Apart from your first Money Club, have you ever been invited to join more Money Clubs?
If yes, you must have thought about how you actually made it to the invite list.
If no, then you might be curious to know how you can get invited for Money Clubbing(chit fund).
The Money Club is driven by an algorithm that is designed to not only protect every Money Clubbers hard-earned money on the platform but also to make your every rupee count!. It assigns a Money Clubbing limit to every clubber based on carefully selected data points. Invitations are automatically generated whenever a set of users have an unused limit that can be utilized by them by joining new clubs.
Now, let’s see what data points actually contribute to your Money clubbing limit:
- Average transaction completion time (of closed + active clubs)
The faster you transfer funds, the better reputation you build and the higher you push the limit!
- Net Invested – Net Borrowed Amount
You are more likely to be invited to join new clubs if your net investments exceed your net borrowings from your currently active clubs
- Monthly liability on the platform
This is the amount that you need to contribute in your currently active clubs in the next 30 days. Keep it in safe bounds and you will score high.
- Reachability and Social Rating
A credible money clubber is one who is prompt in communicating to his/her club in case of payment delays or any other situation where his/her club members should be informed. This helps in building trust among the group members. It gives you a positive score on reachability and social rating.
- Club ownership
Becoming a club owner gives you that extra edge over other clubbers. Make sure you manage your clubs effectively and on time.
- Number of referral members on the platform
The more number of friends and family you have on the platform the higher you score!
- Verification level
We all love verified clubbers when it comes to clubbing money 🙂 If you go for your level 2 verification you should be able to increase your limit
- Credit reputation outside the Money Club
This is based on your latest credit report that you share with us during level 2 verification.
With this, we hope that you are now clear about how you can increase your Money Clubbing Limit and how you can get access to more invitations from us.
Happy Money Clubbing! 🙂