Flipkart Pay later Cibil issue

Alpha_Lion wrote:

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.

Bajaj finserv card will help u build a gud cibil score, bajaj finserv cards used to have no cost emi offers on Flipkart but now Amazon and flipkart provide no cost emi mostly for their co branded credit cards, u will have to confirm with bajaj customer care if they could convert online purchase into no cost emi

Alpha_Lion wrote:

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.

Do u REALLY need flipkart pay later, Amazon pay later? If not, close them right away,
u shouldn’t have applied for Amazon icici cc, try to get icici platinum credit card first then after 3-4 months ask icici for upgrade, hdfc is the best bank for getting life’s 1st entry level credit card, icici is worst

Check ur cibil score on paisa bazar after 45 days, u will see the entries, get that finserv card, use it , pay the bills on time, wait till diwali, don’t apply for any cc for at least 3 months, r u self employed? do u file ITR? File ITR for ay 2020-21 of 4.50 L or more, keep it less than 5 lakh, it’s tax free, then apply for icici platinum cc, minimum income requirement for platinum cc is 3.60 L

Thanks. Actually below mentioned page on Amazon.in for No Cost EMI shows Bajaj Finserv EMI Network Card and its usage for availing the same.

https://www.amazon.in/b/ref=sxts_spks?ie=UTF8&n...

https://www.amazon.in/b/ref=s9_acss_bw_cg_ncere...

I will also try to inquire with Bajaj Finserv CC, as per your advice.

But as far as I have researched, Bajaj Finserv has strong policy to push customers to their partnered stores for buying products, so I think they don’t encourage much for online purchases. Anyways this is my assumption only but there are strong reasons behind it. Because I have seen many comments about them under different videos on youtube about what is Bajaj Finserv EMI Network Card and how to apply online or offline for the same.

Many people told that their in-store representative push customers for buying some product from their respective store first abd then they take application for generating network card. Their conditions are also bit on higher side, the minimum value of the purchased product should be of 12,000. So if customer who intend to buy the product he actually needed via EMI will end up buying without their facility or will have to buy some useless thing first. Apart from that the product is available in store (Vijay Sales, Croma, Reliance Digital etc.) is on bit higher side than various e-commerce platforms (Flipkart, Amazon, SnapDeal etc.) So ultimately its ghate ka sauda for the customer.

Even some customers have complained that they even Card application by giving reasons like insufficient salary or annual income etc. Then its furthermore frustrating.

They have great track record in taking higher charges for lapse of Installment payment or issue with ECS mandate with Bank. Although they mentioned those charges on their website and customers doesn’t bother to refer them before applying for card and then rant about these issues. In certain feedbacks customers were genuine and wrong charges were taken by Bajaj Finserv. But afterall this is part and parcel of the dirty games played in Money Lending and Credit Giving businesses.

So I was bit skeptic when they offered pre-approval credit limit of ₹30000 in Bajaj Markets App for EMI Network Card. Then I refered youtube and quora for this thing.

Somehow forgot to check on desidime to, otherwise i wouldn’t have applied for Flipkart Pay Later.

Amazon is still bit more transperant and good e-commerce player, while Flipkart has became fraudster day by day. Many innocent customers are not aware of their dirty tricks and gets trapped into their net. The day Mobikwik Wallet started I had stopped using it and the day Flipkart started Super Coins, I have stopped buying from them. Because these Super Cash and Super Coins concepts are mere fooling people. If you want to gove cashback then give it directly, like Amazon gives in wallet. Here, flipkart first of all cheats by giving just 2 coins against every ₹100 spent on product buying and then maximum capping of 50 coins on single order. Means you can get maximum coins on order of ₹2500 only. Hence, if you buy any single product higher then this then you will loose those coins. e.g. If you buy mobile worth say ₹10000 then you loose 150 coins on that order.

Even coin redemption is also a big joke. Flipkart has learnt all these dirty tricks from Mobikwik. Because Prepaid Recharge, Bill Payments etc. services are powered by MobiDick wallet only. These rascals have spread venom in entire industry, because after their super coins concept, paytm, amazon, flipkart etc. all have degraded their cashback benefits and started playing around with cashback programs for maximizing their own intrests and reducing customer benefits.

