If you are interested in knowing the financial aspects and incomes, you can anytime download their financials from MCA, to get a better idea.
Itโs a credit limit given to you based on your credit score, similar to a credit card, but not one. So how can you add extra money and then utilise it for making payment elsewhere? You cannot top-up your credit card account.
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I just pre-paid Rs 1 to my bullet account and it accepted. So my credit limit became Rs 6501. So technically it seems to be working.
You can. I had accidentally done it once. Made a double payment of my credit card bill my mistake and then noticed that the extra amount was added to my card limit which I utilized next month when I did some shopping.
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Oh is it? Technically it seems to be working, as excess payment has been done and it will reflect in your account as a balance. So maybe you can use it further. So i guess now you can shop for 10k using Bullet.
The thing happening in credit card is, your outstanding due becomes negative as you made payment when nothing was due. You are not increasing your credit limit. So for the next month, the excess amount paid would be shown as an increased limit and it wont be forever.
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Hay jiten while opening account with bullet there was some errorโs coming it says unable to onboard you. pH 9839731549
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Hay @Jiten please reply I am unable to onboard on bullet it says argh something went wrong even my brother got onboarded I have Experian credit score of 821
You are not eligible to be on Bullet thatโs why you are getting this Massage.
You are only thinking from your perspective, but unfortunately Bullet isnโt charity if thatโs something you were thinking it is.
Bullet doesnโt earn anything when you do a UPI Transaction (well as far as I know, they canโt).
With Simpl, they are partnered with merchants and merchants pay significant fees, sometimes as much as 6-7% to Simpl, this is also the case with any non-upi based pay later fintech apps. Simpl can afford to pay MDR fees and still be profitable. Merchants pay Simpl those hefty fees because pay-later services improve conversion by as much as 100%. With Bullet UPI, you can pay at your local kirana store with credit but you canโt do so with Simpl. This flexibility is what you should accept as loss of reward points.
You can still be smart in earning reward points. My Bob Credit card pays me full fat reward points (1.25%) for Payzapp loading but only 0.25% with Mobikwik or PayTM. Good luck figuring another way for reward harvesting!
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