offline shopping
Want premium benefits like lounge access or concierge services
Spend heavily on excluded categories (rent, jewellery, education fees)
Prefer flexible redemption options across multiple platforms
Are looking for your first credit card (invite-only restrictions)
Reality Check: If you're not already a regular CRED user, this card's benefits won't make much sense. The rewards are too ecosystem-dependent.
Final Verdict & Blog Recommendation
The CRED IndusInd Bank RuPay Credit Card is a decent entry-level rewards card for the CRED faithful. The 5% e-commerce rewards are competitive, and UPI integration is genuinely useful. However, the ecosystem lock-in and modest benefits beyond rewards make it feel limited.
Bottom Line: It's a solid choice if you're already deep in the CRED ecosystem and get an invite. For everyone else, cards like HDFC Millennia or SBI Cashback offer better flexibility and similar reward rates without platform restrictions.