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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.
Petal® 2 "Cash Back, No Fees" Visa® Credit Card
Great for: No credit history and building credit
Fair/New to Credit Under(669)
Regular APR
18.24 - 32.24% Variable
Rewards
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.
If you need to build or rebuild 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.
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 |
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Rating image, 5.00 out of 5 stars.
5.00/5
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 |
Discover will match all the cash back you've earned at the end of your first year. N/A | 1% - 5% Cashback 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—automatically. |
Intro: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months Regular: 17.24% - 28.24% Variable APR |
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Rating image, 5.00 out of 5 stars.
5.00/5
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 |
Up to $300 cash back Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases. | 1.5% - 5% cash back Enjoy 5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases |
Intro: 0% Intro APR on Purchases and Balance Transfers for 15 months Purchases: 0% Intro APR on Purchases, 15 months Balance Transfers: 0% Intro APR on Balance Transfers, 15 months Regular: 20.49% - 29.24% Variable |
Apply Now for Chase Freedom Unlimited®
On Chase's Secure Website. |
|
Apply Now for Chase Sapphire Preferred® Card
On Chase's Secure Website. |
Rating image, 4.50 out of 5 stars.
4.50/5
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 |
75,000 bonus points Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel℠. | 5x on travel purchased through Chase Travel℠, 3x on dining and 2x on all other travel purchases Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more. |
Intro: N/A Purchases: N/A Balance Transfers: N/A Regular: 21.49%-28.49% Variable |
Apply Now for Chase Sapphire Preferred® Card
On Chase's Secure Website. |
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.
Here's a look at the most valuable benefits with this Petal credit card.
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
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:
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.
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.
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
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:
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.
This Petal card has a couple of notable drawbacks.
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
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.
Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.
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.
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.
At The Motley Fool Ascent, 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 The Ascent rates credit cards.
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.
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