The Petal Card, a credit card designed for people with low credit scores, is available. Unlike other credit cards, Petal cards require you to have a clean credit report and no history of bankruptcy. If you have bad credit, you may want to consider a secured credit card instead. It is important that you understand the differences between both types of credit cards before deciding which one is right.
Petal(r), 2 Visa (r) Credit Card
Petal 2 Visa Credit Card is free for all consumers. It is great for those just starting to build credit. The policy's no-fee, no-deposit nature makes it ideal for people with poor credit. It offers a moderate credit limit and cashback rewards up to 1.5%.
While the Petal 2 Visa Credit Card may be easier to get approved than some secured cards, you should still consider your own credit history. It is not a good idea to get one if you have deeply damaged credit or have a history of missed payments. Creditors will consider your income, savings, and credit history when deciding whether or not you should be approved.
The card's low annual fees, no foreign transaction fees and zero penalty APR for late payments are just a few of the many benefits. Late fees can be avoided by making timely payments. This is vital as late payments can harm your credit history and cause lower credit score points.
Petal 2 Visa(r), a Credit Card, offers many benefits such as no security deposit and a 500 credit limit. You also get cash back rewards, comparable to better credit card offers.
Petal(r), 1 Visa (r) Credit Card
If you want to build your credit, then the Petal(r.1) Visa (r) is a great card to consider. This credit card is linked into your bank account so you don’t have to worry too much about the annual fees. You can also manage your account with the handy app included with this card.
Petal 1 Visa Credit Card offers decent rewards and an annual fee. However, it does not have many benefits. The rewards can be used to cover travel expenses, extended warranty coverage, or price protection. If you have poor credit and are looking for a card that will not make you feel burdened, the Indigo Platinum MasterCard is an option. This card has higher rewards and doesn’t require a deposit.
Petal 2 Visa is another option for a first creditcard. This card is especially suitable for young adults and recent college grads without a lot of credit history. The credit limit is $500, which is more than most starter credit cards or secured cards. You can also earn up to 1 % cash back on all your everyday purchases. Selected retailers will also reward you with rewards of up to 10%.
The Petal 1 Visa(r) Credit Card offers no annual fee and 2% to 10% cash back at select merchants. You will also not receive an introductory APR, or a welcome bonus. This is still better than other options.