In today's consumer landscape, we all want to have financial flexibility while also leaving room for growth. This is why many credit card providers often feature different benefits for their consumers.
For example, if you're looking for a credit card to build your credit, you might want to look into the Petal 2 credit card. It is a very simple and transparent card that does not require a lot from the cardholder.
If you want to have a higher credit limit without being bogged down by fees, this is the right card for you. Check the article below to discover more features and learn how the Petal 2 credit card can empower your financial growth and flexibility.
Benefits of the Petal 2 Credit Card
One of the main reasons people often choose the Petal 2 credit card is its credit-building capabilities. This card offers a great opportunity to people looking to build their credit score or help reconstruct their credit history to make it more appealing to credit card providers.
If you are just starting to build your credit score, make sure that you start strong with the help of this credit card.
With the Petal 2 credit card, you are not required to make a security deposit, unlike many other credit cards of this caliber.
Most cards require an upfront cash deposit just in case you are not able to pay your bill on time. But this is not necessary with the Petal 2 credit card.
Credit Limits That Match Your Needs
We all often want to have the highest credit limit but it can sometimes be a negative thing, especially if you do not have full control over your financial decisions.
People who cannot control their expenses will most likely be in debt when they have a high credit limit. This is why the Petal 2 credit limit matches your credit limit with your needs.
You don't have to worry if you are given a low credit limit as a starter, as Petal will assess and provide you with only what you need. The evaluation process is more than just your previous credit score and includes other factors such as your income, savings, and spending so you'll get the best results possible.
Cashback Rewards Meant for Modern Customers
Rewards are often the reason people choose to get a credit card, but credit-building credit cards typically never come with a solid rewards program. However, the Petal 2 card is different. It offers a cashback program that includes 1.5 cash back when you make on-time monthly payments for the next 12 months.
You will then get an additional 2% cash back on purchases made at selected merchants, in addition to the rewards that you qualify for through Petal Offers. Redeeming your cashback rewards is very easy simply redeem your cashback as a statement credit for your next bill.
To do this, simply log into your Petal account and select “Perks” then choose “Redeem”. Here, you can choose to redeem your cashback as a statement credit or direct deposit to your checking account. You can also call Petal's customer service to do this for you.
Enhancing Financial Growth with the Petal 2 Credit Card
Building your credit score often leads to financial growth as you gain access to more credit for major purchases in the future, such as an auto loan or mortgage. Obtaining these can be very difficult if you have a very low credit score or no credit.
The Petal 2 credit card teaches you to become a responsible credit card user by rewarding you with perks when you pay your bill on time.
Every monthly payment made on schedule will slowly unlock the features until you become a responsible credit cardholder and your credit score gradually increases.
You'll also increase your credit limit while also having the chance at lowering your fees.
Flexibility for Today's Consumers
If you want full control over your finances, you can always download the Petal app. The Petal app lets you link your account to the app and allows you to manage your card and your finances through its amazing features.
You can check your current balance on the app so you can better manage your future expenses. You can also view your credit score and see how far you've improved from where you started.
The Petal app also gives you tips and tricks on how you can save money and even helps you with your financial goals through proper budgeting. With the Petal app, you can manage your finances conveniently and make online transactions faster and easier.
Interest Fees and Other Charges
Before you apply for the Petal 2 credit card, you should learn the card's interest fees and other charges so you'll know how to manage your finances once you have the card.
The Petal 2 card has a regular variable APR of 17.74% to 31.74% depending on your creditworthiness.
The card has no annual fee which gives you more breathing room to save on fees every year.
Cardholders also don't have to worry about foreign transaction fees, so you can make good use of this card when you go abroad and pay using the card.
If you have more questions and you want to talk to a representative, you can call their customer service hotline at 1-855-697-3825 and you will directly speak to a representative.
You can also email them at EmailSupport@petalcard.com or send them mail through the address - Petal Card, Inc., MSC – 166931, P.O. Box 105168, Atlanta, GA 30348-5168.
Applying for the Petal 2 Credit Card
Applying for the Petal 2 credit card is a smooth experience if you already have a credit card, but for those who want to apply for the first time, you will need several documents.
You will need to have proof of income such as your income tax return or bank statements and proof of identity such as your Social Security Number.
You need to be 18 years old and above and must be either employed or self-employed. You must also be a resident of the United States to be eligible for the card.
The Application Process
The application process is rather simple. All you need to do is head over to the official Petal website and log in to your Petal account.
Click on “Cards”, select “Petal 2”, and read through the terms and conditions as well as the features and benefits of the card before you sign up for the application. You can then click on “Apply" to apply for the card and fill out the application form.
Upload the required documents and review the information you have entered before you submit your application. You will need to wait for a couple of business days before you are approved and receive your new Petal 2 credit card.
Tips for Responsible Credit Card Usage
The Petal 2 credit card is a great opportunity for you to build your credit and let you earn cashback rewards but it also comes with great responsibility. This card is your chance at a better credit score so you need to be very responsible in using your card.
The very first thing that you need to learn when using a credit card is to pay on time.
Fortunately, the Petal app has a feature called AutoPay that lets you link your bank account to your credit card account and lets you schedule your payment on or before your due date.
This way you don't have to worry about making late payments or miss your due date.
Keep Your Balance Low
One of the best ways to avoid high fees is by keeping your balance low. It is the best way to build or rebuild your credit score.
The way you use your credit will heavily affect your credit score so aim to spend less of your credit.
Spend only on things that you can afford to pay and make sure that you keep your credit utilization below 30%.
Choose the Right Credit Card
There are a lot of credit cards out there that offer high credit limits or give you tremendous amounts of rewards so you get to spend as much as you can.
If you're looking to build your credit or rebuild it, you want to avoid those cards and choose the right one. This is why the Petal 2 credit card is highly recommended for those who want to build their credit rating.
Your financial goals should be the main reason for choosing the right credit card for you.
Take advantage of the Petal 2 credit card in building your credit score and achieve financial success with the flexibility that this card has to offer. Earn cash-back rewards and become a responsible credit cardholder with the help of this amazing credit card.