What It does: CRED is a club that specializes in motivating and rewarding its members concerning payment of their credit card bills. They offer exclusive offers and rewards to members who pay their credit card bills when due. This members-only club also allows its members to manage several cards and conduct credit analyses to determine their credit scores.
Mission: CRED's mission is to help individuals with high credit scores have a good life. They aim to reward good behaviour towards bills payment for encouraging creditworthiness among individuals across the country.
Size and Presence: CRED has over 900 employees across its various locations.
Best Known For: They are best known for encouraging and rewarding good financial behaviour. Thanks to CRED, more individuals are willing to pay their credit card bills on time. CRED has significantly contributed to improved creditworthiness among individuals in India.
The Good Bits: Good work-life balance, an excellent place to work, and sound employee welfare.
The Not So Good Bits: The work environment is quite competitive.
CRED is an Indian Fintech firm established by Kunal Shah in 2018. It's a very young organization. Three years after its inception in Bangalore, CRED has successfully onboarded almost 6 million users and facilitated roughly 20% of the entire credit card bill settlements in India.
In April 2021, CRED had five products to offer to its members. They include CRED cash, CRED RentPay, CRED Pay, CRED Travel Store, and CRED Store. Later that year in August, CRED introduced a P2P (Peer to Peer) lending platform called CRED Mint. It was established to facilitate lending transactions between its millions of members and make profits from it.
The founder of CRED, Kunal Shah, prefers to refer to CRED as a TrustTech organization instead of a FinTech company. His desire to rectify trust issues in Indian society motivated him to begin CRED. He believes a bond of trust is essential to financial prosperity.
CRED's organizational culture is good for freshers. This is because they can learn through the experiences of their job roles and from more experienced colleagues. The company has a supportive work environment that encourages growth if one is serious-minded and has a trajectory in mind.
The company's efficient delivery of service is proof of its team spirit. Team leaders and managers consistently train their employees to be at their best for the company and their clients. The environment is also positively challenging as employees are tasked to do better. This helps freshers cultivate the ability to work under pressure.
As a FinTech company, CRED has numerous career opportunities for fresh graduates. The supportive work environment creates ample room for career growth in this organization.
The hiring process is conventional. The first step is application. Once the company reviews and approves applications, selected candidates will get a call from HR. Next will be the interview phase, and successful candidates will be offered jobs at the company.
The average annual salary of a fresher in CRED is 3.00 Lakhs and above.
In August 2021, CRED donated dry ration kits to financially challenged areas that were devastated by the COVID-19 pandemic. The goal was to provide a million meals for such areas. Thanks to the support from CRED's members, they surpassed the goal and donated over 1.2 million meals to those communities.
According to news reports, Kunal Shah, the founder of CRED, caused a stir on Twitter when he said that remote working (working from home) is doing more harm than good for the workforce. He stated that absence from work premises would result in a lack of networking skills and the ability to build bonds with people.