Fintech unicorn CRED has raised the stakes in India’s premium credit card market with the launch of Sovereign, an invite-only 18-karat gold credit card, and the new CRED IndusInd Bank RuPay Credit Card designed for digital-first consumers. Meticulously crafted with intricate guilloché engraving, the credit card is positioned by founder Kunal Shah as a rare privilege—one that most people will “probably not see” due to its highly exclusive, invite-only access.

Partnership with IndusInd Bank for RuPay Credit Card

Alongside Sovereign, CRED also rolled out the CRED IndusInd Bank RuPay Credit Card. Since only banks are permitted to issue credit cards in India, CRED partnered with IndusInd Bank for issuance, while it manages the marketing and distribution under a co-branded model.

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Rewards Designed for Freedom

Unlike most co-branded cards that restrict benefits to specific platforms like Amazon, Flipkart, Swiggy, PhonePe, or Paytm, the new RuPay card promises flexibility. Cardholders will earn 5 percent rewards on all e-commerce transactions and 1 percent rewards on offline and UPI spends via CRED Scan and Pay.

Every point is equivalent to one rupee and can be redeemed instantly at checkout across multiple categories. Redemption options include over 500 CRED Pay merchants, 2,000 products on the CRED Store, flights via ixigo, and more than 8 lakh hotels through Expedia.

“Freedom, Not Forced Loyalty”

Explaining the philosophy behind the launch, Shah said the card addresses a fundamental gap in India’s credit card market. “All the cards were going in the direction of saying, ‘Work with this merchant, work with that merchant.’ But consumers want freedom. This card is about rewards that follow taste, not terms,” he said.

He highlighted that consumer behaviour has shifted, with 60–65 percent of card spending already moving to e-commerce, compared to 25–30 percent just a few years ago. “The new generation of creditworthy customers wants to explore a wide range of brands, not be tied to forced loyalties,” he added.

Zero Joining Fees & Quick Digital Onboarding

The lifestyle-oriented RuPay card comes with zero joining fees and a seamless two-minute digital onboarding process. IndusInd Bank stated that the product is positioned to attract India’s growing segment of affluent, tech-savvy consumers.

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From Bill Payments to Fintech Leader

Launched initially as a credit card bill payment platform, CRED has since expanded into diverse financial services. Today, it is India’s sixth-largest UPI app and one of the most recognised fintech players, catering to millions of creditworthy users.