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Any one uses CRED FLASH ? Any point in using it?
- Thread starter Rohith_Kumar_Sp
- Start date
abhishek751
TF Premier
just saw it too, no idea what it is yet.
Rohith_Kumar_Sp
TF Ace
What is a bnpl service? Is it gonna affect my cibil score given it counts as a loan like amazon pay later?
Buy now pay later. It will show as a loan in your CIBIL. Stay away from these BNPL services.
It will show as loan in cibil report, it would be like amazon pay later or flipkart pay later if u have ever used them. They can reduce cibil in long term, so stay away from them.
Rohith_Kumar_Sp
TF Ace
I will, I've had Amzaon pay later since 2019 but not once used. Last month the tht amazon pay later account got closed, it's now saying enable pay later again, guessing the 3 years I've had not used they closed the account.
The mere fact I've already opted into cred flash a bad thing if I don't use it at all? Or should I contact cred and ask the to close my cred flash account?
Its not bad per se if u use it regularly and repay it at bill generation, but it long term close it as it would not be much beneficial. Even i also had amazon pay later which i opened for getting discounts in early days but later didnt use and it got dormant. Around 6 mnths back i closed it and can see my cibil score going up.
This is my point of view let others also comment their views.
This is my point of view let others also comment their views.
+1, strongly agree with this statement...
In general, this BNPL does more harm than good... We need to be extremely attentive using this service for a longer period, one small mistake, will dent the credit score in a big way..
Better to stay away from any BNPL service...
Better to ask the support team to close the flash account. I asked them to close my CRED cash which was reflecting as personal loan in CIBIL. I too had amazon pay later and later requested them to close it. I have now removed every BNPL loans from my CIBIL and reduced the number of loans drastically. It gives peace of mind.
Always check the CIBIL report for any unwanted loans showing up. I always keep a tab on the loan section of CIBIL.
Correct sir, PEACE of MIND is more valuable than agains these little no of loans to take care of...Better to ask the support team to close the flash account. I asked them to close my CRED cash which was reflecting as personal loan in CIBIL. I too had amazon pay later and later requested them to close it. I have now removed every BNPL loans from my CIBIL and reduced the number of loans drastically. It gives peace of mind.
All these facilities should ease our life, not the other way around...
I also do regularly check cibil for any unwarranted loans. Dont know when anybank does cibil enquiry and does start a loan account in my name
Highly recommended..
Not necessarily bank, any naughty guy to whom we had given our docs for offline CC application or any such persons..
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stay away from this service and email cred to close this asap.
