GUIDE: How to apply for KreditBee Card?

KreditBee, one of the country’s leading digital money lending platforms has now entered the card business officially with the launch of their KreditBee Card. The idea behind this credit card is to provide credit to unserved and undeserved banking customers. The card provides these customers, quick and secured access to short-term liquidity with more than one payment option. Which eliminates the need to avail a separate loan for customers. KreditBee has partnered with RBL Bank and RuPay for the launch of the KreditBee Card. This will be a Virtual Credit Card by KreditBee.

KreditBee intends to offer this card to over 1 million users by the end of the financial year 2022. The KreditBee card is versatile and flexible in terms of repayment options and ticketing sizes. The customers can avail credit limit up to INR 10000 on this card, which they can repay within a single billing cycle not exceeding 45 days.

The KreditBee Card users can make multiple transactions within the credit limits(both withdrawal to your bank account or online purchases) while paying lesser charges than other cards. The KreditBee card has no hidden charges.

Eligibility Criteria for KreditBee Card:

Right now, the card is available for some selected customers only. To check if you are eligible for the KreditBee card, you need to log in to your KreditBee account in the KreditBee app.

How to get KreditBee Card?

Here are the simple steps, you need to follow to avail of the KreditBee Card:

  • Sign in to the KreditBee app.
  • Click on the KreditBee Card Button.
  • Select the Check eligibility option.

Important Points to Note:

  • Activating KreditBee Card will open a new credit line and it will be reported to CIBIL and other credit bureaus. If you repay your bills on time, it will gradually improve your credit score. Consequently, if you default, it will adversely affect your scores.

How to Activate your KreditBee Card?

To activate the KreditBee Card:

  • Open the KreditBee app.
  • Click on the Active Card button.
  • Fill in your bank details, read and sign the agreement.
  • You will get your Virtual KreditBee instantly.

You can find all your card details in the KreditBee app if the card is issued to you, after verifying your identity.

Benefits of KreditBee Card:

  • 100% Virtual Card: The KreditBee card is completely virtual. An e-card will be generated in the KreditBee app which can be used for transactions instantly.
  • Fast Access: The AI-driven underwriting process generates and issues the card immediately after successful identity verification.
  • Quick Credit Upgrades: Customers can avail of upgrades on their credit limit within a single billing cycle.
  • Safe and Secure: The Card is generated online in the KreditBee app and protected with an M-PIN.
  • No Hidden Charges: The KreditBee card has no hidden fees and charges. It is a 100% transparent product.

KreditBee Card Fees & Charges:

KreditBee Card Charges:

A one-time joining fee of INR 99 will be charged when the card is activated.

An annual maintenance fee of INR 149 will be charged after the first year of the card activation.

Other Charges:

  1. Withdrawal Fee: An withdrawal fee of 5-7% of the total withdrawal amount will be charged on each transaction while transferring an amount to your bank account. 
  2. Default Charges: INR 100 or 3% of the due amount(Maximum of these two)
  3. Late Payment Charges: 15% per day on the due amount.
  4. Amount rolled over to next month: 20-29.9% per annum, on the amount withdrawn till the date of the bill generation

For details click here.

Final Words:

That’s all about the KreditBee card. If you have any queries, feel free to ask in the comments below. Thanks for reading. Don’t forget to join our FinTalks Facebook Community for more updates on Banking and Finance. Also, join our Telegram Channel for getting the latest tech updates.

Anuj Kumar
Anuj Kumar

Anuj is a passionate blogger from Bareilly, Uttar Pradesh. Currently pursuing in Programming and Data Science from IIT Madras. Apart from being an avid learner and a tech enthusiast, he loves playing PC Games and likes to keep himself updated with the latest trends in the tech industry.

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