The Petal® 1 “No Annual Fee” Visa® Credit Card is a credit-building card designed for individuals with limited or no credit history.
Unlike traditional credit cards that rely solely on credit scores, Petal 1 uses alternative financial data to determine eligibility, making it an excellent option for people new to credit or looking to improve their financial standing.
Issued by WebBank, this card offers a solid alternative to secured credit cards by providing unsecured credit limits without requiring a security deposit.
It also features no annual fees, cashback rewards at select merchants, and reporting to all three major credit bureaus, helping cardholders build a positive credit history over time.
About WebBank & Petal
The Petal® 1 Visa® Credit Card is issued by WebBank, a FDIC-insured bank based in the United States, known for its partnerships with fintech companies.
WebBank is a trusted institution that offers innovative credit products designed for consumers who may not qualify for traditional credit cards.
The Petal card program was created by Petal, a financial technology company focused on expanding credit access through data-driven solutions.
Petal’s mission is to help people build credit and achieve financial success, especially those with little or no credit history.
With WebBank’s reliability and Petal’s modern approach, this credit card offers a seamless, consumer-friendly experience that prioritizes accessibility, affordability, and financial education.
Who Should Consider This Card?
The Petal® 1 Visa® Credit Card is ideal for:
Individuals with limited or no credit history who need a stepping stone to better credit.
People looking for an unsecured credit card without the need for a security deposit.
Consumers who want a simple, transparent credit-building card without hidden fees.
Those interested in earning cashback at select merchants while improving their credit.
Anyone who wants a credit card that promotes responsible financial habits through a user-friendly app.
If you have good or excellent credit, you may qualify for better rewards cards with higher cashback rates and lower interest rates. However, if you’re just starting out or rebuilding your credit, the Petal® 1 Visa® Credit Card is a strong option.
Top Benefits of the Petal® 1 Visa® Credit Card
No Annual Fee
- Unlike many credit-building cards, Petal 1 does not charge an annual fee, making it a cost-effective choice.
No Security Deposit Required
- Many credit-building cards are secured, requiring a deposit. Petal 1 is completely unsecured, allowing users to access credit without upfront costs.
Reports to All Three Major Credit Bureaus
- Payments are reported to Experian, Equifax, and TransUnion, which helps users build a strong credit history over time.
Credit Limits Up to $5,000
- Depending on your financial profile, you may qualify for a credit limit between $300 and $5,000, which is higher than many starter credit cards.
Alternative Underwriting Process
- If you have limited or no credit history, Petal 1 can evaluate your income, expenses, and banking history to determine eligibility.
Cashback at Select Merchants
- Earn 2% to 10% cashback at participating retailers, providing extra value while using the card.
User-Friendly Mobile App
- The Petal app offers spending insights, due date reminders, and automatic payments, helping users manage their finances responsibly.
No Foreign Transaction Fees
- Unlike many entry-level credit cards, Petal 1 does not charge foreign transaction fees, making it a good option for international use.
Potential for Credit Limit Increases
- Responsible usage may lead to automatic credit line increases, helping users improve their credit utilization ratio.
Additional Features & Protections
Mobile & Online Account Management
- Easily manage your card, track spending, and set up autopay through the Petal mobile app.
Fraud Protection & Zero Liability
- Petal 1 offers Zero Fraud Liability, ensuring that unauthorized charges are not your responsibility.
Financial Insights & Budgeting Tools
- The app provides spending analytics, helping users stay on top of their finances.
Fees & Interest Rates
Annual Fee: $0
APR: 24.49% – 34.99% Variable APR
Foreign Transaction Fee: $0
Late Payment Fee: Up to $40
The Petal® 1 Visa® Credit Card has no annual fees or foreign transaction fees, but its APR is on the higher side, so carrying a balance is not recommended. Paying the full statement balance each month can help you avoid interest charges.
Is the Petal® 1 Visa® Credit Card Worth It?
The Petal® 1 Visa® Credit Card is a great option for individuals with limited or no credit history who want an unsecured credit card without hidden fees.
Here’s why it might be a good choice:
No annual fee – an affordable way to build credit.
No security deposit required, unlike many credit-building cards.
Higher credit limits than many starter credit cards.
Alternative underwriting process for those with no credit history.
Cashback rewards at select merchants.
Reports to all three major credit bureaus, helping to boost your credit score.
Fees and charges
● APR: 28.99% - 33.99% ;
Expert review
The Petal 1 Credit Card is an excellent option for individuals looking to build or improve their credit without the need for a security deposit.
It offers 1% cash back on purchases, with the potential to earn up to 1.5% cash back after making 12 on-time payments.
With no annual fee, it's a cost-effective way to earn rewards while building credit.
However, the card has a high APR, which can make carrying a balance expensive.
It's best suited for users who can pay off their balance in full each month.
You will remain on this site
+Positive points
- No Annual Fee: Enjoy the benefits of a credit card without the added cost of an annual fee.
- 1% Cash Back on Purchases: Earn cash back on every purchase, with the opportunity to increase to 1.5% after 12 months of on-time payments.
- No Security Deposit: Ideal for those with limited or no credit history, as it doesn’t require a deposit.
- Credit Reporting to Major Bureaus: Helps build credit by reporting to the three major credit bureaus.
- Easy Application Process: A simple application process, especially for those new to credit.
- Negative points
- High APR: The card comes with a potentially high APR, which can make carrying a balance expensive.
- Low Initial Cash Back Rate: While 1% cash back is decent, it’s lower compared to other rewards cards.
- Limited Benefits: The card lacks additional perks like travel benefits or higher rewards rates in specific categories.