@maulik.n.raval If you don’t have a job/salary or really self-employed(aka don’t fill fake ITR just for getting a credit card as someone suggested above because that may prove to be another costly mistake in future) then don’t run after too many cards & just take sbi simplyclick card against FD. Use this card for 6-7 months by paying all your outstanding dues in such a manner that remaining outstanding on the day of statement bill generation(say your card statement generation date is 15th of every month) is around 10-15% of your card limit so your card with 20k limit you do 18k of transactions but pay 15k(you can always pay custom amount in credit card) on 13th of the month so on 15th the final bill generated will be of 3k which is 15% of your card limit of 20k which you can then pay within next 4-5 days.

SBI simplyclick card is one of the best card for doing online transactions & especially for amazon transactions which gives 2.5% worth of reward points. Also keep in mind that no bank will give you a card based on secured credit card(aka card against FD) so your main purpose of taking card against FD is to build a good cibil score & later when you have a good job/salary then you can apply for another regular unsecured card.

Nope, I exactly don’t needed Pay Later from either Flipkart or Amazon, but I intend to start something from small scale. That’s why applied for Amazon’s Pay Later service so that instead of paying directly from Bank account for Product purchases and utility bills etc. using Debit Card or UPI, i can use credit limit first and then timely repay them.

I know about ICICI Bank’s Credit Cards. They take unt shunt charges also. Payback program is worst reward / cashback program. Only Amazon Pay ICICI Bank Credit Card is the only variant offered by them which gives cashback directly into Amazon Pay Wallet and plus its Life Time Free too.

They have two variants, Platinum and Instant Platinum, while former is Unsecured Card while Later is Secured Card against minimum FD of ₹10000. While Coral also has Secured variant against minimum FD of ₹30000, along with its Unsecured sibling.

I was used to filed ITR earlier, but this year due to COVID-19 pandemic my financial situation is not good. Even previous two years were also bad.

I am actually planning for future, in case emergency situation, I will be having good credit worthiness in terms of good CIBIL score and re-payment history then I can immediately get personal loan or home/auto loan etc.

I don’t want to use Credit Card as luxury but whenever needed then it may fulfill my necessities. So your advices were very much helpful for me because experiences of different dimers is really helpful in what is good or bad. Because marketing guys won’t let you know their product / companies other side. They will only show one side of the coin which is good.

I have tried to check my CIBIL via paisa bazaar etc. but its not generated so you can say its NIL as of now, so ICICI Bank rejected my Amazon Pay ICICI Bank Credit Card application.

Actually their management is idiot, they offer FD Card option under FD Xtra in their NetBanking and iMobile, where there are 3 variants available with different minimum FD conditions. 1. Instant Platinum 2. Coral against FD & 3. Rubix against FD

Now Instant Platinum is LTF issued against minimum FD of ₹10000 with 90% Credit Limit on FD, i.e. with minimum Credit Limit of ₹9000.

While Amazon Pay ICICI Bank Credit Card is also LTF.

The only difference between these two is that this one is Unsecured with Amazon Pay as Reward / Partner, while Instant Platinum is Secured against FD with Payback as Reward / Cashback partner. So ultimately both are entry level cards and both are LTF. But donkeys sitting into ICICI Bank doesn’t think about offering this Amazon Pay ICICI Bank Credit Card against FD. This quite simple change will increase their CC issuance multiple times and Secured cards are have almost 0% risk attached to it. So they can recover entire credit from the Lien marked on FD.

But these people get ultimate pleasure in rejecting 80 to 90 applications for this card. They feels happy when customers are begging for asking them reason behind rejecting their application. By the way these reasons or their eligibility criterias are kept as a hidden secret by them. I have read tons of frustrating experiences like me on quora, desidime etc. public discussion platforms. People are fed up with their silence on eligibility criteria.

If they hadn’t these particular variant co-branded with Amazon then I wouldn’t have bothered to even call once to them.

Secured Card Variants with Minimum FD requirements

SBI SimplyClick / SimplySave – ₹25000

Axis My Zone / Insta Easy – ₹20000

HDFC Regalia – 20000

Kotak Mahindra Aqua – ₹15000

ICICI Instant Platinum – ₹10000 & Coral against FD – ₹30000

only ICICI has lowest FD requirements for secured credit card.

If I block say 15k, 20k, 25k or 30k in FD against CC, then how would I do repayment of my cc bills. Even I don’t require credit more than ₹8000 to ₹9000 as of now, so once 10k is blocked with ICICI, I can use remaining money for repayments. While rest all banks asking higher than this.

