Petal® 1 «No Annual Fee» Visa® from WebBank Credit Card Review

Petal® 1 "No Annual Fee" Visa® from WebBank — all information about the credit card.

By Hanna Volkava
Updated September 12, 2023
This credit card currently unavailable on Myfin.us

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

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WebBank Petal® 1 "No Annual Fee" Visa® Rewards Calculator

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All benefits

  • Cash back
    • 2% - 10%:
    • At select merchants.

Rate and fee information

  • Purchase Intro APR
    • None
  • Purchase APR
    • 25.24% - 34.74% Variable
  • Intro Balance Transfer APR
    • None
  • Balance Transfers APR
    • None
  • APR for Cash Advances
    • None
  • How to Avoid Paying Interest
    • Your due date is at least 25 days after the close of each billing cycle. You will not be charged any Interest on purchases if you pay your entire balance by the due date each month.

Fees

  • Annual Fee
    • $0
  • Return Payment
    • $29
  • Late Payment
    • Late fees up to $29 for first late payment, $40 for second late payment
  • Return Check
    • Up to $29
View all Rates & Fees

Pros & Cons

Pros:
  • $0 Annual fee
  • No foreign transactions fee
  • No credit score needed to apply
  • Earn rewards with Petal® 1 "No Annual Fee" Visa®
  • Increase your credit limit in 6 months
Cons:
  • No Intro APR
  • High purchase APR
  • No signup bonus
  • Cash back only with select merchants

Features

Classic
Visa
  • No Annual Fee
  • No foreign transaction fees
  • Cashback
  • Payment Flexibility
  • Fraud Protection
  • Rewards
  • Free Credit Score
  • Purchase Protection
  • Poor Credit
  • Fair Credit
  • Good Credit

About the issuer

WebBank has several card types depending on your needs.
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Petal® 1 Visa® Credit Card Review

Petal® 1 «No Annual Fee» Visa® comes with a $0 annual fee, no foreign transactions fee, and cash back opportunities from 2% to 10% at select merchants. Petal® 1 card doesn’t use only a FICO score to determine your creditworthiness but rather looks beyond it to create a score based on your banking history. If you are looking for a credit card that will help you to build/rebuild your credit - Petal® 1 Visa® is one of the options to consider despite its high variable APR of 25.24% - 34.74% and no intro APR offer (these shortcomings are quite usual among the credit cards for bad credit).

Pros: Cons:
$0 Annual Fee. Petal® 1 Visa® is a $0 annual fee credit card, which is not typical for credit cards for bad or no credit. No Intro APR. There is no introductory APR period at all, which is typical for this type of credit card.
No foreign transactions fee. One more fee that you won’t have to pay using the Petal® 1 Visa® credit card is a foreign transactions fee. That makes Petal® 1 card a great choice for travelers. High purchase APR. The variable APR of 25.24% - 34.74% (based on your creditworthiness) is a high rate. It is worth mentioning such rates are common among credit cards for bad credit (the average APR is 24% and above).
No credit score needed to apply. The issuer of the Petal® 1 card looks deeper into your banking history and doesn’t use a familiar FICO score only to determine your creditworthiness. So, even if you don’t have a credit score or your FICO score is poor - you can apply for Petal 1 credit card and be approved with a high chance. No signup bonus. Petal® 1 Visa® doesn’t offer any kind of signup bonus. But it’s common for unsecured credit cards for bad credit.
Earn rewards with Petal® 1 «No Annual Fee» Visa®. Check current merchants in the Petal app and get from 2% to 10% cash back at select merchants. Cash back only with select merchants. Even though there are some cash back options with Petal® 1 Visa®, the offers are narrowed. You can only get cash back with select merchants.
Increase your credit limit in 6 months. Increase the originally established credit limit in 6 months by making qualifying on-time payments and keeping your credit score within a personalized range. The Petal® 1 Visa® credit card has a credit limit of $300 - $5,000.

