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Received a IDFC First Bank card. Not sure if I applied for it. What exactly is this?

Pro Critic

So last week I received a letter and this card from IDFC FIRST Bank. As far as I can remember, I am sure I have not applied for this card. This is “MyMoneyMantra” EASY BUY card from IDFC FIRST Bank.

Anyone know what exactly is this?
Is this a debit card or a credit card or a prepaid card or something else?
How did they got my info (Name, address and phone number) when I have not applied for it?

@rogerthat @androgame @A2Zdeals @Tejaa

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rohit_agarwal wrote:

I also activated Flipkart paylater, but don’t get any card like this

Check your CIBIL Report
If there’s no personal loan reflecting there, don’t think you will get the card
Also the new Travel OlaMoney Card (For Ola Postpaid) is mostly being issued for those with a loan entry in CIBIL

Deal Cadet Deal Cadet
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Roushh wrote:

UPDATE: IDFC First Bank has cancelled my card.

On request of IDFC CC, I had sent an email on [email protected] asking why I was issued this card without my consent. It was practically a long rant. And I didn’t receive any reply for my email. Just when I was thinking about sending another email, I noticed that I received a SMS on Saturday that my card has been withdrawn.

Happy ending!

Thanks all of you for helping me. plus1

@Roushh Can u please check CIBIL report if possible and update us whether easy buy card did any changes to report?

Deal Cadet Deal Cadet
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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.