Can it be falsely elevated? Yes: according to this study, creatine in the bloodstream peaks between 1 and 3 hours after consumption, depending on the form in which it is consumed.
Is it possible that taking creatine harms the kidneys? Maybe. There have been reports of kidney damage as a result of taking creatine, but small-scale controlled trials of typical performance-enhancing doses (1, 2) do not show problems.
If you want to know what sort of shape your kidneys are in, don't take creatine before a blood test. The above-mentioned pharmokinetics study says that a 28-day waiting period will return your muscle creatine levels to baseline values; 8-24 hours is sufficient for your blood creatine levels.