The Mission Lane Visa® Credit Card and the Petal® 1 “No Annual Fee” Visa® Credit Card serve consumers who need to build or rebuild their credit. Other than that, they have some differences. Unlike the Mission Lane Visa, the Petal 1 has a limited cash back program and no annual fee. However, neither card offers a welcome bonus, and both of them skimp on many benefits that people usually associate with unsecured credit cards.

Below, we’ll compare the two cards in depth to help you decide which card might be a better fit for you.

Main details

Mission Lane Visa Credit Card Petal 1 “No Annual Fee” Visa Credit Card
Welcome bonus N/A N/A
Rewards rate N/A N/A — but 2% to 10% cash back via select merchant offers
Intro APR N/A N/A
Regular APR 26.99% to 29.99% (variable) 24.74% to 34.24% (variable)
Annual fee $0 to $59 $0

Mission Lane Visa vs. Petal 1 highlights

Welcome bonus winner: Tie

Neither card offers a welcome bonus, so the Mission Lane Visa and Petal 1 tie in this category.

Rewards rate winner: Petal 1

Although the Petal 1 doesn’t offer a traditional rewards program, it has a cash back program called Petal Perks. These offers will automatically be loaded to your Petal 1 account. Whenever you make an eligible purchase, you’ll earn cash back. The cash back you can earn by shopping with select merchants will vary from 2 percent to 10 percent.

The Mission Lane Visa doesn’t offer any rewards, so the Petal 1 wins in this category.

Annual fee winner: Petal 1

The Mission Lane Visa includes a $0 to $59 annual fee, while the Petal 1 has no annual fee.

Foreign transaction fee winner: Petal 1

While the Mission Lane Visa has a 3 percent foreign transaction fee, the Petal 1 doesn’t charge a fee on foreign transactions. This means the Petal 1 is a great card to use abroad. Still, remember to always pay in local currency to avoid a dynamic currency conversion fee.

Which card earns the most?

Since the Mission Lane Visa doesn’t offer a traditional cash back program of any kind, the answer to this question is simple: Petal 1. The Petal 1’s Petal Perks program lets you earn 2 percent to 10 percent cash back by shopping with select merchants. Enrollment is automatic, and you just need to use your Petal 1 card at a participating merchant and meet the offer details to earn cash back.

While Petal 1’s cash back program is a nice feature to have, there is no way to predict whether or not it will be useful to you — it all depends on your shopping habits. Also, the offers you’ll receive will vary, and they may vary based on your location.

Why should you get the Mission Lane Visa?

If you want to fully concentrate on rebuilding your credit — and if you don’t care about rewards and most traditional credit card benefits — then the Mission Lane Visa might be worth it. Just make sure to always pay your credit card bills in full because you certainly don’t want to pay a variable APR of 26.99 percent to 29.99 percent.

Additional benefits

  • Prequalification. From the Mission Lane home page, you can fill out a short online form to check your eligibility. Checking if you qualify for a card is a soft credit inquiry (or soft pull). This lets you avoid the hard credit inquiry (or hard pull) associated with applying for a card, which can temporarily lower your credit score.
  • Shot at a credit line increase. Mission Lane will monitor your payment history and may automatically boost your credit limit after seven months of responsible card use.
  • Free access to your credit score. You will have access to your credit score at any time, as well as access to credit-building education.
  • You may get no annual fee. Depending on your creditworthiness, Mission Lane may offer you a Mission Lane Visa with no annual fee.
  • Reporting to all three major bureaus. Mission Lane reports to all three major credit bureaus: Equifax, Experian and TransUnion. That may increase your chances of getting approved for loans and other credit cards in the future.
  • Zero fraud liability. You’re not responsible for any fraudulent charges when your card is lost or stolen.

Redemption options

The Mission Lane Visa doesn’t offer a rewards program, so there are no redemption options.

Recommended credit score

The recommended credit score for the Mission Lane Visa is bad to fair (300 to 669).

Why should you get the Petal 1?

The Petal 1 Visa operates on the premise that credit scores “don’t tell the whole story.” So even if your FICO score is poor, Petal 1 may look at your banking history to assess your actual creditworthiness. As a result, even consumers with a thin credit file or no file at all have a chance of getting approved for this unsecured credit card.

Still, there is a chance you could prequalify for the Petal® 2 “Cash Back, No Fees” Visa® Credit Card. Depending on your creditworthiness, you might be able to get the Petal 2 instead of the Petal 1, which has a traditional cash back program.

Additional benefits

  • Limited cash back program. Petal 1’s Petal Perks program allows you to get 2 percent to 10 percent cash back when shopping with select merchants.
  • Petal’s Leap program. Petal 1 will increase your credit limit after six months if you make timely payments for six months and stay within a specific credit score range.
  • Free access to your credit score. Petal will pull your credit score from Experian once a month.
  • Auto rental collision insurance and theft coverage. This is a valuable Visa credit card benefit that covers your rental vehicle in case it gets stolen or damaged in an accident.
  • Visa Local Offers with Visa and Uber. When you use your card at any one of 1,000+ featured merchants, including restaurants, retailers and coffee shops, you’ll automatically earn Uber credits. All you need to do is add your Petal 1 card to your Uber account.

Redemption options

Cash back earned through merchant offers can be redeemed in your Cash Back Wallet. You can redeem cash back in the form of a statement credit in any amount or else in the form of a check or an ACH transfer to your bank account once you have $20 or more.

Recommended credit score

The Petal 1 card doesn’t require any credit history to apply.

​The bottom line

Aside from getting a secured credit card, consumers with bad credit usually have limited unsecured card options. The Mission Lane Visa Credit Card and Petal 1 “No Annual Fee” Visa Credit Card are both unsecured cards that will help you to build or rebuild your credit.

Both cards offer quick online preapproval options to see whether or not you’re eligible, which will help you to make an informed decision before you apply. That said, the no-annual-fee Petal 1 card offers some traditional credit card benefits and cash back earning opportunities that the Mission Lane Visa doesn’t offer.