How does the Petal 1 Visa Card work?

Check it out right now with more details. How it works, fees, interest rates, and much more.

Founded in 2016, Petal offers Visa credit cards aimed at customers who have bad or no credit history.

Petal 1 Visa may be a good option to help customers make progress toward their financial goals and it’s perfect for whom want to build credit from scratch.

Check out below for more information!

On credit card page

How does it work and who issues it?

The Petal 1 Visa is a credit card suitable for those who don’t have a lot of credit, it doesn’t require a security deposit in advance.

The card also has a cashback program where you can get up to 10% cash back at select merchants.

One of the best advantages of this card is that the credit analysis does not affect your credit score, that is, the analysis is not based on your credit history, this way, it is not a problem if you don’t have a good score. If eligible, Petal will create your Cash Score.

Furthermore, it offers a nice limit and has no fee and the best rates.

What is the card limit?

The card offers a very attractive limit of $300 – $5,000, so you can make all your purchases without worry.

Does it have interest rates?

• Regular APR: 24%-31.74% (Variable).
• Purchase Intro APR: non-applicable.
• Balance Transfer Intro APR: non-applicable.

Does it have fees?

• Annual fee: $0.
• Cash advance: 2%-10% cash back at select merchants.
• Foreign purchase transaction fee: No foreign transaction fees.

Who can get the card?

People who have a bad/no credit score, therefore, you will need a credit score of at least 300 to have a chance of qualifying.

How to apply for it?

To apply for the Petal 1 Visa card, it is necessary to submit for pre-approval which you will find out if you may be eligible or not. Therefore, you will be asked for the following information:

• Personal information: Name, birth of date, nationality, email address, phone number, etc.
• Contact information: Phone number and current address.
• Finance information: Annual personal income, your employment status, employer contact details, etc.

What happens after you apply for the Petal 1 Visa?

After the application Petal 1 Visa will send you an email to let you know if you’ve been approved for a Petal card along with your credit limit and APR.

Frequently asked questions:

How long does it take for Petal to increase credit limit?

It takes about six months.

Is it hard to get approved for a petal card?

No, it is not that difficult to get Petal cards.

Can I get a Petal card if I live outside of the U.S.?

Not yet! Today, Petal is only available to permanent legal U.S. residents of the 50 states.