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About Petal

What is Petal?

The Petal Visa® is a credit card that’s honest, simple, and accessible, built to make your life a little easier. We use machine learning to analyze your digital financial record, rather than just your credit score, which allows Petal to have higher credit limits and lower rates than competing cards, and no fees whatsoever. That means you can get a great credit card and start building your credit score, even if Petal is your first credit card.

Petal won’t cost you a dime if you pay your full bill on-time each month. Petal has zero fees and only charges interest if you decide to pay your bills over time, instead of in-full. And before you make that decision, Petal tells you exactly what it will cost in interest. Unlike most credit cards, Petal only charges interest on balances that are past due, and does not charge interest on new purchases.

We created Petal to solve problems that we personally experienced. Despite working and paying bills responsibly, many of us had trouble qualifying for a decent credit card and establishing credit history. Others on our team have struggled with credit card debt and fees, and know how difficult traditional credit cards are to understand and manage. We believe that credit today is sideways, and we’re on a mission to fix it.

Traditional credit cards make money in three ways: customer fees, merchant fees and interest. Petal doesn’t charge customer fees, so we make money through merchant fees collected when you use the card and the interest we charge if you choose to carry a balance past your due date.

Because we collect and analyze more data, Petal is able to have higher credit limits than many other cards, typically ranging from $500 to $10,000. And the APRs are lower than most other new-to-credit options, too! Click to here read more about Petal and how it compares to to other cards.

If you’re not new to credit but you’re intimidated or frustrated by credit cards, Petal’s a great option for you—we make credit simple with easy to understand explanations and unique features, like our interest calculator, that helps educate customers on how to responsibly use a credit card and build credit. Petal also has no fees of any kind — no overdraft, late, or annual fees, which makes for a great 2nd, 3rd, or 4th credit card, too!

Today, Petal is only available to legal U.S. residents of the 50 states with a valid SSN or ITIN.

During Pre-Approval: The pre-approval step is the first part of the application during which you submit your information and connect your banks. We only perform a soft pull during the pre-approval process, which won't affect your credit score.

When Submitting Your Application: If you're pre-approved, you'll be invited to submit your full application for Petal. At this point, we’ll do a hard inquiry (or hard pull) which will show up on your credit report. This could affect your credit score, but in most cases, it has a small impact or no impact at all.

Petal is a great choice for people who are new-to-credit because Petal doesn’t require a credit history to apply. However, when making credit approval decisions, we look at an applicant's digital financial record—if a credit report is available, it may factor into our credit approval decision. Applicants who have a history of missed payments or bankruptcy, for example, may not qualify for Petal.

The first part of the application is the pre-approval process. During this step, we'll perform a soft pull (which won't affect your credit score) to see if you're likely to be approved based on the information you've entered. If you're pre-approved, you'll be invited to apply fully for Petal. If you're not pre-approved, you won't be able to apply for Petal right now.

Keep in mind that getting pre-approved doesn’t guarantee approval for Petal. The only way to know for sure if you will be approved is to submit your application after the pre-approval process.

Congrats! A pre-approval is good news—it means you’ve met the initial criteria for Petal, which is a great start.

There are some instances in which you are pre-approved for Petal, but fail to qualify after submitting your application. This may happen, for instance, if there have been major changes to your credit report over the past 30 days. The only way to see for sure if you qualify is by submitting your full application after you’ve been pre-approved.

If you’ve already applied and have been declined, you can’t reapply to get Petal right now. Don’t worry—we’re working on giving customers the chance to apply again in the future, so check back soon!

Connecting your checking, savings, and credit accounts shows us how you make, save and spend money and whether you are a good fit for Petal. The more accounts you connect, the better overview we have of your finances, which helps us make better credit approval decisions. We use sophisticated algorithms to do this analysis, and in most cases, we can give you a decision in just a few seconds.

While we keep the submitted application records on file in compliance with the law, we will not access your account again. We believe your data is your data, so Petal does not sell, rent, or trade your personal information to third parties without your consent (unless we are required to by law).

If you have any other questions or concerns, take a look at our privacy policy or send us an email to We’d be happy to answer any questions you may have!

We’ve got you covered—we created this article to give you some pointers on connecting your bank accounts to Petal. Check it out!

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