Petal is one of the most well-known and reputable banks that offer opportunities for a lot of credit card newbies. They offer a wide range of financial products that can help you build your credit. Its products include the Petal 1 Rise, Petal 1 Family, and Petal 2 credit cards.
Cardholders can expect different things from all three kinds of Petal credit cards but which one is the right credit card for you? While some of these cards have similar features and benefits, they meet different needs depending on your financial goals.
It is important that you make the right choice when it comes to picking the best Petal credit card. Discover what card is the best option to apply for your own needs and see which Petal credit card fits into your lifestyle.
Also read: Petal 1 Rise: Discover the Benefits, Interest Rates, How to Apply, and More
Also read: Petal 1 Family: Discover the Benefits, Learn How to Apply, and More
Also read: Learn How to Apply for the Petal 2 Cash Back, No Fees Visa Credit Card
Check Out the Petal 1 Credit Card
The Petal 1 credit card makes it easier for you to apply for a credit card, especially if you want to build your credit score or you want to improve it.
Petal simply requires you to provide your banking history that shows your proof of income and on-time bill payments for you to be pre-approved in applying for the card.
The Petal 1 Family Visa credit card does not require you to pay an annual membership fee and you even get cashback rewards of up to 10% at selected establishments all over the US.
The credit card is designed to help you establish your credit score so make good use of it by using the card in your transactions and pay on time.
Interest Fee and Charges
The Petal 1 credit card is a great beginner credit card for those who want to start building their credit score as it offers one of the lowest interest rates within this category.
Upon approval, you'll have an interest rate of around 24.74% to 34.24% variable APR with a credit limit of up to $5,000.
You don't have to pay an annual fee for the card or a foreign transaction fee so you can focus all of your budget on paying for your monthly debt and making sure you get to pay on time.
Discover an Alternative With Petal 1 Rise Credit Card
The Petal 1 Rise credit card is designed for those who want to improve their credit score. If you want to prove that you have what it takes to get your credit rating back up again, this is the right card for you.
You can start by paying a $59 annual membership fee as soon as you get approved for the card with an interest rate of 27.99% to 35.24%.
To be approved, you will need a lot of documentation, so be sure to prepare your proof of income, banking history, proof of residency, and more.
You can enjoy different rewards such as cashback of up to 10% at local and national merchants and a credit limit of up to $3,500. You can also take advantage of a program that will help increase your credit limit so you can continue to build and repair your credit score.
How to Apply for the Petal 1 Rise Credit Card
Applying for the Petal 1 Rise credit card is a very simple process. You can check if you are pre-approved for the card through the official Petal website.
Prepare your bank statements to provide your banking history as well as your income tax return and other proof of income documents. When you're ready, you can apply on the website, fill out the application form, and submit your application.
Wait to be notified by them to see if you have been approved for the card and it will be sent to you with further instructions on how to activate it through the website.
Comparing the Benefits and Rewards
When it comes to both Petal 1 credit cards, there is not much difference to both of them aside from their uses. The Petal 1 credit card is a great beginner's card where you can build your credit score while also teaching you to become a responsible credit cardholder.
Meanwhile, the Petal 1 Rise credit card is a credit card that allows you to repair your credit score. Other major differences are the interest rates and the credit limit.
The Petal 1 credit card offers a higher credit limit to help you build your score while the Petal 1 Rise credit card offers a lower credit limit at first with a chance to increase the limit as soon as you start improving your credit score. Both cards offer 10% cashback rewards that can be redeemed through the website or the Petal app.
Learn More About the Petal 2 Credit Card
The Petal 2 credit card is a fairly new credit card from the provider. It is a solid option for those who want to build their credit score and while the card does not have a welcome bonus, you can still earn cashback rewards of up to 10% at selected merchants on your everyday purchase.
As a Visa card, the Petal 2 credit card has all the benefits from Visa which means you'll get the auto rental collision damage waiver, roadside dispatch, and theft coverage benefits.
You can also use the card to enroll in Visa Local Offers where you can find more benefits from participating local establishments like restaurants and other stores.
You even get extra Uber credits with this card, helping you save more money on transport. You can apply for this card at the official Petal website.
Comparing Petal 2 With Other Petal Credit Cards
When comparing it to both Petal 1 and Petal 1 Rise credit cards, the Petal 2 credit card is surely the winner. You don't have to pay any fees including annual fees, foreign transaction fees, late fees, or even a returned payment fee.
It is very rare for a credit card to offer such benefits and flexibility to its cardholders. What's more, is that the Petal 2 credit card also has a lower variable APR of 17.74% to 31.74% than the other Petal credit cards.
The best part is that you get a very high $10,000 credit limit for the Petal 2 credit card.
Factors to Consider When Choosing the Best Option
There are a lot of factors to consider before choosing which Petal credit card is the best option for you. You must first understand and know your personal financial goals first.
If you are just starting and you want to build your credit score, you can choose the Petal 1 credit card. Those who want to rebuild their credit score can choose either the Petal 1 Rise credit card or the Petal 2 credit card which offers more benefits and perks.
Your spending habits should also be taken into consideration as this will largely affect your budget when paying for your monthly statement.
Make sure that you only use the card for things that you need as this will help you keep tabs on your current balance and avoid incurring a very high monthly bill.
Evaluate the Benefits Before You Choose
Petal credit cards have different benefits and rewards. If you do not want to pay a lot of fees and want to enjoy cashback rewards, you can always choose the Petal 2 credit card.
If you need to prove to the provider that you want to rebuild your credit score, the Petal 1 Rise credit card is a good fit. Cashback rewards are a great way to encourage you to use the card but you also need to be careful with the interest rate.
Weigh the benefits before you make your choice.
Applying for the Preferred Petal Credit Card
Once you have chosen your preferred Petal credit card, applying is easy. All you need to do is head over to the official Petal website and choose the credit card that you prefer.
Click on “Apply” and fill out the application form with the necessary information. Upload the documents upon request and read the terms and conditions. Review all the information and documents before you submit your application.
To increase your chances of approval, take the pre-approval assessment and see if you have a good chance of getting approved.
Make sure that you do have at least a good credit rating before you apply for the card to increase your chances as well.
Managing and Utilizing the Chosen Petal Credit Card
Upon approval, you will receive a notification about how you will receive your card and information on how to activate it through the website. You should also download the Petal app and link it to your bank account.
Take advantage of the myriad of features on the Petal app to help you manage your finances. The app can help you pay on time with the AutoPay feature and even let you check your credit score to see how it has improved over time.
You can even check out a feature that will help you increase your credit limit over time as well.
Contact Details
If you want to learn more about these Petal credit cards, you can call them at 1-855-697-3825.
You can also email them at EmailSupport@petalcard.com or send them mail to their headquarters at Petal Card, Inc., MSC – 166931, P.O. Box 105168, Atlanta, GA 30348-5168.
Conclusion
All Petal credit cards may have very similar features but they play a very specific role in helping you with your financial success. These Petal cards are always an excellent option because you don't have to pay a lot of fees. Check out the benefits above and see which Petal credit card can help you with your financial goals.
