The
Petal® 1 Visa® Credit Card is a good credit card for people with limited credit who do not want to place a refundable security deposit. The Petal 1 Card offers a credit limit of
$300 to $5,000, has a
$0 annual fee that makes it easily worthwhile, and reports to all three major credit bureaus.
Petal, which partners with WebBank to issue the
Petal® 1 Visa® Credit Card, is able to offer such attractive terms to people with questionable credit history because it emphasizes cash flow more in its approval process than most other credit cards. In other words, having a lot of income increases your chances of getting this card.
Petal® 1 Visa® Credit Card is a pretty good starter credit card for people with limited or no credit history, too. It does not give rewards for every purchase you make, however. Rather, cardholders have the opportunity to earn 2% to 10% cash back on purchases from select participating merchants.
With that being said, the better your credit score is, the more likely you are to be automatically be considered for the
Petal® 2 Visa® Credit Card. That higher tier card does offer rewards on every purchase, with
1% cash back and the ability to earn up to
1.5% after 12 months on all eligible purchases.
To help you decide whether applying for the
Petal® 1 Visa® Credit Card is the right move for your situation, we’ll highlight the most important things to consider below.
Petal 1 Card Review Highlights
Annual Fee:
$0Credit Limit:
$300 - $5,000
APR:
25.24% - 34.74% (V)Regular Rewards Rate: None
Bonus Rewards Rate: 2% to 10% cash back at select merchants
Foreign Transaction Fee:
0%Credit-Bureau Reporting: 3 bureaus, monthly
Card Issuer: WebBank
Card Network: Visa
If you’re not sure which Petal credit card is right for you, WalletHub makes it easy to compare the
Petal® 1 Visa® Credit Card vs. the
Petal® 2 Visa® Credit Card. It’s also important to note that whichever Petal card you decide to apply for, you may get qualified for the other in the process.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.