Learn how to apply for the Petal® 2 Visa® Credit Card

What do I need to know about the Petal® 2 Visa® Credit Card?

If you have fair credit and are establishing a history, think of the Petal 2 credit card, which has no annual fee.

It is one of the few no-annual-fee cards available to people with fair credit who can also get up to 1.5% cashback, making it a unique specimen among unsecured credit cards designed to assist people to build credit.

The rewards program for the Petal 2 card sows the seeds for wise financial conduct. You will be eligible to receive up to 1.5% cash back on qualified purchases after making 12 timely monthly payments.

On qualifying purchases, you’ll get 1% cash back right away. Earn cash back of between 2% and 10% at particular stores.

However, if you have filed for bankruptcy within the previous 48 months, you will not be eligible for a Petal card.

Additionally, Petal states that if you were refused and were not aware of that rule, you are not permitted to reapply for at least 30 days after receiving their decision.

If your credit history isn’t damaged, or simply nonexistent, you must be willing to let Petal access to your primary bank account in order to allow it to learn more about your payment history.

Although there are cards that don’t need that kind of access, it’s a frequent practice among issuers who give credit to those who are only now beginning to build their credit.

Who can apply for the Petal® 2 Visa® Credit Card?

To be eligible for the Petal® 2 “Cash Back, No Fees” Visa® Credit Card, you must be a resident of the United States and have a valid Social Security number or individual taxpayer identification number.

However, Petal’s issuing bank may decide to consider other factors in addition to your credit scores.

According to co-founder and CEO Jason Gross, it can also assess creditworthiness using an algorithm that also examines your income, savings, and spending.

To give this data, you must link your bank account. According to Petal’s website, you will only have read-only access and your login information won’t be saved.

How to apply for the Petal® 2 Visa® Credit Card?

Petal strives to make the approval process as simple and stress-free as possible.

If you don’t yet have a credit history, you can link your bank accounts when you apply after providing some basic and crucial information and setting up an online account on the Petal Website.

Petal uses the payment information from your banking transactions to decide whether to approve you.

You can determine your likelihood of approval for this credit card before applying. There is no danger involved with using Petal’s pre-approval service because it won’t lower your credit score.

Is Petal® 2 Visa® Credit Card worth it?

When we contrast the Petal 2 card to comparable choices for folks with fair credit, everything seems very good.

The Petal 2 card stands out from the competition because of its lack of annual and other account fees, potential for a robust rewards structure, and opportunity to qualify for a lower APR than most cards aimed at people who are improving their credit.

Petal® 2 Visa® Credit Card vs Petal® 1 Visa® Credit Card

Your best option is to look into the Petal 1 Card, provided by WebBank if you believe it could be a stretch for you to be approved for the Petal 2 Card. Although it too offers a $0 yearly cost, it is intended for people with bad to fair credit.

It’s one of the few unsecured cards available to people with bad to good credit that doesn’t charge an annual fee, but unlike the Petal 2, you will be charged late or returned payment costs.

The Petal 1 Card doesn’t offer any continuous benefits, but you can take advantage of Petal Offers, which can get you anywhere from 2% to 10% cash back at particular shops.

Petal® 2 Visa® Credit Card Benefits

• There are no fees, including yearly, foreign transactions, late, and over-limit charges.
• No security deposit
• No credit history is necessary.

Petal® 1 Visa® Credit Card Benefits?

• No yearly charge
• Even with poor or low credit.
• Absence of foreign transaction fees
• information sent to the three main credit bureaus

How to apply for the Petal® 1 Visa® Credit Card

If for any reason you believe this is the right decision to make, take a look at how to apply for the Petal® 1 Visa® Credit Card.

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