Until recently banks owned their customer's banking history. If you switched banks your history wouldn't come with you. Not anymore. Thanks to modern technology and new regulations¹, your banking history belongs to you. This has created new possibilities for how people manage their money. And even apply for credit.
Traditional banks often overlook millions of data points that could help you get approved. At Petal, we analyze your banking history and transform it into a Cash Score — an alternative measure of your creditworthiness based on income, savings, and spending history. This allows more people to be approved with better rates, even if they've never had credit before.
After approval, we give you all the tools you need to build positive credit history and track your score. Your Petal card activity will be reported to all three major credit bureaus. Plus you can set a budget and freeze your card at any time.
I’ve never had a credit card, car loan or mortgage.
I’ve never had a credit score.
I’m a student, a person new to the U.S., or an authorized user on someone else’s credit card.
I maintain a healthy balance in my checking/saving accounts.
I haven't defaulted on a loan in the past 2 years.
I have a limited credit history, 3 years or less.
I’m a gig/part-time worker without a predictable income.
I maintain a healthy balance in my checking/saving accounts.
I haven't declared bankruptcy or defaulted on a loan in the last 4 years.
I haven't been more than 30 days late on any credit card, medical bill, or loan in the
last year.
I have had a loan or credit card for 3 years or more with a credit limit above $3000.
I’ve never had a credit card, car loan or mortgage.
I’ve never had a credit score.
I’m a student, a person new to the U.S., or an authorized user on someone else’s credit card.
I maintain a healthy balance in my checking/saving accounts.
I haven't defaulted on a loan in the past 2 years.
I have a limited credit history, 3 years or less.
I’m a gig/part-time worker without a predictable income.
I maintain a healthy balance in my checking/saving accounts.
I haven't declared bankruptcy or defaulted on a loan in the last 4 years.
I haven't been more than 30 days late on any credit card, medical bill, or loan in the
last year.
I have had a loan or credit card for 3 years or more with a credit limit above $3000.
Information provided is for reference and guidance and fitting this criteria does not guarantee approval.