Card_Crafter
TF Ace
Is there anyone here using Zestmoney credit line?
-
Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.
Anyone using Zestmoney?
- Thread starter Card_Crafter
- Start date
Card_Crafter
TF Ace
How is your experience? I have 1.25 lakh limit but haven't used for more than 6 months. They are also offering 1.93 lakh PL which I am not all interested bcoz of high interest.
Mine was a little bit of a mixed bag. I have only used it once inform of an amazon voucher during early days of my credit card journey.
Though the no cost emi is a good deal but they sometimes report wrong information to CIBIL for which I had to fight for. In my case they reported a loan of Rs. 5 Lakh whereas I only took a voucher of 5k. However they promptly corrected their mistake and right after repayment they also closed the loan on my CIBIL. So a good service but be vigilant when you use it.
Though the no cost emi is a good deal but they sometimes report wrong information to CIBIL for which I had to fight for. In my case they reported a loan of Rs. 5 Lakh whereas I only took a voucher of 5k. However they promptly corrected their mistake and right after repayment they also closed the loan on my CIBIL. So a good service but be vigilant when you use it.
For loans generally go for established financial institutions. Btw I have 1.6L as the limit and they keep on pestering for limit enhancements which I really don’t need. For the loan, I think they are offering it those who have shown an interest on loans section.
Card_Crafter
TF Ace
Yeah thinking of closing it as the Bolt limit of 4000 unnecessary showing as a Active loan in the CIBIL report. Will they close the Bolt limit and keep the Zest money limit active if I ask them to close the Bolt limit?
Yes they will close the limit reported (if it’s offered by zest money financial partner) as it was in my case from INCRED. They closed the INCRED Account on CIBIL but I am still eligible for using Zestmoney.
Although you should confirm once before closing.
Although you should confirm once before closing.
ZestMoney starts off with no cost EMI but they will send you loan offers soon with a high interest rate. And the no cost EMI (interest refunds) will also stop.
Overall, if you get approval for ZestMoney and use it max 1-2 times you will get approval for CC also. Don't keep using it.
Only good part is you can foreclose everything (no cost EMI, PL) without any bullshit at once while saving on interest and pay using DC for 0.25-1% points. I don't know if things are different now as I used it last 10 months ago.
Overall, if you get approval for ZestMoney and use it max 1-2 times you will get approval for CC also. Don't keep using it.
Only good part is you can foreclose everything (no cost EMI, PL) without any bullshit at once while saving on interest and pay using DC for 0.25-1% points. I don't know if things are different now as I used it last 10 months ago.
Card_Crafter
TF Ace
Amazon, Flipkart, Myntra no cost EMI vouchers without any processing fee were really good. Now they have stopped giving vouchers and also there is processing fee applicable on everything.
Goldman Sachs-backed ZestMoney, once valued at $450M, to shut down | TechCrunch
ZestMoney, a buy now, pay later startup whose ability to underwrite small ticket loans to first-time internet customers attracted many high-profile ZestMoney, a Goldman Sachs-backed buy now pay later startup, is shutting down following unsuccessful efforts to find a buyer.
techcrunch.com
Good . BNPL apps have destroyed youth
Similar threads
- Question
