Petal® 2 “Cash Back, No Fees” Visa® Credit Card review

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Best for student starter card

Annual Fee:
Purchase Intro APR:
Regular APR:
12.99% - 26.99% (Variable)
Terms and Restrictions Apply

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Best for credit-building cash back rewards

  • Rewards rate: Earn 1 percent or up to 1.5 percent cash back on transactions when you make 12 on-time payments, plus 2 percent to 10 percent cash back at select merchants.
  • Welcome offer: N/A
  • Annual fee: $0
  • Purchase intro APR: N/A
  • Balance transfer intro APR: N/A
  • Regular APR: 12.99 percent–26.99 percent variable APR

The Petal® 2 “Cash Back, No Fees” Visa® Credit Card is a no annual fee credit card that helps you build a credit score with responsible use. The Petal 2 card has a credit limit of $500 to $10,000 based on creditworthiness and offers cash back rewards on transactions. You earn 1 percent cash back immediately with purchases and up to 1.5 percent cash back total when you pay back your purchases (after making 12 on-time monthly payments). You can also get 2 to 10 percent bonus cash back at select merchants. If you’re looking for a card to build up credit, Petal 2 can be a good option since it’s one of the best credit cards for no credit history on top of its cash back rewards.

Petal 2 Visa Credit Card current welcome offer

The Petal 2 card currently doesn’t have a welcome bonus offer.

Cash back

All transactions are eligible to earn cash back with the Petal 2 credit card. Cardholders can earn 1 percent cash back automatically or up to 1.5 percent when making 12 payments on time. Additionally, the Petal 2 card can earn you up to 2 to 10 percent cash back at select merchants through Petal Offers. It’s worth noting that you’re actually earning “Cash Back Points,” which are simply a middle-man rewards currency that can be redeemed for cash back, instead of receiving cash back directly into your pocket.

Earning cash back

You’ll earn 1 percent cash back on purchases right away but if you make 12 on-time payments, you can earn even more cash back: 1.25 percent after six on-time payments or 1.5 percent after 12 on-time monthly payments. From time to time, you may also be able to earn “Bonus Cash Back Points” on qualifying purchases at an undisclosed higher cash back rate or alternative type of reward.

There are also opportunities to earn 2 to 10 percent cash back at select merchants with the Petal Offers program. Share your location with the Petal card app, and you’ll see nearby local businesses that have higher cash back offers. Merchant offers are automatically loaded to the Petal account, so if you spend at a selected merchant, you’ll automatically be eligible for higher cash back offers if they’re available.

Redeeming cash back

With every purchase with the Petal 2 credit card, 1 percent of what you spend is automatically deposited into your Cash Back Wallet the following billing cycle. You can redeem the Cash Back Points in your Cash Back Wallet as a statement credit up to the amount of the current balance. If you have more than $20 available to redeem, you can also call the Petal card company to request an ACH transfer to a bank account or to request a check.

Petal 2 Visa Credit Card: Benefits

The Petal 2 card can be a good alternative to the traditional student credit card if you want to build credit without one (or if you aren’t eligible) since you don’t need previous credit history to qualify, and Petal’s . Consider these benefits as you’re making a credit-building card selection.

Cash back benefits

Maximize the amount of cash back you earn by looking at merchant deals that offer 2 to 10 percent cash back rewards.

Travel benefits

There is no need to worry about foreign transaction fees when you use the Petal 2 credit card. If you’re in a pinch on the road, you’ll also have access to Visa benefits like auto rental collision insurance, theft coverage and roadside dispatch.

Credit-building benefits

The Petal 2 card usage is reported to all three major credit bureaus. As you pay back what you owe on time, you can build up your credit and increase your cash back rewards stockpile. You can also use Petal’s mobile app to manage your money and receive a free credit score to track your progress.

Rates and fees

The “no-fee” Petal 2 credit card has no annual fees, no foreign transaction fees, no late fees and no returned payment fees. In exchange, you can’t make balance transfers or cash advances at the moment (which technically means no fees for either of these functions either).

The variable purchase APR of 12.99 to 26.99 percent is based on creditworthiness, and can be well below the current average interest rate. Your potential credit limit is also based on your creditworthiness, which can range from the minimum $500 up to $10,000 on occasion.

How the Petal 2 Visa Credit Card compares to other cash back credit-building cards

If you’re looking for a cash back credit card to build credit, consider a couple of other options that may be a better fit. One is the Discover it® Secured Credit Card, where you can earn 2 percent cash back at restaurants and gas stations on up to $1,000 in combined purchases each quarter (then 1 percent) and unlimited 1 percent cash back on all other purchases. Your refundable security deposit amount becomes your line of credit, and the card has no annual fee and no foreign transaction fees. Any cash back rewards you earn during the first year will be automatically matched at the end of the year.

For students, the Discover it® Student Cash Back card has cash earning options and ranks highly in student credit card reviews. Cardholders can earn 5 percent cash back on rotating categories when activated each quarter (up to $1,500 in purchases per quarter, then 1 percent), in categories like and grocery stores. This card also provides a cash back match for the first year at the end of the first year, as well as a $20 statement credit each school year when you earn a 3.0 or higher GPA for up to the next five years. The card has no annual fee, no foreign transaction fees and a 0 percent introductory APR period for six months on purchases (then, a 12.99 percent to 21.99 percent variable APR applies).

Card Name Rewards rate Welcome Offer/Bonus Purchase APR Annual fee
Petal 2 “Cash Back, No Fees” Visa® Credit Card
  • 1% cash back automatically, 1.25% cash back after six months of on-time payments and 1.5% cash back after 12 months of on-time payments
N/A 12.99% to 26.99% variable APR $0
Discover it® Secured Credit Card
  • 2% cash back at gas stations and restaurants (on up to $1,000 in combined purchases each quarter, then 1%)
  • 1% unlimited cash back on all other purchases
  • All cash back earned by the end of the first year is matched.
22.99% variable APR, 10.99% intro balance transfer APR for the first six months $0
Discover It® Student Cash Back
  • Enroll every quarter to earn 5% cash back on up to $1,500 in purchases each quarter made in various rotating categories, then 1%
  • All cash back earned by the end of the first year is matched.
  • $20 statement credit each school year the cardholder’s GPA is 3.0 or higher, up to 5 years
0% intro APR for six months on purchases and intro 10.99% balance transfer APR for six months, then 12.99% to 21.99% percent variable APR $0


Best cards to pair the Petal 2 Visa Credit Card with

Remember that it might not be a good idea to apply for other cards at the same time when you’re working on your credit, since applying for too many cards at once may temporarily hurt your credit score. It might be a better idea to use the Petal 2 card to build a credit score first, then look into additional options. After some time, as your credit improves, you can start looking into cards for good credit, including travel rewards credit cards and cash back cards that offer better cash back rates.

Bankrate’s take—Is the Petal 2 Visa Credit Card worth it?

Many credit-building cards don’t have a rewards structure. The Petal 2, on the other hand, lets you earn cash back and rewards you with a higher cash back rate for making on-time payments (which may be a good incentive to build your credit).

Students may have better options with a student credit-building card. Depending on the cash back rewards structure that works best for you, you may want to look into other cash back rewards cards, as well.


  • You don’t need a credit score to qualify
  • No annual fee, foreign transaction fees, late payment fees, or returned payment fees
  • You can earn up to 1.5 percent cash back on all purchases (with 12 on-time payments)
  • Unsecured credit card, so no security deposit required


  • Does not offer balance transfers or cash advances at this time
  • Barebones benefits