CRED a credit based rewards app in India which serves users with a credit score of 750+ at the moment. We see that they are into a continuous “Refer and Earn” program which has existing members refer in new users in which they in return earn some cashback and the new users also get incentives. The referral reward structure is very much a moving target based on what CRED’s latest plan is.
These results are subject to change but reports also show that we see a range of up to Rs 1,000 for the referrer which in turn may give as high as Rs 250 to the invited.
Step-by-Step: How to Enroll and Earn in CRED App.
Here is what you do to refer cred app your friends and start earning rewards:.
- Open up the CRED App on your phone which is running either Android or iOS.
- Tap the “See All” button or find out the “Refer Earn” option which is in the Explore or home section.
- Tap on Share or Invite through WhatsApp to share your unique referral link.
- Click on the contact and send out the pre-filled invitation.
- Ask that your friend install CRED with your referral link, sign up, and to put in his first credit card or utility bill payment.
Once a new user makes the required payment, both of you are enrolled in for cashback. The host will get cashback (as mentioned which varies see above) and the invited usually gets in at a rate of Rs 250.
To get your cashback go to the Rewards section in the app and tap “Claim” on eligible offers.
How to Refer & Earn in the CRED App
Invoker has to be a verified CRED user.
- Invite in customers that have a score of 750 or higher, are over 18 years of age, and which fit our CRED criteria.
- The min payment to qualify is of usually ₹500 for credit or utility bills; at times ₹1,000 based on the offer.
- Referral links can also be of limited use with the average lifespan being 48 hours.
- Within 14 days of the referred account’s first payment, cashback will have to be claimed.
Always see the latest details in the app’s in app Terms and Conditions.
Rewards Summary Inviter and Invitee.
- Invitee: After making their first eligible payment you get ₹250 back. (May vary by campaign).
- Inviter: Cashback values go up with each referral: e.g., from ₹200 to ₹250 to ₹350 to ₹500 per referral. Some campaigns put forward as much as ₹1,000 for a referral.
Ways to Increase Your Referrals’ Earnings.
Start early with your referral link. The more quickly your friends use it once they have it, the better your chance at getting those time sensitive offers.
- Prompt for early payment of the minimum due.
- Monitor your referral progress in the app which also has a referral leaderboard in some of its versions and a status tracker.
- Integrate referral programs with other promotions like seasonal campaigns for greater reward (eg. special festive bonuses or leaderboard prizes).
- Present creative messages we put in value for both inviter and invitee which in turn will increase conversions.
Sample Case.
If you bring in four friends which in turn sign up and pay the required amount, for the 2024 reward structure we have:.
- 1st referral: 200 rupees.
- 2nd referral: Rs. 250.
- 3rd referral: Rs.350.
- 4th referral: 500 INR.
- → Total earnings: Rs.1,300.
At present each friend gets a cashback of ₹250 (which is the typical invite reward).
Important Notes.
- Cashback values are subject to change CRED sets new referral bonuses at a regular interval. Check the current offer within the app.
- Rewards are given to those that meet CRED’s criteria which includes certain credit score requirements you included.
- Referral links do wear out pay attention when you share them as once they expire you stop earning cashback.
- Cash back redemption is different for some which will see immediate credit to account in the app and for others you will have to manually claim it.
Conclusion
The CRED Refer Earn program which is a great way to get cashback out of which your friends also get to experience a premium, rewards based credit card payment app. As an existing member you can earn between to 200 to 1,000 per successful referral which varies by scheme. Invitees usually get 250 on making their first eligible payment. Main steps are to share via the app, get your friend to sign up and make a payment and to claim your cash back as soon as you can.
