Are you wondering if Credit Simple is a scam? Despite its popularity among Australians, the company has received numerous negative reviews on sites like ProductReview.com.au.
To help you understand the company and its potential impact on your credit score, we’ve conducted extensive research.
It’s important to remember that your credit score is a crucial factor in determining your ability to borrow money from credit providers.
However, it’s also important to consider the potential long-term consequences of borrowing money and to strive for steady passive income to pay bills.
At the end of this article, I’ll also tell you a passive income idea that can help you pay off debt.
Below is what I’ll cover in the review of Credit Simple:
Table of Contents
What is Credit Simple?
Credit Simple is a consumer credit reporting service offered by illion, a global provider of data analytics and credit reporting services.
It provides individuals with access to their credit scores and credit reports, which include detailed information about their credit history.
Credit Simple also offers credit monitoring and alerts to help consumers stay informed about changes to their credit scores and reports.
It provides tools and resources to help consumers understand and improve their credit, including tips for building and maintaining good credit, managing debt, and dealing with credit-related issues.
Overall, Credit Simple is designed to be an easy-to-use resource for consumers looking to understand and improve their credit and financial well-being.
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How does Credit Simple calculate your credit score?
Your credit score is determined by your credit history, not the assets you own. Credit reporting agencies do not consider things like your mortgage-free house or savings account when calculating your score.
However, because each credit reporting agency uses its own method for calculating credit scores, it’s likely that your score will vary depending on the provider you use. For example, Credit Simple’s credit score range is 0 to 1000, while other companies have ranges above 1000.
Still don’t know how your credit score works? Here’s a guide to help you read your credit score.
Pros
There are several potential benefits to using Credit Simple by illion:
1. Access to credit scores and reports
Credit Simple provides access to credit scores and reports from the major credit reporting agencies, including Equifax, Experian, and TransUnion. This can help consumers understand their credit history and identify any potential issues.
2. Credit monitoring and alerts
Credit Simple offers credit monitoring and alerts to help consumers stay on top of changes to their credit scores and reports. This can be especially useful for detecting potential identity theft or other fraudulent activity.
3. Tools and resources
Credit Simple provides a range of tools and resources to help consumers understand and improve their credit. This can include information on how to build and maintain good credit, tips for managing debt, and resources for dealing with credit-related issues.
4. Convenience
Credit Simple provides a convenient way for consumers to access and review their credit scores and reports, as well as to monitor and track their credit over time.
Overall, Credit Simple by illion can be a useful resource for consumers looking to understand and improve their credit, with a focus on providing easy-to-use tools and resources to help consumers make informed decisions about their credit and financial well-being.
Cons & Complaints
Like any product or service, Credit Simple has some potential drawbacks or limitations to consider:
1. Cost
Credit Simple charges a fee for its services, which may be a drawback for some consumers. It is important for consumers to carefully consider the cost of the service relative to their needs and budget.
2. Limited to credit scores and reports
Credit Simple only provides access to credit scores and reports and does not offer other types of financial services or products. This means that it may not be the right choice for consumers who are looking for a more comprehensive financial management solution.
3. Limited to certain markets
Credit Simple is currently only available in Australia and New Zealand. This means that it may not be an option for consumers in other countries.
4. Credit scores and reports may not be complete
Credit scores and reports can vary depending on the source and the information that is included. It is important for consumers to be aware that their credit scores and reports may not be complete or entirely accurate, and to take steps to ensure that their credit information is up-to-date and accurate.
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Is Credit Simple a scam or legit?
Credit Simple is not a scam. Its parent company illion is a legitimate company that provides a range of credit and financial information services, including credit scores and reports, credit monitoring and alerts, and tools and resources to help consumers understand and improve their credit.
It is a global company that has been in business for more than 25 years and is a leading provider of credit and financial information in Australia, New Zealand, and other markets around the world.
As a credit score agency, Credit Simple won’t engage in any activity of “phishing”. They take your privacy extremely seriously and keep your information secure.
You can check your credit file as many times as you want. This won’t lower your credit score.
But if you apply for lots of credit with a credit provider within a short period of time, your credit score will go down for a while.
While it is always important for consumers to be cautious when considering any financial product or service, Credit Simple is not a scam and appears to be a legitimate company that provides valuable services to its customers.
Can I start a side hustle to pay off debt?
If you don’t want to live with debt, you can start a side hustle to increase your passive income.
The best way to make a stable stream of passive income is to start an affiliate marketing business.
Affiliate Marketing is perfect for anyone who is new to online business.
In fact, of all the online business models I’ve tried, affiliate marketing is the easiest and most rewarding so far.
In affiliate marketing, you can actually run your business almost with zero cost and earn a sustainable passive income to pay for your bills. You don’t need any initial capital and can even do it as a side hustle.
And suppose you really want to learn affiliate marketing and build a business from scratch. In that case, I’d recommend you to get started with the most reputable platform for affiliate marketing: Wealthy Affiliate.
Wealthy Affiliate is an all-in-one platform for building your affiliate marketing business from scratch. It offers you a free account (including a free website) with comprehensive training on SEO (free traffic methods), which enables you to get started with affiliate marketing right away without paying a penny.