The Petal 2 Visa Credit Card is great for building or improving credit in the United States. It has no annual, late, or foreign transaction fees, making it simple and cost-effective.
It doesn’t rely on your credit score for approval; no security deposit is required. In addition to being fee-free, the Petal 2 card offers cash back on purchases, making it a solid choice for those looking to establish or strengthen credit.
This card provides essential tools for managing credit effectively, helping users improve their credit standing.
Petal 2 Visa Credit Card: Detailed Review
The Petal® 2 Visa® Credit Card is great for building credit without fees. Unlike many starter cards, it doesn’t require a security deposit or charge an annual fee.
Issued by WebBank, the card uses an algorithm that goes beyond FICO scores, considering income, savings, and spending habits to assess creditworthiness.
The Petal® 2 Visa® also offers cash-back rewards, which are typically available to those with higher credit scores, making it a fee-free way to build credit and earn rewards globally, including in the United States.
Petal 2 Visa Credit Card Details
The Petal 2 Visa Credit Card is an easy option for those looking to build credit in the United States.
There’s no annual fee, security deposit, or complicated terms. It’s designed for individuals who want to establish or improve their credit.
Key Features:
- Card Type: Starter and Alternative Credit Card
- Annual Fee: $0
- Security Deposit: None
- APR: 29.49% – 31.49% Variable
- Foreign Transaction Fee: None
- Penalty APR: None
Rewards:
- 1% petal two cash back: On all purchases at the start.
- 1.25% Cash Back: After six on-time payments.
- 1.5% Cash Back: After twelve on-time payments.
- Up to 10% Cash Back: At select merchants.
Other Benefits:
- Credit Reporting: Payments are reported to major credit bureaus like TransUnion, Equifax, and Experian.
- Account Management: Easily track spending through the mobile app (iOS and Android) or mobile website. Get a preview of interest charges before carrying a balance.
- Visa Benefits: Includes auto rental collision insurance, theft coverage, roadside dispatch, and access to Visa Local Offers, such as Uber credits.
The Petal 2 Credit Card offers a straightforward way to build credit. It’s a solid choice for those who want a fee-free experience while earning cash-back rewards.
The card’s features are ideal for anyone looking to improve their credit score in the United States.
Petal 2 Visa Credit Card APR
Based on creditworthiness, the Petal 2 Visa Credit Card has a variable APR ranging from 29.49% to 31.49%. This is typical for a starter credit card, though an APR above 30% is less common.
To avoid interest charges, make paying off the balance in full each month a priority. This ensures you won’t incur any extra fees.
Petal 2 Visa Credit Card: Eligibility and Application Process
To apply for Petal 2 credit card, U.S. applicants must meet these key eligibility requirements:
- Age and Identification: Applicants must be 18 years old and have a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
- Income and Employment: A steady income from employment is required. Petal 2 does not check credit scores, making it accessible for those building or rebuilding credit.
Application Requirements
Once eligibility is confirmed, applicants will need the following documents to apply:
- Personal Identification: A government-issued ID or SSN.
- Proof of Income: Recent pay stubs, tax returns, or other income verification.
- Proof of Address: A utility bill or similar document to confirm your U.S. address.
Petal 2 accepts both physical and digital document submissions for convenience.
For support, applicants can reach Petal customer service at 855-697-3825 or visit their office at 215 S. State St., USA.
Petal 2 Visa Credit Card: How to Apply in Simple Steps
Applying for the Petal 2 visa card is straightforward. Follow these steps to complete the process:
- Step 1: Visit the Petal Website – Open a web browser and go to www.petalcard.com.
- Step 2: Select Petal 2 Visa Credit Card – Navigate to the Credit Cards section and choose the Petal 2 Visa Credit Card. This page highlights the card’s features and benefits.
- Step 3: Click “Apply Now” – Once you’ve reviewed the details, click the “Apply Now” button to begin.
