A Little Extra is Good
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Used to get the spin the wheel thing everyday, but it seems that is no longer available. Anyone else experience the same?
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Has Cred stopped giving daily cashback?
- Thread starter A Little Extra is Good
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I am making a call here . A BIG call.
CRED will be slowly but surely will become part of history... I don't see any future prospectives in their chosen business line.
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guptarohan
TF Buzz
For me it is still there - if you click the reward section and once you pay your bill. But for the first time today, the cashback I received today from Cred was INR 1. Never has it happened before - the minimum cashback from spin the wheel till now was atleast INR 3.
I think that cred funding is down a lot and i am also getting only 1-2 rs max for 5 spins.
Sure, from customers perspective... it is ok... Technology wise ok...
but their business plan is not sustainable and not working out the way they want.. It is certainly to be doomed.. only a matter of time.. unles they revamp their whole business model which I think not that easy... hence my call... Its GONE...
make the hay while the sun still shines... before the sunset...
Don't expect much..
they are shifting to p2p lending and paylater and loans model
they havent been able to grow it quickly like paytm to mitigate the losses
they havent been able to grow it quickly like paytm to mitigate the losses
Its already fully crowded... no space to breath...
They have now a big database of "sort of high value customers" but don't know what to do with that database.
Except this they got nothing... Unfortunately... Plan was good , execution failed miserably...
Cred was promoting timely payments and full repayment so i think the customers they've acquired aren't needy per se
Yes..
In my view the real reason is:
the majority of the Indian customers ( even though they are very wealthy) are very price sensitive... that is there in the Indian blood..
This guy wanted to build a market place to sell the luxury goods to sort of HNI's ... unfortunately the Indian DNA ( whether rich or poor) defeated him ...
Look there are some really wealthy people who don't care for the price but those kind of people do shopping online occassionally.. They just spurlge money mostly offline.. Very few people have more spends via online... so the plan was a big flop....it didn't realize the way it was thought to be..
Making a new concept plan into reality is a very very difficult thing, there are so many untold failures and only a handful celebrated successes...
My two cents... there will be counter arguments to my case also... there will be always two sides of the coin... Still when you need to make a call you need to call.
and my call in this case : CRED GONE....
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A Little Extra is Good
TF Buzz
any idea if businesses like cred, paytm, mobikwik, etc. make money off credit card payments? like telecom operators pay a commission to intermderies...do credit card companies also pay anything to these companies?
from what i know bbps and billdesk get a commssion because of being an intermediary
not sure about payment apps
I use cred to track cc bill payments. Mark payment as done when I pay via billpay, mobikwik or idfc.
Addressed to everyone
This is the another use case, why CRED is not going to survive for long unless it changes the strategy
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