CRED’s Unique Hiring Policy: Why 750+ Credit Score Is A Job Requirement ?

Are you aiming for a job at CRED? If so, having an impressive resume alone won't be enough, you will also need a high credit score.

Recently, Kunal Shah, CEO of the Bengaluru-based fintech startup, introduced a unique hiring policy that requires candidates to have a minimum credit score of 750 or above to qualify for a job at CRED. This unconventional requirement reflects the company's core philosophy of promoting responsible financial behaviour.

At an event, Shah explained the rationale behind this policy, emphasizing the importance of practicing what they preach. He stated, "If you are building products that are going to drive responsible financial behaviour, we have to live it first. We can't be driving this when we ourselves don't live up to this promise".

Shah further elaborated, saying that, "I would love to make (the threshold) to 800, but a lot of people are starting their careers early on. They cannot achieve 800 - they need credit age to be able to achieve that. But 750 is something that we want to ensure. And a lot of people who want to join and don't have a score, they have three months to get that done, and we actually help them actively to achieve that."

He acknowledged that low credit scores are not always intentional, and in 80-90 per cent of cases, individuals are not even aware of the factors affecting their score. Many times, people discover unfamiliar loan accounts on their credit reports, affecting their creditworthiness. By helping candidates dispute inaccuracies, CRED ensures they get a fair chance at employment.

While this hiring practice is rare in India, it is common in developed nations, particularly in industries that handle sensitive financial data. In these sectors, employers conduct credit checks to ensure potential employees align with their company's financial ethics and responsibility standards.

Why is a Good Credit Score Important for Recruitment?

A good credit score is not just about securing loans and credit cards, it also reflects an individual's financial discipline and reliability. Companies like CRED, which emphasize responsible financial behaviour, seek employees who align with these values. In some industries, a high credit score can signify trustworthiness, making it a key factor in the hiring process.

CRED Launches Svalbard

Meanwhile, on February 25, CRED launched Svalbard, a suite of credit-focused features designed to help users monitor and improve their credit scores. The company already maintains an exclusive user base, allowing only individuals with a credit score above 750 to access its services.

As part of the Svalbard release, CRED now enables users to pledge mutual fund investments to secure digital credit lines, with interest rates starting at 8.99 per cent. This move is expected to expand the startup's lending services and reinforce its position as a key player in India's fintech space.