Slice Card New Terms Update - Credit bureau reporting

[TechnoFinoTechnoFino is verified member.]

Slice card's terms of use, read it carefully and then decide.
If you swipe your card for 100 rs, slice will add a 100 rs loan account to your credit history,
if you use your card again for 200 rs, they'll add another 200 rs loan account and so on...
Be careful 🚨

 

[skpa]

This will destory Credit Score

 

[anu27893]

Please provide link of the source as i have visited the terms of use portal of slice and found nothing like this

 

[ashwinkashwink is verified member.]

Thank God I have not got approved 🙏 🤣

 

[Dr. Drake]

Thank God I have not got approved 🙏 🤣

Same was rejected one never applied though I got uni hope they don't mess up like slice

 

[ashwinkashwink is verified member.]

Slice card's terms of use, read it carefully and then decide.
If you swipe your card for 100 rs, slice will add a 100 rs loan account to your credit history,
if you use your card again for 200 rs, they'll add another 200 rs loan account and so on...
Be careful 🚨

View attachment 2502

Rather than doing this they should come with actual credit card 😝

 

[Vinay Kumar Manchiganti]

I'm trying to close my slice card. I dropped an email for closure and asked for NOC from all NBFC for credit lines. They have provided me three NOC letters. How to know if these are correct and no credit line is left without closing. I even asked for deleting my data and KYC details but they didn't update me anything on this. I checked app it's showing on hold.

How to know if they are any credit lines opened without my notice and they didn't provide me NOC.

 

[prc1990]

I'm trying to close my slice card. I dropped an email for closure and asked for NOC from all NBFC for credit lines. They have provided me three NOC letters. How to know if these are correct and no credit line is left without closing. I even asked for deleting my data and KYC details but they didn't update me anything on this. I checked app it's showing on hold.

How to know if they are any credit lines opened without my notice and they didn't provide me NOC.

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If you already have NOC, you should be all set. Just make sure it is marked as closed in all the 4 credit bureaus in the next 2-3 months. Also since the account is already closed, don't attempt to initiate any transaction with this just for troubleshooting or testing.

 

[Amitt Aryan]

Most people do what you told in the last line

Now slice has introduced Purchasing Power instead of credit limit.
It will be checked everytime before your purchase.
Its now updated in the app.

 

[Vinay Kumar Manchiganti]

If you already have NOC, you should be all set. Just make sure it is marked as closed in all the 4 credit bureaus in the next 2-3 months. Also since the account is already closed, don't attempt to initiate any transaction with this just for troubleshooting or testing.

They have provided me 3 NOC letters. How to check if this number (3) is correct or not. They might have opened more than 3 and giving me only 3.

Why my account data is not yet deleted??

 

[Vinay Kumar Manchiganti]

Now slice has introduced Purchasing Power instead of credit limit.
It will be checked everytime before your purchase.
Its now updated in the app.

Yes they even sent a mail regarding purchase power this morning.

 

[Amitt Aryan]

Yes they even sent a mail regarding purchase power this morning.

Useless just a name change to build confidence among the customers.

 

[prc1990]

They have provided me 3 NOC letters. How to check if this number (3) is correct or not. They might have opened more than 3 and giving me only 3.

Why my account data is not yet deleted??

First of all check your credit report to understand how many lenders are showing up for your slice account. I believe it is more than one for you and hence you received NOCs from all of them.

 

[Vinay Kumar Manchiganti]

Your account data won't be deleted
Forget about it

Any idea how to get it deleted?

 

[kiran kumar]

Is it advisable to close the slice card even after the new update on terms and conditions?

 

[rp0703]

Closed Slice few weeks ago. Was regretting the decision because of all the offers on the card on multiple merchants. but now yikes, who would in there right mind use this.

 

[kiran kumar]

Thanks for the update, will close it right away.

 

[anu27893]

Any idea how to get it deleted?

This is the regulatory requirements to keep the record for certain period. It can not be deleted befor 10 years

 

[Credit Karma]

Slice card's terms of use, read it carefully and then decide.
If you swipe your card for 100 rs, slice will add a 100 rs loan account to your credit history,
if you use your card again for 200 rs, they'll add another 200 rs loan account and so on...
Be careful 🚨

View attachment 2502

These so called "Credit Card Challengers" have become "Credit Score devourers" in the true sense.

This is what happens when FinTech tried to " Re-invent the Wheel!"

 

[Paras Jain]

Is this happening for other BNPL as well? like UNI, Postpe, Lazypay?