Best UPI Credit Card | Kredit.pe Credit Cards | LifeTime Free Credit Card

Summary

In this video, the speaker introduces two top UPI credit cards: the ACE Credit Card from Yes Bank and an FD-based card from SBM Bank, both available through the Kredit.Pe app. The video explains how Kredit.Pe allows users to earn cashback on UPI payments from linked savings accounts, and details the features of both credit cards, including cashback rates, reward points, and eligibility criteria. Viewers are guided on how to apply for and maximize the benefits of these cards, including how to redeem cashback for vouchers and other rewards. The video provides an in-depth look at these credit cards' benefits and how they can improve financial habits.

Takeaways

• 😀 The ACE credit card offered by Yes Bank is an unsecured credit card, while the SBM Bank Kredit.Pe card is an FD-based credit card.
• 😀 The Kredit.Pe app allows you to link your savings account and get 1% cashback on transactions made with merchants (excluding friends and relatives).
• 😀 You can also earn cashback by paying merchants using the Kredit.Pe app, even if you're not using a credit card.
• 😀 If you link your ACE credit card with Kredit.Pe, you can earn 2% cashback on UPI transactions, with no upper limit on the cashback.
• 😀 The ACE credit card offers additional rewards for online and offline shopping, with 8 reward points for online purchases and 4 reward points for offline purchases.
• 😀 The ACE credit card provides 2 reward points for utility bill payments, insurance, and government services, a rare benefit among credit cards.
• 😀 Yes Bank’s ACE credit card allows you to redeem reward points as air miles or vouchers, with 10 points worth approximately Rs. 1.
• 😀 The SBM Bank Kredit.Pe card helps improve your CIBIL score within 3-6 months by offering a credit limit based on an FD deposit.
• 😀 The SBM Bank Kredit.Pe card offers 2% cashback on UPI payments, 3% cashback on offline purchases, and 1% cashback on online shopping.
• 😀 Cashback from the SBM Bank Kredit.Pe card is stored in the Kredit.Pe wallet, where it can be used for discounts on brands like Amazon, Zomato, and Domino's, with varying discount rates.
• 😀 If you use your savings account rather than a credit card for payments, you'll receive less cashback, but the option to buy discounted vouchers remains available.

Q & A

What is Kredit.Pe and how does it work?

Kredit.Pe is an application that allows users to link their savings account and make UPI payments to merchants while earning cashback. It offers 1% cashback on payments made to merchants with a current account and has other features like card linking for additional benefits.

How does Kredit.Pe differ from other UPI apps like Google Pay or PhonePe?

Unlike Google Pay or PhonePe, Kredit.Pe offers cashback (1%) on payments made from linked savings accounts to merchants with current accounts, which is not available in traditional UPI apps. It incentivizes users to pay merchants rather than individuals.

How do I earn cashback using Kredit.Pe?

You earn 1% cashback on transactions made to merchants with a current account through the Kredit.Pe app. Payments to friends or relatives do not qualify for cashback.

What is the ACE Credit Card, and who is eligible for it?

The ACE Credit Card is a lifetime-free, unsecured credit card offered by Yes Bank. To be eligible, applicants must have a minimum monthly income of ₹25,000, a CIBIL score above 720, and be between the ages of 21 and 60 years.

How can I link the ACE Credit Card to Kredit.Pe?

After receiving the ACE Credit Card, you can link it with the Kredit.Pe app. This will allow you to earn 2% cashback on UPI payments made through the app, provided the card is linked and the payment is processed through Kredit.Pe.

What rewards and benefits come with the ACE Credit Card?

The ACE Credit Card offers 2% cashback on UPI payments through Kredit.Pe, 8 reward points for online shopping, and 4 reward points for offline purchases. Additionally, it provides a fuel surcharge waiver and rewards for spending on utility bills and government services.

What is the FD-based credit card from SBM Bank, and how does it work?

The FD-based credit card from SBM Bank is a secured credit card that requires a Fixed Deposit (FD) of at least ₹2,000. The card limit is 90% of the FD amount, and users can earn cashback on UPI and offline transactions, with 2% cashback on UPI payments and 3% on offline shopping.

What are the benefits of the FD-based credit card over the ACE card?

The FD-based credit card is available to individuals with a lower CIBIL score and offers guaranteed approval upon providing an FD. It also provides a higher cashback rate for offline shopping (3%) and a 2% cashback on UPI payments when linked with Kredit.Pe.

What is the importance of having an FD of ₹5,000 or more for the SBM Bank credit card?

Having an FD of ₹5,000 or more allows you to receive a physical credit card without additional charges. If the FD is below ₹5,000, you won't get a physical card and will have to pay a fee of ₹236 for the virtual card.

How can I redeem the cashback earned from the Kredit.Pe app?

Cashback earned through Kredit.Pe can be redeemed for vouchers from popular brands like Amazon, Zomato, Domino's, Swiggy, and more. Discounts of up to 24% may be available, and the cashback is stored in your Kredit.Pe wallet for easy redemption.