Loans, Credit Cards, and Paylater

I started my journey of Credit card with Icici instant platinum card and subsequently got some more credit cards as well as paylater prepaid cards but never a loan.
However When I see my credit report I found that even though Lazypay have given me credit limit in 2022 they have shown them as loan amount to be sanctioned in 2019. Is that a good thing or should I report with credit bureaus?
Also can anyone please tell if higher loan amount is a good thing or a bad one?


Amount doens’t matter*¹ .
Credit Limit utilisation+repayment matters .

If you’ve only One Loan with LazyPay ( PayU Finance) then it’s alright .

Credit type : “mixed” is good where Credit Card & Secure Loan ( Ex- Home loan) doesn’t have negative impact until repayment missed.

@Mukesh_kumar_Bharti I got LazyPay in 2022 of limit ₹50K before that I’ve not used and limit was ₹1500 but in credit score they mentioned ₹50K , from 2020


Appreciate your response.:clap::clap:

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@Shawnpinto Why can’t we have a small session on zoom/gmeet on this topic for the community members…It would be a great platform and an opportunity to clarify all the doubts regarding credit scores


Credit bureau will not help you as they do not have permission to update anything…

Higher loan amount will effect you for getting credit card as they will show as personal loan/consumer loan which is not good for credit health. 1-2 credit line account is okay but after crossing the limit. Its not good.

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What’s the difference between consumer loans and personal loans?
Which among these is considered better in comparison on your credit report?
Also why some financial institutions like Snapmint put them as personal loan but others like Walnut 369 put them as consumer loans, while both of them provide the same service:
providing EMI options for online payment.

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