Does using BNPL services affect your CIBIL score?

General
1

Has anyone here checked their cibil score after using BNPL services like lazypay, postpe, simplpay etc? There seems to be mixed information on the internet. I would like to know your opinion.

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2

Know few friends who availed these BNPL services.

BNPL services reflected as loan taken on their CIBIL report, sometimes a single loan split across multiple lending companies without their actual knowledge ( small print t&c ), which is bad for your credit score.

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Yes it does
I had zero credit history. Last year I applied for Amazon Pay Later in order to build credit score. They just asked for PAN and sanctioned a limit of ₹ 10000 without any other docs. I use this limit to recharge mobile/dth and then pay it on time. Today after reading this question, I checked my score and it’s 754

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BNPL services vary from one company to another. Some credit from BNPL does show up as negatives on your credit history, while others do not show up at all. Thus one needs to be vigilant when using these apps.

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I have availed BNPL from Amazon Pay later. Even in my case 20% loan is approved by Capital Float while rest 80% by Karur Vyasa Bank. In CIBIL report they are shown as separate loans but Loan A/C No is same. So anyone who checks the report can easily figure out that it’s same loan. So I don’t think it will have any impact as long as I am paying on time.

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754 is an excellent cibil score. There hasn’t been any negative effect on your score probably. I read somewhere that only if you miss the due date for the payment, your score gets hit badly. How true is that?

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While applying for loan, they ask for e-nach mandates from your Saving account from where they will debit the amount automatically on due date if you don’t pay before that. If the payment still fails due to insufficient balance or any other reason, then they report it to cibil and the score gets affected

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I didn’t had any credit history before this loan. Even today this is the one and only loan that I’ve taken in my life so far. So all this is score has been built up solely on the basis of BNPL.