Petal Card minimum payment

[Anonymous]

I have a Petal Card for a line of $2500. With most of my cards i usually max them out but pay them before the due date every month so it doesn’t have a impact on my credit.
But back in May I had lost my job, so I wasn’t able to make payment that month and june. But when I finally was employed again, i received a collections call and they said my minimum payment was $644???
I don’t understand how my minimum payment even raised to that much since my limit is only $2.5k ?? Petals minimum payment policy even states :
If your Statement Balance is greater than $25, the minimum payment will either be (a) 2% of your previous Statement Balance plus new interest or (b) $25—whichever is greater.
If your Statement Balance is less than $25, your minimum payment will be equal to your Statement Balance.
If you have any balances that are past-due (i.e., you missed a past payment), they will also be added to your minimum payment due.

Since my minimum payment was so high , and there was no way for me to make partial payments I’ve been just putting off the payments completely. Now my minimum payment is $1.1k. What should i do? I really don’t understand how this minimum is being calculated correctly.

[Peteyglad]

From the sounds of it you are dealing with a collections agency and not Petal themselves. Is this correct?

[Jnbmom]

What is the balance on the card? Your limit has nothing to do with your balance. If you are behind depending on what your balance is and late fees, your minimum will increase alot. And not paying it's only going to get worse

[Anonymous]

I’m dealing with petal, but a collection agency has been calling me about it. I don’t know why, I even called petal about if they sent my account to collections and they said no and I said well who did i give my card number to then? then they tried to assure me that they did send it ... but idk.

But long story short still dealing with petal

[Anonymous]

well as of right now my balance is $2707 out of $2.5k ):

[AverageJoesCredit]

Try not to max out your cards and then pay them unless you are 100% sure you have the money to pay in full at end of month. That can be a dangerous game as you csn see in regards to petal. Sorry to here about your troubles hope you clear it up

[Anonymous]

the first payment i missed, the minimum payment raised from $45 to $291, then to $644, and now $1.1k . my beginning balance that i had when i first failed to make payment was $2.3k.

also interest is $50-55 each month if i use my entire line of credit. so i don’t understand how the min. payments got this high after 3 missed payments.

[Anonymous]

ya.. i wasn’t planning on losing my job 😅 but stuff happens unfortunately

[AverageJoesCredit]

Check their terms and agreement. Sounds crazy but perhaps possible?

[Brian_Earl_Spilner]

You keep stating the same amounts, but please clarify, what is Petal saying the minimum due is now? If it's for the same amount, they may have contracted a collection agency to collect for them, similar to what Amex does. It can be in collections even though you can log in to your account to make payments or speak to customer service. If that's the case, the additional amount is the collection fees from the agency. You can request Petal to pull it back and possibly not have to pay those fees, or they could be non-negotiable now and part of what you owe. The CSR may not have known so you should call and escalate to a manager to find out for sure.