In India, many BNPL (Buy Now Pay Later) apps have been released, and individuals are looking to take advantage of the financing options.
However, because Indians rarely use Credit, they typically have abysmal credit ratings.
By enabling users to establish Credit simply by making payments through the app, Astu Credit seeks to address this issue.
Users can raise their CIBIL score without opening a new bank account or getting a loan.
Consider using this software to improve your Credit after checking it out.
How do Astu Credits work?
An Indian start-up named Astu Credit is supported by significant venture capital firms like Titan Capital and Samyakth Capital. This website’s only goal is to help people improve their credit scores.
To raise your credit score, we cooperate with essential credit bureaus, including Experian, CIBIL, CRIF, and EQUIFAX.
Instead of opening a new bank account, Astu Credit enables consumers to make payments through the Platform, improving their credit score. Additionally, the app provides some promotions and savings.
Characteristics of Astu Credit
Features and benefits of Astu
Astu Credit is currently developing and hasn’t yet begun to roll out all of its features.
However, we’ll go through the program’s features and how to use them effectively.
An improved credit debit card
Astu gains ground
The most novel aspect of Astu Credit is its ability to assist you in raising your credit score using a debit card.
You did hear correctly. Conduct a transaction using the app’s Platform or a debit card that Atu will soon release.
According to Astu, your credit score will rise within three to six months if you keep using its trading platform. Pay your utility bills.
Aston Credit Utility Bill Payment
Utility bill payment is made simply by Astu using the Platform.
The partner’s NBFC will receive the payment information, and the transaction will be transferred. Additionally, each of these payments raises the user’s credit score.
You can pay for petrol, utilities, insurance premiums, and other expenses through the site.
Verify your credit rating (coming soon)
On Astu, you may also check your credit score. Astu Credit will issue a soft request against your credit history when you input the necessary information (soft requests will not affect your credit score).
However, the Platform has not yet made this feature available.
The area titled Cashback up to 10D44Astu Credit Rank
You may streamline your transactions and raise your credit score by using Astu’s services.
That’s not all, though. Additionally, the user is eligible for up to 10% cash back on all purchases for the first three months.
Connect to your current bank account
If you believed that using Astu credits would generate a brand-new account for the service, you were mistaken. Atsu works with your current bank accounts, unlike other financial apps.
Just connect your Astu Credits account, and presto. Following that, you can improve your credit score by conducting routine business without taking out any loans or borrowings.
How does that function?
Astu How does it function?
To assist consumers in raising their credit scores, Astu Credit collaborates with some of the largest credit bureaus in the world, including Experian, CIBIL, Equifax, and CRIF.
It will be credited to your platform bank account. Your bank account is automatically debited when you use the Platform to make a payment.
The specifics of an event are kept on the Platform when a user completes a transaction on his Astu platform. All transactions conducted throughout the month are processed after one month, and reports are forwarded to the credit bureaus.
The user’s financial transactions are then evaluated by these credit bureaus and added to their credit history. As a result, consumers’ credit score gradually rises as their credit history continues to expand over time.
You will notice a rise in your credit score over three to six months.
This eliminates the need for you to obtain any loans, credit cards, or other forms of Credit to raise your credit score. In addition, it is a risk-free method that is safe.
Pros
- a friendly user interface
- 127 banks are compatible with the Platform.
- Current offerings and Cashback for users
- The users’ debit card
- provides users with good security and privacy
- does not need payment
- Offers the top users 10% cash back on every purchase for three months.
- You can raise your rank and cashback allowance by introducing your friends and family.
- Verify your credit rating.
- Transparency in all business dealings
Cons
- The application is still being developed.
- Works exclusively with invitations. Not every user is qualified to access their services right away.
- There are thousands of users, but it restricts the services available to new users by only providing credit enhancement to the top users.
- A drawback of the Platform is that the credit score feature has not yet gone online.
My Opinion
Speaking of Astu Credit’s functions and features, it represents a true revolution in the credit industry. However, if we carefully examine the Indian population, most people still have little faith in credit institutions. The result is that most people have bad Credit.
But it can be improved simply by making payments through the app seems like a game changer.
Astu promises users a lot but has yet to roll out debit cards. So it’s hard to tell if it works smoothly.
I encourage readers to sign up for the Platform if they ask me.
Astu Credit is backed by giant VCs such as Titan Capital and Samyakth Capital, giving it credibility.