CRED, a fintech known for its reward-based credit card payments app, is now facing the fury of its customers. The problem was a Glitch in its jackpot reward facility! And customers have bombarded the fintech with complaints on social media platforms like X handler.
How did things turn ugly for this fintech?
Multiple people on the Cred platform won the jackpot and the amount was over Rs 3 lakh, varying from customer to customer. Some customers received Rs 3,12,000 jackpot, while some won a Rs 3,25,000 jackpot.
However, upon winning the jackpot, customers were asked to give PAN card details to pay for the TDS rate on the winning amount.
But, that is not exactly what happened! Soon after, these customers received a call from the Cred team informing them that they were cancelling the jackpot because of some technical issue, and they were crediting back the coins along with a gesture of Rs 1,000 cashback.
This has led customers in a flurry, as they tagged Cred, complaining about the glitch and their services. One user via X handler said, "Cred screwed up big'.
Aviral Sangal, a user on X said, "Even though I usually do not fall for the CRED_club jackpots, but yesterday I just played the friday jackpot without having any hope of getting anything meaningful. But I scored the JACKPOT and it wasn't a small one. It included a Macbook, iPad, Airpods Max and a TUMI bag worth INR 3.25L."
Sangal added, "I filled out the form to receive the items and they took my PAN to pay the TDS on the jackpot. BUT few minutes back I get a call from Cred team that they had to cancel the jackpot because of some technical issue and they crediting back the coins and good will gesture INR 1K cashback."
Furthermore, Sangal revealed that upon another call from CRED this more in depth. He said, due to a 'BUG', there were 200 users who won the Jackpot. He said, "They decided to cancel the Jackpot instead of pausing, fixing the bug and honoring the 200 odd users who already won." He lastly said, "I have made my stand clear that CRED needs to honor the reward or else I do have my legal options available to me. I will keep you posted."
Another user, Nikunj Thakkar who is a chief barista said, "It seems like CRED_club screwed up big time yesterday. Multiple people won the jackpot (probably the first time in the history) and they've cancelled the jackpot. They're offering 1K cashback for a 3.12L worth of jackpot."
While another customer complained that he did not receive any email, sms or any other confirmation despite winning the jackpot and submitting his PAN details.
He said, "Played the jackpot and got this coupon. Redirected me to a website where I was asked to fill all the details and submit my PAN and photo. Post this no email, sms or any other confirmation. So am I winning anything? Should I start celebrating already?."
Terms and Conditions On Rewards:
As per the terms and conditions guidelines, CRED may contact winner(s) via email or residential address for delivery of the prize(s). By participating, the Participants agree to provide their email ID, residential address and PAN details to CRED. The Participant agrees that their details may be shared with the vendors and other personnel for the purpose of making the prize available to them on behalf of CRED. CRED shall not be responsible for any incorrect delivery information provided by the Participant for the delivery of the prize(s).
Also, CRED shall endeavour to deliver the prize(s) within 30 days of receipt of all relevant information/ consent from the winner(s). By participating, the Participants consent to the use and display of their name, photograph, usage of the CRED App, which may be used on the CRED App and/or CRED's social media for promotional purposes. CRED shall be the sole and exclusive owner and author, in perpetuity and on a worldwide basis, of the intellectual property rights and derivative rights with respect to such promotional content and shall not be required to obtain any further consent from or provide any compensation to the Participant. The winner(s) shall be solely responsible for any TDS implications related to the prize(s).
Notably, CRED reserves the right to disqualify any Participant and choose a new winner if any instance of abuse, fraudulent or suspicious activity is detected with respect to their use of the CRED app or participation in the Reward Program.
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