Your last sentences are exactly same as zi am planning to do. I am looking for good work opportunities but due to COVID-19, I am hesitated to take job in another city or especially in another state because then will have to relocate myself and get adjusted while this pandemic is going. I am happy to do that once everything gets over.

My reason behind creating credit worthiness is only that I won’t have to ask for money to friends and family, in case of some urgencies or unforseen crisis situation. Atleast after playing intrests, i can atleast somehow secure uncertain future needs.

Alpha_Lion wrote:

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.

Credit Cards are a boon if used wisely . Very first thing to do to improve your cibil score is get your current cibil score through either hdfc bank link / wishfin / paytm . Once you have ur credit report in hand you will have a fair idea about how these pay later services and ICICI Apay card rejection has impacted your score .

Then next thing is to identify the cards which suite your lifestyle . These should depend on your income type / your city of residence / your spend types along with your cibil score. There are multiple cards in the market and identifying the card issuers of your preference is important. Also , the list of best credit cards keep on changing over the time so you should be careful while picking up new cards . You can follow the cardexpert and cardinfo blogs for some of the latest cards and judge which one is the best for your usage . Also read through the comments section of each card issuer to understand which one is easier to get based on your income type / residence city as certain companies are picky for the said criteria

I have build my CC profile in the last 3 years approx and now have 10 CCs from 8 credit card issuers card in my possession . And having multiple cards doesnt mean a lower score.

However , as a suggestion these are my picks for the best CC issuers you should target

1. American Express – What sets them apart is that in such a crisis they are coming up with various offers when all other issuers are reducing their reward rates and stuff . I was skeptical due to high fees but I guess overtime you will realize like me American Express is way better than anyone else. Even in case of Jet Airways fiasco when other banks were denying charge backs , Amex was willingly doing it for their customers . ( This reminds me of the fact that never book your high ticket purchases from some Wallet just for a few % points extra savings )

2. HDFC – All time favourite of all CC Holders. Though they have drastically reduced their rewards in this difficuly times HDFC is the market leader and will surely come back strong once this situation is over. Must have and number of ways to get it LTF

3. SBI – Though never LTF but a starter card is a must as most of the Sales especially the Diwali ones surely have SBI as a partner . ( This is on my wishlist )

4. Axis – Axis has upped its game in the Cards market in the last 2 years or so . Maybe I rank it above ICICI only for the very fact of its great lineup currently

5. ICICI – If its an LTF ICICI then you must have one . Dont find rewards interesting on Coral series but Amazon Pay takes the cream

6. CITI – Again a good issuer who surely comes up with different types of offers and the starter cards have nominal fee waiver conditions .

Other than these 6 , maybe all others issuers can be weighted on the basis of their respective Credit Card and the value proposition the same provides to you on the basis of your spend patterns .

guest_999 wrote:

@maulik.n.raval If you don’t have a job/salary or really self-employed(aka don’t fill fake ITR just for getting a credit card as someone suggested above because that may prove to be another costly mistake in future) then don’t run after too many cards & just take sbi simplyclick card against FD. Use this card for 6-7 months by paying all your outstanding dues in such a manner that remaining outstanding on the day of statement bill generation(say your card statement generation date is 15th of every month) is around 10-15% of your card limit so your card with 20k limit you do 18k of transactions but pay 15k(you can always pay custom amount in credit card) on 13th of the month so on 15th the final bill generated will be of 3k which is 15% of your card limit of 20k which you can then pay within next 4-5 days.

SBI simplyclick card is one of the best card for doing online transactions & especially for amazon transactions which gives 2.5% worth of reward points. Also keep in mind that no bank will give you a card based on secured credit card(aka card against FD) so your main purpose of taking card against FD is to build a good cibil score & later when you have a good job/salary then you can apply for another regular unsecured card.

I didn’t suggest him to file an ITR just to get a credit card, i guessed he’s self employed bcoz salaried people usually don’t have hard time in getting entry level cc, i thought he might be regularly filing ITR’s

Alpha_Lion wrote:

Thanks. Actually below mentioned page on Amazon.in for No Cost EMI shows Bajaj Finserv EMI Network Card and its usage for availing the same.

https://www.amazon.in/b/ref=sxts_spks?ie=UTF8&n...

https://www.amazon.in/b/ref=s9_acss_bw_cg_ncere...

