Most folks with no credit, bad credit or fair credit can only get credit cards with fees, low limits or secured credit cards which require a security deposit. The Petal Visa Credit Card intends to change all that with a no annual fee (in fact no fees at all) and a decent credit limit. How are they able to do this? Find out more in our review.


What is the Petal Visa Card
Petal is a Fintech Startup located in NYC and in 2018, they launched their credit card called Petal with Web Bank. This credit card is meant to target folks who have no credit, very little credit history, or used to have bad credit but are recovering and those with fair credit but do not have a "thick enough file" to get a good credit card.For folks whose credit profile fall under this category, they are usually confined to having to applying for secured credit cards or credit cards for bad credit, both of which are not really ideal. Secured credit cards require a security deposit, while subprime credit cards can come with high fees and low limits. Many folks who have bad credit are already cash strapped and these cards can make their situation worse.
What Petal is offering these folks is potentially a credit card that has no annual fees and for that matter, no other fees (we'll get to that in a bit) and a decent credit line. You might be asking how is Petal able to offer such good terms when other issuers won't? We'll get to that later. But first, here are the details of the card.


Petal Card Details
Annual Fee: $0
Foreign Transaction Fee: None
Cash Advance Fee: None
Late Fee: None
Over The Limit Fee: None
APR: 14.49% to 25.49%
Credit Limit: $500 to $10,000.


How Are They Able to Offer Such A Card?


Petal Peer Comparison
The better subprime cards have annual fees ranging from $0 to $99. There are many others that also charge a one-time application fee and a monthly maintenance fee on top of an annual fee.
Petal also beats all of these cards in terms of credit limit. Most cards start you off at $300 to $500 max. And even if you get credit line increases, at best your credit limit will approach over $1000 after a few increases. Petal gives you a limit anywhere from $500 to $10,000 (a much better initial credit limit than most other cards).


Our Take: Is The Petal Card Good?
But Petal intends to change that with this card. And I think they have succeeded. I would recommend this card for those of you with either no credit or less than perfect credit.