Petal® 1 "No Annual Fee" Visa® Credit Card full review (2024)

FAQs

Is Petal 1 no annual fee visa credit card good? ›

Since the Petal 1 Visa doesn't charge an annual fee, it's a good option for credit-building as well as building positive credit habits. This card doesn't charge foreign transaction fees either, so it can be a solid choice for international travel as well.

You need a fair credit score of 640+ to get the Petal® 1 Visa® Credit Card if you already have a credit score, but you can also qualify if you have limited credit or no credit history at all. Other important factors such as your income and existing debts will affect whether you're approved as well.

Petal cards are legitimate payment methods and credit-building options that report payments to all three major credit bureaus. For all three cards, the terms and conditions may vary for certain cardholders.

No credit history, no problem

Getting a credit card when you have no credit history can be tough. But with the Petal® 2 Visa® Credit Card, you don't need prior experience with credit to apply.

Petal 1 accounts have late payment and returned payment fees. Petal 1 Rise also has an annual membership fee. Petal 2 is our most advanced card yet, and it's designed for those with fair-to-good credit or cash flow. With Petal 2, you can enjoy all the perks of a cash back card without any of the fees.

The Petal® 2 Visa® Credit Card requires at least fair credit (640+ credit score) if you've already established credit history. Otherwise, you don't need a specific credit score to get the Petal® 2 Visa® Credit Card because it is available to people with no credit.

You are not currently eligible if: Your current address is a correctional institution. You have previously applied for and were approved, or currently have a Petal card account. You have filed for bankruptcy within the past 48 months.

The Petal® 1 "No Annual Fee" Visa® Credit Card is accepted anywhere that Visa is accepted both in the US and internationally (with no foreign transaction fees). You can use the Petal® 1 "No Annual Fee" Visa® Credit Card for in-person transactions and online.

No, Petal cards are not secured cards and no deposit of any kind is required. In comparison to secured cards and many introductory credit cards, Petal also offers higher credit limits and lower interest rates.

Linking your bank accounts gives you access to our full suite of product features, which we created to make your financial life easier. The more accounts you link, the more we can help you plan your spending by showing you what you have, what you owe, and where you may be able to save.

What bank owns the Petal card? ›

Petal's issuing bank is WebBank—an FDIC-insured financial institution based in Utah. Petal partners with WebBank and services to issue the credit card accounts.

Petal's Leap program offers the possibility of getting a credit limit increase in six months if you make on-time payments and qualify.

Petal 1 members who do not already have the maximum credit limit of $5,000, and Petal 2 members who do not already have the maximum limit of $10,000, are also eligible.

You will be charged a monthly membership fee of $8. The monthly membership fee will appear on your monthly billing statement.

You may be able to qualify for the Petal 1 Credit Card with a bad credit score or even no credit score — but there's no guarantee you'll be approved. The card is designed to help you build or rebuild credit, and looks at factors beyond your credit score when reviewing your application.

A credit card with no annual fee is a great way to build your credit when used responsibly. If you don't use a credit card often. If you know you're not likely to use a credit card regularly then a no annual fee credit card could be perfect to suit your needs. If you don't require the additional benefits.

Everyone is considered for credit limit increases automatically on a regular basis. Unlike big bank credit cards who make you ask for a credit line increase, your account is checked periodically to see if you're eligible for a larger limit.