Is the Petal credit card worth it? October 2018 |

Petal credit card review- October 2018

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Petal promises no fees whatsoever, no matter your credit score. That is, if you don’t mind sharing your bank account info.

  • Get this card if… you despise credit card fees or have a minimal credit history.
  • Pick something else if…you want rewards for your spending.
  • All credit scores and histories welcome.
Product NamePetal credit card
Card TypeVisa
APR (Annual Percentage Rate) for Purchases14.74 – 25.74% variable
Interest Free PeriodUp to 22 days
Rates & FeesRates & Fees
Minimum Age18 years of age

The basics

Many credit cards tout simplicity as a key selling point. Petal credit card is one of them, but it stands out in two important respects: It charges no fees, and it requires no minimum credit score.

Is “no fees” for real?

Yes, Petal credit card really means it: You won’t pay annual fees, foreign transaction fees, overlimit fees or even late fees when you use this card.

That’s excellent, especially given all the other cards that pile on fees any chance they get. If you’re tired of getting hit with random charges, Petal credit card could be the breath of fresh air you’ve been looking for.

When is Petal credit card available — and who’s eligible?

Petal credit card is available to consumers now, but it’s currently invite-only. To get access to the card, sign up for the wait list on Petal credit card’s site.

Anyone can apply for the card, regardless of credit score. That’s unusual for an unsecured credit card that doesn’t charge exorbitant fees.

If you don’t have a credit score but you feel you’re a responsible borrower, consider Petal credit card over a secured card. With a secured card, you have to put down a security deposit. Not so with Petal credit card.

Is there a catch?

There isn’t a “catch,” exactly. But because Petal credit card doesn’t collect fees, it tries to serve only customers who can responsibly pay their card bills.

If there’s a reason to take caution, it’s this: You’re required to share your bank account information — including your login credentials — with your application. Petal credit card then uses this information to analyze your digital finances and assess your income and spending.

The company doesn’t appear to pad its bottom line through sneaky tactics. For example, it doesn’t spike your APR for late or missed payments. According to Petal credit card’s CEO, the company makes money from merchant transaction fees and from consumer interest payments.

You give up your financial privacy to Petal. But in an age of expensive credit, that might be a small price to pay to escape fees for good.

Get the right secured card with just one click

Start your journey to better credit with our card recommendation based on your financial needs.

The perks

  • No fees.
    Petal credit card promises no annual, foreign transaction, overlimit or even late fees.
  • No credit score required.

    If you don’t have a credit score, you can still apply for the Petal credit card. Petal credit card will analyze your income and your financial records — such as checking accounts or bill payments — to determine your eligibility.

  • No security deposit required.

    Without a credit score, it can be difficult to get an unsecured credit card. You’re typically limited to secured cards, which require security deposits. Petal credit card, on the other hand, doesn’t require a deposit.

Secured cards vs. unsecured cards: What’s the difference?

You’ll also like…

  • Money-management tools.
    Petal credit card offers features like automated payments and reminders to help you can pay your bill on time.

What to watch out for

Consider other cards if…

What should I know before I apply?

To apply for the Petal credit card, you must be at least 18 years old. You must also be a US resident with a valid Social Security number or Individual Taxpayer Identification Number (ITIN).

Information you’ll need

  • Full name and contact information
  • Residential status
  • Annual income, source of income and employment information
  • Social Security number and date of birth

What credit score do I need?

There’s no minimum credit score to apply for the Petal credit card. However, you’ll have a better chance of approval if you can prove sufficient income and a responsible history of paying your bills.

How to apply for Petal credit card

Right now, you can’t apply directly for the Petal credit card — you must be invited. For early access to the card, join the wait list on Petal credit card’s website.

I got the card. Now what?

  • Make timely payments. Pay your card bill online or enroll in autopay. Petal credit card lets you set reminders to pay your card bill.
  • Avoid interest. After the close of each billing cycle, you have a grace period of 22 days to pay your balance. If you do, you won’t pay interest on your purchases. Petal credit card has a “true” grace period — you’ll get a window of no interest each month on new purchases.

Bottom line

The Petal credit card doesn’t offer rewards for spending, but you won’t pay any fees for the life of the card. It’s a good choice if you don’t have a credit score yet but think you’ve been a responsible borrower.

Still not convinced this is the right card for you? Visit our comprehensive guide to credit cards to compare your options.

Frequently asked questions

Kevin Joey Chen

Kevin Chen is a world-travelin', copy-writin', Game of Thrones-watchin' credit cards writer for When he's not crunching the numbers on bonus points and comparing APRs, you can find him flying around the world in search of the perfect beer.

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3 Responses

  1. Default Gravatar
    SpookyOctober 6, 2018

    Watch out I applied and they hard pulled all 3 credit bureaus

  2. Default Gravatar
    BrandonOctober 14, 2017

    Does the petal card report to all three major credit bureaus?

    • Default Gravatar
      GruOctober 15, 2017

      Hello Brandon,

      Thank you for reaching out to us.

      Yes, the Petal Card still reports to all three major credit bureaus.

      Although, even if you don’t have a credit score, you can still apply for the Petal card. Petal will analyze your income and your financial records — such as checking accounts or bill payments — to determine your eligibility.

      Hope this helped.


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