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The Petal 1 Card is designed to help you establish a credit history, even if you’re starting from scratch or with some negative marks. There aren’t a lot of flashy features, but with responsible use you may be able to increase your credit scores.
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|Purchase APR||Balance Transfer APR||Cash Advance APR|
|Annual Fee||Foreign Transaction Fee|
|Balance Transfer Fee||Cash Advance Fee|
|Penalty APR||Late Fee||Returned Payment Fee|
|None||Up to $40||$29|
Select the “Apply Now” button below to begin the pre-approval process, which won’t affect your credit scores. You’ll only be allowed to apply if you’re pre-approved. If you do apply, that will require a hard inquiry on your credit reports (normal for credit applications), which can negatively affect your scores slightly.
Petal will typically provide an instant decision, but in some cases it may ask for more information.
The Petal 1 Card is designed for people with poor or no credit, so it’s relatively accessible even if you’ve struggled with credit problems in the past.
If you have a credit history, Petal will check it when you apply (just like most credit card issuers). But if you haven’t established any credit or don’t have enough history to calculate credit scores, Petal will need to connect to your bank account to check your banking history.
In this case, Petal will determine a “Cash Score” based on how you earn and spend money. Your Cash Score will be used for the application decision.
Brendan has been writing about personal finance for over eight years, and is now taking on the challenge of bringing high quality credit education to the masses. He makes sure that Credit Card Insider is covering the most important credit topics transparently and precisely, and that we have up-to-date reviews of credit cards so you can find cards that are right for you.
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