Rewards Plan
Sign up Bonus
Credit Rating
0% Intro
Annual Fee
APR
- No Penalty APR
- No Deposit Required
- No Intro APR
- No Balance Transfer or Cash Advance
Rewards Plan
Sign up Bonus
0% Intro
PROS
- No Penalty APR
- No Deposit Required
CONS
- No Intro APR
- No Balance Transfer or Cash Advance
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.
- No Fees Whatsoever
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!
- No Penalty APR
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.
- No Deposit Required
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.
- Cash Back
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 .
- Reports to all Three Major Credit Bureaus
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.
- No Intro APR
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.
- No Balance Transfer or Cash Advance
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 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%
| 29.99% (Variable)
| 17.74% – 26.74% 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.
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