- Step 4: Connect to Plaid – Use Plaid’s secure service to link your financial accounts. This step helps assess creditworthiness. Follow the on-screen instructions for a safe connection.
- Step 5: Complete the Application – Fill in the application form with accurate personal and contact details after linking accounts.
Petal 2 Visa Credit Card: Benefits and Perks
The Petal 2 Visa® Credit Card helps you build credit while offering solid rewards and no annual fees.
Easy Qualification Process
U.S. residents with a valid Social Security number or individual taxpayer identification number can apply for the Petal 2 Visa® Credit Card.
The card uses an advanced algorithm to evaluate creditworthiness, factoring in income, savings, and spending habits.
No traditional credit score is required. To apply, link your bank account to the algorithm to assess your financial situation.
No Security Deposit Required
Unlike many other cards that require a security deposit, the Petal 2 Visa® Credit Card offers an unsecured credit line. This allows you to build credit without having to front money for a deposit. The card makes managing credit simpler and more cost-effective.
Solid Rewards Program
Earn up to 1.5% cash back on purchases after a year of on-time payments.
Even at the base rate of 1%, this card offers competitive rewards compared to other popular cards like Capital One Quicksilver Cash Rewards and Chase Freedom Unlimited®. It’s a great choice for those who want to earn while building credit.
No Fees
The Petal 2 Visa® Credit Card charges no annual fees. It’s designed to keep costs low, offering a straightforward way to build credit without additional expenses.
Considerations of the Petal 2 Visa Credit Card
The Petal 2 Visa Credit Card helps build credit but has certain limitations that should be considered when deciding if it fits your financial needs.
Pros
- Qualify with alternative credit: Petal considers your credit score but also uses its Cash Score to assess your eligibility.
- Potential credit limit increases: Petal automatically reviews your account for credit limit increases. You can improve your chances through the Leap program by making six monthly payments of at least the minimum or 15% of your balance and keeping your VantageScore within range of your Leap goal.
- Visa Local Offers: Link your Petal 2 card to Uber to earn Uber credits for purchases at over 1,000 retailers, restaurants, and coffee shops in the United States.
Cons
- No welcome bonus: The Petal 2 card doesn’t offer a sign-up bonus, and you’ll need to wait at least 12 months to qualify for the second-tier cash-back rate. This is typical for starter credit cards, so use the card to build credit and eventually qualify for cards with better bonuses.
- Complicated rewards: The rewards structure can be hard to follow, especially with tiered systems that don’t always align with typical credit card benefits.
Petal 2 Visa Credit Card vs. Other Petal Cards
Petal offers several credit card options, each catering to different credit needs.
The Petal 2 Visa Credit Card stands out as the most flexible, offering no fees and a rewards program. Here’s a quick comparison of the Petal 2 Visa Credit Card and other Petal cards.
| Feature | Petal 2 Visa Credit Card | Petal 1 Visa Credit Card | Petal 1 Rise Visa Credit Card |
|---|---|---|---|
| Security Deposit | None | None | None |
| Annual Fee | $0 | $0 | $59 |
| Foreign Transaction Fees | None | None | None |
| Late Payment Fee | Up to $40 | Up to $40 | Up to $40 |
| Returned Payment Fee | Up to $29 | Up to $29 | Up to $29 |
| Rewards | Up to 1.5% cash back | None | None |
| Sign-up Bonus | None | None | None |
The Petal 2 Visa Credit Card provides the most value, especially for those looking for rewards.
The Petal 1 Visa and Petal 1 Rise Visa are simpler options for building credit without fees. This makes the Petal 2 Visa ideal for those who want to earn cash back while avoiding high fees.
Conclusion
The Petal 2 Visa Credit Card is a strong option for those in the United States looking to build or improve their credit.
It offers cashback rewards, no annual fees, and simple terms.
Designed for individuals with limited credit history, it allows access to credit while encouraging responsible use. This makes it an effective tool for improving creditworthiness.
