Petal® 1 “No Annual Fee” Visa®

Quick Snapshot

• Annual Fee: $0
• APR: 28.24%-34.24% variable
• Rewards: 2%-10% cash back at select merchants through Petal's merchant offers program. No base rewards on non-partner purchases.
• Bonus: No welcome bonus
• Best For: People with no credit history who want rewards and no security deposit requirement
• Credit Needed: No credit history required (uses cash flow data)

Overview

The Petal 1 Visa is specifically designed for people with no credit history at all. Unlike most starter cards that require a security deposit, the Petal 1 is an unsecured card that uses your bank account cash flow data to determine eligibility. If you have income, responsible spending habits, and a healthy bank balance, you can be approved even with zero credit history.

The rewards structure is unique: instead of earning a flat rate on all purchases, you earn 2% to 10% cash back at select merchants through Petal's curated offers program. Partner merchants rotate and include popular brands across dining, shopping, and entertainment. On non-partner purchases, there is no base reward rate, so the card works best when you can shop at partner merchants.

The Petal 1 has no annual fee, no late fees, no overlimit fees, and no penalty APR. The APR range of 28.24%-34.24% is higher than average, reflecting the risk profile of applicants with no credit history. The card reports to all three credit bureaus, helping you establish a credit file that can eventually qualify you for premium cards. The Petal app includes spending insights, automatic payment scheduling, and credit score tracking.

APR Breakdown

• Purchase APR: 28.24%-34.24% variable
• Balance Transfer APR: N/A
• Cash Advance APR: N/A
• Penalty APR: None

Note: Variable APR of 28.24%-34.24%. Uses cash flow underwriting; no credit history required. No penalty APR.

Benefits Overview

Merchant Cash Back Offers

• 2%-10% cash back at select partner merchants
• Partner merchants include popular dining, shopping, and entertainment brands
• Offers rotate and update regularly in the Petal app
• No activation required for available offers
• Redeem cash back at any time with no minimum

No Credit History Required

• Cash flow underwriting considers bank account data
• No traditional credit score needed for approval
• Unsecured card with no security deposit required
• Higher approval rates for applicants without credit files
• Reports to all three major credit bureaus

Zero Fee Structure

• No annual fee
• No late payment fees
• No overlimit fees
• No penalty APR
• Free credit score monitoring in the app

Rewards & Points

• 2%-10% cash back at select partner merchants
• 0% on non-partner purchases (no base reward rate)

Cash back is earned exclusively at partner merchants in the Petal offers program. Rates range from 2% to 10% depending on the merchant. Offers are viewable in the Petal app and require no activation. Non-partner purchases do not earn cash back.

Welcome Bonus

The Petal 1 does not offer a welcome bonus. The card is focused on providing an accessible path to credit building with the added benefit of merchant-specific cash back offers, which provide ongoing value for those who shop at partner brands.

Fees Summary

• Annual Fee: $0
• Foreign Transaction Fee: $0
• Late Payment Fee: $0
• Overlimit Fee: $0
• Returned Payment Fee: $0
• Cash Advance Fee: N/A (not available)
• Balance Transfer Fee: N/A (not available)

Who This Card Is Best For

Ideal For

• Credit newcomers who have no credit history and want an unsecured card
• Deposit-averse applicants who cannot or prefer not to put down a security deposit
• Partner shoppers who frequently shop at brands in Petal's offers program
• Fee-sensitive users who want zero fees including no late payment fees

Not Good For

• Everyday rewards seekers who want cash back on all purchases, not just partner merchants
• Low-APR seekers as the 28.24%-34.24% range is among the highest available
• Existing credit users who qualify for cards with better earning rates across all spending

Key Pros & Cons

Pros

• No credit history required for approval
• Unsecured card with no security deposit needed
• 2%-10% cash back at partner merchants is generous
• Zero fees across the board including no late fees
• No penalty APR protects against rate spikes
• No foreign transaction fees
• Reports to all three credit bureaus for credit building
• Free credit score monitoring in Petal app
• Cash flow underwriting gives a fair chance to credit newcomers

Cons

• No base reward rate on non-partner purchases
• APR of 28.24%-34.24% is very high
• No welcome bonus
• Cash back limited to participating partner merchants
• Credit limits may start low
• No balance transfer or cash advance options
• Partner merchant selection may not match your shopping habits
• No purchase protection or extended warranty

Alternatives to Consider

How the Rewards Add Up

Example Annual Value

Annual value depends entirely on how much you spend at partner merchants. Active partner shoppers can earn $150-$300 per year. The primary value is credit building with zero fees rather than maximizing rewards.

Should You Get This Card?

You Should Get It If...

• You have no credit history and need an unsecured starter card
• You do not want to put down a security deposit
• You shop at brands in Petal's merchant offers program
• You want a card with absolutely zero fees while learning credit
• You appreciate cash flow-based underwriting as an alternative to credit scores
• You want to build credit with reports to all three bureaus
• You value a clean app with spending insights and credit score tracking

You Should Skip It If...

• You want cash back on every purchase, not just partner merchants
• You carry a balance and the 28%-34% APR would cost you significantly
• You qualify for the Petal 2 or other cards with better rewards on all spending
• You want a welcome bonus
• You need a high credit limit
• You want purchase protection or other card benefits

Information accurate as of May 2026. Terms and conditions apply. Please visit the issuer's website for the most current information.