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.
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Is CRED a scam?
- Thread starter theglobalinvestor
- Start date
AritraSaha
TF Prestige
I am totally agree with you. I am just saying that how the vc & founders make money even if the company balance sheet is all negative.
maheshspanicker
TF Premier
While Cred is no longer attractive in terms of rewards, think its still a decent credit card management app. Customizable notifications, capturing unbilled transactions and so on. And while their travel deals are absolutely useless, the store can sometimes give you some very good deals, at much better rates than Amazon or Flipkart, even for those who would have the ICICI or Axis cobranded cards with the platforms. So Rewards and travel utterly useless, UPI and store decent.
And I got a recent feedback mail from them, with a few questions on insurance. Think they might be planning to step in to selling vehicle insurance next up.
And I got a recent feedback mail from them, with a few questions on insurance. Think they might be planning to step in to selling vehicle insurance next up.
I wouldn’t call it a scam from the end user perspective. Granted that coins are near useless but even the nominal cashback we get is something. Also their scan and pay is decent, convenience of all cards in one app and offer details. I have never shared my actual email for statements etc. Just use it for card payments and scan/pay. Been a member since late 2018 and have got cash back of over 25K ₹ till date.
Founders can make money, (secondary sales/over the top salaries etc) from CRED.
How on earth will VCs make money from a loss making company, with barely a path to profitability, let alone justifying >$1B valuation.
CRED is now ditching their USP (top 1% of india's consumers), and becoming a me-too app (UPI+bill payments+BNPL).
They are becoming a me-too app because they can't figure out making money from what they aimed for.
Paytm/gpay/mobikwik, all offer these services.
UPI+bill pay+cc pay is a commodity service, with no differentiation, no lock in, and almost no value add for user.
Just because it is a similar app doesn’t make it a scam. We feel obliged to get huge benefits out of nothing and if it doesn’t work out we start bad mouthing companies. Similar state with the ongoing Axis Magnus saga. I just felt the title of this thread was misleading/click bait. We are free to use any app or card we like. Choice is ours end of the day.
CRED is a scam for investors, not users.
www.technofino.in
Is CRED a scam?
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
www.technofino.in
Sudip
TF Premier
curious, has anyone won any jackpot (777 on spinny wheels) till date?
also cred, IMO I don't see it as scam, till the time my credit card bill payments are done timely (primary purpose of using cred), anything above that ie. cashback, voucher, etc is an add-on.
also cred, IMO I don't see it as scam, till the time my credit card bill payments are done timely (primary purpose of using cred), anything above that ie. cashback, voucher, etc is an add-on.
viru5678
TF Select
The real CRED SCAM is getting access to your emails and collect data which can be used.
There is a concern of data privacy. CRED seeks permission to access your email account to view your email messages for analysing your spending behaviour and credit card statements.
Please be aware that CRED has access to your emails and this can be dangerous.
There is a concern of data privacy. CRED seeks permission to access your email account to view your email messages for analysing your spending behaviour and credit card statements.
Please be aware that CRED has access to your emails and this can be dangerous.
You are right. They take access to alert your billing due. However cred is scam as they control 777 not once has itncome always nil or 2 77s with nowadays 1 rs cashback even if u pay 60 to 1lakh card payment. Cred is become convienece and their coins are useless u cant offset it for card payment as cash. No value forn4heir coins
Yes, access to emails is a huge concern. And that's what may be used for selling you stuff even if data is not sold to third parties.
doraemon
TF Legend
In start they gave good offers to me as well
I joined credit 2 month ago
When my credit score built
I got around 200 cashback till now+1 free hamper from them
Now getting ₹3 almost alternate days in jackpot spins
Overall I used them for cc payments in case due date is around the corner
As they settle fastest
doraemon
TF Legend
Data sharing is too common nowadays
Cred is also a company and they too want to survive in the market
Every company is sharing some sort of data
That's a fatalistic attitude. Akin to saying so many are getting scammed, so don't bother if you get scammed too.
Not everyone shares data. Your bank cannot share data by law.
Neither does your bank ask for access to read your email.
The point being: If you use services like CRED of CheQ to get some measly cashback, you give them access to your data. You think you've got a few rupees but they are making far more by leveraging your data (even if they don't sell to third parties). And you are opening yourself to a lot of spam calls and worse too. If users knew this before they signed up for CRED or CheQ, most would avoid them like the plague. Yeah, I know about T&Cs, but most users don't bother.
don't give access.. it is an option..
doraemon
TF Legend
You can easily remove the permission from app settings which u think are not needed
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