CRED

 

CRED 

1. Founder : Kunal Shah 
2. Spoof on CRED

Features

1. Simple and clean way of consolidating all credit card bills
1. UPI based - few click payment
2. CRED Points
1. 1point for 1Re - cred card payment
3. CRED Loans - 14.5% ( 1.2 % per month ) 
4. CRED mint - park your liquid money and get 9% ( best effort ) powered by P2P lending 
1. Criticism
1. It looks like MLM ( Multi level Marketing ) 
2. Cheap Chit fund
2. Alternative P2P lending platforms
1. Lenden Club
5. Access to 2 Credit bureaus - 
1. Experian
2. Crif Score
6. CRED
1. Payment of monthly RENT
2. Education Loan

UTILITY

1. Not good ROI - your data ( Payment, purchase, type of cards, credit limits, Credit scores ) for simple, clean, reminding UI - Coins are crumbs on the table for successfully mining of financial data.
1. Alternatives 
1. Having standing instruction in the Bank account
2. Some bank accounts also provide points
3. Some apps like Amazon, Paytm provide payment and reminder options

Important

1. CRED knows your spending patterns
2. It gives some discounts 
3. Common issues
1. Accumulated CRED points accumulated 
1. use the to get CASH Back 
2. pay for O2 during Covid Crisis
3. Buy Raffel tickets - for Iphone or something like that
4. Not great offers till now 
5. Initially Swiggy , Zomato offers
2. 
   
4. DEACTIVATE CRED Account
1. in app customer support - deactivate