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How I Got Addicted to CRED Loyalty Program

Updated: Mar 19

I got my first credit card in 2017 when I bagged a full-time role from that of an intern at my first startup.

It was a Kotak Mahindra Bank credit card and honestly, as soon as it entered my wallet, it joined my fancy cards club.

Meaning, I used it as much as I used my salon and other discount cards until one day when I simply decided to check my credit score.

The credit score that I saw on Policybazaar wasn’t very pleasing. So I decided to start using my credit card for two reasons:

  1. Don’t you love to see your bank account balance when your salary is credited but not so much after you’ve paid your bills? For similar reasons, I wanted to see a higher and better credit score

  2. For future loan eligibility purposes

Determined to improve my credit score, I started using my Kotak credit card till it finally reflected a good score in June 2019.


After this, I started working on two most important parameters that affect credit score -

  1. On-time payments

  2. Credit utilisation

Now back then, utilising credit was not really an issue for me as my credit card limit was low. It was the on-time payments that I struggled with since I tend to ignore emails and SMS.

I mean, obviously, I’d pay them eventually by going to my Kotak Bank app but it wasn’t that convenient.

2 years later, I was introduced not just to a convenient but also reward-based credit card payment app - CRED.

How I met CRED?

I installed CRED in November 2020 after one of my friends almost forced me to get the app. CRED benefits were clear to us but more than that, he was excited to use CRED referral program and receive a referral reward of up to ₹1000.

So I ended up installing the app but little did I know I was going to get addicted to it.


CRED Made Me Do It!

My journey with CRED started with paying on-time, quick and seamless credit card bills and from there, I’ve come a long way.

In March 2020, I made a purchase using my CRED coins and you know what? It was more of a want-based rather than a need-based purchase.

So who made me do it? Devil? No, it was CRED’s excellently crafted loyalty program.

Here’s how I became a part of the CRED loyalty program.

1. Hoarding CRED Coins

Stating the obvious, every time you pay your credit card bill, CRED provides you with coins that you can use to claim rewards like cash back or offers from top brands.

The more coins you have, the better reward you can claim and this got to my head. I literally started hoarding coins by following my ‘spend more, pay more and hoard more’ rule.


2. Making my first CRED purchase

Fast forward to March 2022, all I’d done was pay my credit card bills, collect coins, go through the shop section, get fascinated by how coins offered discounts on top brand items and close the app.

Since I’d done this way too much, one day I decided not to let my hoarded coins sit and stare at me and ended up making a purchase of anti-blue light computer glasses.

Why? Because by using 2000 CRED coins, I was able to get Intellilens computer glasses worth ₹2999 for ₹660.

That’s it, a reason as simple as that. Plus of course, they looked cool.


3. Playing CRED Cash back Jackpot

This has been fun. Almost everyday, I’d go to my CRED app and play a daily jackpot to see if I could win a reward for the day. Even if I didn’t, I’d end up getting some of my coins back or a cash back.


Now, I look forward to not just earning coins with CRED credit card payment but also use them to play daily challenges and shop.

So why did I get so addicted to using CRED? It’s because CRED has beautifully mapped their reward strategy with the 4 key elements for a successful customer loyalty program.

Key Elements of a Successful Loyalty Program

1. Brand Personality

CRED loyalty program is an extension of their brand personality. As a fintech app, they know that their customers pay credit card bills hoping to get either cash back or CRED points and vouchers to be able to further redeem for offers.


2. Member Exclusivity

Throughout my relationship as a customer with CRED, it has ensured that I feel acknowledged for my additional effort in coming back to their app.

One simple way to do this is by keeping me updated via communications on all the ways I could use my CRED coins to win exclusive rewards.

Another way in which CRED rewards me for maintaining my trustworthiness and creditworthiness is by offering CRED cash which I can use to get money into my account within minutes without any documentation.


3. Multi-Engagement

Remember how I gradually became addicted to using the CRED app? It’s because they kept me hooked with various engagement points such as offering rewards in the form of both cash back and top brand vouchers.

This was via referral programs, daily jackpot and prediction quiz.

However, every time I go to their rewards section, there’s one thing that gets me both excited and curious and that is mystery rewards. Here, I can use 3000 coins to either spin a wheel or unlock a surprise reward.


Apart from this, CRED also runs CRED Bounty offer wherein you can pick a friend and win rewards.


4. Relatable Content

Content can make or break any loyalty program as it’s all about building a personal relationship with the customer and making them feel exclusive. CRED has already done it well as you can see how I’m going all gaga over their loyalty program.

Wrapping Up

Based on my experience as CRED’s loyal customer, I can say that they did a good job because they were consistent with me, and offered both variable and valuable rewards.

Plus not to mention, they used gamification which made it fun for me as a customer to do mundane tasks like paying bills.

If you’d like to explore how you can build an end-to-end loyalty management system and design a gamified loyalty program, Flyy’s loyalty program solution can help.



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