Great card but the worst app I’ve ever used
Exactly what the title says: great card but a truly awful..slow..glitchy app.
If this is the future of credit, god help us.
First, the app keeps on logging me out and turning FaceID off. I use a strong, complex password that I keep in a Password manager. To make getting to my information easier for me, I use FaceID. Petal used to allow me to remain logged in but just require FaceID to open the app. Now, even after logging in and turning FaceID back on, it proceeds to log me out, turn it off, and require me to enter a code that is sent via text. You broke something - fix it!
Second, I applied after getting one of those promo offers from Petal - get $50 or 100 statement credit if you apply within a certain deadline. So I applied; credit score was 756, I’ve got 5 current cards, with credit lines from $2000-6000. My utilization was around 10-12% but only on cards with 0% financing offers (i.e. It’s foolish not to take advantage of such deals), otherwise I don’t carry a balance. Have perfect payment history. Length of credit history is lower; my oldest card is about 3.5 years old. AND what happens? petal takes their time reviewing my application. I was ultimately approved for their Petal2 with $1500 credit limit, but a ridiculous 26.99% rate. But now we’re after that promo date, so no bonus credit for applying for me. Plus the short dip in score because of their hard pull.
The obscene 26.99% interest is strong incentive not to ever carry a balance, so that’s a good thing in general. I just ask myself - So why would I use this card? - oh the rewards - well, another bait and switch - their solicitation boasted 1.5% cash back, but once again, surprise! it’s just 1% cash back, and after 6 consecutive on-time monthly payments, it becomes 1.25%, and after another 6 monthly payments, 1.5%. Millennial
Gamification of everything is just stupid. Sorry kids, you’re not inventing anything new, nor innovating, you’re just attempting to insert yourself into this industry and you clearly don’t know what you’re doing. Sure, reward good behavior; whatever - but don’t bait and switch. There are laws about these things, perhaps get competent legal advice after you get some competent programmers.
but I digress - so Now, I’ve paid my entire balance every month, and they show me as 3 of 6 into my journey to better rewards; however their credit limit boost section shows me as 5 of 6 months along in this program, where as long as I pay my bill on time and at least a certain amount (or all) of the balance, and keep my credit score above 730, I’ll get a credit line increase after 6 months… so that will happen (we’ll see how much this is, though it’s of little value to me beyond just increasing my credit available…) but their system for allowing me to get the rewards rates they trumpeted in their solicitation materials (1.5%) is still distant. And honestly 1.5% cash back isn’t even that great. I already get that from My first card, I get more than that from my Apple Card, and my Discover card gets me 1% and 5% in certain categories each quarter. All three of those cards gave me higher limits and lower interest rates, with the last card even giving me 14 months at 0% APR. I’m also on track to have gotten $125+ cash back my first year, and I haven’t even taken advantage of all the offers (gas and warehouse stores that aren't Costco aren’t a part of my spending). Thankfully the Petal2 card doesn’t charge a fee… so I’ll keep it and use it minimally so as not to lose the credit line availability but it’s not very compelling.
Second, I applied after getting one of those promo offers from Petal - get $50 or 100 statement credit if you apply within a certain deadline. So I applied; credit score was 756, I’ve got 5 current cards, with credit lines from $2000-6000. My utilization was around 10-12% but only on cards with 0% financing offers (i.e. It’s foolish not to take advantage of such deals), otherwise I don’t carry a balance. Have perfect payment history. Length of credit history is lower; my oldest card is about 3.5 years old. AND what happens? petal takes their time reviewing my application. I was ultimately approved for their Petal2 with $1500 credit limit, but a ridiculous 26.99% rate. But now we’re after that promo date, so no bonus credit for applying for me. Plus the short dip in score because of their hard pull.
The obscene 26.99% interest is strong incentive not to ever carry a balance, so that’s a good thing in general. I just ask myself - So why would I use this card? - oh the rewards - well, another bait and switch - their solicitation boasted 1.5% cash back, but once again, surprise! it’s just 1% cash back, and after 6 consecutive on-time monthly payments, it becomes 1.25%, and after another 6 monthly payments, 1.5%. Millennial
Gamification of everything is just stupid. Sorry kids, you’re not inventing anything new, nor innovating, you’re just attempting to insert yourself into this industry and you clearly don’t know what you’re doing. Sure, reward good behavior; whatever - but don’t bait and switch. There are laws about these things, perhaps get competent legal advice after you get some competent programmers.
but I digress - so Now, I’ve paid my entire balance every month, and they show me as 3 of 6 into my journey to better rewards; however their credit limit boost section shows me as 5 of 6 months along in this program, where as long as I pay my bill on time and at least a certain amount (or all) of the balance, and keep my credit score above 730, I’ll get a credit line increase after 6 months… so that will happen (we’ll see how much this is, though it’s of little value to me beyond just increasing my credit available…) but their system for allowing me to get the rewards rates they trumpeted in their solicitation materials (1.5%) is still distant. And honestly 1.5% cash back isn’t even that great. I already get that from My first card, I get more than that from my Apple Card, and my Discover card gets me 1% and 5% in certain categories each quarter. All three of those cards gave me higher limits and lower interest rates, with the last card even giving me 14 months at 0% APR. I’m also on track to have gotten $125+ cash back my first year, and I haven’t even taken advantage of all the offers (gas and warehouse stores that aren't Costco aren’t a part of my spending). Thankfully the Petal2 card doesn’t charge a fee… so I’ll keep it and use it minimally so as not to lose the credit line availability but it’s not very compelling.
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Petal card
Amazing company helped me out when no one would I would trust them with my life
Love Petal the App not so much
The app will never log in. Every now and then it it will open right away, then other times it’ll take 30 minutes of the wheel of death spinning, and never log in.
App issues
All is good. You never know if the app will open. I have waited over 10 minutes at times then give up. No answer from support yet.
