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Petal 2 Credit Card Review: No Fees and No Credit History Required

Review Updated
Lyle Daly
Author: Lyle Daly
Lyle Daly
Lyle Daly
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Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. His work with Motley Fool Money and The Motley Fool has appeared in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.

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Fact Checked: Nathan Alderman
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Issued by WebBank, the Petal® 2 "Cash Back, No Fees" Visa® Credit Card is one of the more unique starter credit cards. It's offered by Petal, a fintech company that's able to approve you for a card based on your banking information. That makes it easier to get than most credit cards, and it also earns cash back rewards. Read our in-depth Petal® 2 "Cash Back, No Fees" Visa® Credit Card review for all the details on its features.

Ratings Methodology

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

Great for: No credit history and building credit

Petal® 2 "Cash Back, No Fees" Visa® Credit Card
Rating image, 4.25 out of 5 stars.
4.25/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
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= Fair
= Poor
Rating image, 4.25 out of 5 stars.
4.25/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Fair/New to Credit Under(669)
Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Fair/New to Credit Under(669)

Intro APR

Purchases: n/a

Balance Transfers: n/a

Regular APR

18.24 - 32.24% Variable

  • If you need to build credit, pay attention to this card. You qualify based on bank information, rather than credit, and there are no fees of any kind. Best of all, if you pay your monthly bill on time every time, your cash back rate will grow from 1% to 1.5% on purchases over your first year.

    • For rebuilding credit
    • No credit history required
    • Competitive cash back rewards
    • No fees
    • Fixed payment due date
    • No fees whatsoever. No late fee, foreign transaction fee, annual fee, or any-other-kind-of-fee, fee.
    • Up to 1.5% cash back on unlimited everyday purchases (1% right away increases to 1.25% after 6 monthly on time payments and 1.5% after another 6 monthly on time payments)
    • 2-10% cash back at select local and national merchants
    • See if you’re pre-approved in minutes without impacting your credit score
    • No Credit Score? No problem. Credit history isn’t required for approval
    • Get an automatic credit limit increase after 6 qualifying on time monthly payments. Terms apply
    • No security deposit required
    • Petal reports to all 3 major credit bureaus
    • Pay with ease with a contactless card or on your phone using Apple Pay, Google Pay, or Samsung Pay
    • Card issued by WebBank

Credit card comparison

We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.

Offer Our Rating Welcome Offer Rewards Program APR Learn More
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for cash back on rotating categories 		Discover will match all the cash back you’ve earned at the end of your first year. 1% - 5% Cashback Circle with letter I in it. 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.

Intro:

Purchases: 0%, 15 months

Balance Transfers: 0%, 15 months

Regular: 18.49% - 27.49% Variable APR

Apply Now for Discover it® Cash Back

On Discover's Secure Website.

Rates & Fees External Link Icon

Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for cash rewards on everyday spending 		$200 cash rewards Circle with letter I in it. Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. 2% cash rewards Circle with letter I in it. Earn unlimited 2% cash rewards on purchases.

Intro: Circle with letter I in it. 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers

Purchases: 0% intro APR, 12 months from account opening

Balance Transfers: 0% intro APR, 12 months from account opening on qualifying balance transfers

Regular: 19.49%, 24.49%, or 29.49% Variable APR

Apply Now for Wells Fargo Active Cash® Card

On Wells Fargo's Secure Website.

Rates & Fees External Link Icon

Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for unlimited rewards on purchases 		25,000 points Circle with letter I in it. 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases 1.5 points per dollar Circle with letter I in it. Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees, and your points don't expire as long as your account remains open.

Intro: Circle with letter I in it. 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.49% - 28.49% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers.

Purchases: 0% Intro APR for 15 billing cycles for purchases

Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days

Regular: 18.49% - 28.49% (Variable)

Apply Now for Bank of America® Travel Rewards credit card

On Bank of America's Secure Website.

Full Petal 2 Credit Card review

This credit card is a good fit for: People with limited or no credit history looking for a fee-free card to build their credit.

Top perks

Here's a look at the most valuable benefits with this Petal credit card.

