Flipkart Pay later Cibil issue

See this thread:
https://www.desidime.com/forums/dost-and-dimes/...

Civil score

I’m also facing the same issue. IDFC told to ask flipkart to close this loan account.

I am facing the same issue. Now kissht doesn’t have any contact number and that is being reflected in CIBIL as well as IDFC. Both are getting reflected in CIBIL. IDFC says they can’t see any loan, flipkart says they can’t close.
Forget about Kissht. There is nobody to contact with.
And flipkart doesn’t have option to delete or close the account permanently..

I think the only option is to permanently delete your Flipkart account. Then your linked Paylater account will also closed. And will be removed from CIBIL.

rajeshacharya42962 wrote:

I am facing the same issue. Now kissht doesn’t have any contact number and that is being reflected in CIBIL as well as IDFC. Both are getting reflected in CIBIL. IDFC says they can’t see any loan, flipkart says they can’t close.
Forget about Kissht. There is nobody to contact with.
And flipkart doesn’t have option to delete or close the account permanently..

buddy you got any solution? same happened with me? does it any way affect me?

File your complains here:

https://www.rbi.org.in/Scripts/Complaint...px

Bhai my loan got cancelled showing I have a consumer loan, though the credit manager seems like a new person. You can check in CIBIL it shows no OS, just issue amnt is 60k. I have wrote to Kissht to remove my account. I got a auto reply that they are working on it.

As far as IDFC is concerned, flipkart mentioned in faqs that we can raise a request to close the account but can’t find the answer.

One suggestion visit nearest IDFC bank. I would do that. But yes prior to that get your loan account with you. You can find your complete account number in paisabazar uquifax score.
Hope it helps..

Vladimir-Putin wrote:

I think the only option is to permanently delete your Flipkart account. Then your linked Paylater account will also closed. And will be removed from CIBIL.

There is no option to completely delete the flipkart. They are too wise. Once you login with ur id and pwd ur account will be restored.

Please provide email address and process

Even I have same issues it’s fraud done by Flipkart where is our 60k ?? When we have requested for personal loan .

so whats could be possble from such pay later apps like postpaid from-ola/amazon/flipkart/lazypay? on CIBIL account , if we took loan is it a bad thing , doesnt it increase our credit worthiness?

im also facing the Same issue. no response from flipkart and bank

My account was blocked yesterday so will my paylater account also get closed?
I still have Rs330 dues to pay for this month and around Rs 600 for next month but I am unable to do so as account is blocked.
I have pointed out this concern to twitter team but they still haven’t responded me.
Any suggestion?

demerius2020 wrote:

so whats could be possble from such pay later apps like postpaid from-ola/amazon/flipkart/lazypay? on CIBIL account , if we took loan is it a bad thing , doesnt it increase our credit worthiness?

In long term it increases but in short term it decreases if you have availed some other credit card/similar service within 4-5 months. Most of all this loan limit reduces your future loan limit for at least 1-2 years so not really worth it unless you plan to use the full 60k/whatever limit available on these pay later type of services.

shaqib19 wrote:

My account was blocked yesterday so will my paylater account also get closed?
I still have Rs330 dues to pay for this month and around Rs 600 for next month but I am unable to do so as account is blocked.
I have pointed out this concern to twitter team but they still haven’t responded me.
Any suggestion?

why was ur account blocked?? they will not close ur paylater account till u pay the outstanding.. u will have keep contacting them

demerius2020 wrote:

so whats could be possble from such pay later apps like postpaid from-ola/amazon/flipkart/lazypay? on CIBIL account , if we took loan is it a bad thing , doesnt it increase our credit worthiness?

in ur cibil it shows 60k unsecured loan, is taking a loan bad thing? no.. but a person has to take loan for just 60k amount… sometimes that is seen as credit hungry… not always but in some cases..

vijaymba6666794 wrote:

Please provide email address and process

contact the idfc bank on twitter… u can get the customer id email id from their website

aniket1587 wrote:

in ur cibil it shows 60k unsecured loan, is taking a loan bad thing? no.. but a person has to take loan for just 60k amount… sometimes that is seen as credit hungry… not always but in some cases..

guest_999 wrote:

In long term it increases but in short term it decreases if you have availed some other credit card/similar service within 4-5 months. Most of all this loan limit reduces your future loan limit for at least 1-2 years so not really worth it unless you plan to use the full 60k/whatever limit available on these pay later type of services.

by how much , if i get the desired card once i wont care much about these evil CIBIL

howevr see this article https://www.paisabazaar.com/credit-card/should-... where they strongly advised agaisnt closing unused Credit card
by that logic and pointed out that “an unused credit card keeps a considerable credit limit locked-in, improving the credit utilization ratio which, in turn, improves your credit score”

Total Credit Limit____________Total Debt_____ Credit _____Utilization Ratio

Before closing Credit Card 1___₹ 4,30,000_____₹ 1,10,000_____ 25.58%

After closing Credit Card 1_____₹ 3,30,000____₹ 1,10,000_______33.33%

wont incrasing Credit will effect utilization ratio?

