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Simplio 15K tradeline?

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New Visitor

Simplio 15K tradeline?

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?

Message 1 of 13
12 REPLIES 12
Community Leader
Senior Contributor

Re: Simplio 15K tradeline?

Yes run don't walk.

 

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

 

 

EXP 763 TU 793 EQ 734
Message 2 of 13
New Visitor

Re: Simplio 15K tradeline?

Thanks. Good candidate for just open credit? Any spending requirements?
Message 3 of 13
New Visitor

Re: Simplio 15K tradeline?

Thanks.
Message 4 of 13
Frequent Contributor

Re: Simplio 15K tradeline?


@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



Message 5 of 13
Frequent Contributor

Re: Simplio 15K tradeline?


@CoolB 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.

    Combined Loan Balances: $39k / $76k
    Combined CL: $26.9k (Util. varies between 15-40% each month)

Fico 8 Scores:
12/2018:
09/2019:
7 derog. (all settled 1/2019)     |     Inquiries: 1, 4, 5     |     AoOA: 10.2yr     |     AAoA: 5.4yr     |     AoYA: 0.0yr
Message 6 of 13

Re: Simplio 15K tradeline?


@CoolB 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)

Message 7 of 13
Community Leader
Senior Contributor

Re: Simplio 15K tradeline?


@CoolB 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.

EXP 763 TU 793 EQ 734
Message 8 of 13
Established Contributor

Re: Simplio 15K tradeline?

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>

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Message 9 of 13
Established Contributor

Re: Simplio 15K tradeline?


@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!

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Message 10 of 13
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