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Clossing bnpl account
- Thread starter tushu5121
- Start date
Card_Crafter
TF Ace
Close all BNPL accounts asap. It will affect your credit score but will recover in a few months.
abhinandan8
TF Select
My cibil increased after i closed my flipkart pay later account
anxietybrobmth
TF Buzz
Bro do we have to pay this sanctioned amount for closing BNPL. I have a sanctioned ₹5000 BNPL from amazon pay later. I have never used it. So I don’t have any due payments. But do I have to pay this 5000₹ which they have sanctioned in CIBIL to close my account?
Of course no. You have to pay only what you have used. Sanctioned amount is your assigned limit. You can use till that limit and pay back as per due date. Since right now there is no outstanding you can go ahead and close it. You do not need to pay anything.
MOhit __
TF Ace
wait six months before applying again or try an offline process.
AritraSaha
TF Prestige
They show as personal loan in your cibil,
Less personal loan is better.
So close them if you don't use them or have credit card.
Don't worry to much about cibil score. It will fall for short term & but its better for the long term.🙂
Card_Crafter
TF Ace
There is no such rule. I think you are not eligible as per the bank that's y not able to apply.
I also closed my Flipkart pay later around Nov last year and recently received the IDFC card. It was instantly approved.
got_no_credit_card
TF Buzz
Ok but Flipkart pay later is the oldest loan account in my pan
AllThatStuff
TF Ace
Hello,
I have following BNPL accounts, which I have opened over period of time.
Now I'm not using much of these accounts.
Need valuable suggestions on which one should I keep & which one to close.
Also, how to get these closed ??
P.S.: Will closing these accounts help improve my CIBIL? (its stuck in 730s since long)
I have following BNPL accounts, which I have opened over period of time.
Now I'm not using much of these accounts.
Need valuable suggestions on which one should I keep & which one to close.
Also, how to get these closed ??
P.S.: Will closing these accounts help improve my CIBIL? (its stuck in 730s since long)
federer.reddevil
TF Ace
Best would be to close all the accounts
The calculation of CIBIL score is unknown, but definitely close all except one with the highest limit (if you don't have any CC). Then apply for any LTF cards such as Amazon Pay ICICI CC and then close the remaining pay later account too. Will definitely see an improvement after closure of each BNPL account.
HumorSimpson
TF Prestige
Is SMPL app too comes under BNPL. I never spent more than the 5K limit it provided and always paid in time. Nevertheless I am gonna close it.
AllThatStuff
TF Ace
I do have credit cards with good credit limits. So then I should go for closure of all these accounts.
Also, how do I close these??
I don't remember these belong to which BNPL partners??
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