Petal Visa Credit Cards Review [2024]: Helping People Gain Access to Credit

CREDIT CARDS - CASHBACK CREDIT CARDS
The three Petal Cards are no-hassle cashback credit cards that can provide access to credit for those with little or no credit history. Here's how they work.
Updated Feb. 1, 2024
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Petal1 is establishing itself as a company that aims to help people succeed financially while they build their credit history. One of the ways they are doing this is by providing people access to both credit and cashback rewards via the Petal® 1 "No Annual Fee" Visa® Credit Card, Petal 1 Rise Visa® Credit Card, and Petal® 2 "Cash Back, No Fees" Visa® Credit Card.

With simple cashback earnings, credit limits ranging from $300-$10,000, and 24/7 customer support, one of the Petal Visa Credit Cards could provide you with a way to get your credit history started and your personal finances on the right path. Keep reading our Petal Card review to learn about these cards and which you might qualify for.

Rewards for Beginners to Credit Cards

Petal® 1 "No Annual Fee" Visa® Credit Card
4.3

Petal® 1 "No Annual Fee" Visa® Credit Card

Current Offer

Earn a credit line increase in 6 months with Petal’s Leap program

Annual Fee

$0

Rewards Rate

2% to 10% cash back at select merchants

Benefits and Drawbacks
Card Details

In this Petal review

Key Takeaways

  • Petal cards are designed to help you build or rebuild your crest.
  • Petal reports your payments to all three credit bureaus.
  • Petal 2 offers the most benefits overall, including unlimited 1% cash back on eligible purchases; after 6 on-time payments, earn 1.25% cash back; after 12 on-time payments, earn 1.5% cash back.

Who should get a Petal Visa Credit Card?

If you are searching for a credit card but have no credit history or a limited credit history, then a Petal card is a good way to build credit and have access to a credit line for spending. Credit cards can raise your credit score when used responsibly and when you pay your bills on time.

Also, if saving on your purchases is important, any of the three Petal Visa Credit Cards can earn you cash back on eligible purchases. And you may be able to boost those cashback savings simply by paying your statements. That’s because your cashback earnings with the Petal 2 Visa will actually increase after both 6 and 12 on-time monthly payments.

Great Starter Card for Those With No Credit

Petal® 2 "Cash Back, No Fees" Visa® Credit Card
4.9

Petal® 2 "Cash Back, No Fees" Visa® Credit Card

Current Offer

Reports to all three major credit bureaus

Annual Fee

$0

Rewards Rate

Unlimited 1% cash back on eligible purchases; after 6 on-time payments, earn 1.25% cash back; after 12 on-time payments, earn 1.5% cash back

Benefits and Drawbacks
Card Details

In addition, if you are applying for a Petal card, you must be at least 18 years of age and a legal U.S. resident. You will need to provide either a Social Security number or Individual Taxpayer Identification Number, and you must be able to make your monthly payments from a U.S. bank account.

Card basics: Petal 1 vs. Petal 2

The Petal 1 and Petal 1 Rise offer cash back at select merchants, while the Petal 2 offers cash back on a wider range of purchases. The Petal 1 has a $0 annual fee, while the Petal 1 Rise has $59. The Petal 2 has a $0 annual fee.

It’s important to note that there is one application for all of Petal’s credit cards, so you can’t apply for a specific one. You can check which card you qualify for without impacting your credit score, though.


Petal 1 Petal 1 Rise Petal 2
Card type Cash Back Cash Back Cash Back
Credit card issuer WebBank WebBank WebBank
Credit card network Visa Visa Visa
Annual fee $0 $59 $0
Reward rate 2% to 10% cash back at select merchants
2% to 10% cash back at select merchants
Unlimited 1% cash back on eligible purchases; after 6 on-time payments, earn 1.25% cash back; after 12 on-time payments, earn 1.5% cash back

2% to 10% cash back at select merchants
Recommended credit score Fair Fair Excellent, Good, Fair
Foreign transaction fee None None None

Petal 1 and Petal 2 benefits and perks

Respectable cash back

With the Petal 2 card, you can earn unlimited 1% cash back on eligible purchases; after 6 on-time payments, earn 1.25% cash back; after 12 on-time payments, earn 1.5% cash back. Rewards on the Petal 1 and Petal 1 Rise are not as robust. Cardholders can earn 2% to 10% cash back at select merchants with the Petal 1 and 2% to 10% cash back at select merchants with the Petal 1 Rise.