I will also try to inquire with Bajaj Finserv CC, as per your advice.

But as far as I have researched, Bajaj Finserv has strong policy to push customers to their partnered stores for buying products, so I think they don’t encourage much for online purchases. Anyways this is my assumption only but there are strong reasons behind it. Because I have seen many comments about them under different videos on youtube about what is Bajaj Finserv EMI Network Card and how to apply online or offline for the same.

Many people told that their in-store representative push customers for buying some product from their respective store first abd then they take application for generating network card. Their conditions are also bit on higher side, the minimum value of the purchased product should be of 12,000. So if customer who intend to buy the product he actually needed via EMI will end up buying without their facility or will have to buy some useless thing first. Apart from that the product is available in store (Vijay Sales, Croma, Reliance Digital etc.) is on bit higher side than various e-commerce platforms (Flipkart, Amazon, SnapDeal etc.) So ultimately its ghate ka sauda for the customer.

Even some customers have complained that they even Card application by giving reasons like insufficient salary or annual income etc. Then its furthermore frustrating.

They have great track record in taking higher charges for lapse of Installment payment or issue with ECS mandate with Bank. Although they mentioned those charges on their website and customers doesn’t bother to refer them before applying for card and then rant about these issues. In certain feedbacks customers were genuine and wrong charges were taken by Bajaj Finserv. But afterall this is part and parcel of the dirty games played in Money Lending and Credit Giving businesses.

So I was bit skeptic when they offered pre-approval credit limit of ₹30000 in Bajaj Markets App for EMI Network Card. Then I refered youtube and quora for this thing.

Somehow forgot to check on desidime to, otherwise i wouldn’t have applied for Flipkart Pay Later.

Amazon is still bit more transperant and good e-commerce player, while Flipkart has became fraudster day by day. Many innocent customers are not aware of their dirty tricks and gets trapped into their net. The day Mobikwik Wallet started I had stopped using it and the day Flipkart started Super Coins, I have stopped buying from them. Because these Super Cash and Super Coins concepts are mere fooling people. If you want to gove cashback then give it directly, like Amazon gives in wallet. Here, flipkart first of all cheats by giving just 2 coins against every ₹100 spent on product buying and then maximum capping of 50 coins on single order. Means you can get maximum coins on order of ₹2500 only. Hence, if you buy any single product higher then this then you will loose those coins. e.g. If you buy mobile worth say ₹10000 then you loose 150 coins on that order.

Even coin redemption is also a big joke. Flipkart has learnt all these dirty tricks from Mobikwik. Because Prepaid Recharge, Bill Payments etc. services are powered by MobiDick wallet only. These rascals have spread venom in entire industry, because after their super coins concept, paytm, amazon, flipkart etc. all have degraded their cashback benefits and started playing around with cashback programs for maximizing their own intrests and reducing customer benefits.

If u r not 100% sure about bajaj finserv credibility then u can go for card against FD

I was regular salaried person and was filing ITRs regularly. But then somehow took risk of creating my own small startup consultancy and freelancing work. But back stabbed by few friends on whom I have heavily relied and also helped them by going out of the way or by bearing personal financial losses in the their critical time.

As they say, Dogs are man’s best / loyal friends. Why no one say that mens are man’s best / loyal friend? Because we are selfish to the core.

But expectations are like glass, they are meant to be broken and from whom you keep higher expectations you face highest disappointment.

Anyways now I have stop blindly trusting people and taking them on the face value or what they committ.

Soon I will bring my rail on track and even I am aware with the fact that credit won’t be built up in a click of a button. Obviously it will take so much long time and sustained efforts and will do that.

Btw I don’t do any unnecessary or window shopping or even panic buying.

I am kind of a tol mol ke bol person who does bit of research and comparison before taking final call. I am always looking for optimum value of money spent behind any product or services.

I think majority of dimers are thinking the same way and that’s why everyone take calculated decisions only.

I personally appreciate your time & efforts behind guiding me on right path. I am really grateful to dimers like you who devoting their precious time in helping others and that too without any relation or knowing someone personally and most importantly without any personal intrest or benefit. That’s really a genuine sacrifice and true help.

