Last updated on September 11th, 2023
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Petal® 1 "No Annual Fee" Visa® Credit Card Review
The Petal 1 “No Annual Fee” Credit Card is an entry-level offering designed to help establish and build credit.
No Annual Fee
According to Petal, the Petal 1 Visa “is a different card, designed to include an even larger audience.” So the reasoning goes that this audience is those consumers who have a credit history but want to improve it responsibly – and affordably. While this is a noble venture, the credit builder marketplace is hardly underserved.
The major selling point of the Petal 1 Visa is the lack of an annual fee. No annual fee credit repair credit cards – or no annual fee bad credit credit cards – are uncommon, but not unheard of. Other fintech firms also provide access to entry-level credit cards for people seeking to build credit, with the Jasper Mastercard and Deserve EDU being two notable examples.
Still, the prospect of no annual fee or set-up fees when building credit is a great perk with the Petal 1 Card.
Cash Score Creditworthiness Model
Petal can generate insights into an applicant’s creditworthiness on their proprietary “Cash Score.” This process analyzes credit history, banking, and other aspects of an applicant’s history to gauge their creditworthiness. Petal says this provides access to higher credit limits and broader acceptance. Credit limits with the card range from $300 to $5,000 based on creditworthiness, with the latter being an impressive credit line for someone seeking to build up their FICO score.
| How Does Petal Calculate Your Cash Score? | |
|---|---|
| Your Cash Score is a method Petal has created to compliment your credit score. Your Cash Score includes: | |
| ① Your monthly income in your linked bank account. | |
| ② How much you pay in bills every month. |
Petal Credit Card Comparison
Here’s how the two Petal credit cards compare:
 Petal 1® Visa |
 Petal 2 Visa® |
| No rewards on all purchases | Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments; 1% back on all other purchases |
| Earn between 2% and 10% back on purchases with select retailers | Earn between 2% and 10% back on purchases with select retailers |
| Best for No Credit | Best for Fair Credit |
Other Features
Other notable features with the Petal 1 “No Annual Fee” Visa Credit Card include:
- Earn between 2%-10% on purchases at select merchants
- Monthly reporting to the three major credit bureaus (Experian, Equifax, and TransUnion)
- Basic Visa perks and protection, including Zero Fraud Liability, Roadside Dispatch, and more
Visa Traditional protections and benefits include:
| Zero Fraud Liability | Cardholder Inquiry Services | Emergency Card Replacement |
| Roadside Dispatch and Auto Collision Damage Waiver | Lost/Stolen Card Reporting | ID Navigator from Norton |
Petal Ratings
How does the Petal stack up? Here is a selection of expert reviews for the card:
| BestCards | Better Business Bureau | TrustPilot |
|
3/5 |
2/5 |
2.5/5 |
Should You Apply for the Petal® 1 “No Annual Fee” Visa® Credit Card?
Overall, the Petal® 1 “No Annual Fee” Visa® Credit Card is an enticing offer for consumers seeking to build a positive credit history with on-time payments and responsible credit use. Most credit cards for poor credit scores come with an annual fee, making a card without such a charge an exciting opportunity.
While the Petal 1 lacks any exciting bells and whistles, like meaningful rewards or a signup bonus, the lack of fees, decent APR, and expanded availability for more expansive credit scores make it a worthwhile card to consider.
