Today, December 14, 2020 I found a new app (Grain) while searching for another app.
Grain is promoted as a Digital Credit Card App with no credit check or hard inquiry on your credit report. After I read the reviews I was curious to see what the results for me would be. Here are my results.
I went through the process of filling out the online form. From there the next step was the bank account verification. You must have an active bank account because Grain uses your bank account information to determine the amount that you will be approved for. They ask for your primary checking account.
I did have a problem with the software (Plaid) that Grain uses to check your bank account. Seems one bank account was not compatible with the Plaid software for approval. You can experiment as I did.
Next, after waiting I was offered a credit line of $150. I declined the offer and was asked why I declined and I gave my reason. So I logged out and signed in again only to still be met with the $150 line of credit offer again. This time I accepted and Grain wanted me to deposit $150 into my own checking account to use as a line of credit. I declined a second time and gave my reason on why I declined.
Finally, I tried this option also because I thought the offer was for a digital credit card. Not a line of credit to go to your checking account.
Below are some Facts about Grain.
Another reason for declining is because I have other options that will give me a greater return.
Grain promotes:
A Financial Technology company
Digital credit card that lives on your phone, not your wallet. The credit offer is based on your cash flow. All payments and credit activity happens between the app and your linked account.
Getting credit within minutes by linking your primary checking account. No credit check required.
Report activity to All three credit bureaus.
AutoPay
They don’t encourage you to spend more.
You can track your credit score.
Personalized credit tips.
Your data is protected.
12% APR Finance Charge on Credit Advances
Credit offer dependent
Grain is headquartered at:
505 14th St
Suite 900
Oakland, CA 94612
Grain Help Line:
1(833)755-0809
Grain Help Email:
help@trygrain.com
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