In case you have a Flipkart Pay Later active, and you want to close it, you can follow this guide:
Flipkart Pay Later is offered by IDFC First Bank Ltd. You can also inspect your CIBIL report to confirm it.
You may also check out list of loan/pay later accounts on your CIBIL.
To cancel your Flipkart Pay Later Account, you need to contact Flipkart Customer Support. IDFC First Bank won’t help you out if you contact them directly.
You can contact Flipkart Customer Support and request them to permanently close your Flipkart Pay Later Account. This is the easiest.
- Head over to Flipkart Helpcenter.
- Select ‘I want help with other issues’.
- Select ‘Others’ > ‘Other’.
- There you will have the option to either have a ‘Chat’ or ‘Request for a Callback’.
Make sure you ask them for permanent closure, not a ‘temporary pause’ or ‘inactive’ account.
In case your Account closure request is not honored or you do not receive NOC even after requesting for the same, you can reach out to RBI Ombudsman for Grivance Redressal. Refer to my post: GUIDE: How to reach out RBI Ombudsman for Grievance Redressal?
Before you go ahead with closing your Flipkart Pay Later Account, you should remember the following things:
- Double check if all your pending dues are cleared. Else it won’t be closed.
- You will get a NOC from your lending provider that your Flipkart Pay Later is closed with no dues left. Ask for it if you don’t receive it within 2-3 weeks of requesting account closure.
- Sometimes (not every time), you may notice a slight decrease in your credit score after closing your account. Don’t worry, it is a temporary thing.
- It might take 2-3 months for the ‘closure’ to reflect on your CIBIL profile, so, don’t be scared if you find your Flipkart Pay Later Loan ‘active’ on your CIBIL.
- Even after your Flipkart Pay Later is closed, it will continue to display on your CIBIL as a ‘closed’ account, for a few years. It is just for record-keeping purposes (so that your future lenders know which credits you had opted for previously).
- Even if you don’t use it, there is absolutely no harm in keeping your Flipkart Pay Later account as it is. It helps to keep a healthy mix of ‘Credit Card’ and ‘Loan’ accounts on your Credit Profile.
- If you do not own any credit cards till now, and have been offered Flipkart Pay Later, consider keeping it active, since this is your first credit line. The age of a credit line has a high impact on your credit score. This might help you get a credit card or loan in the future when you need it.