Many or all of the products here are from our partners. We may earn a commission from offers on this page. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.
The Petal® 1 "No Annual Fee" Visa® Credit Card is worth considering for people with limited credit histories or those who are building credit. There's no annual fee and cardholders can earn up to 10% cash back at select merchants. This card has several other perks that we like, and we'll cover them all in our Petal® 1 "No Annual Fee" Visa® Credit Card review.
Petal® 1 "No Annual Fee" Visa® Credit Card
Great for: Building credit
Rating image, 4.00 out of 5 stars.
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.
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. 4.00/5
Intro APR
Purchases: N/A
Balance Transfers: N/A
Regular APR
19.99% - 29.49% Variable
Rewards
2%-10% cash back at select merchants
Annual Fee
$0
Welcome Bonus
N/A
-
The combination of cutting fees competitors charge, along with the opportunity to earn rewards, makes this a worthwhile card to consider when building credit.
-
- Easy approval process
- No annual fee
- Rewards from select merchants
- No foreign transaction fee
- Limited rewards opportunities
- No 0% intro APR offer
-
- $0 Annual Fee
- $500-$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
- Variable APRs 19.99%-29.49%
- No annual or foreign transaction fees.
- Build credit alongside tens of thousands of Petal Card members
- Petal's mobile app makes it easy to manage your money, track your spending, and automate payments
- See if you're pre-approved within minutes without impacting your credit score
- Petal reports to all 3 major credit bureaus
- No deposits required
- Card issued by WebBank, Member FDIC
Full Petal 1 Visa® Card review
This credit card is a good fit for: Consumers who haven't established a credit history yet or have a bad credit score due to some previous problems.
Top perks
Easy approval: Petal makes the approval process as simple and stress-free as possible. People with complicated credit or with no credit history at all are eligible for the Petal® 1 "No Annual Fee" Visa® Credit Card. If you haven't established a credit history yet, you can link your bank accounts when you apply. Petal uses the payment information from your banking transactions to help decide whether to approve you. You can also see if you're likely to get approved for this credit card before you apply. Petal's pre-approval tool won't impact your credit score, so there's no risk to using it.
No annual fee: The best credit cards for building and rebuilding credit are no annual fee cards, and there's no annual fee for this Petal card. You can use it to improve your credit without it costing you.
Rewards with select merchants: When you use the Petal® 1 "No Annual Fee" Visa® Credit Card at participating merchants, you earn between 2% and 10% cash back on eligible purchases, depending on the merchant's specific offer. Petal's lineup of participating merchants currently includes over 20 national offers and over 500 local offers. The cash back rate with this card at participating merchants is excellent.
No foreign transaction fees: You won't need to pay extra if you use your Petal® 1 "No Annual Fee" Visa® Credit Card while you're traveling internationally. The lack of foreign transaction fees is a helpful perk we don't see very often from credit cards for bad credit.
High credit limits: Petal offers credit limits of $500 to $5,000 for the Petal® 1 "No Annual Fee" Visa® Credit Card. The benefit of a high credit limit is that it can helps you keep your credit utilization ratio down.
What could be improved
Rewards on everyday spending: The Petal® 1 "No Annual Fee" Visa® Credit Card doesn’t earn cash back anywhere except participating merchants. That limits the value you'll get from it, especially compared to other cash back credit cards.
It's also disappointing when you consider that the Petal® 2 "Cash Back, No Fees" Visa® Credit Card offers cash back on purchases and up to 2% to 10% back with its merchant offers. The Petal® 1 "No Annual Fee" Visa® Credit Card likely doesn't have those same perks because it's an option for consumers who are rebuilding credit, whereas Petal's original card isn't.
Find the best credit card for your needs
Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.
Alternatives to consider
- If you're building credit and want more rewards: The Petal® 2 "Cash Back, No Fees" Visa® Credit Card has many of the same perks as its younger sibling. Its main advantages are 1% cash back on purchases to start, which increases to 1.5% back after you've made 12 on-time monthly payments, and credit limits of up to $10,000. The difference is that it's not intended for rebuilding credit.
- If you want a lucrative sign-up bonus: The Discover it® Secured Credit Card earns 2% back on up to $1,000 in purchases at gas stations and restaurants each quarter, plus 1% back on other purchases. To make it even better, Discover will automatically match all the cash back you’ve earned at the end of your first year for new cardholders. This is a secured credit card, though, so you must pay a deposit to open it.
As of Oct. 19, 2021
|
|
|
Petal® 2 "Cash Back, No Fees" Visa® Credit Card |
Discover it® Secured Credit Card |
|
Rating image, 4.50 out of 5 stars.
4.50 stars
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.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. |
Rating image, 5.00 out of 5 stars.
5.00 stars
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.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. |
|
Apply Now
On Discover's Secure Website. |
|
| Read Full Review | |
| Rates & Fees | Rates & Fees |
|
Credit Rating Requirement: |
Credit Rating Requirement: |
|
Welcome Bonus: N/A |
Cashback Match |
|
1% - 1.5% cash back |
1% - 2% Cashback |
|
Intro APR: Purchases: N/A Balance Transfers: N/A |
Intro APR: Purchases: N/A Balance Transfers: 10.99%, 6 months |
|
Regular APR: 12.99% - 26.99% Variable |
Regular APR: 22.99% Variable APR |
|
Annual Fee: $0 |
Annual Fee: $0 |
|
Highlights:
|
Highlights:
|
|
Apply Now
On Discover's Secure Website. |
|
Show More
Show Less
|
|
The Petal® 1 "No Annual Fee" Visa® Credit Card is right for you if:
You're looking for your first credit card so you can start building credit, or you need to rebuild credit after missteps.
With its benefits, the Petal® 1 "No Annual Fee" Visa® Credit Card is one of the top credit cards for those with no credit, bad credit, or even fair credit. You don't need to pay a security deposit or an annual fee; you can get a high credit limit compared to other cards; and you'll earn impressive cash back rates at Petal's partner merchants.
About the Author
Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. He writes for The Ascent and The Motley Fool, and his work 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.
Share This Page
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. The Motley Fool has a Disclosure Policy. The Author and/or The Motley Fool may have an interest in companies mentioned.
The Motley Fool has no position in any of the stocks mentioned.
