Learn how to apply for the Petal® 1 Visa® Credit Card
Rebuilding yourself may be challenging, but it is certainly attainable. Discover the process of applying for the Petal® 1 Visa® Credit Card to initiate your credit rebuilding journey.
Everything You Need to Know about the Petal® 1 Visa® Credit Card
The Petal® 1 Visa® Credit Card is an excellent option for individuals looking to establish credit or improve their credit score. This credit card, offered by Petal, does not have an annual fee and provides features that are beneficial for first-time credit card users.
- Earn rewards
- Report to all three major credit bureaus
Unlike many unsecured cards for individuals with bad credit, the Petal 1 Visa does not require a security deposit and does not have additional charges such as activation fees or monthly maintenance costs.
One unique aspect of the Petal 1 Visa is that it evaluates creditworthiness based on a “cash score” derived from banking and financial histories instead of traditional FICO ratings. This allows individuals with poor credit to have access to a credit card without a security deposit.
Eligibility Criteria for the Petal® 1 Visa® Credit Card
To qualify for the Petal credit card, you need to meet the following criteria:
- Have a current Social Security or Individual Taxpayer Identification Number
- Have an active U.S. phone number
- Have a working email address
- Be at least 18 years old (age varies for residents of Alabama and Nebraska)
- Reside in one of the 50 United States, Washington, D.C., or a U.S. military base permanently
In addition, you must link your bank accounts to allow Petal to assess your “cash score.”
There are certain disqualifications for applying for the Petal 1 Visa, including:
- Currently residing in a jail or prison
- Having previously applied for or currently holding a Petal card
- Having declared bankruptcy within the previous 48 months
If you do not meet the credit requirements, you may not be approved for the Petal 1 Visa based on the information provided.
How to Apply for the Petal® 1 Visa® Credit Card
Petal has streamlined the application process to make it easy and stress-free. The Petal® 1 “No Annual Fee” Visa® Credit Card is specifically designed for individuals with challenging credit situations or no credit history at all.
During the application process, you will be asked to provide basic information and create an online account on the Petal website. If you do not have a credit history, you can link your bank accounts when applying.
Petal uses your banking transactions’ payment information to assess your eligibility for the credit card. Additionally, you can check your likelihood of approval using Petal’s pre-approval tool without affecting your credit score.
Is the Petal® 1 Visa® Credit Card Worth It?
If you are looking to repair your credit without paying an annual fee, the Petal 1 Visa card can be a good option. However, if you are willing to pay an annual fee or provide a security deposit, there are cards available that offer more robust rewards and the potential to transition to an unsecured version, providing long-term benefits.
Comparison: Petal® 1 Visa® Credit Card vs. Wells Fargo Active Cash Card
Both the Petal 1 Visa Credit Card and the Wells Fargo Active Cash Card are excellent options, but for different reasons.
If you are focused on building or rebuilding your credit, the Petal 1 Visa Credit Card is the better choice.
Once you have established good or excellent credit, transitioning to the Wells Fargo Active Cash Card is a great move. This card offers reliable flat-rate incentives for purchases without any categories or restrictions to remember.
Petal® 1 Visa® Credit Card Benefits
- No annual fee
- Qualify with limited/bad credit
- No foreign transaction fees
- Reports to all three major credit bureaus
Wells Fargo Active Cash Card Benefits
- No annual fee
- Dependable flat-rate incentives for purchases
- Earn a $200 cash rewards incentive by spending $1,000 on purchases within the first three months
- No categories or restrictions to remember
How to Apply for the Wells Fargo Active Cash Card
If you have an excellent credit score, we recommend reading our article on how to apply for the Wells Fargo Active Cash Card.
