BENGALURU: Not only does Bengaluru-headquartered fintech unicorn
Cred
filter out poor credit scores in shaping its user base, but it also applies the same criteria when hiring employees.
Cred founder and CEO Kunal Shah, for the first time, publicly stated that the company hires only employees with a
credit score
of 750 or above, emphasising that maintaining good credit behavior is fundamental to its mission.
Shah said that good credit score behavior should be considered a default expectation among the affluent in India, adding that the country’s financial progress depends on individuals practicing responsible credit habits. “If they don’t do well, we cannot expect the country to become Viksit… We can’t live the mission unless we breathe it in every aspect of our life,” Shah told TOI on Tuesday during a series of product launches in Bengaluru.
He added that in cases where employees have little or no credit history due to their age, they are given three months to achieve a minimum credit score of 750. Cred, which focuses on rewarding creditworthy individuals, asks candidates for their credit scores during the hiring process as part of this approach. Employers checking credit scores remains a practice largely limited to the western world, where some companies, particularly in finance, insurance, and government roles, conduct credit checks as part of background screenings. In India, this remains uncommon.
At the event, Shah also announced Svalbard, a new suite of credit-focused features aimed at improving credit management for users. The offering includes a redesigned credit score experience that introduces predictive analytics to help users understand how their financial decisions may impact their creditworthiness. It also provides personalised goal-setting tools and a real-time dashboard tracking credit progress.
Additionally, the company has introduced a new credit card management system that consolidates multiple card statements, offers real-time tracking of spending patterns, and includes features designed to detect hidden charges. Another feature, Cred Cash+, allows users to borrow against their mutual fund holdings instead of liquidating them, with loans starting at 8.99% interest. So far, the company only had offered loans in the unsecured consumer lending space.
Shah said that the company’s latest offerings are intended to make credit a tool for
financial empowerment
rather than stress. He noted that while access to credit remains key for financial growth, many consumers remain hesitant due to concerns over complexity and the fear of making financial mistakes. The company said in a statement that it aims to address these concerns by simplifying credit management and offering tools to help users navigate their financial decisions with greater clarity.
