Divvy Credit Card Review

Divvy Credit Card Review [Pros, Cons, and Requirements 2021]

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Divvy Credit Card Review

Running a small business can be challenging. Most businesses need access to credit of some sort in order to have a healthy cash flow from week to week. It is also necessary to track expenses closely, although the process can be tedious when doing it manually. Paying for separate services to provide these capabilities can often be expensive. Fortunately, Divvy can meet all of these needs for small businesses at a reasonable price. 

Let’s take a close look at Divvy, so you can decide whether or not the platform is a good fit for your company’s needs. 

Services Offered

The major services Divvy offers include:

  • Business lines of credit, credit card
  • Intuitive expense reporting
  • Powerful budgeting tools 

Apply for a no credit check business line of credit here.

Divvy Pros and Cons

We will discuss many of the features and services of Divvy in a moment, but first, let’s take a quick look at some of the platform’s major pros and cons. 

Pros

  • Good Budgeting: The presence of a powerful budgeting tool is one of Divvy’s most notable advantages. Various budgeting schemes are available and can be tailored to the needs of the customer. Overall, it aids users in controlling their spending and keeping track of their overall expenditures.
  • Receipt Tracking: Divvy has a handy receipt tracking feature in its app that allows receipts to be snapped to aid tracking. It is primarily used by project managers and team leaders to keep track of both daily and monthly expenses incurred over a given period.
  • Expense Management: Divvy has an expense management feature that allows you to track and manage your expenses. This tool is free to all of its customers and assists in reducing unnecessary spending, as well as the tedious task of tracking expenses manually.
  • Rewards and Points: Divvy rewards its customers who make timely payments with points that are continually boosted with an equivalent increase with timely payback. These points and rewards are typically in the form of travel deals, cashback, credit card statements, and gift cards.
  • Authenticated Security: Passing through the Divvy firewall protection requires authentication. This is a tough security measure that is difficult to circumvent, and this courtesy extends to its mobile software interface, which features a fingerprint sensor, face lock, touch identification (ID) password, and other features.

Cons

  • Unfavorable for Lower Budgets: Divvy services are best enjoyed by customers with high-end budgets. The reason for this is that if a person spends less than $5,000 on credit each month, they will be unable to access the majority of the free services provided by the credit provider.
  • Automatic Payment Withdrawal: While Divvy does not charge transaction fees, they do withdraw credit from customers without notice. The only hint is that this line of credit will withdraw these funds on the due date, and time specified on the statement of credit. Customers may bear some financial burden as a result of this unintentional repayment.
  • Communication Issue: Rather than contacting customers directly, Divvy communicates with vendors most of the time. This has resulted in several squabbles between them (Divvy) and their clients. As a result, issues that should have been avoided arises.

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What is Divvy?

Divvy is an online financial services platform that was established in 2016 as a private-owned business establishment. The company is headquartered in Draper City, Utah, and operates under the vendor trademark Divvy Pay Incorporation.

It is a business line of credit and credit card provider that offers a user-friendly billing interface. The company uses the modernized system of credit management to deliver long-lasting credit outcomes. More so, all of its users enjoy nice financial rewards perks and bonuses upon making regular and constant cash deposits.

A Divvy cardholder is also entitled to enjoy special free services and is also assigned with a suitable budget plan, however, this financial establishment does charge transaction fees for every purchase made. This is one of the few avenues through which Divvy makes earnings for its provided services.

Eligibility Requirements

To check if a firm is eligible for Divvy credit, the first action required is to just sign up for a demo of the platform. Alternatively, prospective business credit lendees can also apply for credit. One great thing about this platform is that Divvy doesn’t take into account the size of the company during the deliberation process.

The application procedures are simple and usually require clients to provide basic financial information which includes a business executive summary, monthly or daily wages, and banking details. All of these requirements are what are used by Divvy to determine the size of credit the business is eligible for. Divvy normally processes the application and sends feedback within a short period which typically ranges from 24 hours – 72 hours.

It is important to note that Divvy does assess applicants’ accounts in order to determine their source of earnings. If the person in question has more than one bank account, then Divvy will use one checking account out of them to analyze and verify the person’s source of income. 

Divvy offers credit applicants a credit limit of about 30% of the original fee. This is done after they averaged the credit user’s cash deposits for each month and the result is that its client will end up paying all monthly dues in full. Fortunately, this credit service provider pays no regard to credit scores so having a bad one is not an issue to worry about in this case. Nevertheless, Divvy does requires deposits for secured credit lines.

Divvy credit card requirements:

  • Business executive summary
  • Monthly or daily wages
  • Banking details

Features of Divvy

Expense Management 

Divvy lines of credit offer expense management to help its customers keep track of expenses. This platform is a reality check that helps users to manage expenses in their preferred financial aspects.

How does Divvy do this? It assigns a MasterCard to each of its clients, and this comes with a different budgeting plan. Hence, the budget for one of its employees will be different from that of another, and once an expense comes in unexpectedly, the limit of the budget is adjusted to accommodate it. Additionally, users can also segment spending as well as upload receipts on the software application.

Divvy assists employers in managing expenses with their employees, and the majority of users agree that it is an excellent tool for corporate and small business budgets.

Hint: Divvy MasterCard users can create their fully personalized expense management by communicating their requirement parameters to their account manager, who is in charge of the process. 

