The verdict: attractive numbers, weak redemption
5% on a lifetime-free card sounds great, but it’s Kredit.Pe cashback, not statement credit. You spend it on vouchers, gold or travel inside the app, where premium voucher fees and redemption charges cut its value. Not recommended as a primary cashback card.
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Fits if: you want a free RuPay card for UPI and already buy the vouchers, gold or flights Kredit.Pe sells.
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Skip it if: you already have a card with straightforward cashback, or you buy vouchers at good discounts elsewhere.
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What would fix it: letting you adjust cashback against the card bill at full value, with no extra fees.
Earn rates at a glance
As advertised by Kredit.Pe. Cashback is on eligible transactions only, and lands as Kredit.Pe cashback.
| Cashback | Where, and the limit |
|---|---|
| 5% | Online and offline spendsMonthly cap and merchant exclusions not published yet |
| 3% | UPI, up to ₹20,000 a monthThrough Kredit.Pe UPI. Another UPI app may not earn the same |
| 5% | UPI above ₹20,000 a monthHow the 5% tier is worked out isn’t clear yet |
| 5% | Gold and silverOn eligible purchases |
| 0 | Spends above your credit limitThe promo says no cashback on monthly spend beyond the card limit |
| Eligible spend a month | ₹5,000 | ₹10,000 | ₹20,000 | ₹30,000 | ₹50,000 |
|---|---|---|---|---|---|
| Advertised cashback | ₹250 | ₹500 | ₹1,000 | ₹1,500 | ₹2,500 |
On UPI: ₹10,000 at 3% earns ₹300 of Kredit.Pe cashback.
Up to ₹1,000 to start
- Joining bonus
- ₹500For eligible new cardholders, subject to activation conditions.
- Welcome bonus
- ₹500After 10 eligible online transactions at eligible stores within 90 days of activation.
- Paid as
- Kredit.Pe cashbackNot cash to your bank account, so it’s only worth what you can redeem it for.
The catch: redeeming the cashback
You can’t take the balance as statement credit at face value. Kredit.Pe points you to gift vouchers, gold, travel vouchers and other offers, and two charges can apply on shopping vouchers.
- Redemption charge
- About 1–2%, up to 4%Around 1–2% on lower-discount gift cards; up to 4% on higher-discount ones.
- Premium voucher charge
- 1%, on premium vouchersAmazon, Flipkart and other vouchers marked premium. On top of the redemption charge.
| Voucher value | ₹1,000 |
|---|---|
| Cashback applied | − ₹60 |
| Premium voucher fee | + ₹20 |
| Redemption charge | + ₹10 |
| You pay | ₹970 |
| Actual saving | ₹30, half the ₹60 you used |
Redemption options today
| Cashback | Vouchers |
|---|---|
| 4% | Amazon Shopping, Amazon Pay |
| 5% | Flipkart, Blinkit, Zomato, Croma |
| 7% | Myntra, Instamart, BigBasket, Swiggy, Decathlon, District |
| 10% | Nykaa, Uber, JioHotstar, FirstCry, BookMyShow, AJIO, Max Fashion, Reliance Trends |
| 20% | EatSure, MakeMyTrip Hotels, GIVA, Tata CLiQ, Apollo Pharmacy, Lenskart, Bata |
| 30% | Domino’s, ZEE5, PVR, Amazon Prime |
A voucher discount isn’t your return on card spend. That depends on how much cashback you use, the fees and how much you have to buy to redeem it.
You may lose other rewards too
The rest of the voucher’s price may have to be paid through a supported method, not your best cashback card. And you have to buy a voucher just to use the cashback.
Gold, flights and other limits
- Gold and silver
- Up to 7% off with cashbackThrough Augmont in the app. Count GST and the buy-sell spread. Paid from your cashback, so it isn’t an extra 7%.
- Flight vouchers
- Up to 20% off with cashbackCleartrip, MakeMyTrip, EaseMyTrip and Goibibo, subject to conditions. Not 20% off every booking; compare with booking directly.
- Expiry
- 1 year after the quarter endsKredit.Pe’s published policy: cashback lapses a year after the end of the quarter it was earned in.
- Redemption limits
- Per categorySome categories let you use only part of your balance.
- Where you can use it
- Kredit.Pe options onlyNot freely withdrawable. Voucher discounts, fees and brands can change.
Fees and charges
- Joining and annual fee
- ₹0
- Interest-free period
- Up to 50 days
- Finance charges
- 3.99% a month47.88% a year. Pay the full bill by the due date.
- Foreign currency
- 3.5% markup
- Redemption charge
- About 1–2%, up to 4%Higher on higher-discount gift cards.
- Premium voucher charge
- 1%On premium vouchers like Amazon and Flipkart.
Eligibility
From the Kredit.Pe application screens. Meeting these doesn’t guarantee approval.
| Age | 21 to 60 years |
|---|---|
| Salaried | Net monthly salary ₹25,000 or more |
| Self-employed | ITR above ₹7.5 lakh |
| Approval | As per YES BANK’s credit policy |
Quick answers
Is it lifetime free?
Yes, no joining or annual fee. Other card charges and redemption charges can still apply.
Is the 5% credited to my card statement?
No statement credit has been confirmed. Kredit.Pe promotes redeeming it in its app.
Does Kredit.Pe charge for voucher redemption?
Yes. A redemption charge of about 1–2% on lower-discount gift cards, up to 4% on higher-discount ones, plus a 1% premium voucher charge on vouchers like Amazon and Flipkart. Check the final amount in the app before you redeem.
Is the cashback really worth 5%?
You can earn 5% on eligible spends, but what you get out is lower after charges, limits and the extra buying needed to redeem it.
Does the cashback expire?
Yes, one year from the end of the quarter in which you earned it.
Is there a monthly cashback cap?
Not confirmed. The Max card’s promotional details available so far don’t state one.
Sources
- Kredit.Pe: official websiteOfficial (opens in a new tab)
- Kredit.Pe: cashback expiry policyOfficial (opens in a new tab)
- Kredit.Pe: voucher return policyOfficial (opens in a new tab)
- TechnoFino: Kredit.Pe cashback redemption charges discussionCommunity (opens in a new tab)
Earn rates, the introductory cashback, fees and eligibility come from Kredit.Pe’s promotional material and application screens. Today’s redemption options and charges are as seen in the Kredit.Pe app on 24 October 2026 and can change. The voucher example uses illustrative fees. Check the final charges in the app before redeeming. This is an independent review, not financial advice or a Kredit.Pe or YES BANK endorsement.