I just placed an order on birkenstock.in and it was processed through simpl. Seems like a BNPL app but I paid the full purchase amount using my credit card. Did I just take a loan or something?
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What is SIMPL?
- Thread starter theglobalinvestor
- Start date
ᏰᏋᎥᏁᎶᎥᏁፈᎧᎶ
TF Legend
Simpl - Buy Now Pay Later App | Pay in 3 EMIs | No Extra Cost
Simpl is the fastest way of shopping online. Buy anything with 1-tap and Pay later or pay in 3 EMIs with no extra cost. Available on 26000+ brands.
getsimpl.com
brightknight
TF Ace
you paid through credit card? i have been using simpl for an year. It just that you pay via simpl app (virtual credit sort off with two week biling cycle) & simpl generate bills in a fortnight. In my case 15th & 31st of month the bill is generated and then i paid the simpl bill via credit card later on in simpl app itself.
Also it has never been reported to CIBIL.
No
It is a credit line ghat isn't reported to the buereu.
I have a 16k limit and I pay all my utilities bills through this and it gives me extra 20 days of credit cycle
Also I repaid my latest simpl bill through magnus which surprisingly gave me base ER points for it
If you are able to match the simple due date just after your credit card statement has been generated you cab get upto 60 days of credit
brightknight
TF Ace
isn't credit line supposed to have interest on used amount?
No
Simpl isn't a credit line.It charges a flat fee in case of late payment.
But it earns money through affiliate marketing.
It places ads of different brands and provides discount for those brands when paid through simpl
brightknight
TF Ace
yes. that's why it's not credit line either as someone said above.
That's why it doesn't report it .
I don't think they charge interest on default as well.
I was going through their website could only see a flat fee mentioned
1200+ gst or something like that
I paid full amount directly through merchant website. Did not sign up on simpl or download any app.
If you clicked on simpl they run an eligibility check in the background and issue a credit limit to you.
Now if you will download the app and see you would see that there is abtransaction posted and money due
What MCC code is used here when making payment of SIMPL?
I checked the statement of magnus and it mentioned Utilities and the customer care guy told me that it is eligible for base rewards and milestone rewards as well.
Not only that simpl doesn't charge any convenience fee on utility payments unlike paytm and mobikwik
But the full amount has already been deducted from my credit card. So what can be due?
pprakash11
TF Prestige
Installed simpl in July 2021, it's been almost two years. CL is 25K.
Max Credit Limit they give is 25K.
But unfortunately in March 2023 one 23k fraud happened with me through IVR and OTP game (for someone's electricity bill), after that I stopped using simpl.
They have also removed billbox option for me and temporarily blocked my account since 3 months.
Lucky I was that they reversed my fraud amount 23K, after tonnes of verifications emails and calls within 2 days of fraud.
Max Credit Limit they give is 25K.
But unfortunately in March 2023 one 23k fraud happened with me through IVR and OTP game (for someone's electricity bill), after that I stopped using simpl.
They have also removed billbox option for me and temporarily blocked my account since 3 months.
Lucky I was that they reversed my fraud amount 23K, after tonnes of verifications emails and calls within 2 days of fraud.
Because you paid it that's why
Otherwise it would have shown as outstanding
Abhishek69
TF Neo
Simpl is very simple for the fraudster to use with just one otp and done, the transaction goes through. Then the Simpl will blame for us on disclosing the otp on IVR. Even after reporting as a fraud the very next minute of the transaction they don't do anything.
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