Petal is a financial technology company that aims to bring financial innovation and opportunity to everyone. They use modern technology to help people build credit, avoid debt, and spend responsibly. Instead of relying solely on credit scores, Petal uses millions of additional data points to help more people qualify for credit, even if they have never had it before.
Petal offers two credit cards: Petal 1 and Petal 2. Petal 1 is designed for those looking to improve their credit score, with no annual fee and a credit limit between $300-$5,000. Petal 2 is their most advanced card, offering cashback perks without any fees. Both cards come with 2%-10% cashback offers from top brands and local businesses.
With the Petal app, users can track their credit score, set budgets, manage subscriptions, and see all their accounts in one place. Petal reports to all three credit bureaus and previous credit history is not required to qualify.
Here are six advantages of Petal's software:
- Financial Innovation and Opportunity: Petal aims to bring financial innovation and opportunity to everyone by using modern technology to help people build credit, avoid debt, and spend responsibly.
- Qualify for Credit: Instead of relying solely on credit scores, Petal uses millions of additional data points to help more people qualify for credit, even if they have never had it before.
- Petal 1: Designed for those seeking to improve their credit score, Petal 1 has no annual fee and individuals can get approved for a credit limit ranging from $300 to $5,000.
- Petal 2: Petal 2 is the most advanced card offered by Petal and provides all the perks of a cashback card without any fees. It has no annual fee, late payment fee, foreign transaction fee, or any other kind of fee. Approval for a credit limit can range from $300 to $5,000.
- Cashback Offers: Both Petal 1 and Petal 2 cards come loaded with 2%-10% cashback offers from top brands and over 500 local businesses.
- App Features: With Petal's app, users can track their credit score, set a budget, manage subscriptions, and see all their accounts in one place, giving them better control over their money.
Additional Notes:
- Petal reports to all three credit bureaus.
- Petal 1 has late and bounced payment fees, while Petal 2 has no fees of any kind.
- Better technology results in lower variable APR rates.