@maulik.n.raval also note that ICICI seems to not report instant platinum card against FD to cibil as per comment by @Donald-Trump

https://www.desidime.com/discussions/credit-car...

aniket1587 wrote:

I didn’t suggest him to file an ITR just to get a credit card, i guessed he’s self employed bcoz salaried people usually don’t have hard time in getting entry level cc, i thought he might be regularly filing ITR’s

Actually there are users here who were planning on doing the same(file a fake ITR with income just showing below taxable limit) to get icici amazon pay card.

No, I am not in favour of fake ITR Filing just for sake of getting even Amazon Pay ICICI Bank Credit Card or may be any other CC from any xyz bank.

Reason is quite clear, it will take months and years to build your credit worthiness and credit scores, but it will take very little time to ruin everything and once you are flagged as defaulter then it will become very much difficult to take credit at the time of actual need and then ultimately you will be bound to borrow money from goons and byajkhors. Which will ultimately turn into mental and psychological pressure and sometimes nightmare.

Its always better to pick up legal way. Fake ITRs are similar to paper tiger, which can neither roar nor attack. So it may help in short term by inflating your repayment capacity and you can fool Banks or NBFCs but unless your income is not increased you may gonna default for sure.

That’s why I am not in a hurry. As per my opinion, CC is a need for me but not a greed and one should never take excessive financial burden without need. But yes its always good to be prepared for unforeseen future.

What about getting SBI Unnati CC against FD. (If they offer that variant).

Unnati is new entry level CC offered by SBI Cards and its also Free for First Four Years.

Alpha_Lion wrote:

What about getting SBI Unnati CC against FD. (If they offer that variant).

Unnati is new entry level CC offered by SBI Cards and its also Free for First Four Years.

SBI unnati card discontinued. You can get SBI SimplyCLICK against FD. Minimum FD value have to be 20k.

I’m also facing the same issues showing 60k personal loan from idfc first bank.i tried all the way visiting branch sent mail to idfc, contacted customer care executive, no one having proper knowledge on this they always diverting to another. If any one got the solution plz help me for the same. Thank you

manish.roy19dec403 wrote:

I’m also facing the same issues showing 60k personal loan from idfc first bank.i tried all the way visiting branch sent mail to idfc, contacted customer care executive, no one having proper knowledge on this they always diverting to another. If any one got the solution plz help me for the same. Thank you

head.customerservice [at] idfcfirstbank [dot] com
rno [at] idfcfirstbank [dot] com

guest_999 wrote:
don’t fill fake ITR just for getting a credit card as someone suggested above because that may prove to be another costly mistake in future.

Can someone please explain me risks of filling these fake ITRs?

nimod wrote:

Can someone please explain me risks of filling these fake ITRs?

Some possible risks: blacklisting by bank(it will be in their internal records, they will just reject any application from you for anything), blacklisting by cibil(negative remark something like involved in financial fraud making you the last person to give a loan to), notice by IT department in future when big data/AI start analysing all previous year IT returns to find as many tax evaders as possible to maximise tax collection in a downturn economy, blacklisting by major HR/recruitment agencies making your job prospects in big companies zero etc.

Of course there is a chance it won’t be detected but the question is, is it worth for you taking this risk just to get a measly credit card. Let me tell you one bitter truth, if you care about saving/maximising a few thousand or even tens of thousands using various credit cards & various deals posted here then you are simply not making enough money. I know people doing jobs & buying 1 lakh+ iphones using debit card with 0 reward points who would have saved at least 10-15k using cards & deals posted here but they simply don’t care because 10-15k is not even worth their time to apply for various cards & read the deal conditions posted here to get max benefits.

@_One_Miller_ @bikidas2060 @drupal @BubbleBoyChickenLittle @A2Zdeals @panchabhut

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?

THEY WILL MAKE YOUR LIFE HELL FOR THOSE 330 RS….THEY WILL PUT PENALTY EVERY MONTH OF 250 RS ALTHOUGH YOUR ACCOUNT IS CLOSED….IN THE END THEY WILL CALL YOU AND THREATEN YOU TO PAY….I HAD SIMILAR EXPERIENCE…I HAD TO FILE POLICE COMPLAINT AGAINST THEM..THEN ONLY THEY REMOVED THE PENALTY AND I PAID THE PRINCIPAL AMOUNT…

batmanBABA wrote:

THEY WILL MAKE YOUR LIFE HELL FOR THOSE 330 RS….THEY WILL PUT PENALTY EVERY MONTH OF 250 RS ALTHOUGH YOUR ACCOUNT IS CLOSED….IN THE END THEY WILL CALL YOU AND THREATEN YOU TO PAY….I HAD SIMILAR EXPERIENCE…I HAD TO FILE POLICE COMPLAINT AGAINST THEM..THEN ONLY THEY REMOVED THE PENALTY AND I PAID THE PRINCIPAL AMOUNT…

Why are you typing all in caps , are you still angry?

