topic Re: Simplio 15K tradeline? in Rebuilding Your Credit

Simplio 15K tradeline?

Anonymous — Fri, 21 Jun 2019 23:06:34 GMT

https://shopsimplio.com/product/yearly-membership/

I just got an email about this. I have not tried it. Anyone else hear of them or have any experience?

Re: Simplio 15K tradeline?

Jnbmom — Fri, 21 Jun 2019 23:35:55 GMT

Yes run don't walk.

It is an extremely overpriced catalog card, they are way more reputable actual credit cards when rebuilding.

Re: Simplio 15K tradeline?

Anonymous — Sat, 22 Jun 2019 00:27:04 GMT

Thanks. Good candidate for just open credit? Any spending requirements?

Re: Simplio 15K tradeline?

Anonymous — Sat, 22 Jun 2019 00:27:36 GMT

Thanks.

Re: Simplio 15K tradeline?

chhull00 — Sat, 22 Jun 2019 00:37:56 GMT

@Jnbmom wrote:
Yes run don't walk.

It is an extremely overpriced catalog card, they are way more reputable actual credit cards when rebuilding.

but their annual fee is on sale, should get some at 29.00 , im going o wait for 14.99

Re: Simplio 15K tradeline?

coreysw12 — Tue, 25 Jun 2019 19:39:50 GMT

@Anonymous wrote:
Thanks. Good candidate for just open credit? Any spending requirements?

Ya, it appears they only report to Equifax, and they only report for months that you have a balance. In other words, you have to keep buying stuff from them at least once every 2 months, because it won't report to the bureau for any zero-balance months... and even when you have a balance, it doesn't report to TU or Experian.

When you consider that the stuff they sell is mostly gadgets that nobody really needs, and that you can buy the same stuff on eBay or Amazon for far less, this card could end up being VERY expensive, even if you only use it minimally. And if that's not enough, they also charge membership fees and interest. You could easily end up with a mountain of debt and nothing to show for it except a drawer full of cheap quadcopters and cell phone camera zoom lenses.

I'd recommend something traditional instead, like a secured card. At least then you could use it to buy stuff you really need, like groceries and gas, and have it reported to all 3 bureaus, and eventually graduate it to a better card later.

Re: Simplio 15K tradeline?

Anonymous — Mon, 29 Jul 2019 16:41:58 GMT

@Anonymous wrote:
https://shopsimplio.com/product/yearly-membership/

I just got an email about this. I have not tried it. Anyone else hear of them or have any experience?

Yes, Just got reporting on my credit, not sure how to share screenshot here. they gave me a $3,500 revolving account and i got my camera drone within 2 weeks, they told me they are reporting monthly for as long as you have an account... though i am bummed i paid $69 for the membership it seems they are now ramping up and offering a free lifetime complimantery membership for the next 100 subscribers (no credit card required)

Re: Simplio 15K tradeline?

Jnbmom — Mon, 29 Jul 2019 16:43:43 GMT

@Anonymous wrote:
https://shopsimplio.com/product/yearly-membership/

I just got an email about this. I have not tried it. Anyone else hear of them or have any experience?

Just say no. There are much better reputable cards you can get.

Re: Simplio 15K tradeline?

BallBounces — Mon, 29 Jul 2019 19:35:57 GMT

Welcome OP. Since you've asked for opinions, I will give mine.

These merchandise lines are, generally speaking, a terrible idea. There is almost always a better alternative to reach whatever short term goal someone using them is trying to achieve. I would virtually NEVER recommend ANY of them to ANYONE. And this one is particularly bad for a few reasons (single reporting, lack of track record, etc)

<Mod edit: If you have concerns that are outside of the topic of this thread please contact a moderator directly by PM or use the 'Report Inappropriate Content' option. --UB>

Re: Simplio 15K tradeline?

BallBounces — Mon, 29 Jul 2019 17:41:47 GMT

@chhull00 wrote:

but their annual fee is on sale, should get some at 29.00 , im going o wait for 14.99

The next 100 callers get it free!

Re: Simplio 15K tradeline?

coreysw12 — Tue, 30 Jul 2019 17:59:44 GMT

@BallBounces wrote:
@chhull00 wrote:
but their annual fee is on sale, should get some at 29.00 , im going o wait for 14.99
The next 100 callers get it free!

"the fee is on sale"

But wait, there's more! For a limited time, you can get nothing (a $0 value!) for only $14.99! That's a savings of over $14 below our regular price!

Re: Simplio 15K tradeline?

Remedios — Tue, 30 Jul 2019 18:03:48 GMT

I have organic dislike for TLs like this but lets skip mocking and remain courteous, please.

I'd hate to see the thread locked before reasonable explanations why this is not such a good idea are given to OP and anyone else who might be considering it.

Re: Simplio 15K tradeline?

Anonymous — Wed, 31 Jul 2019 15:14:41 GMT

Actually to my Understanding it's NOT 15K... they have an underwriting team.

I got $3.5K which i though was flat but my cousin just signed up and only got $750... from what it seems to us it's based on credit history, simliar revolving accounts (he also gor $700 from fingerhut) and how long yuou have been a member with them.