Accepted Credit Scores
Excellent Credit, Good Credit, Fair Credit, Limited History
Accepted Credit Scores
Excellent Credit, Good Credit, Fair Credit, Limited History
“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.
Student credit cards tend to be the only credit cards for people with limited credit that offer initial rewards bonuses.
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 17.87%.
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 2 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.
Internationally-processed purchases won’t cost you extra with the Petal 2 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.
The Petal 2 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 2 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.
WebBank is a relatively small credit card issuer based in Salt Lake City, Utah. In addition to the Petal 2 Card, WebBank issues the Petal® 1 Visa® Credit Card, the Fingerhut Credit Account and other co-branded credit card accounts.
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 2 Card anywhere that accepts plastic.
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.
The Petal 2 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 2 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.
By the way, if you apply for the Petal 2 Card and do not get approved, you will automatically be considered for the new Petal 1 Card, which offers less in rewards but is easier to get.
Purchase Intro APR
|
Transfer Intro APR
|
Regular APR
|
---|---|---|
Not Offered | Balance Transfers Not Allowed | 12.99% - 26.99% (V) |
Purchase Intro APR
|
Not Offered |
---|---|
Transfer Intro APR
|
Balance Transfers Not Allowed |
Regular APR
|
12.99% - 26.99% (V) |
ANNUAL FEE
|
$0 |
---|
MAX LATE FEE
|
None |
---|---|
MAX OVERLIMIT FEE |
None |
MAX PENALTY APR
|
None |
GRACE PERIOD
|
21 days |
ONLINE RESPONSE
|
Yes |
CASH ADVANCE APR |
N/A |
CASH ADVANCE FEE |
N/A |
FOREIGN TRANSACTION FEE |
0% |
SMART CHIP
|
Yes, unknown |
Petal® 2 Visa® Credit Card is an Editor's Pick for:
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To help people learn more about the Petal 2 Visa Credit Card, WalletHub posed the following questions to a panel of experts. You can see who they are and what advice they had to share below.
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We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. When you click "Apply Now" you will be directed to the offering institution's website. In addition, keep in mind that actual rates and other information may vary for a number of reasons including the applicant's' creditworthiness and differences between an individual's situation and the criteria/assumptions used to generate the information displayed. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.
Ad Disclosure: Offers originating from paying advertisers are noted as “Sponsored” at the top of this page. Advertising may impact how and where offers appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Irrespective of whether an offering institution is a paid advertiser, the presence of offer information on WalletHub does not constitute a referral or endorsement of the institution by us or vice versa. Furthermore, offers have not been reviewed or approved by the offering institution. Information is displayed first and foremost to help consumers make better decisions.
Editorial Disclaimer: Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by the issuer. In addition, it is not the issuer’s responsibility to ensure all posts and/or questions are answered.
Last updated on: Apr 19th, 2021 at 11:31 ET
Petal® 2 Visa® Credit Card is an Editor's Pick for:
WalletHub is an independent comparison service.
We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. When you click "Apply Now" you will be directed to the offering institution's website. In addition, keep in mind that actual rates and other information may vary for a number of reasons including the applicant's' creditworthiness and differences between an individual's situation and the criteria/assumptions used to generate the information displayed. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.
Ad Disclosure: Offers originating from paying advertisers are noted as “Sponsored” at the top of this page. Advertising may impact how and where offers appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Irrespective of whether an offering institution is a paid advertiser, the presence of offer information on WalletHub does not constitute a referral or endorsement of the institution by us or vice versa. Furthermore, offers have not been reviewed or approved by the offering institution. Information is displayed first and foremost to help consumers make better decisions.
Editorial Disclaimer: Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by the issuer. In addition, it is not the issuer’s responsibility to ensure all posts and/or questions are answered.
Offer last updated: Apr 19th, 2021 at 11:31 ET