[Resolved]  Ola Money — Wrong reporting of delayed payment to Credit Bureau

I have been using credit cards for last 8 years and have loans as well. Till date there has not been a single delay in payment. However, ola moneypowered by ABG capital has reported delay in payment to CIBIL for Sep 2021, whereas there was not a single transaction done in ola money postpaid account on September. August month outstanding was paid before due date. Due to wrong reporting, my cibil score decreased by 100+ points, bringing it to less than 800 for the first time. Even after repeated follow ups with the customer care, after acknowledging their mistake, still the issue is not resolved. They asked me 30-40 business days time to rectify the issue in my cibil report however even after 40 business days it is not done. Conplaint request no: 3793347. Curently there is no option left other than filing a case against the company and also informing the NBFC ombudsman regarding fraudulent practices in the company. Request people not to open ola money postpaid account as your CIBIL score will be screwed by these people without your fault. Currently, due to reduction in cibil score i am finding it difficult to get loan at better rate from banks. AVOID OLA POSTPAID & ABG Capital or else your CIBIL will be screwed.
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Apr 15, 2022
Complaint marked as Resolved 
Ola Money customer support has been notified about the posted complaint.
Verified Support
Mar 14, 2022
Ola Money Customer Care's response
Hi Subhajit, we apologize for the inconvenience caused. Kindly note that we have replied to the concern to your registered email ID with Ticket ‭#4061704.
Complaint comments 

Comments

Same thing happened with me for the month of September. They reported wrongly a late payment. Which caused a credit score hit of 150 points for me. After 4 months of back to back calls and mails with Olamoney and the lending partner IDFC first bank finally it is rectified now. We use these apps for small discounts of 100 Rs/- without realising their carelessness can cause a credit hit of more than 100 points for us. Better to use credit cards than using these kind o[censored]seless wallets. This can seriously impact our ability to get big loans in the time of emergency.

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