What's the deal with CRED?

All the cool marketing and UI/UX aside I find myself wondering what's up with Cred? Here are my questions, knowledgeable product folk or better yet people from Cred or who worked at Cred can you please help with the following questions (and associated complaints) 1) What's the point of the store anymore? The brands are actually far less premium than they're made out to be. Plus you don't get access to exclusive products. 2) The reward system is just sad now, why have they changed the logic and reduced the monetary rewards so much? What were just PLG features like earning cashback for referrals is a voucher now plus the Rs. 1 cashback is just insulting at this point. 3) I used cred cash once and I'm not going to need much more. But I'm wondering if you're catering to the top 1%, do they really need liquidity at 9% interest? 4) Cred Mint seems like a worthwhile proposition, however the returns are only marginally better than the best FDs out there. Also if they're partnering with Liquiloans, which primarily lends to other startups, isn't that risky? How will they guarantee returns if someday Liquiloans goes under?

https://www.linkedin.com/feed/update/urn:li:activity:7153989522811215872/ Now that Cred Coins have some value, looks like only the grapes 🍇 are running far behind! #iykyk

All of those useless jackpots, Grand Finale’s etc and what not! Nobody wins I’m sure. The names also are put on each of the items on Grand Finale contest after hours and not instantly. Pointing to the fact that winners are fake and not determined within each hour for each item. The only pros of CRED is the payment for shitty bank credit cards that have poor UI. The biggest cons? Selling our data to places we’re unaware of! One of the Reddit posts mentioned that as soon as he uninstalled cred and communities them to delete his data, he stopped getting Bajaj Finance spam calls! Too much coincidence? (Aside: Heck, even Zepto once had an offer of winning an iPhone when buying Vim, was that also legit? These app based promos don’t bring the trust as much as offline retail channel promos)

Cred is truly a topic of surprise for me. Yes, I understand it has created a community of top spenders/credit worthy people in India. I also understand that they can use the information on such people for creating value for themselves. Being a cred user, I only use it to pay the bills. I really wonder if they have built any b2b business or alternative source of income beyond what's seen to the end user. What's the game plan for the cred? I also applaud the fact that cred hasn't laid off people having paid them better than most companies. I really wonder if the business is really that strong or the conviction is. Would you join cred if given a chance to work there?

https://www.youtube.com/watch?v=fE0frCNDccQ&ab_channel=CRED

I fail to understand why people hold cred in such high regard. So much promise, so much advertising, yet no real value for the customer. Their UI is a mess honestly. Takes so much effort to navigate that hell of a musuem that mr shah has built to masturbate upon. They started as a company that helped people pay credit card bills, now asking the same people to do UPI with “assured” cashback “upto” gimmicks. Ending up making india’s top 1 percent population play stupid arcade games to win a mind boggling 1 rs. 👏👏👏 Cred store doesn’t draw any value any more. The much advertised cred garage failed miserably. Why the hell and what the hell are they for? No real value man. They take so so much information from us. And li tell make no value for the user. Bhai kam se kam ek bhadiya credit card hi bata do spends analyse karke jisse logon ke thode zyada paise bach jayein.

- So after raising millions of dollars for "innovating in fintech", CRED has decided to get into the centuries old business of lending - The main company has burnt investor money mainly to build out distribution but no product. - Now when they decided to get into lending, Kunal Shah acquired an NBFC where he personally owns approx 80% stake and CRED owns 20% - Through this NBFC, CRED gives out their loans on BNPL products. Now Kunal Shah wants to slowly sell the rest of his stake to the main company CRED - Except the NBFC is worthless without CRED's distribution. And CRED is worth a lot less without any product and Kunal Shah holds only 12% equity in the main cash-burning loss-making company after all those dilutions in funding rounds. - By making CRED acquire this NBFC at inflated valuations where he owns majority stake, he's gonna personally cash out once again while CRED will still have a long journey ahead of them. How are the CRED investors ok with this?

How many cred coins you guys have?