All who are talking here about ‘fake’ ITR I know many CAs who tell to file ITR even if you have no income , one of my friend who have no income his CA still filed ITR for 300,000 income for FY-2018-19 his CA is filling
his ITR from past 5 years , charges 500 per year his intention was not getting credit card but he is just filling for the sake of filing he recently got credit card too based on ITR ,
so there is nothing called fake ITR , it is not a crime to show income
and filing ITR is always better than not filing ITR

drupal wrote:

All who are talking here about ‘fake’ ITR I know many CAs who tell to file ITR even if you have no income , one of my friend who have no income his CA still filed ITR for 300,000 income for FY-2018-19 his CA is filling
his ITR from past 5 years , charges 500 per year his intention was not getting credit card but he is just filling for the sake of filing he recently got credit card too based on ITR ,
so there is nothing called fake ITR , it is not a crime to show income
and filing ITR is always better than not filing ITR

Bro if it is a pro filing your fake ITR then no issue but do you really think people asking such questions here won’t make mistakes while filing their fake ITR. It is indeed not a crime to show income but it is a civil fraud case to show fake income to get something based on it if it gets detected & again those making mistakes have chances of this getting detected. In fact I suggest ppl(you might already be knowing this) to simply file an ITR with 2-3 lakhs received as gift from your father(assuming he file his ITR properly) whether you actually get it or not because it is 100% tax free & it takes care of anything you might do in a financial year incl paying cc bills above 2 lakhs or doing intraday trading with total volumes exceeding 1cr in a financial year etc.

guest_999 wrote:

Bro if it is a pro filing your fake ITR then no issue but do you really think people asking such questions here won’t make mistakes while filing their fake ITR. It is indeed not a crime to show income but it is a civil fraud case to show fake income to get something based on it if it gets detected & again those making mistakes have chances of this getting detected. In fact I suggest ppl(you might already be knowing this) to simply file an ITR with 2-3 lakhs received as gift from your father(assuming he file his ITR properly) whether you actually get it or not because it is 100% tax free & it takes care of anything you might do in a financial year incl paying cc bills above 2 lakhs or doing intraday trading with total volumes exceeding 1cr in a financial year etc.

bro CAs usually show business income or presumptive income, showing such large amount as gift is not good as that person should be filing ITR,
Why take hassle of filing gift income when upto 5 lakh business income is still not taxable,
As far as intraday trading is concerned 1 crore turnover means loss+profit=1 crore
and even if you have traded with 1 lakh rupees still you should show this in ITR3

drupal wrote:

bro CAs usually show business income or presumptive income, showing such large amount as gift is not good as that person should be filing ITR,
Why take hassle of filing gift income when upto 5 lakh business income is still not taxable,
As far as intraday trading is concerned 1 crore turnover means loss+profit=1 crore
and even if you have traded with 1 lakh rupees still you should show this in ITR3

Gift from close relatives is 100% tax free & as long as it is white money then 0 issues & it is the safest option in my opinion to show large amount of income in ITR with zero tax & hassles(maybe you can confirm this from some CA, do mention the white money point because this trick is also used by corrupt bureaucrats/politicians where their sons,daughters etc show large amount as income without paying any tax but that can be easily traced provided govt in power has given the go ahead to IT dept).

ITR3 is only when carrying losses right? I know some people who are either not interested in carrying losses or don’t want the hassle of filing ITR3 instead of ITR1 just to carry losses. You are right about intraday turnover but I thought it will be safer to show the income in above manner as getting any notice from IT concerning stock market transactions is a lot of hassle.

This link has some very good info btw:
https://zerodha.com/varsity/chapter/turnover-ba...
@bikidas2060 @BubbleBoyChickenLittle

guest_999 wrote:

Gift from close relatives is 100% tax free & as long as it is white money then 0 issues & it is the safest option in my opinion to show large amount of income in ITR with zero tax & hassles(maybe you can confirm this from some CA, do mention the white money point because this trick is also used by corrupt bureaucrats/politicians where their sons,daughters etc show large amount as income without paying any tax but that can be easily traced provided govt in power has given the go ahead to IT dept).

