Chip Lupo, Credit Card Writer
@CLoop
The minimum requirements for the Petal 1 Card are a credit score of less than 3 years of credit history or higher, a valid Social Security number or International Tax Identification Number and enough income to make monthly minimum payments. Applicants also must be at least 18 years old and have a physical U.S. address.
Minimum Petal 1 Card Requirements
- Enough income to make the monthly minimum payment
- Social Security number or International Tax Identification Number
- 18+ years old with a checking or savings account
- Little-to-no credit, or at least fair credit (less than 3 years of credit history+ credit score)
- Employment information
- Physical U.S. address (no P.O. boxes)
If you apply for the Petal 1 Card, make sure you enter all the required information completely and accurately. Knowingly reporting false or misleading information on a credit card application is a federal crime. Similarly, keep in mind that the above requirements are guidelines and approval is never guaranteed.
In case you don't know where you stand, you can check your credit score for free, right here on WalletHub. It's also worth checking out our editor's guide on how to improve your credit score.
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People also ask
How do you get approved for a Petal card?
To get approved for a Petal card, you are required to have a valid email address, a U.S. telephone number, and a Social Security number or Individual Taxpayer Identification Number. Applicants must also be at least 18 years old and a permanent resident of the United States or a U.S. military location. Having limited credit or better and earning enough money to pay your bills is required for approval as well.
Minimum Petal Card...
read full answer by Cameron DiGiovanni, WriterDoes the Petal One Credit Card do a hard inquiry?
Yes, the Petal 1 Card does run a hard inqurity when you apply for it. This might have a short-term negative effect on your credit score. This might have a short-term negative effect on your credit score.
However, when you submit your information for pre-approval, the issuer will only perform a soft pull on your credit which won’t affect your credit score. Just keep in mind that being pre-approved doesn’t guarantee your approval for a new...
read full answer by Evelyn Boros, Credit Cards ModeratorWhat is a good income for a credit card?
A good annual income for a credit card is more than $81,000 per year, since that puts you above the U.S. median. At the very least, you are required to have enough income to afford the monthly minimum payments on a credit card, along with your other financial obligations.
Having enough money to pay the monthly bills is the only official minimum income requirement for credit card approval in general, but individual credit card...
read full answer by WalletHub, Financial CompanyDid we answer your question?
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