No credit history required

The Petal® 2 "Cash Back, No Fees" Visa® Credit Card is ideal for consumers who are new to credit, because you don't need any credit history to get the card. If you have no credit, you can link your bank accounts during the application process. Petal will then use information from those accounts to evaluate your application.

SEE MORE: Best Starter Credit Cards for No Credit

Up to 1.5% cash back

The Petal® 2 "Cash Back, No Fees" Visa® Credit Card rewards you for paying on time. It earns the following rates on all eligible purchases:

  • 1% cash back to start
  • 1.25% cash back after six on-time payments
  • 1.5% cash back after 12 on-time payments

Those payments don't need to be consecutive -- but it's always a good idea to pay on time. While there are some top cash back cards that earn more, 1.5% is a great rate for a starter credit card.

Bonus cash back with Petal Offers

As a cardholder, you're automatically enrolled in Petal Offers. These are merchant-specific deals allowing you to earn between 2% and 10% cash back. Offers like these are a nice way to maximize your rewards while building your credit.

No fees

You won't need to worry about any fees with this card. It doesn't charge an annual fee, late payment fees, foreign transaction fees, or any of those other credit card fees that cost you money.

Note that you will pay interest if you don't pay your entire statement balance, but that's standard with any credit card.

MORE OPTIONS: Best No Annual Fee Credit Cards

Petal app

In addition to this credit card, Petal also offers an application that you can link to your card and most financial institutions. The Petal app includes several features that can help you improve your financial situation, including:

  • Estimates of how much interest you'll pay based on your credit card payment amount
  • A "Spend Planner" that lets you set a budget and track your spending each month
  • A credit score tracker

No security deposit

Secured credit cards are a typical go-to option for consumers with no credit history, but they require a security deposit upfront, which can be tough to manage if money's tight. This card doesn't, so you won't need to pay a thing to get started with Petal.

What could be improved

This Petal card has a couple of notable drawbacks.

Not for rebuilding credit

While the Petal® 2 "Cash Back, No Fees" Visa® Credit Card is great for building credit, it's not designed for rebuilding credit. If you have a low credit score due to late payments, bankruptcy, or other issues, it's unlikely you'll be approved for this card. In that case, you'll need to look at other options.

RELATED: Best Credit Cards for Bad Credit

Can't change payment due date

Petal doesn't give you the option of picking a payment due date, so you're stuck with the date you get. Plenty of other credit cards offer this feature, which can be nice if you want to set your payment due date for right after you get paid. If that's important to you, you may want to explore more credit card reviews.

Find the best credit card for your needs
Image of reviewer

Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.

Compare Cards

Suggested credit score

The Petal® 2 "Cash Back, No Fees" Visa® Credit Card is available to consumers with no credit history or a limited credit history, so you don't need any specific credit score to get it. If you do have a credit history, Petal will review it during the application process.

Petal may ask you to link your bank account during the application process. If so, it will use this to calculate a Cash Score based on the money you make and the bills you pay. Petal uses that Cash Score to help decide whether to approve your application.

Keep in mind that this Petal card is for consumers building their credit for the first time, not for those who have low scores because of negative items on their credit history. Petal offers another credit card for rebuilding credit: The Petal® 1 "No Annual Fee" Visa® Credit Card.

The Petal 2 Credit Card is right for you if:

You're new to credit and want to start building your credit score. The Petal® 2 "Cash Back, No Fees" Visa® Credit Card is one of the best credit cards for those with thin credit files. It doesn't charge any fees, there's no deposit required, and after 12 on-time payments, it earns a high cash back rate.

Our credit card methodology

At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how Motley Fool Money rates credit cards.

FAQs

  • The credit limit for Petal® 2 "Cash Back, No Fees" Visa® Credit Card ranges from $300 to $10,000 depending on your creditworthiness.

  • Yes, you can get prequalified for this card. To check if you prequalify for that and other Petal credit cards, go to the Petal website to see offers and fill out their form. After you submit it, Petal will let you know if you prequalify for any of its cards.

  • Customer service for this Petal card has mixed reviews. Some consumers have ranked Petal's customer service highly, whereas others have called it unhelpful. Since Petal is one of the smaller credit card issuers, it hasn't been part of any major customer service studies yet.