I just got charged with 488PC petty theft and I was wondering what are my chances of dropping it to an infraction?

Without an attorney, your chances of working a deal for an infraction are very slim. A very persuasive lawyer may be able to work an infraction, depending on the value of the purse. The Penal Code allows prosecutors to reduce theft charges to infractions if the value of the goods stolen was less than $50. I have seen prosecutors exercise a little "wiggle room" with this amount. An attorney may be able to contact the store and convince them to agree to what is called a civil compromise, where the criminal case is dropped after you make concessions to the store. There are options for sorting this out, but going it alone will probably get you nowhere. Get a lawyer; the sooner the better. If you can't hire your own, at least ask for a public defender at your arraignment. The Southwest Justice Center can be an intimidating place; don't be afraid of pleading not guilty. Just say you want a lawyer. But I recommend you call an attorney ASAP. The impact a theft conviction can have on job prospects is severe. Any job handling money, working around merchandise, working with anything valuable -- just about any job -- is going to be an uphill battle if you are branded a thief. Sorry to be harsh, but that's just the reality of this. Call a lawyer, he or she can work this out for you. Your future is worth it.

In most cases if the petty theft was for a very small amount then the misdemeanor may be lowered to an infraction.

First of all you may not have committed a crime. See what your attorney determines the prosecution can prove. Theft is wide ranging in sentencing. It comes with 6 months in jail for really egregious cases. However, if the prosecution feels the act is minimal than there may be reductions/diversion options possible.