Is CRED a scam?

[theglobalinvestor]

Has anyone won anything more significant than ₹3-5 in cashback? Like they have some slots jackpots for laptops, iphones, etc. And the winners are never listed or announced anywhere afaik.

 

[funatlearn]

You wantedly pay 1k ? For this cb?

Didn't got you. I paid bills and got 1k cashback once. Recently cashbacks have dropped.most of my cashbacks are from previous years

 

[funatlearn]

How much you pay cc bill montly ?

80 k fixed, (2-3 k to 50 k additional depending on adhoc expenses). i registered on redgirrafe on 2018. Looking at payzapp patch, that will stop now( around 25 k, 30 k to continue if no charges from hdfc)

Apart from rent payment, my expenses are around 30-40 k per month that goes on cc.

 

[MOhit __]

Do you guys get spin notifications from CRED? I haven't received notifications in 5-6 months, therefore I've always missed those 2 days of cashback.

 

[4uziaul]

Do you guys get spin notifications from CRED? I haven't received notifications in 5-6 months, therefore I've always missed those 2 days of cashback.

Agar bhej denge toh daily ka nuksaan nahi hoga Mera toh aaj kaal pehle din ka spin ke baad next din show nahi hota hai agar galti se kabhi yaad aa gaya toh 🤣

 

[plastikman]

Agar bhej denge toh daily ka nuksaan nahi hoga Mera toh aaj kaal pehle din ka spin ke baad next din show nahi hota hai agar galti se kabhi yaad aa gaya toh 🤣

Mujhe ek baar 103 Rs mila tha ek card payment pe ! Nothing significant otherwise 😁

 

[4uziaul]

Mujhe ek baar 103 Rs mila tha ek card payment pe ! Nothing significant otherwise 😁

Pakka IT team ka next din salary kata hoga 🤣

 

[moneyMaker]

can we automate payments of CC bills? anyone using payzapp for that?

 

[ismail]

i deleted my account on cred

 

[Anil_Singh]

Has anyone won anything more significant than ₹3-5 in cashback? Like they have some slots jackpots for laptops, iphones, etc. And the winners are never listed or announced anywhere afaik.

Once upon a time.

 

[MOhit __]

Once upon a time.

View attachment 24071

Thank you, CRED spin yaad aa gaya, got 65 rs. 😅

 

[rohitpgarg]

Yes, CRED is a scam.

But they are not scamming you, they are scamming their investors.

For users, they give nothing, they take nothing, so not a scam.

For investors, they have raised 100s of millions of $, and have nothing to show for it.

They still don't have product market fit, because they don't have a vision of a product.

 

[neo.puneet]

I'm using CRED since Feb 2019 and in 2019, they used to give 1000rs cashback randomly, i got it 3-4 times, i used to split the bill into 1k payments and used to get 15-20 scratch cards for 15-20k payments. Total cashback is 11,324 rs till now but most of them are from 2019. Even my friends and family members got 1k cashback back then. 😀

 

[AritraSaha]

Yes, CRED is a scam.

But they are not scamming you, they are scamming their investors.

For users, they give nothing, they take nothing, so not a scam.

For investors, they have raised 100s of millions of $, and have nothing to show for it.

They still don't have product market fit, because they don't have a vision of a product.

1-2 years later they will launch the ipo(with crazy high valuation , super high p/e ratio)afterwards the vc will dump all the share into the public after the lock-in period.
-almost every Indian startup story.

 

[Tejo]

1-2 years later they will launch the ipo(with crazy high valuation , super high p/e ratio)afterwards the vc will dump all the share into the public after the lock-in period.
-almost every Indian startup story.

Ipoh for utility bill payments service provider?

 

[AritraSaha]

Ipoh for utility bill payments service provider?

Well paytm have done that.

Cred might launch some new product, build some hype.

 

[Tejo]

Well paytm have done that.

Cred might launch some new product, build some hype.

It's bill payments provider + bookings+ monile wallet + payments bank + payment aggregator + merchant service providers + ads, promotion.

Via partnership :- (because it's just payments bank)
Pay later, loans, credit card

 

[Tejo]

Well paytm have done that.

Cred might launch some new product, build some hype.

That cred founder sells it like freecharge.

Sorry : but this is the reality.

 

[AritraSaha]

It's bill payments provider + bookings+ monile wallet + payments bank + payment aggregator + merchant service providers + ads, promotion.

Via partnership :- (because it's just payments bank)
Pay later, loans, credit card

Cred -
1. Bill payment
2. UPI
3. Ecom (not compatative)
4. P2P (mint)
5. Loan ( don't know the name)
6. Travel booking.
And i think kunal shah have some plan to new product as well

 

[rohitpgarg]

There are a bazillion apps doing what cred is doing.
0 differentiation, lot's of very low margin businesses. CRED is just a Jack of all trades.

 

[maheshspanicker]

Way back in 2019, I once got Rs 1000.
Cashbacks these days aren't worth it much, I pay some of the bills now on Paytm. Tried Mobikwik a couple of times and Amazon every now and then. Must say Cred has been the fastest in terms of crediting to card.... The coins surely are just a joke!
Use Cred UPI some times when there is no chance of card payment, and this is a good time to use it as they are trying to capture market. Don't get much offers on GPay/PhonePe/Paytm/Amazon these days and I've had a bad experience with Mobikwik UPI. So use Cred more often than not.
But I've slowed on that and returned to GP/Paytm of late, as I am using my Rupay card on merchant UPI transactions. Hope Cred would soon have the ability to support Rupay CC on UPI.