rockyBalboa
TF Premier
I have a limit increase offer in my PayTM postpaid account. Credit provider is Aditya Birla Finance Ltd. My question is, will they do a credit search if I accept the limit increase offer?
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PayTM postpaid limit increase offer
- Thread starter rockyBalboa
- Start date
VISHESH_BANSAL
TF Prestige
I accepted the limit increase offer on PaytmPostpaid
As of now CIBIL hit is not done by ABFL
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crazyuploader
TF Premier
How much limit are you being offered?
But these will be shown as personal loan in cibil right similar to amazon pay later.. or is it different?
If it is similar then not worth it right.. usually to increase the limit they will add a new loan for the difference amount, at least this is what they do in case of amazon pay later and all.
VISHESH_BANSAL
TF Prestige
ABFL does not report it as Personal loan neither as Consumer Loan.
ABFL report it as "other"
rockyBalboa
TF Premier
Yeah true. Mine is also reported as other. Previously I had Flipkart and Amazon pay later. Both from IDFC. They were reported as Personal Loans. @cardwizard
crazyuploader
TF Premier
What was your initial limit then? In my case it was 750 rupees (my first ever credit account) and recently got upgraded to 3k, after around a year's of usage
Tejo
TF Legend
How did you close them? is there any positive or negative impact on credit score if closed?
rockyBalboa
TF Premier
I requested customer service on phone. Both were closed smoothly without any issues and also received NOC from IDFC. After closing my credit score improved a little. But if you're planning to close your pay later accounts and if they are your oldest accounts then think over it before closing, as closing them might affect your credit score negatively.
they are my latest accounts (few months old) and this FK gave me 2.5k limit
and i don't use them anyway.rockyBalboa
TF Premier
Did you mean convenience charge? Mine is flat 1% on outstanding balance.
Cosmicgaze
TF Select
They do not do a hard enquiry, they just ask to confirm. I got le 2 times. They only modify the sanctioned amount.
Clix finance reports as consumer loan, ABFL reports as others.
I did not notice score go down since applying. However when they shifted me to ABFL and closed clixfinance my score increased. But when ABFL got added score went down for a bit and went up again.
I always try to pay my dues before 25th since they report every 3 months sometimes monthly around end of month but the outstanding balance doesn’t reflect at that point sometimes outstanding can be very low or high. So if you only have that and no other credit accounts score can go down 7-8 points and then go back up again.
Clix finance reports as consumer loan, ABFL reports as others.
I did not notice score go down since applying. However when they shifted me to ABFL and closed clixfinance my score increased. But when ABFL got added score went down for a bit and went up again.
I always try to pay my dues before 25th since they report every 3 months sometimes monthly around end of month but the outstanding balance doesn’t reflect at that point sometimes outstanding can be very low or high. So if you only have that and no other credit accounts score can go down 7-8 points and then go back up again.
P B R G
TF Ace
Same here. I always clear my Paytm postpaid outstanding before month end so that my utilisation always remains 0 in Credit bureaus.
Cosmicgaze
TF Select
Yes plus I noticed for those who pay before bill generated they offer good limit increases
anxietybrobmth
TF Buzz
Do you have to accept terms and conditions for such increase. I received text messages to see offers of increase in limit in an account with I have requested to cancel (amazon pay later provided by axio). I just clicked on the link to see what it is and since then I received message such as - Thanks Mr. XYZ for showing interest in personal loan. To check your loan amount click here.
Now do they automatically increase the limit even if I click a link to check offers. I have not given any info to them nor filled any application. I just hope they are spams.
Attachments
rockyBalboa
TF Premier
For PayTM postpaid they don't automatically increase the limit just by clicking a link, you have to accept terms and conditions. Not sure about Amazon pay later.
