How to Get a Petal Card Credit Limit Increase in Minutes
We've all been in a situation where we needed to make a purchase but didn't have enough money for it. Credit cards offer the perfect solution for such times. A helps you take advantage of offers and, with regular payments, you won't incur any interest charges.
The challenge with credit cards is that most of them have a very small limit, which doesn't help much. It takes months of evaluation before you can qualify for a credit limit increase. With DonotPay, you don't have to wait. Get your Petal credit limit increase within minutes, so you can enjoy the benefits of credit spending.
What You Need to Know About WebBank and Petal Credit Cards
Petal is a credit card company owned and managed by WebBank. The bank introduced Petal cards in an effort to help users improve their creditworthiness. Unlike other financial institutions that rely solely on credit scores to determine credit limits, Petal takes into account the users' current financial health to approve and allocate credit.
Petal features two types of cards:
|Between $300-$5,000||Between $300-$10,000|
In addition, Petal charges no interest for payments made on time. Once your application is approved, you'll receive an email noting your credit limit and your annual percentage rate(APR).
APR only applies to late payments/balance carried forward. For example, if you spend $2,500 and only pay $1,000 at the time of your billing, the remaining $1,500 will be carried over to the next payment date and will subsequently incur an interest.
To calculate how much interest you owe, multiply your balance by your daily periodic rate and by the number of days in your billing period. Your daily periodic rate is derived by dividing your APR by the number of days in a given year (365).
Petal credit cards are powered by Visa and can be used anywhere where Visa cards are accepted.
Who Is Eligible for a Credit Limit Increase at Petal?
Any holder of a Petal credit card who has not attained to maximum credit limit is eligible for a credit limit increase. Petal conducts periodic checks to determine which users qualify for a credit limit increase. If you have been actively using your card and making regular payments, you have a higher chance of getting an increased credit limit.
When Can I Request a Credit Card Limit Increase From Petal?
Petal card credit limit increases are automatic. Unlike other banks and credit card service providers, Petal card does not allow users to request a credit limit increase. However, there are other approaches you can take to increase your credit limit at Petal.
What Does Petal Consider Before Giving a Credit Limit Increase?
Petal takes into account a number of factors before they can issue a credit limit increase. To qualify for a credit limit increase, Petal checks for the following:
- Credit score
- Past credit limit
- Credit history
- Payment history
- Card usage
On-time payments and consistency at that increase your credibility and, by default, your chances of getting a higher credit limit. If you're experiencing financial constraints such as a job loss, all you need to do is ensure you pay at least 15% of your balance for six consecutive months to remain in good standing.
How to Increase Your Petal Card Credit Limit on Your Own
Your Petal credit card limit can be increased in one of two ways:
- Automated Credit Limit Increases
Petal conducts regular checks on their users' activity to determine those eligible for a credit limit increase. Use your card more frequently and avoid delinquent charges to qualify for a higher credit limit.
- Participate in the Petal Leap Program
The Leap Program is a program initiated by Petal to help users increase their credit limit by taking part in a few activities. Once Petal calculates how much credit a user is eligible for, they award Vantage points.
Activities in the Leap program include:
- Maintaining a payment streak- Make consistent payments for six consecutive months
- Petal 1 users - Keep Vantage points high, at least no less than 50 points below goal order
- Petal 2 users - Keep Vantage points high, at least no less than 25 points below the goal order
Increase Your Petal Card Credit Limit With the Help of DoNotPay
If you want to request higher credit limits but don't know where to start, DoNotPay has you covered in six easy steps:
- Go to the Credit Limit Increase product on DoNotPay.
- Select which type of card you own and your credit provider.
- Tell us more about your card, such as when you first created this card, your current credit limit, what you would like your new limit to be, your card number, and whether you've missed past payments.
- Tell us more about your current income and expenses and why you would like to request a limit increase.
- Indicate whether you want to allow hard inquiries to be made into your credit history. Upload a copy of your ID and provide your e-signature.
- Submit your task. DoNotPay will deliver the request letter on your behalf. You should hear back from the card provider with confirmation or a request for more information within a few weeks.
DoNotPay can help you increase more than just your Petal card credit limit. Here are other credit cards whose credit limits you can increase with the help of DoNotPay:
- Chase credit card
- Capital One credit card
- American Express credit card
- Apple card credit limit increase
- Bank of America credit card
- Discover credit card
- Citibank credit card
- Wells Fargo credit card
- Credit One credit card
Why Use DoNotPay to Increase Your Petal Card Credit Limit?
You don't have to wait six months or for periodic account screening to qualify for a . With DoNotPay, once you meet the Petal threshold, you can put in a request to have your credit limit increased within minutes.
You don't have to wait for an evaluation. Sign up today, fill in your card details, and let DoNotPay handle the rest for you.