A Cred user from Delhi took to X to share that he received ₹1 after paying a massive credit card bill through Cred - a Bengaluru-based fintech company. Gurjot Ahluwalia, who writes about equity, personal finance and money hacks on social media and works for Accenture, expressed his disappointment and said that he will “pay directly from bank portal” in the future.
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This decision comes after he paid a credit card bill of ₹87,000 through Cred and received “maha cashback” of ₹1. He also said that now is the “time to stop sharing data with Cred”.
Take a look at the post below:
After the post was shared on May 13, it has received over 6.5 lakh views and numerous likes. Many even flocked to the comments section to express their views.
Check out a few reactions to this post:
{{/usCountry}}After the post was shared on May 13, it has received over 6.5 lakh views and numerous likes. Many even flocked to the comments section to express their views.
Check out a few reactions to this post:
{{/usCountry}}“Worst part is they continue to pull data even after you have deleted all cards from the account and even your account!” posted an individual.
Another added, “Should have done that a long time ago. For peanuts, they are pulling your data and selling it to Fintech lenders, etc., and I hope you didn’t allow the email access, which they insist on so vehemently.”
“Did that over about 1.5 years ago? Rewards were worthwhile only in the beginning, and then they reduced the cash burn,” said a third.
A fourth commented, “Stopped it a while back. Pretty useless app now.”
“Stopped it two years back! Useless app,” wrote a fifth.
Cred was founded in 2018 by Kunal Shah, who also serves as the company’s CEO. The company not only allows users to pay credit card bills but also lets them pay their house rent and provides short-term credit lines.
According to the company’s website, when a member makes a credit card payment through the app, they become eligible for various rewards such as access to events, experiences, gift cards and more.