No fees or few fees on the Petal 1 and 2 cards

With the Petal 2 Visa Credit Card, you will pay no annual fees, late payment fees, or foreign transaction fees. With the Petal 1 Visa Credit Card, you will enjoy a $0 annual fee and no foreign transaction fees, but you will be subject to late fees. The Petal 1 Rise has an annual fee of $59.

The Petal cards will apply a variable APR to any balance you carry over each month, though.

Higher minimum credit limit than other credit building cards

The Petal cards credit lines range from $300-$10,000. The credit line you receive will be based on your personal creditworthiness. But unlike some other credit cards, more than just your credit score may be considered when determining your credit line.

Apply without a credit score

If you have a credit score, it will be considered during the application process for these cards. But you can potentially qualify for a Petal Visa Credit Card without a credit score or credit history. And even better, the card does not need an upfront deposit like a secured credit card.

Be aware that if you do not have a credit score, you may be asked to link to your bank account during the application process so that your cash flow, income, and spending can be assessed.

Budgeting tool

With the Petal Visa cards, cardholders will have access to the mobile app and the ability to track your spending in the Spending Planner. This makes it simpler for you to set a budget and then compare your spending to the plan you set for yourself.

Build credit for your future

With the Petal cards, you can confidently practice good financial habits and work at building credit. Petal reports to all three major credit bureaus.

Petal 1 and Petal 2 drawbacks

  • One application for all cards: You won't know which Petal card you qualify for until you fill out and submit the pre-approval application. On the plus side, you can check your pre-approval without impacting your credit score.
  • No intro APR: There is no introductory interest rate offer on the Petal cards. So if you were hoping to avoid interest charges for a few months with a new credit card, the Petal cards would not be a good fit.
  • No balance transfers or cash advances: The Petal cards do not allow you to make balance transfers or cash advances.
  • Annual fee for the Petal 1 Rise: The Petal 1 Rise has an annual fee of $59.

Earning & redeeming cash back

Earning cash back with a Petal Visa Credit Card is simple. Just use the card for your purchases, and pay off your statements on time. Over time, your cashback earnings will grow, and the cashback rate will rise as well.

Redeeming the cash you earn is quite simple as well. You can redeem your cash back as either a statement credit or a check (if it’s over $20) as long as your account is in good standing. Your cash back will show up in your Petal dashboard and be available to redeem as soon as 7 days after your current billing cycle ends, as long as you have been making on-time payments.

Potential earnings in years one and two

Here's a look how your cash back can add up with the Petal 2 Credit Card. To calculate these values, we used the 1% rewards rate. Your earnings will be higher than this if you make on-time payments and work up to one of the higher cashback rewards rates.

Remember, this is an estimation. The actual value will be determined by how much you spend and in which categories you spend.

Year one earnings: $335

Year two earnings: $335

These values are based on the FinanceBuzz Credit Card Rewards Valuation Model which takes a look at points earned via spending, the sign-up bonus, and the annual fee. 

Best ways to earn

The best way to earn cash back with a Petal Visa Credit Card is to put as many of your regular expenses on your credit card as possible. If your monthly bills such as cable or cell phone accept credit cards, this is a great way to earn easy cash back without increasing your spending.

