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kovaciclea/Getty Images August 18, 2022 Checkmark Bankrate logo How is this page expert verified? At Bankrate, we take the accuracy of our content seriously. "Expert verified" means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content. Margaret has written for Money Under 30, MoneyGeek, The Simple Dollar, CreditCards.com, Interest.com and Fiscal Tiger, among other publications. She writes about subjects including saving, credit, insurance, investing and other financial topics. Claire Dickey is a product editor for Bankrate, and . Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer. Liz Bingler is an Associate Editor for CreditCards.com and Bankrate, where she focuses on product news and reviews. As an editor, her goal is to produce content that will help people to make informed financial decisions. Bankrate logo The Bankrate promise
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Rewards rate: 1 percent on eligible purchases or up to 1.5 percent cash back on eligible purchases when you make 12 on-time payments; 2 percent to 10 percent cash back at select merchants Welcome bonus: None Annual fee: $0 Regular APR: 15.99 percent to 29.99 percent variable Petal 2 Visa Credit Card benefits
The Petal 2 “Cash Back, No Fees” Visa Credit Card comes with a host of benefits, including: Ongoing cash back rewards
One of the most attractive benefits of this card is the fact that it earns cash back on all purchases. This means that no matter what you’re spending money on, whether it’s groceries, routine bills or fun splurges, you’ll earn cash back on each purchase. Right off the bat, you’ll earn 1 percent cash back when you make a purchase. After six on-time monthly payments, you’ll earn 1.25 percent cash back. And after 12 on-time monthly payments, you’ll earn up to 1.5 percent cash back. Additional cash back at select merchants
Further, the Petal 2 Visa Credit Card also earns 2 percent to 10 percent additional cash back at selected merchants through Petal Offers. Merchant offers are automatically loaded to your Petal account, so you’ll earn cash back as soon as you make a qualifying purchase. No annual fee
Unlike many , the Petal 2 charges no annual fee. This means that it’s a good fit for a wide range of borrowers, no matter how much (or little) you plan to spend using the card. No foreign transaction fees
The Petal 2 card doesn’t charge any , which makes it a great fit for cardholders who frequently travel internationally. Whether you have family who lives in another country, just booked a big trip or plan on studying abroad as a student, you can use the Petal 2 Visa Credit Card outside of the United States without worrying about incurring additional charges. No late or returned payment fees
This card also doesn’t charge late fees or returned payment fees, making it a flexible, forgiving option if you forget to make a payment on time one month. Reporting to all 3 major credit bureaus
The Petal 2 is designed to help borrowers build good credit, and it reports to all . While this is a customary perk for most credit cards, it’s still nice to know that a history of responsible borrowing using this card can help boost your credit score. Budgeting tools
The card comes with budgeting tools that can help borrowers to set budgets and control spending. This can make it easier to visualize where your money is going and how much you have left — and can help to cultivate responsible spending habits in the process. Freeze your card at any time
If your card is lost or stolen, or if you spot a suspicious transaction, you can freeze your Petal 2 Visa Credit Card at any time. Petal 2 data is also encrypted for extra security. Option to get preapproved
Petal gives borrowers the option to get for the card via its website before officially applying. This means that you can see your card approval odds without affecting your credit score. While preapproval isn’t a guarantee that your application will be accepted, it’s a solid indicator. Flexible credit limits
The card has a minimum of $300 and a maximum credit limit of $10,000. Petal’s program allows customers to be considered for a credit limit increase after they meet certain requirements, including paying the greater of your minimum payment or 15 percent of your monthly statement balance for six consecutive billing cycles — as well as keeping your from dropping 25 points or more during six consecutive billing cycles. Connect to Apple Pay and Google Pay
The Petal 2 Visa can be connected to and on your phone so that you can quickly and easily make purchases without taking out your physical wallet. Visa credit card benefits
In addition to the benefits offered through Petal, this card also comes with a whole host of . These include benefits like roadside assistance, emergency card replacement, fraudulent purchase protection and more. Maximizing the Petal 2 Visa Credit Card
The Petal 2 Visa Credit Card may not have the perks associated with some more premium rewards credit cards, but it’s a great , borrowers with average credit and those just starting to build credit in general. In order to make the most of your Petal 2 Visa Credit Card, you should be sure to pay off the balance in full each month in order to avoid accumulating interest. It’s also a good idea to regularly review cash back deals from participating merchants in order to see which deals you may qualify for. Further, when possible, you should try to keep your for this card under 30 percent in order to maintain or improve your credit score. The bottom line
With no annual fee and a competitive, flat cash back rate, the Petal 2 is overall a great choice for people who are new to the world of credit cards. It’s especially well-suited to borrowers that have a short (or no) credit history and are looking for a starter credit card that earns rewards. Like other flat-rate cash back cards, it may not be the best for borrowers who have a lot of spending in a particular category, like groceries or gas. Before you make the decision to apply, consider reading through our for a more in-depth look at this card’s offerings — as well as our list of the , for good measure. SHARE: Margaret has written for Money Under 30, MoneyGeek, The Simple Dollar, CreditCards.com, Interest.com and Fiscal Tiger, among other publications. She writes about subjects including saving, credit, insurance, investing and other financial topics. Claire Dickey is a product editor for Bankrate, and . Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer. Liz Bingler is an Associate Editor for CreditCards.com and Bankrate, where she focuses on product news and reviews. As an editor, her goal is to produce content that will help people to make informed financial decisions.