demerius2020 wrote:

by how much , if i get the desired card once i wont care much about these evil CIBIL

howevr see this article https://www.paisabazaar.com/credit-card/should-... where they strongly advised agaisnt closing unused Credit card
by that logic and pointed out that “an unused credit card keeps a considerable credit limit locked-in, improving the credit utilization ratio which, in turn, improves your credit score”

Total Credit Limit____________Total Debt_____ Credit _____Utilization Ratio

Before closing Credit Card 1___₹ 4,30,000_____₹ 1,10,000_____ 25.58%

After closing Credit Card 1_____₹ 3,30,000____₹ 1,10,000_______33.33%

wont incrasing Credit will effect utilization ratio?

It is not simple Maths, there are a combination of factors each having a different weightage. Generally it is advised to keep your credit limit utilization below 30-40% for few months at least & after that if you regularly use 80-90% of your limit but also pay regularly & well before due date then bank itself will offer to increase your credit limit. Also not all credit limits are same.e.g. a home loan credit or educational loan credit for studying in some top tier university abroad has much more value than having a 8-9 lakh limit on some credit card. Considering all these factors it can be safely assumed that these pay later/similar type of loans are really not worth it.

I also got the same issue…have contacted filpkart as well idfc first bank but they have not responded yet

Iam also facing this problem

Raised a request for my Paylater Account closure and received this mail. Let’s see if they really close my account or not.

“Hi xxxx,

Thank you for writing in.

We certainly understand your concern.

We are sorry to hear that you’re having issues while using Pay Later services.

We’d like to let you know that we are looking into the Flipkart Pay Later Account closure request and we will send you an update on this within 15 business days from the date of raising the request.

We would like to thank you for your understanding.

Thank you for shopping with Flipkart.

Thanks,
Pradeep Kumar
Flipkart Customer Support
Flipkart Customer Support ( 2020-07-09 14:32:34 )"

My bad luck that I didn’t bothered to refer this thread on desidime and now I am worried.

Just few days back, activated Amazon Pay Later and received ₹10000 credit limit from Capital Float.

Yesterday only, I had activated Flipkart Pay Later and received ₹5000 credit limit from IDFC First Bank.

Quite a long time back, I had started using LazyPay but I have rarely paid via it. just once or twice only. I think they might have reduced from previous limit and currently offering just ₹1500 only.

Started using ePayLater service but again used it rarely for few transactions only.

Actually I usually pay via Debit Card or UPI Apps like PhonePe, Google Pay or Wallets like Paytm, Mobikwik, Amazon Pay etc. most of the time so couldn’t use LazyPay or ePayLater much.

I don’t have any Credit Card or not taken any Loans in past. Hence, my credit score is not build yet. I am Self-employed with uneven earnings.

I had applied for Amazon Pay ICICI Bank Credit Card once, but after doing KYC (although I am existing Savings Account Holder of ICICI Bank and having Full KYC) from Amazon & ICICI, they abruptly rejected my application without giving any reason for rejection, while their CC is also good for nothing. I contacted both Amazon and ICICI Bank but couldn’t get positive response from either parties. Amazon straight forwardly excused that they don’t have any say in this and they are simply cashback processing partner of ICICI Bank for this particular variant of Credit Card. And then suddenly magic happened, suddenly out of a blue moon, local verification agency of ICICI Bank called me and told to visit my residence for verification purposes, with reference to my card application, btw which was already denied through informing via SMS. Still I had a hope of card approval so I entertained them and their man visited and completed his procedure. Then again pin drop silence from them.

So after lot of frustrations and humiliation from such a bitter experience, I have decided to build my CIBIL Score gradually from scratch, hence thought to apply for Amazon & Flipkart Pay Later services.

But after reading all this I think I have done terrible mistake and I should have avoided atleast Flipkart Pay Later. I hate Flipkart to the core due to many bad experiences and cheating from them in the past. Its cheap, greed, third rated and fraud company but still I have to bear them for years now. They have eaten my Flipkart First membership amount, duplicate products sent, Pathetic CC experience, Overall complete headache, most of the time. But just for building my CIBIL Score I had betted in this nonsense calle flipkart.

So my point is that can anybody guide me about this situation. Will it negatively affect my CIBIL Score in future.

Another thing that, will Secured Credit Card issued against FD (FD Extra > FD Card > Instant Platinum Credit Card) with ₹10000 FD at ICICI Bank will help in building good CIBIL Score for getting Unsecured Credit Card like Amazon Pay ICICI Bank Credit Card or any other card + loans etc.

Bajaj Finserv is offering their Bajaj Finserv EMI Network Card with pre-approved limit of ₹30000 by paying ₹500+ towards one time fees. Should I opt for this? Will it be worth to keep this card for No Cost EMI for e-commerce transactions (mainly on Amazon)? Can I build my Credit Score using this card.

Kindly, guide me on all these issues. Thanks to everyone for sharing your precious knowledge in earlier posts.