Petal 1 Credit Card
Categories Rewards rate
Select merchants 2% to 10%
Petal 2 Credit Card
Categories Rewards rate
Unlimited cash back on all eligible purchases 1%
Unlimited cash back on all eligible purchases after 6 on-time payments 1.25%
Unlimited cash back on all eligible purchases after 12 on-time payments 1.5%
Select merchants 2% to 10%

Petal Card FAQs

Is the Petal Visa Card legit?

Both of the Petal Visa Credit Cards are legitimate cards issued by WebBank, Member FDIC. It is essentially an app built by a well-established tech company. 

What’s the difference between the Petal 1 and Petal 2 cards?

The primary difference between the Petal 1 and Petal 2 is the cashback structure. With Petal 1, you can earn 2% to 10% cash back at select merchants. With Petal 2, you can earn unlimited 1% cash back on eligible purchases; after 6 on-time payments, earn 1.25% cash back; after 12 on-time payments, earn 1.5% cash back.

Another important difference is the potential credit line. If you qualify for the Petal 2, you could receive a credit limit as high as $10,000. With the Petal 1 cards, the highest credit limit available is $5,000.

Its cash back rate and higher credit line make the Petal 2 the better card overall, but either card could be helpful for establishing or rebuilding your credit.

How do you earn cash back at select merchants?

With the Petal 1 and Petal 1 Rise cards, you can earn cash back with certain merchants. The offers are automatically loaded on your card, so you don’t need to worry about finding and adding them.

Petal doesn’t provide a lot of information on available offers, but it shows Costco, Shake Shack, Sam’s Club, and Adidas as potential merchants as of Aug. 10, 2023.

Does Petal report to the credit bureaus?

Yes, Petal reports to all three major credit bureaus: Equifax, Experian, and TransUnion.

How long does it take to get my Petal Visa Credit Card?

You should receive your Petal credit card within 6-10 business days.

Can I get a cash advance with a Petal Visa Credit Card?

No, neither Petal Visa Credit Card allows for cash advances.

Can you use the Petal card anywhere?

Yes, anywhere that accepts Visa (online and in-person) will accept the Petal Visa Credit Card.


Other cards to consider

If neither the Petal 1 Visa Credit Card nor the Petal 2 Visa Credit Card fits your needs, don’t fret. If you have limited or no credit history, you still have other credit card offers to choose from that can help you both save on your purchases and build your credit history.

The Capital One Platinum Secured Credit Card is a secured card, meaning you will need to put down a deposit if you qualify for this card. If you struggle with bad credit, though, this card may be a better fit for you than a Petal Visa Credit Card. If you pay your first five statements on time, your credit line with automatically be increased, and this card has a $0 annual fee.

The Discover it® Student Cash Back could be better than the Petal cards if you’re a student because you can earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically. Also, Discover will match all the cash back you’ve earned at the end of your first year. This means you’ll double all the rewards you earn on the bonus categories for the first year you have this card.

Great Starter Card for Those With No Credit

Petal® 2 "Cash Back, No Fees" Visa® Credit Card
4.9

Petal® 2 "Cash Back, No Fees" Visa® Credit Card

Why We Like It

Reports to all three major credit bureaus

See how these cards compare:

Capital One Platinum Secured Credit Card
Capital One Platinum Secured Credit Card
  • $200 initial credit line after making minimum security deposit
  • Consideration for higher credit line as soon as 6 months after account opening
  • No annual fee
  • Pick your monthly due date
Journey Student Rewards from Capital One
Journey Student Rewards from Capital One
  • Earn 1% cash back on all purchases
  • Boost cash back up to 1.25% on all purchases each month you make an on-time monthly payment
  • None annual fee

Author Details

Brett Holzhauer Brett Holzhauer is a graduate of the Walter Cronkite School of Journalism at Arizona State University. He writes about using points & miles for travel, travel industry news, utilizing credit cards as financial leverage, and investing for the future. He has been featured in publications such as The Points Guy, Million Mile Secrets, The Money Manual, Recruiter, Travel Pulse, and Bald Thoughts. He is a full-time digital nomad with his wife, Kiersten.

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