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2021 Review: Petal® 1 No Annual Fee Visa Card – For Building Credit

Published Apr 02, 20213 min read

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Petal® 1 No Annual Fee Visa® Card

Min Credit Level Bad
Annual Fee $0
Regular APR 19.99%–29.49% Variable
At a glance

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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Our Rating: 5 Out of 5 Stars

Why We Like It

  • If you haven’t yet established credit, Petal checks your banking history to give you a shot at approval
  • Opportunity to establish a credit history, and potentially improve credit scores
  • Can only apply if you’re pre-approved, although pre-approval doesn’t guarantee approval
  • 2%–10% cash back at select merchants
  • Relatively high maximum credit limit ($5,000)
  • No foreign transaction fee
  • No annual fee

Why It Could Be Better

  • Rewards at select merchants only

Petal® 1 No Annual Fee Visa® Card

Min. credit levelBad
Details
Annual Fee$0
Regular APR19.99%–29.49% Variable
Apply Now

securely on the issuer's website

  • For a limited time only: Get $25 for a Petal 1 card approval. Full terms apply.
  • $0 Annual Fee
  • 2% – 10% cash back from select merchants
  • $500 – $5,000 credit limits
  • Variable APRs 19.99 – 29.49% APR
  • No annual or international transaction fees. Late and returned payment fees may apply
  • Build credit alongside tens of thousands of Petal Card members
  • Cash flow technology may help applicants without credit history get approved
  • Petal’s mobile app makes it easy to manage your money, track your spending, and automate payments
  • See if you’re pre-approved within minutes without impacting your credit score
  • Petal reports to all 3 major credit bureaus
  • No deposits required
  • Card issued by WebBank, Member FDIC

Insider Advice: Getting the Most Out of Your Card

  • Commit to being a responsible credit card user: The Petal 1 card is one of relatively few unsecured cards for people with bad credit, meaning you don’t have to put down a security deposit to get approved and start establishing credit. Use it responsibly — pay your statement balance on time and in full each month — and you may see a boost to your credit scores.
  • Get the app: The Petal card is designed to be used with the Petal app, where you can see everything you’ll need to know about your card. That includes your balance and upcoming payments, how much you’ll pay in interest if you carry a balance, and where you can earn cash back, along with budgeting and credit-monitoring tools.
  • Check your Petal Offers to see where you can save: Use the Petal app to see your Petal Offers — local merchants where you can earn 2%–10% cash back. You don’t need to do anything to activate or enroll in the offers; they’ll be loaded onto your card automatically when they’re available. Just make purchases as normal, paying with your Petal card, to claim your offers.

The Benefits

  • Petal Offers: Earn 2%–10% cash back at select local merchants. Current offers are automatically added to the card, and can be checked in the Petal app. Use the card for purchases as normal to claim Petal Offers.
  • Free credit score: See one of your credit scores, based on your Experian credit report.
  • Auto Rental Collision Damage Waiver: Decline the rental agency’s insurance to get coverage for damage and theft of eligible rental cars.
  • Roadside Dispatch: Call 1-800-847-2869 anytime for help on the road, including tows, jumpstarts, and tire changes. Third-party fees apply.

The Terms & Fees

Purchase APR Balance Transfer APR Cash Advance APR
19.99%–29.49% Variable None None
Annual Fee Foreign Transaction Fee
$0 None
Balance Transfer Fee Cash Advance Fee
None None
Penalty APR Late Fee Returned Payment Fee
None Up to $40 $29

How Do I Apply for the Petal 1 Card?

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.

What Credit Scores Do You Need to Get the Petal 1 Card?

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.

Petal® 1 No Annual Fee Visa® Card

Min. credit levelBad
Details
Annual Fee$0
Regular APR19.99%–29.49% Variable
Apply Now

securely on the issuer's website

  • For a limited time only: Get $25 for a Petal 1 card approval. Full terms apply.
  • $0 Annual Fee
  • 2% – 10% cash back from select merchants
  • $500 – $5,000 credit limits
  • Variable APRs 19.99 – 29.49% APR
  • No annual or international transaction fees. Late and returned payment fees may apply
  • Build credit alongside tens of thousands of Petal Card members
  • Cash flow technology may help applicants without credit history get approved
  • Petal’s mobile app makes it easy to manage your money, track your spending, and automate payments
  • See if you’re pre-approved within minutes without impacting your credit score
  • Petal reports to all 3 major credit bureaus
  • No deposits required
  • Card issued by WebBank, Member FDIC
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Written by

Brendan Harkness

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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