The content is accurate at the time of publication and is subject to change.
The information for the Petal® 1 No Annual Fee
Visa® Credit Card and Petal® 2 Cash Back, No Fees
Visa® Credit Card offers may be out-of-date. The current cards details are the following:
-
- $0 Annual Fee
- Variable APRs range from 25.24% - 34.74%
- $300 - $5,000 credit limits
- Earn a credit limit increase in as little as 6 months. Terms and conditions apply.
- No credit score? No problem. If eligible, we'll create your Cash Score instead.
- 2% - 10% cash back at select merchants
- See if you're pre-approved within minutes without impacting your credit score.
- No annual or foreign transaction fees.
- Build credit alongside hundreds of thousands of Petal card members.
- Petal's mobile app makes it easy to manage your money, track your spending, and automate payments.
- Petal reports to all 3 major credit bureaus
- No deposits required
- Card issued by WebBank
-
- No fees whatsoever. No late fee, foreign transaction fee, annual fee, or any-other-kind-of-fee, fee.
- Variable APRs range from 18.24% - 32.24%
- Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments.
- 1% cash back on eligible purchases right away
- 2% - 10% cash back at select merchants $300 - $10,000 credit limits
- No credit score? No problem. If eligible, we'll create your Cash Score instead.
- See if you're pre-approved within minutes without impacting your credit score.
- Build credit alongside hundreds of thousands of Petal card members.
- Petal reports to all 3 major credit bureaus.
- No deposits required
- Card issued by WebBank
Petal, a credit card issuer specializing in helping people with either no credit history or a limited one with a way to get a credit card, has now rolled out a rewards credit card. This new card offers cardholder's cash back ranging from 1% to 1.5% on all eligible purchases. What is interesting about this card is that people are actually rewarded for making on-time payments.
How does it work? Once people get their new card they automatically start earning 1% back on all their eligible purchases. After six months of making on-time payments the amount of cash back they get is raised to 1.25%, and finally, after 12 months of on-time payments, their cashback goes up to 1.5%.
More about the Petal card
While most credit cards require people to have a credit score in order to be approved for their credit card Petal does not. They use a variety of other data to approve new cardholders, and the APR range for their card is 18.24% - 32.24% Variable.
The credit limit for the Petal card ranges from between $500 and $10,000. They tailor the card's credit limit to help cardholders keep their utilization levels low, so they can build their credit. In fact, they also provide cardholders with tools to help them get their credit where they want or need it to be. These features include an in-app spending planner, so cardholders can track their spending and boost their credit score over time.
Is there an annual fee for this card? The answer is no, and they have also done away with other fees too including late payment fees and foreign transaction fees.
Security and customer service
These days no matter what credit card you have security is important. Petal comes along with security features including encrypting cardholder's data to keep data secure.
Cardholders can also freeze their account if they believe there is an issue with their card, and then they can unfreeze it when they are ready.
Their customer care representatives are available 24 hours a day and seven days a week.
There've been some changes to the initially launched Petal card. Now there are not one card but two Petal credit cards - the Petal® 1 No Annual Fee
Visa® Credit Card and the Petal® 2 Cash Back, No Fees
Visa® Credit Card. The first is catered to those with limited credit, and the second can be a good option for people with good credit.
