February 22, 2024

In case you are trying to construct your credit score, you need to typically settle for fewer bank card advantages and perks till you’ve established a wholesome credit score historical past. Within the meantime, chances are you’ll miss out on priceless perks, comparable to cash-back rewards. The Petal 2 Visa Credit score Card, issued by WebBank, hopes to vary that, providing money again on each buy and no annual charge, amongst different advantages.

The Petal 2’s perks are in any other case restricted and its rewards construction could be complicated for some. Even so, it could be the correct selection if you wish to earn some money again when you construct your credit score. Be taught extra in regards to the Petal 2’s rewards and different perks to search out out if it could be the correct card for you.

TIME’s Take

The Petal 2 Visa Credit score Card offers 1% to 1.5% money again on each buy—a perk that’s unusual amongst playing cards for credit score builders. It additionally earns 2% to 10% money again from choose retailers. Whereas it’s gentle on different advantages, it’s value a glance in case you are nonetheless working to enhance your credit score.

Petal 2 Visa: Execs and Cons


  • Earns money again on each buy.
  • No annual charges, late fee charges, overseas transaction charges, or returned fee charges.
  • No minimal safety deposit.


  • No welcome bonus or intro APR provide.
  • No steadiness transfers or money advances.
  • Difficult rewards construction.

Who’s the cardboard for?

The Petal 2 Visa is good for somebody with a restricted credit score historical past, as no credit score rating is required to use. Petal makes use of its proprietary Money Rating in its approval resolution—an alternate measure that considers your revenue, financial savings, and spending historical past. Nevertheless, your approval odds might approve in case your credit score rating is above the subprime vary (620 and above).

You additionally want to satisfy fundamental eligibility necessities, comparable to being 18 or older and having a sound Social Safety quantity or Particular person Taxpayer Identification Quantity (ITIN). It’s additionally a good selection if you happen to don’t need to put down a safety deposit, as is usually required for secured bank cards.

This card can be for you if you wish to keep away from paying plenty of charges. There are not any annual charges, overseas transaction charges, returned fee charges, or late fee charges. Its variable annual proportion fee (APR) will not be the bottom of the low, however it’s nonetheless higher than some we’ve seen for bank cards on this class.


Options the Petal 2 Visa provides embrace:

Stories to credit score bureaus

The Petal 2 Visa reviews your exercise to the three main credit score bureaus—Experian, TransUnion, and Equifax. This lets you set up a wholesome credit score profile with on-time funds and lift your credit score rating within the course of.

Cheaper than most

Bank cards for credit score builders typically include extreme program charges and enrollment charges. As talked about, the Petal 2 Visa does away with all charges, except for its buy APR. This implies you should utilize it with out paying any charges, offered that you just pay your steadiness in full. For credit score builders, you’d be hard-pressed to discover a cheaper choice than the Petal 2.

Beneficiant rewards

Those that need to earn rewards will like this card, because it earns money again on each buy. At first, you’ll earn a flat 1% money again. That fee will increase to 1.25% with six on-time month-to-month funds and 1.5% with 12 on-time funds. Along with flat-rate money again, you may also obtain customized provides for two% to 10% money again from choose retailers. Lastly, you may be capable of earn Bonus Money Again Factors, which accrue at the next fee than different cash-back factors on this card. Petal will notify you if and when these factors change into obtainable.

Excessive most credit score restrict

The Petal 2 Visa has credit score limits starting from $300 to $10,000. That’s precisely double the utmost for the Petal 1, and it’s among the many highest limits you might be more likely to see for credit-builder playing cards. In fact, this isn’t useful if you find yourself carrying a steadiness, however it’s good that you just may be capable of cowl bigger purchases with this card.

Observe that you just in all probability gained’t begin with a $10,000 credit score restrict instantly. Nevertheless, with the Leap program, you’ll be able to improve your credit score restrict by making six consecutive minimal month-to-month funds or 15% of your assertion steadiness, whichever is larger. To be eligible for a rise, you need to additionally forestall your VantageScore from dropping by 25 factors or extra.

The positive print

  • Annual charge: $0
  • Buy intro APR: N/A
  • Stability switch intro APR: N/A
  • Common APR: 18.24% to 32.24% (variable)
  • Money advance charge: N/A
  • Overseas transaction charge: $0
  • Late charges: $0
  • Returned fee charge: $0

Further Hidden Perks

The Petal 2 Visa’s fundamental advantages are its cash-back rewards and lack of added charges. The cardboard is gentle on different perks, however it does have just a few further advantages as a Visa card:

  • Cardholder inquiry service
  • Misplaced or stolen card reporting
  • Emergency card substitute and emergency money disbursement
  • Dovly Uplift
  • ID Navigator by NortonLifeLock
  • Zero legal responsibility
  • Roadside Dispatch®

Along with these advantages, cardholders can earn Uber credit by way of Visa Native Gives. All it’s important to do is pay together with your card within the Uber app, and you’ll earn credit while you store at eligible retailers.

What Might Be Improved

The Petal 2 Visa is a superb credit-builder card total, however there are nonetheless some issues about it that could possibly be improved. As an illustration, whereas it earns money again on each buy, you may also earn money again by way of periodic provides and bonus money again. This could be a lot to trace, particularly for somebody who’s new to bank card rewards.

As well as, the cardboard doesn’t have any intro provides, like low APR or a welcome bonus. Stability transfers and money advances are additionally not doable with this card. These are largely “good to have” options, however including them may make this card an much more engaging selection.

Card alternate options

The underside line 

When you have restricted credit score however are above the subprime vary, the Petal 2 Visa could possibly be an ideal card that can assist you construct your credit score. It earns 1% money again on each buy, which you’ll improve to 1.25% or 1.5% by making six or 12 on-time month-to-month funds. It additionally has no charges aside from its ongoing APR. Nevertheless, its rewards construction may be complicated for some, and the cardboard doesn’t have perks like a welcome bonus or intro APR. Total, it’s a powerful selection for many who need to earn money again and keep away from charges whereas constructing their credit score.

Steadily requested questions (FAQs)

Is the Petal 2 a secured or unsecured card?

The Petal 2 Visa is unsecured, and no safety deposit is required. This card could also be obtainable to these with truthful credit score as a result of Petal makes use of a metric referred to as Money Rating in its approval resolution. Along with your credit score rating, this measure considers your revenue, financial savings, and spending historical past.

What’s the distinction between Petal 1 and Petal 2?

These two playing cards have many similarities, comparable to no annual charges and the power to earn money again. Nevertheless, it could be simpler to qualify for the Petal 1 Card you probably have subprime credit score. Whereas qualifying for the Petal 2 Card could also be barely harder, it does away with charges like late charges and returned fee charges. As well as, the Petal 2 allows you to earn money again on each buy—a privilege you don’t get with the Petal 1.

What’s the credit score restrict for the Petal 2?

The Petal 2 has credit score limits starting from $300 to $10,000. That is double the restrict for the Petal 1, which ranges from $300 to $5,000.

Are you able to improve your Petal 2 card’s credit score restrict?

You might be able to improve your credit score restrict by making six consecutive on-time month-to-month funds or 15% of your assertion steadiness, whichever is larger. You should additionally keep away from a drop in your VantageScore of 25 factors or extra.