The Petal Card, a credit card designed for people with low credit scores, is available. Petal cards are not like other credit cards. They require that you have a clean credit record and no bankruptcy history. You might consider a secured credit line if your credit is not good. Before you choose which credit card is best for you, it is important to know the differences between these two types.
Petal(r), 2 Visa (r) Credit Card
Petal 2 Visa Credit Card is free for all consumers. This card is ideal for those who are just beginning to build credit. It is ideal for people with either average or poor credit due to its no-deposit, no-fee policy. It also offers a reasonable credit limit and cash back rewards of up to 1.5%.
Although the Petal 2 Visa Credit Card might be easier than other secured cards to get approved for, you need to still take into account your credit history. It is not a good idea to get one if you have deeply damaged credit or have a history of missed payments. Your income, savings, and credit score will be used to determine whether you are approved.
You will also enjoy the low annual cost, no foreign transaction fees, as well as no penalty APR (late payments) To avoid late fees, it is crucial to make your payments on time. This is important as late payments can damage your credit history and lead to lower credit score points.
Petal 2 Visa(r), Credit Card offers many benefits, including no security deposits and a credit limit of $500. You can also earn cash back with this card, which rivals better credit cards.
Petal(r) 1 Visa(r) Credit Card
If you are trying to improve your credit, the Petal(r.1) Visa(r) card is an excellent choice. This credit card can be linked with your bank account so that you don't have worry about having to pay a high annual fees. The card comes with an app that makes it easy to manage your account.
The Petal 1 Visa Credit Card comes with decent rewards and no annual fee, but it has limited benefits. You can redeem your rewards for travel assistance and extended warranty coverage. Consider the Indigo platinum Mastercard instead if your credit isn't good. This card is more rewarding and does not require a security deposit.
Petal 2 Visa, another excellent choice, is a good option for a credit card. This card is especially suitable for young adults and recent college grads without a lot of credit history. It offers a $500 credit limit which is greater than those on other starter credit cards. The card also offers cash back up to 1% on your daily purchases. You can also earn 2% to 10% in rewards at select retailers.
Petal 1 Visa(r), Credit Card has no annual fees and offers 2% to 10% cashback at selected merchants. It also has no introductory APR or welcome bonus. It will cost you late payment fees but this is better than some other options.