Credit Cards » Credit Card Reviews » Petal® 2 “Cash Back, No Fees” Visa® Credit Card Review (2022)
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Petal® 2 “Cash Back, No Fees” Visa® Credit Card Review (2023)

Petal 2 card is a great choice for people who want to build their credit up, enjoy decent rewards and skip card annual fees .
Author: Lorraine Smithills
Lorraine Smithills

Writer, Contributor

Experience

Lorraine is a freelance finance writer with years of experience in the banking sector and after a successful career in one of the largest retail and commercial financial services providers. She has a passion for helping people with less financial confidence to get control of their money through budgeting, saving, and responsible credit practices.

Review & Fact Check: Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Financial Expert, The Smart Investor CEO

Experience

Baruch Mann (Silvermann) is a financial expert and founder of The Smart Investor. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.
Author: Lorraine Smithills
Lorraine Smithills

Writer, Contributor

Experience

Lorraine is a freelance finance writer with years of experience in the banking sector and after a successful career in one of the largest retail and commercial financial services providers. She has a passion for helping people with less financial confidence to get control of their money through budgeting, saving, and responsible credit practices.

Review & Fact Check: Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Financial Expert, The Smart Investor CEO

Experience

Baruch Mann (Silvermann) is a financial expert and founder of The Smart Investor. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

Petal® 2 "Cash Back, No Fees" Visa® Credit Card

Petal 2 Visa card Review

Rewards Plan

1.5% 1% cash back on all purchases, 1.25% after 6 months of on time payments, and 1.5% after 12 months of on time payments

Sign up Bonus

None

Credit Rating

Fair

0% Intro

None

Annual Fee

$0

APR

17.49% – 31.49% Variable

On Petal's Secure Website

Petal® 2 "Cash Back, No Fees" Visa® Credit Card

Petal 2 Visa card Review

On Petal's Secure Website

Rewards Plan

1.5% 1% cash back on all purchases, 1.25% after 6 months of on time payments, and 1.5% after 12 months of on time payments

Sign up Bonus

None

0% Intro

None

PROS

CONS

APR

17.49% - 31.49% Variable

Annual Fee

$0

Balance Transfer Fee

N/A

Credit Requirements

Fair

The Petal® 2 "Cash Back, No Fees" Visa® Credit Card offers you the benefits of a rewards card, no fees attached. This card does not charge annual fees, maintenances fees, foreign transaction fees, over limit fees, late payment fees or any kind of fee.

It is a great choice for people who want to build their credit up without forgoing rewards. These rewards are offered as cash backs which will increase depending on your level of financial responsibility. Petal 2 Visa Credit Card offers a reasonable credit limit for the value it provides. If your application is approved, you are allowed a minimum credit limit of $500 and a maximum of $10,000.

While using this card does not attract any direct fees, users who have a habit of defaulting in monthly payments will not get the best value out of this card. Considering that the upper limit of the APR is high, poor account management may have you paying considerably higher than you would expect to.

  • No Fees Whatsoever
  • No Penalty APR
  • No Deposit Required
  • Cash Back
  • Reports to all Three Major Credit Bureaus
  • No Intro APR
  • No Balance Transfer or Cash Advance

Does Petal offer a good digital experience?

The Petal 2 does have a superb app that allows you to not only seek out cash back bonuses, but also manage your budget and finances, so it offers a superior digital experience.

Do the cards report payments to all credit bureaus?

Yes, Petal reports its account activity to all three of the credit bureaus.

Does the card ask for proof of income?

Petal does typically verify your bank account and need confirmation of some key expenses. So, you may need to have proof of income to support your application.

What are the card income requirements?

Petal will need to check your outgoings do not exceed your income, but there are no specific income requirements.

How long should I use the card to increase my credit score?

There is no set amount of time to increase your credit score, as this will depend on your circumstances. However, a good rule of thumb is three to six months. After this time, you should be able to see an increase in your FICO score.

What is the top reason not to get the Petal 2 card?

The main reason not to get the Petal 2 card again relates to the benefits. Although you need average to excellent credit, the rewards package is predominantly related to merchant cash back. If you want other perks, there are other cards available.

Table of Contents

Advantages

Let’s take a look at the advantages of this card and see if it’s the right one for your wallet or not.

Petal 2 Visa Credit Card does not charge you for owning the card. No hidden maintenance fees attached and you can shop international without worrying about incurring extra charges. Late payments, return payments, and over limits do not attract fees either. A true “no fee” card!

Unlike some cards which apply a penalty APR to your card if make a late payment or one that gets returned, the Petal 2 Visa Credit Card does not.

You are not required to make any deposits to get access to all of the benefits of a Petal 2 Visa Credit Card. This feature makes it rank high among credit cards targeted at similar users.

You may earn up to 1.5% cash back every time you swipe. 

