• Discounts and special offers
  • Subscriber-only articles and interviews
  • Breaking news and trending topics

Already a subscriber?

By signing up, you accept Moneywise's Terms of Use, Subscription Agreement, and Privacy Policy.

Not interested ?

Petal 1: Perfect for beginners

Young man in glasses sitting on couch, looking at smartphone and credit card
My Agency / Shutterstock

The Petal 1 is a “No Annual Fee” Visa Credit Card. Instead of basing your creditworthiness on your traditional credit score, Petal 1 also creates a "cash score", which takes into account your income and spending based on your bank history. This means it is easier to get approved if you have no credit.

Eventually, your cash score can help you qualify for more credit at better rates.

The card offers higher limits, better rates and no annual fee. As long as you pay your bills every month, your card will help you build credit without having to pay pesky fees.

Petal 1 also features no international fees — meaning you can take your card on the road with you wherever you go without it costing you extra.

Discover the power of FreeCash – your ticket to easy money

Dive into a world of rewards at FreeCash where earning cash is as simple as a click. No gimmicks, just real cash for your time. Join the community of earners today and watch your wallet grow effortlessly.

Make Money Now

Petal 2: Perks without fees

Portrait of cheerful young woman looking at her smartphone
Oleksii Didok / Shutterstock

Petal 2 is a “Cash Back, No Fees” Visa Credit Card designed to help you build credit with absolutely no fees.

Once you’ve graduated to Petal 2, you’ll also earn cash back every time you use the card. Petal will start you out with 1% on every transaction and if you keep on top of your monthly payments for a full year, you’ll earn up to 1.5% back.

Petal 2 is designed for applicants with fair-to-good credit or cash flow. It has all the same perks as Petal 1, but higher credit limits and lower interest rates.

How do I know which card is best for me?

Happy couple using credit card for shopping online using laptop
Inside Creative House / Shutterstock

Attributes Petal 1 Petal 2
Cash Back 2% to 10% at select stores. 1% to 1.5% on every purchase, plus 2% to 10% at select stores
APR 25.24% - 34.74% variable 18.24% - 32.24% variable
Credit limit $300 to $5,000 $300 to $10,000
Fees No annual fee (late and returned payment fees apply) None

While both cards offer some solid rewards as well as the opportunity to build up your credit score, each meets a different set of needs.

Petal 2’s interest rates start at the much lower 18.24% and offer higher credit limits, along with more cash back opportunities.

And Petal 1 is a top-notch option for borrowers who know they can consistently make their monthly payments on time and in full. Staying on top of your bills will ensure you avoid fees while steadily building up your credit.

You can manage your account for either card through the app or online. The Petal app includes:

  • A budget planner
  • A payments calculator
  • Updates on your credit score
  • Cash back offers
  • Personalized spending insights

Find a financial adviser in minutes

Are you confident in your retirement savings? Get advice on your investment portfolio from a certified professional through WiserAdvisor. It only takes 5 minutes to connect with an adviser who puts you first.

Get Started

Rake in the cash back

closeup of woman looking at credit card statement and card in front of a laptop
LittlePigPower / Shutterstock

With both Petal cards, you’ll have points offers from local stores like Gap, Banana Republic, Old Navy, Lowe’s and Casper automatically loaded into your account. This cash back offer works like a traditional rewards program where you’ll get a certain percentage back every time you use your card at one of its affiliated retailers.

Your offers will earn you 2% to 10% cash back that will be added to your Petal wallet the next billing cycle. You can then use the contents of your wallet to help pay down your card balance.

Let’s say you spend $75 on groceries every week. By the end of the year, if you’ve been using your Petal 2, you could earn up to $58.50 from your groceries alone.

Using it for big purchases pays off as well. Time to buy a new couch? Using your plastic for that $2,000 purchase puts another $30 back into your wallet.

All these little amounts add up, especially when you’re not dealing with a bunch of fees taking a bite out of your rewards. But more importantly, Petal gives you the opportunity to regain control of your financial standing. When you make payments consistently, Petal will report your responsible spending to all three major credit bureaus.

Your current credit score doesn’t tell the whole story, and with a little help from Petal, you can rewrite your narrative to enjoy your present while setting yourself up for the future.


This 2 Minute Move Could Knock $500/Year off Your Car Insurance in 2024

Saving money on car insurance with BestMoney is a simple way to reduce your expenses. You’ll often get the same, or even better, insurance for less than what you’re paying right now.

There’s no reason not to at least try this free service. Check out BestMoney today, and take a turn in the right direction.

Sigrid Forberg Associate Editor

Sigrid’s is Moneywise.com's associate editor, and she has also worked as a reporter and staff writer on the Moneywise team.

Explore the latest articles

7 types of credit card protection

There are multiple ways to make sure you are protected from credit card fraud and unexpected expenses.

Sigrid Forberg Associate Editor


The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.