It can be tough to find favor with credit card issuers if you have no or low credit, especially one with few fees and no strings attached — or a secured card. For many with low credit, credit cards are crucially important to serve as financial safety nets.

We recommend considering the Petal Credit Card. The Petal Credit Card is simplistic, straightforward, and great for building credit over time. Plus, it comes with few or no fees, and Petal’s mobile app is user-friendly and helpful. Let’s take a closer look at this accessible credit card in detail.

What Is the Petal Credit Card?

The Petal Credit Card actually comes in two types:

  • The Petal 1 No Annual Fee Visa Credit Card. This card is generally recommended for those who don’t have great credit or a consistent earning and compensation schedule, but who want to improve their credit scores. It’s the perfect card for your first year or so of building credit.
  • The Petal 2 Cash Back No Fees Visa Credit Card. This card is meant for Petal Card members with higher credit scores and good cash flow but who still want a reliable line of credit to fall back on when the bank account balance is low. This benefits from higher rewards rates (i.e. cash-back rewards) and more.

Both credit cards are issued by WebBank and are offered by the company Petal. Both are also meant to do be accessible lines of credit for those who have trouble getting credit cards from other companies. Petal prequalifies borrowers when they apply for either type of card.

Does the Petal Card Have Fees?

The Petal Card’s fees vary depending on which card you select. The Petal 2 card doesn’t come with any fees whatsoever, as is indicated by its name. However, the Petal 1 card does come with a potential returned payment fee of $29. Note that this fee only kicks in if your monthly payment toward the credit balance doesn’t go through for whatever reason.

The Petal 1 card also has a $40 late payment fee. Again, this only applies if you make a late payment, which you shouldn’t if using this card in the first place. Aside from these minor fees, neither Petal Card charge has an annual fee, foreign transaction fee, or any other type of fee. The Petal 2 card doesn’t come with late fees.

Petal Card Rewards: Worth It?

The rewards are where things really get interesting. Both Petal Cards have decent fees that may make them worth your while if you have low credit or can’t get a different credit card.

The Petal 1 Card offers a cash score at a rate of 2% to 10% at various merchants. Basically, if you spend money at the right merchants, you’ll get between 2% and 10% cashback based on your spent balance.

Meanwhile, the Petal 2 Card has a more diverse and interesting set of rewards to reflect the increased credit requirements. Users benefit from up to 1.5% cashback for all eligible purchases after they make 12 monthly payments on time (i.e. after using the card responsibly for a year).

Petal 2 Cardholders also get up to 10% cash back when making purchases at the same select merchants. This is the same benefit offered by the Petal 1 Card.

Both sets of rewards are excellent if you plan to use the cards regularly. Since the cards are meant to help you build credit, you should use them frequently for minor to moderately sized purchases, then pay down the credit balances over one or two months maximum. The cashback rewards can be earned at restaurants, gas stations, and other locations.

What’s the APR on the Petal Card?

Like the rewards, the regular APR for the Petal Card depends on which version you acquire and use. The Petal 1 Card has an ongoing APR between 20.24% and 29.74%. This is a variable APR, so it will fluctuate as market conditions shift.

The Petal 2 Card has an ongoing variable APR between 13.24% and 27.24%. As you can see, the potential minimum APR for the Petal 2 is higher than the potential minimum APR for the Petal 1. But the Petal 2 card has a lower potential maximum APR to balance it out.

Note that neither of these APR ranges is particularly excellent. Thus, it’s recommended that you pay down any Petal Card balance you have ASAP.

What’s the Credit Limit on Petal Cards?

The Petal Cards have pretty good credit limits regardless of the one you choose. The Petal 1 Card has a maximum credit limit of up to $5000, and the Petal 2 Card has a maximum limit of up to $10,000. Of course, your credit limit will depend on your creditworthiness and other factors.

Can You Get Pre-Approval for a Petal Card?

Yes, based on your banking history, on-time payments, and other factors that give you an eligible credit score. The fact that prequalification and preapproval are possible makes these cards great choices if you have less than stellar credit. WebBank will only do a soft check at first, so you won’t waste your time if you don’t qualify, nor will you accidentally decrease your credit score by a few points in the process.

Who Is the Petal Card For?

The Petal Card (either version) is a good choice for folks who can’t get a credit card from another company or through traditional means. The Petal Cards are acquirable if you have a credit score of 690 or less: a score threshold that puts other credit cards with better rewards programs or higher credit limits out of reach.

These could be good credit cards for building up your credit score over time. Since they don’t require a security deposit, they can also be good choices if you don’t have a lot of cash on hand at the moment but still need to build your credit.

Can Petal Credit Cards Help You Improve Your Score?

Yes. Using the Petal Cards wisely can help you improve your score by:

  • Only taking out moderate balances on either card
  • Paying the credit card balance for either card on time and in full

The best way to improve your score with the Petal Card is to make a purchase of less than $100. Then pay down the credit balance over the next week. This shows borrowers that you can use credit responsibly and pay your bills on time.

Is the Petal Card a Good First Credit Card?

It can be! The Petal 1 Card is specifically meant for people with low credit or no credit, so it could be a great and achievable card when looking to build credit for the first time.

Is It Easy To Qualify for a Petal Card?

Yes. The Petal Card doesn’t require a very high credit score to qualify, and you can get preapproved online in a few minutes. Then, if you decide to go forward with the application, Petal will let you know if you are fully approved in less than a day.

Petal Card Reviews: Is It Legit?

Yes. Petal’s credit cards have been around for several years at this point and have changed their terms slightly over that timeframe. But both cards have maintained the same purpose and lack of fees over time as well.

If you apply for these cards, you don’t need to worry about being scammed or your credit being damaged. Advertising for these cards has been smooth for years. As such they’re well-known as good cards for building your credit history with the major credit bureaus, including TransUnion, Experian, and Equifax if you have a limited credit history.

The Petal Card Has a Solid Reputation

One of the great things about either Petal Card is the reputation of their parent company, Petal. These Visa cards have been great choices for several years and don’t have a lot of ancillary fees, so they aren’t predatory or aimed at people with low financial literacy.

Is There Anything Special About the Petal Card?

The main special thing about the Petal Card is its simplicity. Both cards lack a lot of extra fees, have good credit limits, and are perfect for individuals with no or low credit. If you’re looking for a simplistic, no-fuss credit card, the Petal Card could be perfect for you.

Summing Things Up

The Petal Card in either form could be an excellent way for you to get a backup line of credit or finance major purchases. Alternatively, you can contact Becca’s Home if you’re interested in leasing furniture for your house or apartment but don’t want to pay the full price upfront.

With furniture leasing from Becca’s Home, you can lease the furniture you want and pay for its full cost over affordable monthly installments. You can even pay down the remaining lease amount early if you so choose! Contact us today for more information.


What is the difference between a fixed APR and a variable APR? | Consumer Financial Protection Bureau

What Is a Soft Inquiry? | Experian

690 Credit Score: Is it Good or Bad? | Experian

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