The rewards model includes 1% cash back on all purchases, 1.25% after 6 months of on time payments, and 1.5% after 12 months of on time payments .

This is valuable to you if you are trying to build credit. Sharing your credit card activity with the three major credit bureaus can help you build your credit quickly as long as you show financial responsibility. 

Make your monthly payments on time and always keep your account in good standing to reap the benefits of this.

Disadvantages

Let’s take a look at the disadvantages of this credit card and see if it’s the right one for your wallet or not.

Unlike many credit card issuers, Petal does not offer you an introductory rate on your Petal 2 Visa Credit Card. The variable APR of 17.49% – 31.49% Variable applies to you from the minute you begin using the card.

Your Petal 2 Visa Credit Card does not support the transfer of balances from other credit cards. You also do not get cash advances. 

How To Apply For Petal® 2 Credit Card?

Here are the steps you should talk on Petal website if you would like to apply for Petal2 credit card:

Step 1: Begin Your Application

Application for the Petal 2 is not done directly. You need to submit a pre-approval request to confirm if you are eligible for any of their card offers.

While passing the pre-approval process does not guarantee you will be issued for a Petal 2 Visa Credit Card, it is especially useful because it allows them to evaluate you without hurting your credit score in the process.


To begin this application, visit the Petal 2 Visa Credit Card website. Click on “The Cards” from the top of the page. Select “Petal 2” to get started.  On the page that opens, click “See My Offers”. 
You must verify your phone number via call or text before proceeding.
Start by providing your email address. 

Step 2: Personal Details

Next, provide your full name. Middle name is optional. After this, you will be asked to enter your date of birth. Enter your housing information. Select your housing type and fill in the cost of your monthly housing payment.

Step 3: SSN & Tav Info

Enter your social security number or individual tax identification number so Petal can verify your identity. Next, provide information about your income:
Enter your gross annual income (before taxes). This amount should include any other source of income besides your job. Investments, retirement benefits, rental properties, and allowance from family all count.
Click next to continue by providing your employment status and primary income type.

Step 4: Contact & Address

Fill your permanent home address on this form. All fields are required, including your Apt/Suite. This is the last form in the pre-approval request. Before rounding up, you may choose to provide information about how you heard of Petal. Answering this is optional.

Step 5: Agreement

Finally, agree to the terms of the Electronic Communications Disclosure and provide Petal consent to evaluate you for multiple Petal credit products. After this, you’re set to see your pre-approval credit card offers. Link your bank account to continue.

This is done so WebBank can evaluate your financial responsibility before deciding to approve you. WebBank is the lender backing your Petal 2 Visa Credit Card.
Petal uses Plaid to link your bank account securely. Plaid guarantees your credentials will not be made available to Petal.

Is the Petal2 Card Right for You?

If you have fair credit or you're a student, this card is a really good choice. It offers you the perks of a rewards card with no annual fee and ability to improve your credit.

The pre-approval process is quick and does not hurt your credit history, even if you don’t get approved. This means you may still try if you’re not sure where you stand with your credit.

If you have a stellar credit rating, this card’s rewards may not be the best value for you. You may want to find more generous cards with higher rewards rate.

Compare The Alternatives

There are more cards for students or those who have fair credit – here are some good alternatives to the Petal 2 card:

chime card

Capital One Journey Student Card

discover-it-student-cash-back_5mNPw7i

Chime Credit Builder
Capital One Journey
Discover It Student Cash Back
Annual Fee
$0
$0
$0
Rewards
None None
Up to 1.25% earn 1% cash back and another 0.25% if you pay on time, so you can boost your cash back to a total of 1.25%
1-5% 5% cash back on activated rotating category purchases (up to $1,500 in purchases each quarter, then 1%) and 1% on all other purchases
Welcome bonus
None None
None $5 per month for 12 months on select streaming subscriptions when you pay on time
Match Bonus Match Bonus for the first 12 months
Foreign Transaction Fee
0%
None
0%
Purchase APR
0%
29.74% (Variable)
17.24% – 26.24% Variable APR

FAQ

No, the petal 2 card issuer permits adding another user to your account.

The Petal 2 has an initial credit limit of $300 up to $10,000 depending on qualification criteria.

Petal has a similar time frame for its application approval. You’ll get an email decision quite quickly and should receive your new card within 10 days.

The Petal customer support hours are 8 am to 10 pm EST Monday to Friday and 9 am to 6 pm on Saturdays.

Student College Credit Cards

Lorraine Smithills

Lorraine Smithills

Lorraine is a freelance finance writer with years of experience in the banking sector and after a successful career in one of the largest retail and commercial financial services providers. She has a passion for helping people with less financial confidence to get control of their money through budgeting, saving, and responsible credit practices.

Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

Credit Card Reviews Methodology

In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.