Should one use 'Pay Later' option or no ?

Any unsecured credit line is considered bad factor.

If you can't get a regular credit card by not even able to afford to make a FD of Rs.10-20k & you are a student/non-earning person then only take a look at BNPL with the knowledge that BNPL are inherently less secure(in case of fraud txns) & more privacy invasive.

It's a loan. Unless you absolutely need it, don't opt for it. 

Rather get a FD based credit card, if you don't get any credit card initially.

Flipkart pay later has lots of complain on twitter and most of them are similar in nature. Someone gets unauthorised access to account and orders a smartphone with quick delivery. Even if account owner mails or call to flipkart cc regarding unauthorised transaction, many a time they simply refuse to cancel the order as order is already shipped and will be delivered in few hours due to quick delivery. So you need to pay for someone else phone (as mentioned by some victims)

Thank you all for the replies. I will opt for a FD based CC for the time being. Any recommendations? Which bank has the ‘best’ FD based CC ? And will getting a FD based CC help ‘create’ my credit score, as I don’t have any now, and are FD based CC any different from normal CC?

Get started with FD based CC, after using it and repaying timely for 6 months, check if your credit score>750 and start applying for a proper credit card (don’t apply too many a month, one every 3 months is quite sensible).

Another route is to open savings account, load some decent fund value, keep transacting on DC and check for pre-approved CC offers.

Experts here may guide you with best options for the above…

PS- Avoid BNPL and fake CCs which are credit line based prepaid cards.

As above, axis also offers insta CC based on FD though most don’t like axis here due to obvious issues.

PS – I just closed one and only BNPL I had – Amazon capital float this month and took NOC. (corrected old mistake) Hoping for a credit score boost next month…

Credit cards and credit lines, they don't differ by much (Both are short-term loans - unsecured lending & got the concepts of EMI/Min Due to defer payments). 

Is it bad/good for credit score? If i use the pay later option, will it be good for me as i don’t have a credit score?

Just like credit cards, these credit lines help building the credit profile. If your sole intention is reaching 700/750+ CIBIL, then opting for a PayLater account is not a bad idea (You can close them later on)

Few things to note :

1. Don't apply for multiple credit cards/lines at the same time

2. High Number (Say 5*) of these credit lines won't negatively impact your credit score. If you don't opt for EMI, the total due amount will become zero post monthly bill settlement (Don't get confused with regular loans and sanctioned amount concept, this doesn't apply here)

3. Avoid those PayLater services who are known to have security issues (Flipkart) + got a history of wrong reporting to credit bureau / Unusual number of hard enquiries (Like Dhani, Mobikwik Zip?)

mine was working fine from past 2 years, but now i have fd one card and 2 Unsec CC, so 2 days ago requested to  close pay later, now not showing in Flipkart. but IDFC bank still want Confirmation Proff to close account 😳

My Journey of Credit Score (CIBIL) Started in 2019, When Flipkart Launched First-ever BNPL System in INDIA, Called Flipkart Pay Later (IDFC First Bank), I Signup for it and did use it 5-6 times now, It started generating my credit score and after that when I thought let's apply for CREDIT CARD, I had FD Based ICICI Platinum Credit Card (10K) Better than Kotak 811. Because, if you want Amazon Pay ICICI Credit Card, you just hold this card for 12-18 months and then break the FD. After that, Your application will be considered for Amazon Credit Card, so used FD Based credit card for 14 months and then break the fd, then the amazon card received in 2021, Now, Just have FLIPKART PAY LATER (IDFC is Good) and APAY ICICI CREDIT CARD. My Account Age in nearly 2 years and 1 Pay Later is okay because, in CIBIL, your mixture of credit loans is very important. So,Pay Later was good for me

SBI CC, BOB CC and AU CC are on the way ....

CURRENT CIBIL - 778

"@The_GoodFella":https://www.desidime.com/users/1...31

BNPL – Amazon pay later only, nothing else if you wish to have one. These BNPLs open up 2 credit accounts, one for the loaning bank another for nbfc behind it! When you close it, they double verify and after 5-6 days issue NOC that you have no dues and account closed.

SBI cards are all paid, no LTF, even if secured (do they offer one?)

OneCard is proper CC. For those it can’t allocate unsecured card (metal), they give option to make FD in SBM bank and issue plastic secured CC. Research about it if you’re interested. Card withdrawn if you break FD, maybe plasic cannot upgrade to metal now. Also, if you close card, cannot apply later.

By fake CCs, I meant unicard, postpay, slice and their BNPL prepaid card brothers and sisters posing as CCs…

Regards axis, I started with their insta FD based CC in 2010, closed after 2 years. People here might have suffered through axis as I feel often. Not an axis customer, currently, no latest experience.

What about icici paylater service? Whenever I open icici app I’m getting message that I’m eligible for it. Though I rarely use them, I currently have lazy pay and simpl bnpl accounts. @getready @guest_999 @Sidhu634 @Seinfeld

its all good , paylater

my credit scroe is 854..

and salary cash m milti hai,,, to credit card kaise le skte hai