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Petal® 1 “No Annual Fee” Visa® Credit Card – Review


At a glance

Petal 1 Credit Card

Our rating


Petal® 1 "No Annual Fee" Visa® Credit Card

  • Sign-Up Bonus: None
  • Rewards: Earn between 2% and 10% cash back with select Petal partner merchants; Terms and conditions apply
  • Intro APR: No introductory APR offer
  • Regular APR: 19.99% to 29.49% variable
  • Fees: $0 foreign transaction fee, Late and returned payment fees may apply
  • Annual Fee: $0
  • Credit Needed: Average, rebuilding, new-to-credit
  • Credit Limit: $500 to $5,000 credit limits

Dig Deeper

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The Petal® 1 “No Annual Fee” Visa® Credit Card is an unsecured Visa credit card designed to help new-to-credit consumers build credit. It’s also appropriate for applicants in the midst of rebuilding credit.

Petal 1’s nonexistent annual fee is just the beginning. As one of the best secured credit card alternatives on the market, Petal 1 has a seamless application process and a host of additional features, perks, and capabilities worth mentioning.

If you’re looking for a new entry-level credit card that doesn’t require a security deposit and won’t penalize you for a complicated credit history[1], you owe it to yourself to take a closer look.

Key Features

These are the most important features of the Petal 1 card, a rewards credit card from one of the most innovative credit card issuers around.

Earning Rewards

Earn between 2% and 10% cash back on eligible purchases from select merchants. Once earned, cash back doesn’t expire as long as your account remains open and in good standing.

Redeeming Rewards

Redeem in any amount for a statement credit or for a paper check once your cash-back rewards balance hits $20 (the minimum check amount is $20).

Credit Limit (Credit Line)

Depending on your income, creditworthiness (possibly based on your FICO credit scores from the three major credit bureaus), and other factors, your initial credit limit could be as low as $500 or as high as $5,000.

If you’re still building credit and have a complicated credit history, you can still apply for Petal 1. And, thanks to Petal Leap, you can earn a credit limit increase in as little as six months (terms and conditions apply).

Important Fees

Petal 1 does not charge an annual fee or fee for international transactions (foreign transaction fees).

Possible fees include late fees up to $29 for the first late payment and $40 for any subsequent late payments, and a returned payment fee of $29.

Regular APR

The regular APR for purchases is 19.99% to 29.49%. This variable APR depends on your creditworthiness, prevailing interest rates, and other factors.

Credit Bureau Reporting

Petal reports Petal 1 account information, including payment history, to all three major consumer credit reporting bureaus.

This means responsible use of the card, such as on-time payments and monthly payments in full, will be added to your credit report and show up in your credit history. Over time, they may help to boost your credit score.

Additional Capabilities and Benefits

Additional Petal 1 capabilities and benefits include:

  • A mobile app that makes it easy to manage your funds, track spending, and automate payments on the go
  • Cash flow technology (cash score) that can help earn approval for new-to-credit applicants with bank accounts and adequate banking history
  • Get preapproval within minutes without impacting your credit score

Credit Required

The Petal 1 card is designed for cardholders with average credit (fair credit) as well as new-to-credit consumers with no credit histories and those in the process of rebuilding credit. It’s a suitable student credit card too.


These are the Petal 1 card’s top advantages for cardholders.

  1. No Annual Fee. Petal 1 doesn’t charge an annual fee. That’s good news for frugal cardholders and a welcome contrast with some entry-level cards.
  2. No Security Deposit Required. Petal 1 doesn’t require a security deposit as a condition of account opening. This is a key distinction from secured cards, which appeal to the same audience as this one.
  3. Open to New-to-Credit Applicants. Thanks to an innovative underwriting process that considers cash flow and other noncredit factors, Petal 1 is appropriate for applicants without credit histories or with limited credit history.
  4. Ideal for Consumers Rebuilding Credit. Petal 1 may also be appropriate for consumers in the midst of rebuilding credit.
  5. Cash Back on Some Transactions. The Petal 1 card earns between 2% and 10% cash back on purchases with select merchants, a strong rewards rate for this type of unsecured credit card.
  6. No International Transaction Fee. Petal 1 doesn’t charge a fee for international transactions, so frequent international travelers can use it without fear of surcharges.
  7. Potential for Relatively High Credit Limits. Petal 1 offers credit limits between $500 and $5,000. That’s on the high side for an entry-level credit card.
  8. Regular Credit Bureau Reporting. Petal regularly reports account information to the three major consumer credit reporting bureaus. With timely repayments and responsible credit utilization, your Petal 1 card could help increase your credit score over time.


Consider these drawbacks before applying for a Petal 1 card.

  1. Potential for High Regular APR. Petal 1’s maximum APR is on the high side. That’s a drawback for cardholders who plan to carry balances from month to month.
  2. No Cash Back on Most Transactions. Despite its attractive cash-back rate on certain partner purchases, Petal 1 doesn’t earn cash back on most transactions. That’s a problem for consumers looking for an everyday credit card that earns rewards.
  3. Credit Limits Capped at $5,000. Petal 1’s maximum credit limit could be problematic for higher-income cardholders.

Final Word

The Petal® 1 “No Annual Fee” Visa® Credit Card is a rarity in the world of entry-level credit cards: a no-annual-fee product that doesn’t require a security deposit and earns cash-back rewards on some transactions.

Although it does have some drawbacks, including the potential for a high APR, it’s a great option for millions of would-be cardholders in the process of rebuilding their credit — and millions more who’ve never had a credit card at all.


The Verdict

Petal 1 Credit Card

Our rating


Petal® 1 "No Annual Fee" Visa® Credit Card

The Petal® 1 “No Annual Fee” Visa® Credit Card is an excellent choice for consumers with average credit, those who’ve never had a credit card before, and those in the midst of rebuilding credit. Its low fees, no security deposit requirement, and cash-back earning opportunities distinguish it from other entry-level credit cards. But more generous options exist for applicants with good credit.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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