Are Petal Cards Legit?

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
Petal is a fintech company behind the following credit cards, issued by WebBank:
The Petal 1 Rise.
Petal cards are legitimate payment methods and credit-building options that report payments to all three major credit bureaus.
The Petal® 1 "No Annual Fee" Visa® Credit Card, as you would assume, carries no annual fee, but you can incur other fees with it. The card earns rewards on purchases made with select merchants. It's among NerdWallet's best credit cards for fair credit.
The Petal 1 Rise has some of those same features, but it has an annual fee of $59, among other differences.
The Petal® 2 "Cash Back, No Fees" Visa® Credit Card, unlike either of the Petal 1 cards, doesn't charge fees of any kind, and it earns up to 1.5% cash back on all eligible purchases with qualifying on-time payments, as well as elevated rewards at select merchants. The ongoing APR is 17.99%-31.99% Variable APR.
You're considered for all three Petal cards when you apply, but the card that you qualify for will depend on your creditworthiness and cash flow.
Get to know more about Petal and its credit cards with the answers to these frequently asked questions.
» LEARN: Which Petal card is right for you?
What is Petal?
Petal is a financial technology company based in New York and Virginia. In partnership with WebBank — an FDIC-insured, state-chartered industrial bank based in Utah — the company offers the Petal® 1 "No Annual Fee" Visa® Credit Card and the Petal® 2 "Cash Back, No Fees" Visa® Credit Card. WebBank is the issuer of both Petal cards.
Are the Petal cards actual credit cards?
Yes, the Petal cards are actual credit cards.
When did the cards come out?
Though it seems counterintuitive, the first card that was launched was actually the Petal® 2 "Cash Back, No Fees" Visa® Credit Card, in October 2018. However, at the time it was called the Petal Visa. It was rebranded when the company launched its second card, the Petal® 1 "No Annual Fee" Visa® Credit Card, in October 2020.
The Petal 1 Rise became available in 2023.
How do the Petal cards differ?
The Petal cards have different target audiences, rewards structures, fees, credit limits and interest rates. But here are the standout differences:
The Petal 1 Rise and the Petal® 1 "No Annual Fee" Visa® Credit Card: Earn up to 10% cash back when you shop with certain merchants. You can be charged fees.
The Petal® 2 "Cash Back, No Fees" Visa® Credit Card: Earn up to 10% back when you shop with certain merchants and up to 1.5% back on all other qualifying purchases, depending on your on-time payments. You won't be charged any fees.
Petal 1 Rise | Petal® 1 "No Annual Fee" Visa® Credit Card | Petal® 2 "Cash Back, No Fees" Visa® Credit Card | |
---|---|---|---|
Security deposit | None. | None. | None. |
Fees |
|
| None. |
Sign-up bonus | None. | None. | None. |
Rewards | Up to 10% cash back when you use the card to make purchases with select merchants. | Up to 10% cash back when you use the card to make purchases with select merchants. |
|
APR | The ongoing APR is 27.99%–35.24% Variable APR (rate accurate as of May 2023). | The ongoing APR is 24.99%-34.49% Variable APR. | The ongoing APR is 17.99%-31.99% Variable APR. |
Credit limit | Up to $3,500, depending on creditworthiness. | Up to $5,000, depending on creditworthiness. | Up to $10,000, depending on creditworthiness. |
What makes the Petal cards different from traditional credit cards?
Petal has an algorithm that analyzes banking history to evaluate income, savings and spending to determine eligibility. As a result, Petal cards don't require a credit history, a security deposit or other requirements that beginners to credit encounter with traditional credit cards. Other requirements for eligibility include being at least 18 years old, U.S. legal residence status, a Social Security number or Individual Taxpayer Identification Number and the ability to make payments from a U.S. bank account.
The Petal® 2 "Cash Back, No Fees" Visa® Credit Card stands apart from traditional cards even further as it doesn't charge any fees.
See how it compares with NerdWallet's best credit card offers, both traditional and alternative.
Are the Petal cards good credit cards?
The Petal® 1 "No Annual Fee" Visa® Credit Card and the Petal® 2 "Cash Back, No Fees" Visa® Credit Card can be good options for those with less-than-ideal credit and those who are beginners to credit. They offer decent rewards rates compared with cards in their class. And the Petal® 2 "Cash Back, No Fees" Visa® Credit Card even made NerdWallet’s list of best starter cards.
The Petal 1 Rise is less desirable because of its annual fee, which is higher than some other credit cards for no credit, bad credit or fair credit.
What credit score is needed to qualify for the Petal credit cards?
The credit score requirement for the Petal cards varies depending on the version. You can find out whether you qualify for any of the Petal cards with no impact to your credit score when you apply through the pre-qualification process.
The Petal cards are issued by WebBank, Member FDIC.
Find the right credit card for you.
Whether you want to pay less interest or earn more rewards, the right card's out there. Just answer a few questions and we'll narrow the search for you.
