Lazypay Credit Card Review

The lazypay credit card is a newer addition to the Indian app-based credit card market. While it has the looks of a credit card, we have to keep in mind that it is actually a Buy Now Pay Later service that LazyPay has been providing for quite a while through its app and now they have decided to shape it like a credit card, opening a few new options for their customers of using their line of credit. More about the lazypay credit card benefits are discussed below.

Who can apply for the lazypay card?

Currently, this card is not available for everyone, the eligible LazyPay users will get an “Apply Now” option in their lazypay app. 

• Resident Type: Indian
• For salaried person:
  • Age: 21 to 55 years. 
  • Income: The average income of the applicant should be Rs. 30,000 per month.
• For self-employed person:
  • Age: 21 to 55 years.
  • Income: The average income of the applicant should be Rs. 30,000 per month.
• Having a good credit history will help you to get a good lazypay card limit.

What documents are required to apply for the lazypay credit card?

• Photocopy of Address proof (any 1)
  • Last 6 months bank account Statement
  • Aadhar Card
  • Driving License
  • Passport
  • Utility bills
• Photocopy of ID Proof (any 1)
  • Aadhar card
  • Voter Card
  • Passport
  • PAN Card
• You will have to upload your selfie.
• Proof of income statement:
  • Salaried Person (any 1)
    • Salary Slip of last 3 months
    • ITR (Income Tax Return)
  • Self-employed person
    • Income tax return of the last year
    • Proof of business

What are the lazypay card fees?

• Lazypay card joining fee: None.
• Lazypay card annual fee: Free for a lifetime.

What are the lazypay card benefits?

• Enjoy the convenience of credit with a higher credit limit:

The credit limit on the LazyPay cards can go up to Rs. 5 lakh. Normally your lazypay credit card limit is equal to the limit you have got on your lazypay pay later app.

• A big sign-up bonus to make a wonderful start for you:

As you perform the first transaction after your lazypay card activation, you will get a flat Rs. 500 cashback as a welcome bonus. 

• Add more value to your transactions with a powerful cashback program:

The lazypay credit card features a 5% cashback on almost every transaction you make using this card. Also, if the transaction amount is above Rs. 3000, the lazypay credit card offers up to Rs. 500 cashback.

• Enjoy a hassle-free application process:

If you have got the invitation to apply for this card, then all you need to do is to tap on the apply now option and provide some basic information. 

The lazypay digital credit card will be issued instantly and your lazypay physical card will be delivered to your address within 7 to 8 days after your application is approved. 

• Lifetime free card:

There are no joining or annual fees on this card, you will get to enjoy all the above-mentioned lazypay credit card benefits without paying any extra charges.

• Use your card anywhere you want:

Currently, this lazypay visa card is accepted at 250+ online e-commerce platforms with exclusive deals and offers. You can also use your credit line wherever you can see a Bharat Pay or Bhim QR code or at any POS machine that accepts Visa credit card payment.

What are the lazypay credit card charges?

Particulars	Payable amount
Lazypay card cash withdrawal charges	Cash withdrawal is currently not applicable on this card.
Finance Charges	The lazypay credit card interest rate ranges between 15% to 32% annually (Depending on your outstanding amount)
Lazypay late payment charges	Total outstanding Lazypay late fee Rs. 0 to Rs. 199 None. Rs. 199 to Rs. 499 Rs. 50 Rs. 500 to Rs. 1,999 Rs. 100 Rs. 2,000 to Rs. 4,999 Rs. 150 Rs. 5,000 to Rs. 9,999 Rs. 300 Rs. 10,000 to Rs. 24,999 Rs. 400 Above Rs. 25,000 Rs. 500

How to contact the Lazypay customer care department?

• Lazypay email id: hello@lazypay.in
• You can submit your quarry from the lazypay complaints page. 

100xGain Ratings: 

7/10

Pros and Cons:

Pros.	Cons.
The Welcome bonus of the lazypay sbm card is really attractive. This lazypay credit card offers a decent cashback on every transaction. It is a lifetime free credit card.	It is not actually a credit card, it is a Pay Later system that provides a credit line. It will be shown as an active loan on your credit report which can affect your credit score. The lazypay card interest-free period is just for 15 days.

Final Opinion:

This card is most suitable for those who don’t have a proper credit score or those who want to build one. But if you already have a good credit score then this card can create a bad impact on your credit history, because every transaction you make using this card will be shown as an active loan.

Otherwise, this card is quite good for beginners and for those who shop quite frequently. So if you are getting your very first credit card then it would be a good choice for you. You can also take a look at the postpe card or slice card, both are quite good as entry-level credit cards.