I have decent credit, I tried this card because I'm interested in Fintech and have some roommates whose credit isn't so stellar and I wanted to test the waters at less risk to me before recommending this card to them.
I was started at a $750 credit limit - yes, already pretty laughably low if your score is nice, but a great start for someone who needs credit repair! My score increased during this time, I kept my Petal Card paid in full before the payments were due, and I was in the process of paying down my other cards to the extent that my credit score rose about 71 points and my other card companies offered me increases.
This is where it took a turn for the weird. Petal dropped my limit to $500 - while I had nothing but around $60 unpaid on the card, which I was saving for when the payment was due to show a <10% usage on my TU. No explanation as to why this happened. I called their customer service and the guy on the other end of the line didn't even know what a credit limit increase/decrease was...then he told me to email Petal customer service.
So yeah, a card that penalizes you for your credit score increasing? A card that penalizes you for paying in full and paying down your other cards (which it has access to?). A card that gets your full financial picture and zigs when you zag...which, if you're a vulnerable person repairing your credit, might be the difference between a poor and fair credit score and close the door to opportunities like renting an apartment or financing a car repair?
You're better off getting a secured card with Capital One or Discover. At least they won't tank your credit limit for your responsible credit usage.
Bottom Line: No, I would not recommend this to a friend
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