How to Close Flipkart Pay Later: Flipkart Pay Later is a convenient financial service offered by IDFC First Bank Ltd in partnership with Flipkart. It allows users to make purchases on Flipkart and pay for them later, providing a hassle-free shopping experience.
However, there might come a time when you decide to close your Flipkart Pay Later account for various reasons. Closing the account properly is crucial to avoid any potential issues in the future.
This article will walk you through the simple and effective procedure of how to close Flipkart Pay Later account. We'll lay down the steps simply so that anyone—even a pupil in the tenth grade—can comprehend and adhere to them.
Understanding Flipkart Pay Later Account
|Benefits of Flipkart Pay Later||Drawbacks of Flipkart Pay Later|
|1. No need to pay upfront: Shop without paying upfront, suitable for flexible payments.||1. Limited usage: Can only be used on Flipkart platform.|
|2. Consolidated bill: All purchases in a cycle on one bill, easy expense tracking.||2. Potential debt accumulation: Mismanagement can lead to unanticipated debt.|
|3. Interest-free period: Up to 40-50 days without interest charges.|
Flipkart Pay Later is like a credit card, but you can only use it to buy things from Flipkart. It's a digital credit account. You can make purchases with Flipkart Pay Later without paying right away.
Instead, the unpaid balance builds up over time, and you are then presented with a bill at the end of each month, which is beneficial for customers who want to purchase without worrying about making upfront payments.
How to Close Flipkart Pay Later Account Permanently: A Step-by-Step Guide
To permanently close your Flipkart Pay Later account, follow these simple steps to get in touch with Flipkart Customer Support:
#1. Head over to Flipkart Help Center
Open your web browser and navigate to the Flipkart Help Center webpage.
#2. Select 'I want help with other issues'
Look for the option that says 'I want help with other issues' on the Help Center page and click on it.
#3. Choose 'Others' > 'Other'
Next, select the category 'Others' from the list of options provided, and then choose 'Other' to specify your request.
#4. Request for permanent closure through 'Chat' or 'Request for a Callback'
Once you are in the 'Other' category, you will have two options to connect with the support team. You can either initiate a 'Chat' with a customer support representative or 'Request for a Callback' as per your convenience. When you get in touch, clearly state that you want to permanently close your Flipkart Pay Later account.
#5. Ensure Complete Account Closure
Before reaching out to Flipkart Customer Support for account closure, it's essential to take the following steps to ensure a smooth and complete closure process:
#6. Emphasize the need for permanent closure
Mention that you want your Flipkart Pay Later to account permanently terminated, not just temporarily paused or designated as inactive when contacting Flipkart Customer Support. This will ensure that the account is permanently canceled and avoid any misunderstandings.
#7. Double-check pending dues
Verify that your Flipkart Pay Later account is free of unpaid bills or overdue payments. Before asking for the report to be closed, make any outstanding payments. You need to pay off all the money you owe to finish the closure process correctly.
You can close your Flipkart Pay Later account and prevent potential troubles by following simple procedures and taking all necessary safety precautions. Remember to monitor your credit history and practice prudent credit management.
It's crucial to responsibly manage your credit and make informed financial decisions because correctly closing your Flipkart Pay Later account can affect your credit score.
Now that you know how to close your Flipkart Pay Later account, let's move on to the part where we'll discuss what to do if your request is ignored or if you face any issues by filing a complaint with the RBI Ombudsman.
Contacting RBI Ombudsman for Grievance Redressal
There is a course of action you can take if, despite your efforts, your request to close your Flipkart Pay Later account still needs to be fulfilled or if you do not get a No Objection Certificate (NOC) despite asking for one. The RBI Ombudsman can be contacted for grievance resolution.
An impartial body chosen by the RBI to handle complaints and disagreements between clients and financial service providers is the Reserve Bank of India (RBI) Ombudsman. You can contact the RBI Ombudsman to request redress if you feel that IDFC First Bank or Flipkart Customer Support did not appropriately handle your complaints.
To file a complaint with the RBI Ombudsman, you can follow these steps:
- Visit the official RBI website and navigate to the Ombudsman Scheme page.
- Look for the relevant Ombudsman contact details based on your location or the location of the branch/service provider involved.
- Prepare a detailed written complaint explaining the issue, including the attempts you made to resolve it with Flipkart and IDFC First Bank.
- Gather any supporting documents or evidence related to your account closure request.
- Send the complaint via email or postal mail to the RBI Ombudsman's office.
The RBI Ombudsman will review your complaint impartially and work towards a fair resolution. It is essential to remain patient throughout the process, as it may take some time for the investigation to be completed.
Considerations for Deleting Flipkart Pay Later Account Permanently
Let’s explore the important considerations:
Impact on Credit Score:
It's possible that closing your Flipkart Pay Later account would temporarily lower your credit score. Your credit score can decline if you close an active credit account. A solid credit history with other accounts can help repair this decline over time, albeit it is typically just temporary.
The Account's Status on CIBIL
If you successfully close your Flipkart Pay Later account, it will still appear as a "closed" account on your CIBIL report. Future lenders can view your credit history thanks to this customary record-keeping practice.
Maintaining a good balance of "Credit Card" and "Loan" accounts on your credit report is also advantageous. This combination raises your credit score and displays prudent credit usage.
Considerations for First-time Credit Users
If you have Flipkart Pay Later and are new to credit, keeping the account open is a good idea. Even if you don't use it, having an available credit line might help you establish a credit history necessary for future credit card or loan applications.
Contact their Customer Support to deactivate your Flipkart Pay Later account permanently. Before beginning the procedure, pay off any outstanding debts. Any concerns about account cancellation can be brought up with the RBI Ombudsman for grievance resolution.
Your credit score may momentarily be impacted by the closure, but don't worry; keep an eye on your credit report frequently.
If you need a credit history, marking the account open helps establish a good credit history. For financial stability, prioritize appropriate credit management and seek advice from reliable financial sources.
FAQs (Frequently Asked Questions)
Here are some of the frequently asked questions and their answers:
How do I close my Flipkart Pay Later account?
To close your Flipkart Pay Later account, contact Flipkart Customer Support and request for permanent closure.
What if I don't receive a No Objection Certificate (NOC) after account closure?
If you don't receive the NOC, you can reach out to the RBI Ombudsman for Grievance Redressal.
Will closing my Flipkart Pay Later account affect my credit score?
Closing the account may have a temporary impact on your credit score, but it should improve over time.
How long does it take for the closure to reflect on my CIBIL profile?
- It might take 2-3 months for the closure to be updated on your CIBIL profile.
- Should I keep my Flipkart Pay Later account active if I'm new to credit?
- Keeping the account active can help build a positive credit history for first-time credit users.