Submitting for a pre-approval is how you find out if you may be eligible for a Petal credit card without impacting your credit score. If you have questions about your particular I was interested in this card due to the promotion of building credit. financial situation, it’s best to talk with a qualified professional. The only way to see for sure if you qualify is by submitting your full application after you’ve been pre-approved. A pre-approval is good news—it means you’ve met the initial criteria for one, or both, of the Petal cards. The Petal credit card is issued by WebBank, Member FDIC. Keep in mind that the content on our FAQ and Help Center was created to With 3 bureau credit reporting, cash rewards, no annual or other kinds of fees, and pre-approval, the Petal2 Cash Rewards Visa might be hard to pass up. You’ll still need to submit an application to see if you’re approved. I only have one other credit card and thought that would be a good addition to bolster my credit. Does that mean I will be approved to get a Petal card? Credit limit up to $10,000. The Petal® 2 "Cash Back, No Fees" Visa® Credit Card is available to consumers with no credit history or a limited credit history, so you don't need any specific credit score to get it. Since the approval process can take into account your income and spending along with your credit score, you could qualify for a higher limit than you would with most credit building cards, without putting down a deposit. Some of WebBank’s credit cards include the AvantCard, the Petal Visa Credit Card, and the Yamaha Financial Services Credit Card. help you better understand how Petal’s products and services work—it is not meant to provide legal or financial For a limited time, Petal will pay new cardholders a $50 bonus when approved. Instead of using credit history to determine credit worthiness, Petal connects to your bank accounts to get a sense of your digital financial record for approval purposes (an interesting approach we’ve seen in other segments of the credit card market). Not much has changed in terms of its features: The Petal 2 still carries no … The bottom line is this: If your credit isn't perfect, but your score is above 620, then you have a shot of getting approved for a fee-free credit card. What are the minimum requirements to get approved for a Petal card? You’ll still need to submit an application to see if you’re approved. © 2020 Petal Card, Inc. Congrats! A pre-approval is good news—it means you’ve met the initial criteria for one, or both, of the Petal cards. financial situation, it’s best to talk with a qualified professional. The Petal® 1 "No Annual Fee" Visa® Credit Card is for those who don't have a strong enough cash flow or credit history to qualify for the Petal® 2 "Cash Back, No Fees" Visa® Credit Card. If you have questions about your particular You can check for Petal Credit Card pre-approval without impacting your credit score by filling out this online pre-approval form. How is my credit score used in my application? Pre-approval and approval are not necessarily the same. The Petal 2 Visa Credit Card offers surprisingly many benefits to its cardholders. Petal 2 Visa Credit Card - Petal Card. Submitting for a pre-approval is how you find out if you may be eligible for a Petal credit card without impacting your credit score. If you weren't pre-approved for any Petal credits, you won't be able to move forward with your application at this time. The Petal® 2 "Cash Back, No Fees" Visa® Credit Card is a tech-savvy and user-friendly card for those with little or no credit. The promise that if you have no credit report or they lack information then they will ask for bank account records to judge you better. © 2020 Petal Card, Inc. Have a valid Social Security Number or Individual Taxpayer Identification Number, Be 18 or older (19 or older if you reside in Alabama or Nebraska), Permanently live in one of the 50 United States, Washington, D.C., or a U.S. military location. It can also be used to take you to where you left off. Your phone number is used to verify your identity and protect your info. Petal 1 Credit Card Petal 2 Credit Card; Credit needed: Limited/Poor/Average: Limited/Average/Good: Annual fee: $0: $0: Rewards: Earn between 2% to 10% cash back from select merchants. Earn cash back on eligible purchases and build your credit with on-time monthly payments. Even though it is designed for those with Limited or No Credit applicants, too, the Petal 2 "Cash Back, No Fees" card comes with no security deposit required - it's an unsecured starter credit card. So, let’s take a look at a wide range of credit card pre-approval links from some of the most well-known issuers in the U.S. Our list also includes credit cards with consumers in mind who have less-than-stellar credit. Pre-approval does not guarantee an account approval and you must submit a full application for review in order to apply for any offer(s) of credit. The Petal Visa Credit Card is now known as the Petal® 2 "Cash Back, No Fees" Visa® Credit Card. advice, or indicate the availability of any product or service. You’ll still need to submit an application to see if you’re approved. The bank account must: Be a valid checking or savings account(s) from a U.S. financial institution, Have you listed as the primary or joint account holder, Be the account(s) where you receive your primary income, Have at least 3 months of banking history, Have a valid U.S. or foreign government-issued photo ID, Your current address is a correctional institution, You have previously applied for, or currently have, a Petal card account, You have filed for bankruptcy within the past 48 months, If you’d like to see if you’re likely to be approved for a Petal card without impacting your credit score, you can fill out the. I was sent a pre approval by Petal, while I has a 5 month old report and score of 687 with a pretty reasonable salary. If you find pre-approved credit card offers annoying, there is a way to stop receiving them. Posted: (2 days ago) By submitting a pre-approval request, you grant your permission to be evaluated for multiple Petal credit cards. How quickly will I find out if I am approved to get Petal? Petal 2 requires better credit than Petal 1. Congrats! Based on this information, you may not receive a card if you do not meet previously