Learn how to apply for the Petal® 1 Visa® Credit Card
Rebuilding credit is hard, but not impossible. Check out how to apply for the Petal® 1 Visa® Credit Card and start rebuilding yourself.
What Do I need to know about the Petal® 1 Visa® Credit Card?
There is no annual fee for Petal® 1 “No Annual Fee.” The Visa® Credit Card, one of Petal’s two credit cards, can assist newcomers in establishing credit without just depending on conventional FICO ratings to determine creditworthiness.
Beyond that, the Petal 1 has some acceptable features for a starting card, like the capacity to accrue rewards and the capacity to send data to all three major credit bureaus.
It doesn’t need a security deposit and is free of deceptive charges like yearly fees, activation fees, and monthly maintenance costs that are commonly attached to unsecured cards for people with bad credit.
If your credit score is comparable to the early stages of a compost pile, the Petal 1 Visa may give you the push you need to sow the seeds of improvement. You might be able to apply without knowing your credit score.
Petal instead uses a “cash score” that is based on your banking and other financial histories to determine your creditworthiness.
The fact that it doesn’t require a security deposit puts it in the unique category of credit cards that are accessible to those with poor credit.
Who can apply for the Petal® 1 Visa® Credit Card?
According to Petal itself, to be qualified for a Petal card, you must:
- possess a current Social Security or Individual Taxpayer Identification Number
- possess an active U.S. phone number
- possess a working email address
- age of 18 or older (19 or older if you reside in Alabama or Nebraska)
- dwell in one of the 50 United States, Washington, D.C., or a U.S. military base permanently
Also, you need to link your bank accounts so Petal can see if you have a sufficient “cash score”
Currently, you are ineligible if
- Your current residence is a jail or prison.
- You’ve applied for a Petal card before or have one right now.
- Within the previous 48 months, you declared bankruptcy.
Depending on the details you submit during the application process, your credit history, and the details kept in your Petal account, you may be eligible to apply for and use a Petal card (if you have one).
If you don’t fulfill the previously set credit requirements, you might not be approved for a card based on this information.
How to apply for the Petal® 1 Visa® Credit Card?
The approval procedure is made as easy and stress-free as possible by Petal. The Petal® 1 “No Annual Fee” Visa® Credit Card is available to those with difficult credit situations as well as those with no credit history at all.
After you have provided some basic and important information and created an online account on the Petal Website, you can link your bank accounts when you apply if you don’t currently have a credit history.
Your banking transactions’ payment information is used by Petal to determine whether to approve you.
Before applying, you can also check your likelihood of being accepted for this credit card. Using Petal’s pre-approval tool carries no risk because it won’t affect your credit score.
Is the Petal® 1 Visa® Credit Card worth it?
The Petal 1 Visa card can make sense if you’re seeking to repair your credit but are adamantly opposed to paying an annual fee. But if you pay an annual fee and/or put down a security deposit, you can be eligible for a card that offers dependable rewards and even allows you to transition to an unsecured version. Long-term results may be improved by doing this.
Petal® 1 Visa® Credit Card vs Wells Fargo Active Cash Card
These are both amazing cards, but for different reasons.
If you want a card to build or rebuild your credit, then you need to stick with the Petal® 1 Visa® Credit Card.
However, after you established good or amazing credit, the best thing to do is to change to the Active cash card, since it is one of the best and simplest cashback cards available.
Petal® 1 Visa® Credit Card Benefits
- No annual fee
- Qualify with limited/bad credit
- No foreign transaction fees
- Reports to the three major credit bureaus
Wells Fargo Active Cash Card Benefits
- No annual fee
- Dependable flat-rate incentives for purchases
- Spend $1,000 in purchases within the first three months to receive a $200 cash rewards incentive.
- No categories or restrictions to remember
How to apply for the Wells Fargo Active Cash Card?
If you have an excellent credit score, you should definitely check out our article on how to apply for the Wells Fargo Active Cash Card.