Creatine can help in building strength but I am curious if it benefits fatloss as well.
There is very little to no evidence that creatine helps with fat loss. Its main use is to increase power output.
Examine.com has a pretty extensive list of all the stuff creatine does. The one section regarding fat states:
Creatine reliably increases lean mass (water at first, then muscle with more prolonged supplementation) but does not appear to significantly alter fat mass.