A Credit Card That Requires No Credit Score? Yes, it Exists!


Whether you’re looking to recuperate from poor financial decisions—everyone’s been there before, don’t worry—or just needing to build credit for the first time, the Petal Visa Credit Card may just be what you are looking for. Petal requires no credit history nor does it ask for a security deposit during application. Sounds too good to be true, doesn’t it?

Petal’s Unique Application Process

Typically when applying for a credit card, a company will investigate a person’s credit history. Have they been delinquent on payments? Have they made any recent major purchases that could potentially eat up any expendable income? Are they currently in debt? These are all questions and inquiries that the traditional credit card company will look into.

However, Petal takes a different approach. They request that applicants connect their banks’ accounts as part of the application process. Rather than look at a person’s past, they focus on the current landscape of an applicant’s spending and transactions.

Petal’s algorithm also takes into consideration a person’s monthly bills and what they spend their money on with each transaction. It’s very similar to an audit but a lot more pleasant—if that’s actually a possibility. But believe it or not, it gets better.

No Late Fee And Updated Rewards

Everyone loves paying fees… Said nobody ever! And Petal understands this. The Petal card is one of only a few credit cards that have no fees whatsoever. Now keep in mind this doesn’t mean that a missed card won’t incur an interest rate. Interest rates are how most credit card companies earn a profit. You just won’t be charged an additional fee for not paying off your balance on time.

Previously, the Petal Credit Card did not offer any rewards. However, as of May 14th, this is no longer true. Once your application has been accepted and you receive your credit card, every purchase nets you 1% cash back on everything.

Once you hit the 6-month mark while maintaining on-time monthly payments, your reward percentage jumps up to 1.25%. Finally, after 12 months of consistent on-time monthly payments, your rewards compensation will cap at 1.5% cash back.

The Potential of the Petal Credit Card

The future looks bright for Petal, as well as for those who either want to be issued their first credit card or who want a fresh start with their credit. With a credit limit between $500 and $5,000, Petal can appease any financial demographic.

Petal also just launched apps for iOS and Android that includes a budgeting platform as well as a feature that lets you see how much you’ll owe in interest if your balance isn’t paid in full. It’s not uncommon for someone to have a heated conversation with a credit card company due to unexpected or unexplained charges.

With the Petal app, you can know just what to expect in order to stay ahead and take control of your finances more easily.