5 Things to Know About the Cred.ai Credit Card

Overview of Cred.ai Credit Card

Cred.ai is a credit card company that made its debut in 2019, offering credit cards with no fees and unique cashback rewards. Their goal is to provide a credit card that is transparent, reliable, and easy to use, while also offering an innovative rewards program. Here are five things to know about the Cred.ai credit card.

No Fees

Cred.ai offers a credit card with no annual fee, no transaction fees, no balance transfer fees, and no foreign transaction fees. This differs from most credit card companies that charge some sort of fee. Cred.ai makes their profit by charging merchants a lower fee for accepting their credit card than what other credit card companies charge them.

Cashback Rewards

Cred.ai offers a unique cashback rewards program that allows you to earn cashback on select categories that change each month. They have a “Top Spender” program where the top three spenders of the month can earn up to $2,000 in cashback. They also have a program called “Cashback for Life” where you can earn 1% cashback on every purchase you make with Cred.ai.

App-Only Features

The Cred.ai credit card is app-based, meaning that all transactions, customer service, and rewards tracking are managed through their app. They offer app-only features such as a virtual card number for online purchases, touch ID login, and a one-click freeze card option in case your card is lost or stolen. The app also allows you to see your spending by category, set notifications for specific spending limits, and provide a credit dashboard with personalized credit advice.

Instant Approval

When you apply for a Cred.ai credit card through their app, you receive an instant decision on your application. This means that you can sign up and start using your card within minutes. Cred.ai does not require a credit check since they base their approval on factors such as your income and spending habits.

Security

Cred.ai places a strong emphasis on security. They offer 256-bit encryption for data transfer and storage, two-factor authentication, and a virtual card number for online purchases. They also offer real-time transaction alerts and push notifications for account activity.

FAQs

How do I apply for a Cred.ai credit card?

To apply for a Cred.ai credit card, you must download their app from the App Store or Google Play Store. Then, follow the prompts to sign up and provide the necessary information such as your name, address, and income. You will receive an instant decision on your application.

What is the interest rate for the Cred.ai credit card?

The interest rate for the Cred.ai credit card varies based on factors such as your creditworthiness and spending habits. It can range from 10% to 30%.

Are there any fees associated with the Cred.ai credit card?

No, Cred.ai does not charge any annual fees, transaction fees, balance transfer fees, or foreign transaction fees.

What types of rewards can I earn with the Cred.ai credit card?

Cred.ai offers a unique cashback rewards program that changes each month. You can earn cashback on select categories, and they have a “Top Spender” program where the top three spenders of the month can earn up to $2,000 in cashback. They also have a program called “Cashback for Life” where you can earn 1% cashback on every purchase you make with Cred.ai.

Is the Cred.ai credit card secure?

Yes, Cred.ai places a strong emphasis on security. They offer 256-bit encryption for data transfer and storage, two-factor authentication, and a virtual card number for online purchases. They also offer real-time transaction alerts and push notifications for account activity.

Can I freeze my Cred.ai credit card if it is lost or stolen?

Yes, you can freeze your Cred.ai credit card through their app. This will prevent any further purchases from being made on your card until you unfreeze it.

Does Cred.ai offer balance transfers?

Yes, you can transfer balances from other credit cards to your Cred.ai credit card. They do not charge any fees for this service.

How do I earn cashback with the Cred.ai credit card?

To earn cashback with your Cred.ai credit card, you must use your card to make purchases in the select categories for that month. You can earn up to 10% cashback on these purchases.

Can I set spending limits on my Cred.ai credit card?

Yes, you can set spending limits on your Cred.ai credit card through their app. You can also set notifications for when you are approaching your spending limits.

Does Cred.ai offer a sign-up bonus?

No, Cred.ai does not offer a sign-up bonus for their credit card. However, they do offer unique cashback rewards that can be earned each month.

What happens if I miss a payment on my Cred.ai credit card?

If you miss a payment on your Cred.ai credit card, you will be charged a late fee. This fee can range from $15 to $35 depending on the balance of your account.

Can I use my Cred.ai credit card internationally?

Yes, you can use your Cred.ai credit card internationally. They do not charge any foreign transaction fees, and you can use your card anywhere that accepts Mastercard.

What credit score do I need to apply for the Cred.ai credit card?

Cred.ai does not require a credit check for their credit card. Instead, they base their approval on factors such as your income and spending habits. However, having a better credit score may increase your chances of getting approved.