ITR3 is only when carrying losses right? I know some people who are either not interested in carrying losses or don’t want the hassle of filing ITR3 instead of ITR1 just to carry losses. You are right about intraday turnover but I thought it will be safer to show the income in above manner as getting any notice from IT concerning stock market transactions is a lot of hassle.

This link has some very good info btw:
https://zerodha.com/varsity/chapter/turnover-ba...
@bikidas2060 @BubbleBoyChickenLittle

For intraday profit or loss you need to file ITR3 not ITR 1,
What is the hassle when everything is clear in P/L statement

drupal wrote:

For intraday profit or loss you need to file ITR3 not ITR 1,
What is the hassle when everything is clear in P/L statement

Ok, my friend made some profits & losses in intraday trade(~3-4k) but never filed ITR3 only ITR1 as he was told by some person working in accounts in the place he works that this little sum is not worth filing ITR3 which is mainly for carrying losses or if intraday gains/losses are significant.

Requested for Paylater account closure. Today Flipkart closed my paylater account. Received this message.
“Hi Pallab,
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 would like to let you know that your

Flipkart Pay Later account has been closed and the loan account is suppressed from CIBIL. Please retrieve a fresh CIBIL report to view the changes.

Please raise a dispute with the credit bureau if changes are not reflecting.

We would like to thank you for your understanding.

Please feel free to get back to us at any point of time for any further assistance and we will be happy to assist you.

We would love to hear from you."

I was not having any previous Credit History so my Credit Score was NIL and with purpose of building it gradually, I have activated both Amazon Pay Later and Flipkart Pay Later, few Months back.

Amazon Pay Later has Capital Float as Lending Partner and sanctioned Credit Limit of ₹10000 in this account, while Flipkart Pay Later has IDFC FIRST Bank as Lending Partner and sanctioned Credit Limit of ₹5000 in this account.

Now, when I have checked my Credit Score via One Score, Wishfin, Paisabazaar etc., both Experian and CIBIL Scores have improved from its NIL Status.

Amazon Pay Later is reflecting in both Experian and CIBIL as an Active Consumer Loan with sanctioned amount of ₹2000 by Capital Float, while Flipkart Pay Later is reflecting only in Experian as an Active Personal Loan with sanctioned amount of ₹5000 by IDFC FIRST Bank.

I think this Persona Loan of ₹5000 by IDFC FIRST Bank should also be reflected into my CIBIL Report, as it will help me in improving score, if I do transactions with Flipkart Pay Later on Flipkart and PhonePe and later do timely repayments. But if they don’t show this Personal Loan in CIBIL and won’t report its timely repayments then it won’t affect CIBIL Score at all.

Contacted Flipkart over its IVR but there is no option to talk to their CS Agent, even selected option for applying Flipkart Axis Bank Credit Card, but even after facing call waiting for more than 60 minutes even, no Agent got connected. Tried many such failed attempts.

After lot of frustrations approached IDFC FIRST Bank over 1860 500 9900 and explained this issue, nut they are not able to check my Loan Account details in their databse. Now, I wonder then how the same Personal Loan is reflecting in Experian Report, in their name. Contacted them multiple times.

Initially they didn’t helped in any way and told to contact Flipkart for any query related to Flipkart Pay Later account, but after few attempts, I was able to convince their one of the executive that they are Lending Partners, thus they sanction Loan amount and not Flipkart, they generate inquiries with Credit Agencies and report it as Active Loan and its usage & repayments, then he somewhat convinced to my logic an ready to help.

He has provided me this banker(at)idfcfirstbank(dot)com email id and informed to write my issue and attach copies of Credit Reports of Experian and CIBIL to them, then their concern team will revert back to my mail and will also receive follow up call from them in this regard and provide correct resolution.

So now, I want help & guidance from experienced dimers that what should I do in such a scenario? should I go ahead with this or avoid reporting in CIBIL by IDFC FIRST Bank, as some dimers faced issue of much higher Loan Amounts like ₹60000, ₹75000 etc. reported by them in their CIBIL Report.

I am quite confused as not having much knowledge of Credit Products and Services, so please provide your valuable suggestions.