The influencer metal card flex culture is TOXIC. I've seen college kids take Regalia (₹2,500 AF) just for Instagram photos. They spend ₹15k/year, get ₹500 value, waste ₹2k. But hey, metal card content!
Instagram reels and YouTube shorts are FLOODING with terrible credit card and financial advice. Some of it is harmless, some is dangerously wrong.
Compilation of the worst I've seen:
1. "Just get a premium card for the status"
Influencer showing off metal cards, emphasizing 'flex' value.
Reality: ₹10k annual fee for a card you don't optimize = ₹10k wasted.
Why it's bad: Encourages spending on fees without understanding value.
2. "Minimum payment is fine, that's what it's there for"
Comment on a fintech reel suggesting minimum payment is a 'feature' to use.
Reality: 3.5% monthly interest (42% APR!) = debt trap.
Why it's bad: Preys on financially illiterate, creates debt cycles.
3. "Credit cards = free money, just don't pay back"
Edgy reel about 'gaming the system'.
Reality: Legal consequences, destroyed CIBIL, collections harassment.
Why it's bad: Actual fraud advice, ruins people's financial lives.
4. "Apply for 10 cards in one month for maximum rewards"
YouTube video on 'churning Indian credit cards'.
Reality: 10 hard inquiries = CIBIL score crash, likely rejections.
Why it's bad: Misunderstands Indian credit system (not like US churning).
5. "No-cost EMI is free money, always use it"
Every shopping platform promotes this.
Reality: Product prices inflated to cover interest, you pay via higher base price.
Why it's bad: Hidden cost structure, people think they're getting deals.
6. "Close all credit cards to improve CIBIL score"
Advice from 'financial advisor' Instagram account.
Reality: Reduces credit history length + increases utilization = score drops.
Why it's bad: Opposite of correct advice, damages credit profile.
7. "Share your CVV with this app for cashback"
Shady cashback app asking for full card details.
Reality: Direct path to fraud, money stolen.
Why it's bad: Obvious scam but people fall for it.
8. "Max out cards before applying for loan - shows high creditworthiness"
Random Twitter thread.
Reality: High utilization = risk signal = loan rejection.
Why it's bad: Completely backwards logic.
9. "Keep ₹1 balance unpaid to build credit history faster"
'Credit hack' from fintech influencer.
Reality: Charges late fee + interest, no actual benefit.
Why it's bad: Costs money for zero gain.
10. "Invest your credit limit in crypto, pay back with profits"
The absolute worst. Telegram groups promoting this.
Reality: Using credit for investment = high risk + guaranteed interest costs.
Why it's bad: Recipe for catastrophic debt if (when) crypto drops.
What's the worst advice you've seen? Let's compile a list so newcomers avoid this nonsense.
Also: How do we combat this misinformation? Reporting helps but these accounts multiply.
4
'Invest your credit limit in crypto' was genuinely the worst I've encountered. Telegram group with 15,000 members promoting this. Reported it. Still up. People are going to lose everything.