Card Spotlight: Petal® 1 “No Annual Fee” Visa® Credit Card

Petal® 1 “No Annual Fee” Visa® Credit Card is a welcome relief in an often times complex credit card environment.

Here’s how the company describes the card:

Petal® 1 “No Annual Fee” Visa® Credit Card has everything you need to stay on the financial fast track. Pay on time successfully each month, build credit, and avoid paying any fees. Then rinse, and repeat.

In other words, using a credit card, paying your bill, and building your credit history and score doesn’t have to be confusing. It can be simple if you have the right credit card (and technology) guiding you.

Four Things You Need to Know

The more research you do, the more you’ll realize that the Petal® 1 “No Annual Fee” Visa® Credit Card is designed with you—the consumer—in mind.

Here are four things you need to know:

• $0 Annual Fee
• Variable APRs range from 25.24% – 34.74%
• $300 – $5,000 credit limits
• Earn a credit limit increase in as little as 6 months. Terms and conditions apply.
• No credit score? No problem. If eligible, we’ll create your Cash Score instead.
• 2% – 10% cash back at select merchants
• See if you’re pre-approved within minutes without impacting your credit score.
• No annual or foreign transaction fees.
• Build credit alongside hundreds of thousands of Petal card members.
• Petal’s mobile app makes it easy to manage your money, track your spending, and automate payments.
• Petal reports to all 3 major credit bureaus
• No deposits required
• Card issued by WebBank

Transaction fee on cash-like transactions:  The fee is either $10 or 3% of the amount of each cash-like transaction, whichever is greater. Cash-like transactions are purchases but are subject to a fee. Examples of such transactions include but are not limited to: money orders, person-to-person money transfers (e.g., Venmo, CashApp), lottery ticket purchases, and gift card purchases. ATM withdrawals, balance transfers, and the purchase of cryptocurrency or other similar virtual or digital currency are not allowed. Please review the Cardholder Agreements (https://www.petalcard.com/legal-resources) for further details.

When you compare these four details to competing credit cards, you’ll come to find the Petal® 1 “No Annual Fee” Visa® Credit Card stacks up nicely.

Submit a Pre-approval Request

If you’re intrigued by everything the Petal® 1 “No Annual Fee” Visa® Credit Card offers, consider submitting a pre-approval request.

By doing so, you grant the company permission to evaluate your situation for multiple Petal credit card products.

While pre-approval does not guarantee account approval at a later time, it’s the first step in the process.

Note: submitting an application for pre-approval will not impact your credit score.

Other Unique Features

By now, you understand the basics of the Petal® 1 “No Annual Fee” Visa® Credit Card, including how the credit card works and the best way to apply.

But we don’t want to stop there. There are other unique features that make this card one of the best around:

• Access to a variety of tools: The Petal® 1 “No Annual Fee” Visa® Credit Card gives you access to all the tools you need to build your credit history, track your credit score, and stay out of debt.
• Reporting to all three major credit bureaus: All activity associated with your Petal® 1 “No Annual Fee” Visa® Credit Card is reported to Equifax, Experian, and TransUnion. So, as long as you’re responsible with how you use the card, it’ll have a positive impact on your credit score.
• Set a budget or freeze your card: If you have concerns about your spending, you can easily set a budget or freeze your credit card.

Final Thoughts on the Petal® 1 “No Annual Fee” Visa® Credit Card

The Petal® 1 “No Annual Fee” Visa® Credit Card is designed with consumers in mind. It provides high-level, competitive features meant to help you improve your financial situation.

If you’re interested in learning more, visit the Petal website and apply for pre-approval. You may find that this is the credit card you’ve been seeking.