Advertiser Disclosure – BestCards is an independent, Florida-based credit card comparison platform. Many of the card offers that appear on this site are from companies from which BestCards receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). BestCards does not include all card companies or all card offers available in the marketplace.
Editorial Disclosure – The opinions expressed on BestCards’ reviews, blogs, and all other content on or relating to the website are solely those of the content’s author. They are not reflective of any card issuer or financial institution and have not been reviewed or approved by these entities unless otherwise noted. Further, BestCards lists credit card offers that are updated daily with information believed to be accurate to the best of our knowledge.
Last updated on September 9th, 2021
- No annual fee
- No foreign transaction fees
- Up to 1.5% cash back after making 12 on-time monthly payments
- Up to 10% back with select merchants
- Regular Purchase APR: 12.99% to 26.99% variable based on creditworthiness and the Prime Rate
At a Glance
The Petal 2 Visa® Credit Card is a decent option for those looking to raise their credit score but don’t want to pay fees. The card offers up to 1.5% cash back on all purchases and features no annual fee, no foreign transaction fees, and more. The card is issued by Petal, a fintech firm, in partnership with WebBank.
Ideal for Those Who:
- Don’t want to pay an annual fee
- Plan to make their monthly payment on-time each month
- Hate hidden fees
- Have average credit
Petal® 2 “Cash Back, No Fees” Visa® Credit Card Review
The Petal® 2 “Cash Back, No Fees” Visa® Card is a no annual fee, cash back rewards credit card for people serious about boosting their credit score.
1% Unlimited Cash Back to Start
The most significant difference between the Petal 2 and Petal 1 is that the Petal® 2 “Cash Back, No Fees” Visa® Credit Card earns 1% cash back on all purchases. This 1% cash back isn’t spectacular, as it is a common feature with an ever-increasing number of credit builder cards, plus many checking and debit accounts.
After six on-time payments, that 1% cash back becomes 1.25%, not bad. However, the real highlight with the Petal 2 is that the 1% cash back becomes 1.5% unlimited cash back after a string of 12 consecutive on-time payments. A credit card aimed at consumers with subprime credit scores (namely, average credit) 1.5% cash back on all purchases is somewhat tempting.
The Petal 2 Visa also earns between 2% and 10% back on purchases with select retailers. This feature also appears with the Petal 1 Visa – still, it is a nice little bonus for cardholders.
Cash Score Creditworthiness Model
Petal bases 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.
No Fees and an Excellent APR
Petal 2 offers an excellent APR for those with a good credit score. Applicants with a prime credit score can expect a purchase APR of around 13%, which is low even for a credit card for people with excellent credit. Even those receiving the card’s highest APR will get a rate in the mid-20s – and 3% lower than the highest APR with the Petal 1 Card.
The card also features the same lack of fees as the other offering from Petal, with no foreign transaction fees, no penalty APR, no late fees, no over-the-limit fees, and more.
Credit limits with the Petal® 2 “Cash Back, No Fees” Visa® Credit Card are also impressive. Credit lines start at $500 (the same as Petal 1) but rise to $10,000 – a very healthy credit limit, indeed.
Other notable features with the Petal 2 “Cash Back, No Fees” Visa Credit Card include:
- 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
Should You Apply for the Petal® 2 “Cash Back, No Fees” Visa® Credit Card?
The Petal® 2 “Cash Back, No Fees” Visa® Credit Card is an interesting credit card for several reasons. First, the card’s chance at more significant cash back with on-time payments is an excellent lure for those serious about building their credit and willing to put the work in.
Second, the excellent interest rates and generous credit limits are likely better than many applicants can find elsewhere. Finally, the lack of fees is a hallmark of any decent fintech credit card – and something the Petal credit cards knock out of the park.
These features make the Petal 2 an enticing credit card offer for people with decent credit who want an alternative to the other credit cards for fair credit scores on the market today. The Petal 2 Visa isn’t the most complete credit card available – by far – but it provides an excellent jumping-off point for those willing to put in the work – and desiring a great entry-level rewards card.