Fintech News Bytes

I am confused… :confused:

From credit cards to garage? Is it a physical garage or virtual garage for maintaining your car - insurance, etc?

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I think it’s the Virtual garage (probably a dedicated section on the app) for tracking expenses like fuels and repairs and also for insurance policies reminder and all.

Ah! So they have road side assistance and all.

So most probably a subscription service.

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The website looks really cool :hushed:

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There’s no doubt that this concept is useful and surely its gonna be a huge success.
The 3D vehicle models also appear impressive (saw in several Twitter posts)

Meanwhile, some other reactions :joy:



I think this is more like a virtual garage, and then you can pay your car insurance bills, RSA bills, purchase extended warranties through them. They will cross-sell. Anyway, they mentioned that they are building a community to monetize it later.

Go through Kunal Shah’s podcast on “The First Principle” to get more insights on Cred

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Even I received 2421 cred coins and a voucher for 500 off my next flight [for not receiving a challan]. This is a great validation of my driving habits.

I will always be indebted for this awesome gesture.

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That’s interesting…

500 off flight voucher is great. But cred coins? Not so useful.

I think Cred should just get rid of cred coins. :face_exhaling:

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I should give it a try then. :v:t2:
I haven’t received any challan so far. :grin:

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If one can easily get 1,000 off from bank offers on any website, then how good is 500 off :confused:

They had a bat mobile :joy:. Nice promo :zap:
Cards to cars

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Got access! You can feed in all your vehicle details to the CRED app to let it check for the expiry dates of your insurance, pollution etc. and renew it from there. Also, recharge your FASTag.

You get ‘rewarded’ CRED Coins in the process! :stuck_out_tongue_winking_eye:

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Their/AA’s or insurance API is broken, or something in between. It’s not able to fetch insurance in my case; I also confirmed with one of my friends the same issue.

O


On a lighter note :joy: :joy: (from X)

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I could see so many users mentioning various mismatches on X.
Insurance related issues and wrong challans top the list

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Interesting that HDFC does not reflect in the top 5 card issuers

@yagnesh01 Even with their HDFC-Swiggy card, they are not in the top 5 for the first time in a long time.This, either means their tactical strategy didn’t clicked or their underwriting is bad.

Real-life example: I applied for a Neu card last month, and after 10 working days, I received an email informing me that I needed to download the form provided by them and courier it to a Chennai office along with the necessary documents. Instead of doing this exercise, I went to IDFC, applied for Power Plus, and received my digital card the following day.

Sad state of HDFC.

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See the ‘monthly card added’ spike in the month of march :joy:.
BTW hdfc is missing :neutral_face: