Petal® Visa® Credit Card

The Petal® Visa® Credit Card is one of the best starter credit cards available to people with limited or no credit history. With $0 fees across the board, rewards equal to 1 - 1.5% Cash Back on all purchases, and monthly credit-bureau reporting, the Petal Card has all the ingredients needed to grow a good credit score and take a newcomer’s finances from seed to sprout to full bloom.

Getting approved for the Petal Card shouldn’t be too difficult, even for young people with limited or no credit experience. The card’s main requirements are that an applicant must be at least 18 years old and a legal U.S. resident with a Social Security number or Individual Taxpayer Identification Number and enough income or assets to afford monthly bill payments, in light of existing financial obligations.

The key to making the Petal Card pay off is to pay the full statement balance owed by each due date. On-time payments will make the card more rewarding over time. And by paying in full, you can avoid the card’s potentially high interest rate.

If you’re not sure whether applying for the Petal Card is the right move for you, we’ll explain the most important considerations in more detail below.

Petal Card Review Highlights:

• Annual Fee: $0

“No annual fee” is the most important credit card feature for newcomers. Annual fees can easily outweigh the value of rewards on starter credit cards.

• Rewards Rates: 1 - 1.5% Cash Back

The Petal Visa Card gives at least 1% cash back on all purchases. The earning rate goes up to 1.25% cash back after six straight months of on-time payments, and it jumps again – to 1.5% cash back – after 12 consecutive months of paying on time. In other words, the Petal Card promotes responsible habits by providing a lot of rewards value as an incentive.

For context, the average cash rewards card gives 1% back on all purchases. That’s market-wide, too, not just among credit cards for people with no credit. In fact, most credit cards for no credit can’t compete with Petal when it comes to rewards.

• Credit Limits: $500 - $10,000

Most starter credit cards have $300 minimum credit limits, but $500 is not unheard of. Credit newcomers are unlikely to qualify for a limit anywhere near the $10,000 maximum, however.

Still, the fact that the Petal Card’s limits do skew higher than normal for a no-credit credit card could benefit your credit score. Assuming your spending stays the same, a higher limit would result in lower credit utilization.

• Initial Bonus: None

Student credit cards tend to be the only credit cards for people with limited credit that offer initial rewards bonuses.

• APR: 12.99% - 23.99% (V)

Each applicant who is approved for an account receives a rate from that range, based on their overall creditworthiness. In particular, creditors consider an applicant’s credit score, income and existing financial obligations. For context, the average credit card offer charges about 19.5%.

• Foreign Fee: 0%

Internationally-processed purchases won’t cost you extra with the Petal Card. That could save you money not only if you travel abroad, but also if you make purchases through internationally-based merchants while in the U.S.

• Credit-Bureau Reporting: 3 bureaus, monthly

Monthly credit reporting gives cardholders the opportunity to build good credit history by paying bills on time and keeping balances well below the credit limit.

• Card Issuer: WebBank

WebBank is a relatively small credit card issuer based in Salt Lake City, Utah. In addition to the Petal Card, WebBank issues the Fingerhut Credit Account and other co-branded credit card accounts.

• Card Network: Visa

Visa is one of the four major card networks, along with Mastercard, American Express and Discover. The fact that it’s a Visa card means you can use the Petal Card anywhere that accepts plastic.

• Reviews: 4.0 from 60+ WalletHub user ratings

The Petal Card has not been around for long, having launched in October 2018. And this newcomer credit card is pretty darn good for credit card newcomers. To make sure it’s the right fit for you, click the “Apply Now” button on this page and check for Petal Card pre-approval. It won’t affect your credit at all, and you’ll be able to get a sense of how likely you are to be approved if you do apply for real.