established credit criteria. Petal 1: Low to fair credit (580 to 669) Petal 2: Fair to good credit (670 to 739) 6. I filled out the pre-approval application in February of 2020 and got a letter in the mail to apply for the card in July of 2020. Link your primary bank account to your Petal card application. And what’s even better, pre-applying for a credit card using one of these applications won’t hurt your credit rating. Just verify your phone number, email address and a few other personal details, and you'll know if you're pre-approved in moments. The practice of preapproving credit cards is more common for major credit card issuers than it is for retail credit cards, but there are a few stores that offer it. Let's start with a security deposit. The Petal ® 2 Visa® Credit Card, which runs on the Visa network, is one of the best of the bunch when it comes to cards aimed at those with less-than-stellar credit. If you weren't pre-approved for any Petal credits, you won't be able to move forward with your application at this time. Will applying for a Petal card affect my credit score? The Petal 2 Visa Card offers up to 1.5% cash back and up to 10% cash back at select merchants. Question i applied for a Petal card and was delcined the letter they sent me said my Experian score was - 5494546 - 2 ... Petal credit card apllication I got there card a while back, because I was curious how they determine approvals. Respectable cash back: With the Petal 2 card, you will earn unlimited 1% cash back on purchases; after 6 on-time payments, earn 1.25% cash back; after 12 on-time payments, earn 1.5% cash back.Rewards on the Petal 1 are not as robust. What information do I need to provide in the application? This may happen, for instance, if there have been major changes to your credit report over the past 30 days. To be eligible for Petal Credit Card pre-approval, you must: The card has absolutely no fees and the ability to improve your credit score. To be eligible for a Petal card, you must: Eligibility to qualify for and use a Petal card depends on the information you provide during the application process, your credit history, and information maintained in your Petal account (if you have one). Applicants without credit history can get approved for Petal 1 and Petal 2, and pre-approval doesn’t impact your credit score. Sign up bonus. Do I need to have a bank account to use my Petal card? Can I get a Petal card if I live outside of the U.S.? Petal® 2 "Cash Back, No Fees" Visa® Credit Card Quick Summary: This card is intended for consumers, or "personal use" with a limited or short credit history. If you’d like to see if you’re likely to be approved for a Petal card without impacting your credit score, you can fill out the pre-approval application. Can I apply for a Petal card again if I’m not approved. The Federal Trade Commission provides 2 options to opt-out of getting pre-approved offers: To opt-out of pre-approved credit card offers for 5 years, you can call toll-free 1-888-5-OPT-OUT (1-888-567-8688) or visit optoutprescreen.com. A pre-approval is good news—it means you’ve met the initial criteria for. If you’d like to see if you’re likely to be approved for a Petal card without impacting your credit score, you can fill out the pre-approval application. I was invited to apply in the mail and I have questions. one, or both, of the Petal cards. Our take: The Petal 2 offers a low entry barrier and the opportunity to earn cash back and avoid fees while building or rebuilding your credit history, but you could face a … Pre-approval does not guarantee an account approval and you must submit a full application for review in order to apply for any offer(s) of credit. If you’re pre-approved for both Petal 1 and 2, you’ll only be able to apply for one of those cards. Short Answer: WebBank backs both store-specific credit cards and general-purpose credit cards. WebBank cards are popular because they often have fast approval processes and are typically available to those with less-than-ideal credit. For a limited time, Petal is offering sign-up bonuses for each card. Cardholders will earn 2% to 10% cash back at select merchants. If you’re pre-approved for both Petal 1 and 2, you’ll only be able to apply for one of those cards. Can we both apply. If you’re pre-approved for both Petal 1 and 2, you’ll only be able to apply for one of those cards. Keep in mind that the content on our FAQ and Help Center was created to The Petal credit card is issued by WebBank, Member FDIC. Pre-approval does not guarantee an account approval and you must submit a full application for review in order to apply for any offer (s) of credit. If you are choosing between several cards, applying for preapproval can help you avoid excessive hard pulls of your credit. I share a bank account with someone else. The Petal® 2 Visa® Credit Card is one of the best starter credit cards available to people with limited or no credit. Petal® 2 "Cash Back, No Fees" Visa® Credit Card Disclosure: All Petal Card holders begin with 1% cash back on all eligible purchases. Petal 1 and Petal 2 Visa Credit Card benefits and perks. After this, Petal will let you know if you're pre-approved for its Petal® 2 "Cash Back, No Fees" Visa® Credit Card, which gives you a sense of your eligibility without dinging your credit. Their cash back percentage increases to 1.25% after a total of 6 on-time monthly payments and increases to 1.50% after a total of 12 on-time monthly payments. Based on this information, you may not receive a card if you do not meet previously established credit criteria. The Petal 2 has a much higher upper credit limit than most starter cards. For the Petal 1 Visa card, you’ll earn $25 on approval. Petal has launched a brand-new card today as well as refreshed their existing offering. Earn 1% cash back on eligible purchases right away, and between 2% to 10% cash back from select merchants: Regular purchase APR: variable aprs between 19.99 - 29.49 advice, or indicate the availability of any product or service. They actually look at your banks actions to determine approval/decline not just credit score. There are some instances where you may be pre-approved, but fail to qualify after submitting your application. I was Pre-Approved. Editor's Rating: 4.8 out of 5.

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