1st July 2024
CardGuru, an AI-assisted credit card recommendation engine, that lets consumers find the most suitable credit cards and rewards programs based on their spending profile, won the #MegaEvent2024’s Lion’s Den pitch competition in Calgary, Canada last month.
A user can apply for a recommended credit card directly through the CardGuru app, as there is an option to use a direct link to the issuer’s application page.
The user may be asked to provide details such as their monthly spending across different spending categories (e.g., groceries, dining, travel, gas), preferred types of rewards (e.g., cashback, points, miles), and any specific benefits they are looking for (e.g., travel insurance, no foreign transaction fees), according to CardGuru.
Post this CardGuru’s AI algorithms cross references this input with their credit card database and machine learning model.
Finally, the interface displays recommended cards tailored to the user’s financial needs. The user can look at the options, and choose to apply for a card, according to the company.
CardGuru has initially forayed into the Canadian credit card market. The plan is to enter US, Australia, and other countries in the future
By Ritesh Gupta, Ai Events
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