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Stumbled upon a new credit card called Tomo. Should I get this as my FIRST card?

Rebuild2022
Super Contributor

Re: Anyone here have a TOMO credit card and have it reporting to credit bureaus?

Hi @thornback  so far Tomo did not report on my TU or EX. I have not bothered to check EQ. They gave me $500 CL which is very small to justify the use of the card. Couple of weeks ago I sent them a request for CLI and still waiting to hear back from them.  I am going to sock drawer the card if they do not give CLI and/or does not report to Credit Reports to help build the credit. Then there is no use for the card with that low limit.

Gardening since 08/2020
Message 51 of 85
thornback
Senior Contributor

Re: Anyone here have a TOMO credit card and have it reporting to credit bureaus?


@Rebuild2022 wrote:

Hi @thornback  so far Tomo did not report on my TU or EX. I have not bothered to check EQ. They gave me $500 CL which is very small to justify the use of the card. Couple of weeks ago I sent them a request for CLI and still waiting to hear back from them.  I am going to sock drawer the card if they do not give CLI and/or does not report to Credit Reports to help build the credit. Then there is no use for the card with that low limit.


Thanks so much for responding! Sorry the card / issuer seems a bit lackluster so far - maybe they'll improve with time... but I agree, if they don't report what's the point (unless you want a hidden tradeline)?  And what's up with with being non-responsive? Horrible.

 

 @MRBLR was actually the one interested in more info for this card so may have more Qs for you. 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 11/2020: EX 780 ✦ EQ 771 ✦ TU 781
Current FICO 9s | 11/2020: EX 793 ✦ EQ 780 ✦ TU 778
2020 Goal Score | 800s


My AAoA: 3.8 years not incl. AU / 4 years incl. AU
My AoOA: 7.10 years not incl. AU / 9.10 years incl. AU
Inquiries: EX 0/6 | 1/12 ✦ EQ 1/6 | 2/12 ✦ TU 0/6 | 1/12
Report Status: Clean


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 52 of 85
pip3man
Valued Contributor

Re: Anyone here have a TOMO credit card and have it reporting to credit bureaus?

I've had this card since Nov 2020 and can confirm that as of today Feb 2021, it still hasn't been reported to any of the 3 bureaus. At this point, I rather it not reporting cos my limit is a measly $500 and I hate that the card requires weekly payments (I get paid bi-weekly). Also if u need to contact customer service for anything, it has to be done via email. I think that was the last straw for me...

Macy's AMEX $47,000| Citi $13,000| CapOne $18,000| Chase $25,000| SYNCB $53,000| Fidelity $7800| Discover $3,000| NASA FCU $3,500| BestBuy $6,100| Barclay $4,400| TD Bank $1,000|

Starting Score: 490
Current Score: EQ 728 (681 as of 07/30/14) EX 721 TU 735 (669 as of 07/30/14)
Goal Score: 780

Take the myFICO Fitness Challenge
Message 53 of 85
thornback
Senior Contributor

Re: Anyone here have a TOMO credit card and have it reporting to credit bureaus?


@pip3man wrote:

I've had this card since Nov 2020 and can confirm that as of today Feb 2021, it still hasn't been reported to any of the 3 bureaus. At this point, I rather it not reporting cos my limit is a measly $500 and I hate that the card requires weekly payments (I get paid bi-weekly). Also if u need to contact customer service for anything, it has to be done via email. I think that was the last straw for me...


Wow... that's a shame.  And it requires weekly payments - do you mean that is part of the t&c or because the limit is low you have pay mulple times per cycle?

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 11/2020: EX 780 ✦ EQ 771 ✦ TU 781
Current FICO 9s | 11/2020: EX 793 ✦ EQ 780 ✦ TU 778
2020 Goal Score | 800s


My AAoA: 3.8 years not incl. AU / 4 years incl. AU
My AoOA: 7.10 years not incl. AU / 9.10 years incl. AU
Inquiries: EX 0/6 | 1/12 ✦ EQ 1/6 | 2/12 ✦ TU 0/6 | 1/12
Report Status: Clean


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 54 of 85
MRBLR
Valued Member

Re: Anyone here have a TOMO credit card and have it reporting to credit bureaus?

Thank you all for the replies. I have the card as well but is still not reporting to the credit bureaus and based on what I am reading now doesn't look like it's going to happen. In the drawer it goes lol.



Apple Card | CL $5,750MLife Mastercard | CL $12,250Barclaycard | CL $2,000Neiman Marcus | CL $3,000Discover | CL $1,200Home Depot | CL $500Paypal | CL $300Target | CL $200Nordstrom | CL $1,500Credit One | CL $1,000Walmart | CL $300Mission Lane | CL $600Venmo | CL $250

Message 55 of 85
MrNeo
Contributor

Re: Anyone here have a TOMO credit card and have it reporting to credit bureaus?

Hi, I have had it since November 2020.  I can confirm, it does NOT report to the big 3.  I have a 5k limit.  The weekly auto pay, it's blah.... in the sock drawer.

 

Message 56 of 85
Rebuild2022
Super Contributor

Re: Anyone here have a TOMO credit card and have it reporting to credit bureaus?

Credit Limit on my card is only $500. It is so easy to max it out. There is no confidence they will give CLI on my card. It is not reported so it is not going to help much with building credit. I am spending few dollars on it each week and paying it off. If they ever report to Credit Reports there will be a positive history. If they do not report then it is just another card in the sock drawer. Either way no lose or no gain at this point for having this card. It is too bad, they announced the card with a big bang but they did not deliver it so far.

Gardening since 08/2020
Message 57 of 85
TRICKY504
Contributor

Re: Stumbled upon a new credit card called Tomo. Should I get this as my FIRST card?

Great info bro!!! It's a no go

Message 58 of 85
Jesse1043
New Visitor

Re: Stumbled upon a new credit card called Tomo. Should I get this as my FIRST card?

I love this card!! No problems at all!! 

Message 59 of 85
pip3man
Valued Contributor

Re: Anyone here have a TOMO credit card and have it reporting to credit bureaus?


@thornback wrote:

@pip3man wrote:

I've had this card since Nov 2020 and can confirm that as of today Feb 2021, it still hasn't been reported to any of the 3 bureaus. At this point, I rather it not reporting cos my limit is a measly $500 and I hate that the card requires weekly payments (I get paid bi-weekly). Also if u need to contact customer service for anything, it has to be done via email. I think that was the last straw for me...


Wow... that's a shame.  And it requires weekly payments - do you mean that is part of the t&c or because the limit is low you have pay mulple times per cycle?


It's an actual requirement of the card as well as the T&C. You are required to make weekly payments either in 25%, 50%, 75% or 100% of your total balance. The account is set up with weekly autopay by default so you can't even cancel or have any control over when it triggers. Even your bank accounts that you provide as part of the account opening process, you have no ability to delete or unlink them afterwards. IMO, the only positive about the card is the fact they don't pull credit and you get 1% cash back which is pretty standard these days.

Macy's AMEX $47,000| Citi $13,000| CapOne $18,000| Chase $25,000| SYNCB $53,000| Fidelity $7800| Discover $3,000| NASA FCU $3,500| BestBuy $6,100| Barclay $4,400| TD Bank $1,000|

Starting Score: 490
Current Score: EQ 728 (681 as of 07/30/14) EX 721 TU 735 (669 as of 07/30/14)
Goal Score: 780

Take the myFICO Fitness Challenge
Message 60 of 85
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