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Grow Credit MasterCard

Rebuild2022
Super Contributor

Grow Credit MasterCard

Recently I came across Grow Credit MasterCard. It is an interesting card. For those who are building or rebuiling this card might be a quick and easy way to add an extra revolving major tradeline. It is easy to get apporved. Reports to all 3 bureasu. It is free for the basic account. It has promising features and worth looking into.

Gardening since 08/2020
9 REPLIES 9
wasCB14
Super Contributor

Re: Grow Credit MasterCard

"Free" but a $15 monthly spend cap unless you pay $4.99+ per month.

 

An interesting idea by apparently restricting purchases to streaming services. They can probably buy streaming memberships in bulk at a discounted rate or negotiate some sort of contingency payment system with the services. The services keep a customer who might need to cancel to save money or get a new customer paying an amount above their marginal costs.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 2 of 10
Wavester64
Valued Contributor

Re: Grow Credit MasterCard


@Rebuild2022 wrote:

Recently I came across Grow Credit MasterCard. It is an interesting card. For those who are building or rebuiling this card might be a quick and easy way to add an extra revolving major tradeline. It is easy to get apporved. Reports to all 3 bureasu. It is free for the basic account. It has promising features and worth looking into.


I found it interesting that with the FREE tier, they provide a free monthly FICO score. When I zoomed in on the picture of the score they provide, it said EQ F08.  🤔







Potential Future Cards
Message 3 of 10
Rebuild2022
Super Contributor

Re: Grow Credit MasterCard

For some one starting out or rebuilding this card is works just fine. It reports as a Major MasterCard. FICO does not care about the limit any way. Their Free Tier is good for 12 months. Some one looking for a major revolver they dont have to goto OpenSky or other sub prime cards. I dont need one. But if  I needed one this card would be definitely in my shopping list.

Gardening since 08/2020
Message 4 of 10
wasCB14
Super Contributor

Re: Grow Credit MasterCard

I wonder how utilization reports. If the spending limit is $15, does $9.99 for Netflix take someone to 66% utilization? Or maybe they do it as a charge card.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 5 of 10
Rebuild2022
Super Contributor

Re: Grow Credit MasterCard


@wasCB14 wrote:

I wonder how utilization reports. If the spending limit is $15, does $9.99 for Netflix take someone to 66% utilization? Or maybe they do it as a charge card.


To be honest, I have no idea. Util should not matter if we pay off before the statement cuts. That way it still reports as on time payment for 12 months. Looks like they are new company and once they get the footing in the market they might add more features for their product. For now it is low risk, free of AF, only soft pull for approval and more than all it is some thing we all are using any way netflix or some other service. I dont need a new account. Otherwise this is some thing I would go for it.

Gardening since 08/2020
Message 6 of 10
Overmedicated
Community Leader
Valued Contributor

Re: Grow Credit MasterCard

Copied and pasted from another site:

 

Credit limits on the Grow Credit Mastercard are also unusually tiny. Consumers who choose the free version, for example, will initially be given a maximum of just $20 a month to spend. Meanwhile, a monthly fee-based version that costs $4.99 a month (around $60 a year) gives cardholders a starting credit limit of $50, with the ability to eventually earn a maximum credit limit of $600.

 

The card is also designed to be used like a debit card, rather than a credit card. As a result, it doesn’t charge an APR.

FICO 8
Message 7 of 10
LaHossBoss
Senior Contributor

Re: Grow Credit MasterCard

Interesting card.

 

Couple things:

 

Does not report to TU

 

Not available in all 50 states (not available in my home state)

 

Not sure if they plan on expanding their reporting to TU later on and possibly adding additional states to their offering, but hopefully!

 

Also, their $150 limitbplan for $9.99/mo is to use towards your cell bill. Ifk if I am unusual, but my cell bill is much jigher than that. I wonder if that means you could not use that tier unless you are paying your cell bill with it? I have loads of streaming sevuces that $50/mo would not cover. Anyway, interesting concept! Would be initeresting to see how they report util.




Starting Score: 2•20 | EQ 550 | TU 498 | EX 505
Current Score: 4•21 | EQ [F8 651] [F9 651] [EQ5 684] [VS3 630] | TU [F8 717] [F9 692] [TU4 723] [VS3 639] | EX [F8 718] [F9 673] [EX2 681] [VS3 675]
Goal Score: 670 [X] TU [X] EX


Take the myFICO Fitness Challenge

SO Starting Score: 2•20 | EQ 502 | TU 484 | EX 521
SO Current Score: 4•21 | EQ [F8 661] [F9 622] [EQ5 677] [VS3 646] | TU [F8 705] [F9 673] [TU4 639] [VS3 627] [VS4 666] | EX [F8 719] [F9 708] [EX2 679] [VS3 665]
Goal Score: 670 [X] TU [X] EX


Take the myFICO Fitness Challenge



Message 8 of 10
BB30
New Member

Re: Grow Credit MasterCard

Yoy may already know this now but for anyone else that reads this thread, your limit is actually reported as $200 for the free tier. I signed up and that's what my statement says.  Ut they only let you access $17 of it. Not sure how that works but that's what it is!

Message 9 of 10
800FICOGoal
Established Contributor

Re: Grow Credit MasterCard

Just to update, they now report to TU.

 

help.growcredit.com/en/articles/4257429-which-credit-bureaus-does-grow-credit-report-to

We report to Equifax, Experian and Trans Union, three of the largest credit bureaus in the world.

 












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