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Divvy Virtual Card

Divvy has two types of cards, a traditional plastic credit card as well as a virtual one that only exists online. The virtual card can only be accessed on mobile platforms and it’s different from its physical counterpart. It mainly plays a role in a temporarily subscribed deal which is usually caused by users who mostly don’t remember to cancel their respective accounts due. 

Divvy Business Credit Card

Credit Card Review 

Divvy MasterCard has a credit card review which is important in the case of card concession or compromise. Users who bump into this problem can save themselves weeks of waiting for the arrival of a new card by generating an instant 16-digit card number. This card functions just like that of the physical one though it’s restricted to a certain limit.

Divvy Card Reward Points

One of the most exciting features of the DivvyCard is its reward points system. The general rule for earning more reward points is that the more a user frequently pays off credits when due the better its value will become. These points are majorly categorized into tiers which can be spent on cashback, travel, credit statement, and gift cards.

It is easy to see how these reward points can come in handy. For example, a user who spent around $2500 in eatery spending for an account that is frequently paid every week stands a chance to earn around $104 for cash back, $100 for credit statement, $102 for gift cards, and $200 for travel.

Automated Expenses

Through its automated expense reporting, the Divvy credit card saves its users all of the time and tedium of making these reports manually. It does this by acquiring user’s real-time transaction data and automatically reporting them. In short, users can also opt to shoot a photo of their receipt though this is optional.

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Customized Budgeting Tools

Divvy comes with budgeting tools that are suitable for different categories of budget. This is aimed at managing spending, and users can assign various budgets for different reasons like event, program, project, personal, team, and so on. What this budgeting tool does is that it creates spending limits for the user. This feature is available on mobile apps and budgets, and can also be edited on users’ mobile devices if the need arises.

Sending and Receiving Funds

Divvy has a user-friendly interface for sending and receiving funds. Though it may not be the best on the market, this credit card does this action through a simple tab. Team managers and group financial leaders can leverage Divvy to send due payments to their respective teams on either a daily or monthly basis. 

Bill Payment

The Divvy platform can be used to pay bills virtually. Invoices can also be paid with this line of credit, and the process is simple and painless. To pay bills with the Divvy app, you must first enter the vendor and payment route. Qualified users can take advantage of Divvy’s “Flex Limit,” which is a channel through which the financial brand allows vendors to be paid before charging users for their services. Once the vendor and payment are provided, Divvy will take care of the rest.

Security

Divvy has excellent financial security features that are available to all of its customers. Its security meets credit card companies’ standards for authentication and firewall protection; to access sensitive data, various verification processes must be completed.

Divvy’s mobile platform employs fingerprint sensor security, face identification (face ID), and touch ID.

Customer Service

It is simple to get in touch with Divvy. You can do it in one of the following ways:

There haven’t been any major complaints about Divvy’s customer service. The response time is reasonable, and the customer service team is generally helpful. Customers should, however, first check the support center FAQs for answers before contacting customer service.

Divvy Credit Card Reviews

Divvy Credit Card Reviews

Divvy has a fantastic rating of 4.2 stars out of 5 on Trustpilot. This is based on 145 total user reviews with 71 percent of them being excellent, 8 percent being good, 6 percent being average, 3 percent being poor, and 12 percent being bad reviews.

Alternatives for Divvy

Brex and Stripe credits are two prominent Divvy alternatives. Both are free of foreign transaction fees. Stripe is a global online payment platform, whereas Brex is a MasterCard credit line that offers virtual cards as well as other types of services. To make the best decision for your company, you should carefully consider all of these financial services platform options before deciding on one.

Apply for a Divvy line of credit.

Frequently Asked Questions (Faq)

Is Divvy A Reputable Company?

Is Divvy legit? Divvy is a young financial brand that offers one of America’s most trusted credit lines. All of its terms and conditions can be found on its official website. The terms offered by Divvy aren’t much different from those offered by most institutions providing similar credit card services. All requests, like those on other platforms, are subject to pre-qualification, with those who do not qualify ineligible for such a line of credit.

Is Divvy safe?

The security of the online financial services platforms is a major concern for most small businesses, particularly those that operate primarily online. Fortunately, Divvy protects users’ personal information with 256-bit Secure Socket Layer (SSL) encryption. Users’ data is stored in highly secure data centers that employ cutting-edge electronic surveillance and multi-factor access control systems.

What Major Advantages Does Divvy Have Over Other Line of Credits?

While some credit cards include virtual cards, very few of them provide excellent expense management. This is a feature that enables Divvy to truly stand out among its financial services competitors. 

What is The Divvy Credit Card Customer Service Number?

The Divvy phone number is 855-229-3111.

What Are The Divvy Business Credit Card Requirements?

The Divvy credit card requirements are:

  • Business executive summary
  • Monthly or daily wages
  • Banking details

What Are The Divvy Credit Score Requirements?

What are the Divvy credit requirements? Thankfully, Divvy does not take your credit score into consideration.

Is Divvy Credit Card Legit?

Divvy is a legitimate business offering business lines of credit and credit cards.

Final Words

Divvy is a great choice for companies looking for a comprehensive, all-in-one financial services platform. Between ease of access to credit and powerful financial and expense management tools, the app can really help make financial management easy for businesses that don’t have a lot of time or resources to commit to these activities. So, check out Divvy today, and see if it is a good choice for your team. 

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