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Petal® 2 "Cash Back, No Fees" Visa® Credit Card Review: A Leading Card to Build Credit

Review Updated
Lyle Daly
By: Lyle Daly

Our Credit Cards Expert

Many or all of the products here are from our partners that compensate us. 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.

Issued by WebBank, the Petal® 2 "Cash Back, No Fees" Visa® Credit Card is the first card from Petal, a company that is clearly looking to make waves in the credit card industry. It's one of the more unique cards on the market: Not only does this fee-free card offer an impressive cash back rate, but you can also get it with zero credit history and no security deposit. We'll explain why we think it's also among the best credit cards if you are building credit in our Petal® 2 "Cash Back, No Fees" Visa® Credit Card review.

Great for: No credit history and building credit

Rating image, 4.00 out of 5 stars.
4.00 stars
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:
Fair/New to Credit Under(669) 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.

Regular APR

7.99% - 31.99% Variable

  • People with no or limited credit histories will be hard pressed to beat it. The rewards program and lack of fees are clear standouts in the category.

    • No credit history required
    • Competitive cash back rewards
    • No fees
    • Fixed payment due date
    • No 0% intro APR offer
    • No fees whatsoever. No late fee, foreign transaction fee, annual fee, or any-other-kind-of-fee, fee.
    • Variable APRs range from 7.99% - 31.99%
    • Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments.
    • 1% cash back on eligible purchases right away
    • 2% - 10% cash back at select merchants
    • $300 - $10,000 credit limits
    • No credit score? No problem. If eligible, we'll create your Cash Score instead.
    • See if you're pre-approved within minutes without impacting your credit score.
    • Build credit alongside hundreds of thousands of Petal card members.
    • Petal reports to all 3 major credit bureaus.
    • No deposits required
    • Card issued by WebBank

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

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.

Learn more: Best Starter Credit Cards for No Credit

Up to 1.5% cash back

The Petal® 2 "Cash Back, No Fees" Visa® Credit Card earns 1% cash back on eligible purchases to start, but that increases to 1.5% back on eligible purchases after you've made 12 on-time payments. These payments don't need to be consecutive. If you make seven on-time payments, miss one, and then make another five on time, you'll start earning 1.5% back.

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. Credit cards for building credit tend to pack in nuisance fees, but that isn't the case here.

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

Read more: 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 up front, 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.

For more options, take a look at our picks for the best cash back credit cards.

Alternatives to consider

  • If you want to earn more rewards: The Discover it® Student Cash Back is available to both students and people building credit. It offers up to 5% cash back in rotating quarterly categories that you activate, on up to $1,500 worth of purchases quarterly. Plus, it even has a sign-up bonus. Discover will automatically match all the cash back you’ve earned at the end of your first year for new cardholders.
  • If you want a secured credit card with a low deposit requirement: Just about anyone can apply for the Discover it® Secured Credit Card. This secured card requires a deposit of at least $200. It also offers 2% cash back on up to $1,000 in gas and restaurant purchases each quarter and 1% back on all your other purchases.

See more: Best Rewards Credit Cards

As of Jun. 06, 2023
Image for
Image for
Image for
Petal® 2 "Cash Back, No Fees" Visa® Credit Card Discover it® Student Cash Back Discover it® Secured Credit Card
Rating image, 4.00 out of 5 stars.
4.00 stars
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
Rating image, 5.00 out of 5 stars.
5.00 stars
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
Rating image, 5.00 out of 5 stars.
5.00 stars
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
Rates & Fees Rates & Fees Rates & Fees

Credit Rating Requirement:

Fair/New to Credit Under(669) 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.

Credit Rating Requirement:

Fair/New to Credit Under(669) 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.

Credit Rating Requirement:

New/Rebuilding Under(579) 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.

Welcome Offer:

Welcome Offer: Circle with letter I in it. Discover will match all the cash back you’ve earned at the end of your first year.

Cashback Match

Welcome Offer: Circle with letter I in it. Discover will match all the cash back you’ve earned at the end of your first year.

Cashback Match

Rewards Program:

Rewards Program: Circle with letter I in it. 5% cash back at different places each quarter up to the quarterly maximum when you activate. 1% unlimited cash back on all other purchases - automatically

1% - 5% Cashback

Rewards Program: Circle with letter I in it. 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically

1% - 2% Cashback

Intro APR:

Purchases: —

Balance Transfers: —

Intro APR:

Purchases: 0%, 6 months

Balance Transfers: 10.99%, 6 months

Intro APR:

Purchases: n/a

Balance Transfers: 10.99%, 6 months

Regular APR:

7.99% - 31.99% Variable

Regular APR:

17.99% - 26.99% Variable APR

Regular APR:

27.99% Variable APR

Annual Fee:

Annual Fee:

$0

Annual Fee:

$0

Highlights:

  • No fees whatsoever. No late fee, foreign transaction fee, annual fee, or any-other-kind-of-fee, fee.
  • Variable APRs range from 7.99% - 31.99%
  • Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments.
  • 1% cash back on eligible purchases right away
  • 2% - 10% cash back at select merchants
  • $300 - $10,000 credit limits
  • No credit score? No problem. If eligible, we'll create your Cash Score instead.
  • See if you're pre-approved within minutes without impacting your credit score.
  • Build credit alongside hundreds of thousands of Petal card members.
  • Petal reports to all 3 major credit bureaus.
  • No deposits required
  • Card issued by WebBank

Highlights:

  • INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
  • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • No credit score required to apply.
  • Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
  • No annual fee and build your credit with responsible use.
  • 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 17.99% - 26.99% applies.
  • Click through to Discover’s website to see terms and conditions.

Highlights:

  • No credit score required to apply.
  • No Annual Fee, earn cash back, and build your credit history
  • Your secured credit card requires a refundable security deposit, and your credit line will equal your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.
  • Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites. Activate for free.
  • Click through to Discover’s website to see terms and conditions.
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What could be improved

Fixed 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.

Find the best credit card for your needs

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

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.

Keep in mind that although this card is excellent for building credit, it's not intended for rebuilding credit. If you've had problems with missed payments in the past, they could prevent you from being approved.

The application process for the Petal® 2 "Cash Back, No Fees" Visa® Credit Card is different than that of most other cards. To apply, you need an invite code from Petal. If you don't have one, you can still click the "Apply" button on the Petal website, enter your information, and go through a preapproval process, which doesn't affect your credit score. If Petal preapproves you, it will send you an email with an invitation to officially apply for the card.

The Petal 2 Credit Card is right for you if:

If your goal is to build your credit, then you should strongly consider applying for the Petal® 2 "Cash Back, No Fees" Visa® Credit Card. It doesn't charge any fees, it doesn't require a deposit, and after 12 on-time payments, it earns a great cash back rate. You can't ask for much better than that from a credit card you can get without any credit history.

FAQs

Our Credit Cards Expert