Petal is a financial technology company that offers a credit card with no fees, no interest, and no credit score requirements, aiming to provide greater access to credit for millions of Americans, particularly those with limited or no credit history, such as students, immigrants, and low-income...
No credit score required for membership application.
No hidden fees or interest rates applied.
Members can borrow up to $500 at 0% APR.
Repayment terms range from 3 to 24 months.
Petal reports to all three major credit bureaus.
Members can earn rewards and cashback on purchases.
Real-time credit monitoring and alerts for unusual activity.
Petal offers financial education and budgeting tools.
What is Petal and how does it work?
Petal is a credit card company that uses cash flow underwriting to approve customers, rather than traditional credit scores, offering more inclusive and flexible payment terms.
How do I apply for a Petal card?
You can apply online through Petal's mobile app, or by phone, providing basic personal and financial information, and potentially linking a bank account for verification.
What are the benefits of using Petal?
Petal offers competitive rates, no fees, and flexible payment terms, as well as tools to help users track their spending and improve their financial health.
How does Petal report to credit bureaus?
Petal reports payment history and credit utilization to all three major credit bureaus, helping users establish or improve their credit scores over time.
Can I use Petal for everyday purchases?
Yes, Petal can be used for everyday purchases, both online and in-store, with no foreign transaction fees, making it a great option for daily expenses.
Is Petal a secured credit card?
No, Petal is not a secured credit card, and no deposit is required, making it a more accessible option for those building or rebuilding credit.
Petal's AI-powered credit scoring helps hospitals offer financing options to patients who cannot afford medical procedures, improving healthcare accessibility and reducing bad debt
Petal's alternative credit scoring model enables fintech companies to approve more loan applications from underserved populations, increasing financial inclusion and revenue
By integrating Petal's credit scoring into their equipment financing offerings, industrial companies can expand their customer base and increase sales of machinery and equipment
Retailers can use Petal's credit scoring to offer financing options to customers at point-of-sale, increasing average order value and customer loyalty
Petal's credit data and analytics enable marketers to create personalized financial services offers and targeted campaigns, driving customer engagement and conversion
Educational institutions can leverage Petal's credit scoring to offer financing options to students, increasing accessibility to higher education and improving student outcomes
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