We have studied the dependence of impurity vs. band effects in the appearance of inverse giant magnetoresistance (IGMR) in Cu/Fe superlattices whit Cr. Current in plane (CIP) and current perpendicular to the plane (CPP) geometries are considered. For the calculation of the conductivities we have used the linearized Boltzmann equation in the relaxation time approximation. Cr impurity effects are taken into account through the spin dependent relaxation times and the band effects through the semiclassical velocities obtained from the LDA calculated electronic structure. The larger the Cr/Fe hybridization strength, the bigger is the tendency towards IGMR. In particular, in CIP geometry roughness at these interfaces increases the IGMR range. The results are compared with experiments and we conclude that the experimental GMR curves can only be explained if Cr bands are present.