Petal® 1 Visa®: rewards system in a nutshell

The Petal® 1 Visa® rewards system is not typical. There is no flat-rate cash back for every purchase or even in some special categories. You can only get 2% - 10% cash back at select merchants that you can find in the Petal mobile app. However, the number of these merchants is constantly growing.

Petal® 1 Visa® cash back can be redeemed in 2 ways:

  • Get your cash back as a statement credit up to the amount of your current balance.
  • If the amount of cash back that you would like to redeem is $20 or more you can request a check or a direct deposit to your bank account.

Who can benefit from getting the Petal® 1 Visa® Credit Card?

Petal® 1 Visa® credit card is not a common credit card for bad credit. It looks beyond your FICO score which allows people with bad/limited credit history to get a chance to be approved. If you can’t get a regular credit card due to your non-ideal credit history - Petal® 1 Visa® might be a great alternative.

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Those who don’t like to deal with a huge number of various fees will definitely appreciate Petal® 1. If you make on-time payments - there will be no fees at all. The foreign transactions fee is nonexistent which makes Petal® 1 credit card a nice option for travelers with a bad/limited credit history.

The limitation of the rewards system may seem like a major drawback if you want not only to improve your credit but also get constant cash back from all purchases. In this case, we would recommend taking a closer look at Petal® 2 Visa® Credit Card - the second card on the Petal credit cards’ list. You won’t have to pay annual and foreign transaction fees. The variable purchase APR of 18.24% - 32.24% is lower, and there is a chance of earning 1% cash back on every eligible purchase plus 2% - 10% bonus cash back at select merchants. If you will pay on time for 12 months straight - you will be able to earn up to 1.5% cash back on every eligible purchase.

Are there any other benefits?

Here, we have a list of benefits that weren’t mentioned earlier but still deserve your attention:

  • Reports to all 3 major credit bureaus. Petal 1 reports to the 3 main credit bureaus: TransUnion, Equifax, and Experian. With its help, you can easily start to build or improve your credit history.
  • 24/7 support service. Customer support is ready to help you with every concerning question through the mobile app or by calling on their support service number any time.
  • Innovative mobile application. Petal mobile app is truly remarkable. You can plan your budget, check your credit score, control your paid subscriptions, find cash back merchants near you, and calculate how much interest you'll likely owe based on what you choose to pay.
  • See your pre-approval status within minutes. You can pre-qualify for the Petal® 1 card on the Petal official website in a few minutes and see if you are likely going to be approved or not without impacting your credit score.

Conclusion

Overall, Petal® 1 Visa® is a good credit card on the way of building or rebuilding your credit. If you make payments on time - there will be no fees at all which is almost unique for no-history credit cards or credit cards for bad credit.

There are some notable drawbacks that Petal® 1 Visa® has: high APR, no signup bonus, limited cash back options, and absence of balance transfers and cash advances features. However, among credit cards for bad credit, these disadvantages are not unusual.

With Petal® 1 Visa® that looks beyond your crest score, you can quite easily get the card and start building or rebuilding your credit. Planning the budget function in the Petal mobile app will help you on your way of doing it. In 6 months of minimum payments, you will also be able to increase your credit limit which helps to increase your credit score because it lowers your credit utilization.

Petal® 1 card might become the first step on your way of building your credit score. It will help you to apply for a better credit card in the future.

FAQ

What is the customer service phone number for Petal® 1 Visa® Credit Card?

You can contact Petal® 1 Visa® customer support service 24/7 by calling on the following number: 1-855-697-3825.

How to check my application status for Petal® 1 Visa® Credit Card?

Before applying, you will be able to know your pre-approval status. After submitting the application for the Petal® 1 Visa®, you will receive an email where you will find out if you are approved or not. If you can’t wait and there is no email for a long time - you can write to Petal support yourself at the following email address: support@petalcard.com.
Hanna VolkavaHanna Volkava

Financial and product expert

hv@myfin.us
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