Petal® 1 Visa® Credit Card full review

What do I need to know about the Petal® 1 Visa® Credit Card?

The Petal 1 Visa can provide you with the impetus you need to plant the seeds of improvement if your credit score is similar to the beginning stages of a compost pile. It’s possible that you can apply without having a credit score.

Instead, Petal bases its assessment of your creditworthiness on a “cash score” that is based on your banking and other financial histories.

This places it in the uncommon category of credit cards that are open to people with bad credit but don’t demand a security deposit.

The Petal® 1 “No Annual Fee” has a $0 annual fee One of two credit cards in Petal’s portfolio, the Visa® Credit Card, both of which are issued by WebBank, can help newcomers establish credit without only relying on traditional FICO ratings to assess trustworthiness.

Beyond that, the Petal 1 has some respectable characteristics for a beginning card, such as the ability to earn awards and the ability to report information to all three main credit bureaus

It doesn’t require a security deposit and is free of the sneaky fees that are sometimes associated with unsecured cards for those with terrible credit, such as yearly fees, activation fees, and monthly maintenance fees.

Keep reading so you can have a better understanding of the card!

How does the Petal® 1 Visa® Credit Card works?

Those with poor, scant, or even no credit history can apply for the Petal 1 “No Annual Fee” Visa® Credit Card. It doesn’t offer a welcome bonus or an introductory APR, like the majority of credit cards for those with weak credit.

Cardholders must keep track of qualifying merchants through the Petal app in order to earn rewards when they spend because the card only earns 2% to 10% cash back at selected retailers.

On other purchases, you won’t receive any points.

Additionally, rewards rates differ depending on the store, which is a drawback if you want a predictable return on your purchase.

Since the normal APR ranges from 22.99% to 32.49% Variable, it’s not the best option if you want a credit card with a low-interest rate or intend to carry a load.

Having said that, the fact that people with poor or no credit can qualify makes this card appealing. If you don’t have a credit score, you might be able to use your banking history to link to a “Cash Score” during the application process, which will assess your creditworthiness.

Similarly, there is no security deposit required, unlike secured cards, which are likewise oriented at people with poor credit. Instead, you may put money aside and concentrate on improving your credit.

Petal® 1 Visa® Credit Card’s main benefits

Easy Approval

Since it was designed for people with low or no credit, the application process for the Petal® 1 Visa® Credit Card is very easy and stress-free

No annual fee

The greatest credit cards for establishing and repairing credit are those without an annual fee, and this Petal card has none. It won’t cost you anything to use to boost your credit.

No foreign transactions fee

Using your Petal® 1 “No Annual Fee” Visa® Credit Card while you’re abroad won’t cost you anything extra.

One advantageous feature we don’t see very often with credit cards for those with weak credit is the absence of foreign transaction fees.

Rewards for selected buyers

Depending on the exact offer from the store, you can receive between 2% and 10% cash back on eligible purchases when you use the Petal® 1 “No Annual Fee” Visa® Credit Card at participating retailers.

Over 20 national deals and more than 500 local offers are presently available from participating shops on the Petal platform. This card offers outstanding cash-back rates at participating merchants.

The high credit limit for a poor scorecard

The Petal® 1 “No Annual Fee” Visa® Credit Card is offered by Petal with credit limits ranging from $300 to $5,000.

A high credit limit has the advantage of allowing you to maintain a low credit use percentage.

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

If the perks and benefits of this card caught your attention and you want to apply for it, check out our article regarding how to apply for the Petal® 1 Visa® Credit Card.

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