Credit with a Conscience

Petal is a new kind of credit card company established to help people build credit, not debt, by providing a credit card with no financial traps, and no prior experience with credit required. You can read more about our pricing at the bottom of the post, but simply put, we’re a credit card company built to help people financially succeed.

Tens of millions of Americans have no credit score at all, and millions more have short credit histories that may not tell the whole story. That’s a problem since building credit is a necessity for many of life’s most important milestones, like buying your first car, starting a small business, or purchasing a home. And bad credit can cost as much as $250,000 over the course of your lifetime (in fees, interest and other charges). (1)

Many of today’s credit systems, products, and services aren’t exactly designed to help these people succeed.Starter cards often come with high interest rates, very low limits, and lots of fees. (2) In fact, the credit card industry rakes in a whopping $50B in fees each year. (3) The hard truth is that many people hoping to build credit, end upbuilding debt instead.

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​Then we thought about ways to use modern technology, and a little bit of common sense, to help more people qualify. And that gave us Petal, a Visa credit card with high limits and low rates that you can qualify for even if you’ve never used credit before.

Our technology helps more people qualify for a credit card, even if they don’t have a credit history.  It’s common sense--we look at the money you make and the bills you already pay to see if you qualify instantly. Petal is designed to give people access where others won't. The card is backed by some of the best partners in the industry, and works anywhere Visa is accepted.

Millions of Americans who are considered ‘credit invisible’ by the big banks will now have the opportunity to build credit responsibly with Petal.
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And it’s not just a new piece of plastic, it’s a new kind of product designed to help you succeed.
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We’ve worked hard to create a radically simplified user interface and mobile app, making it effortless to manage your money, track your spending, and build credit without thinking much about it. We show you all of your accounts in one place, send you timely payment reminders to stay on track, and let you automate payments so you never miss a beat. And before you carry a balance past your due date and pay interest, Petal tells you in actual dollars – not just percentage rates – how much it’s going to cost. You won’t find many other credit cards doing that.

Petal was created because we think it’s about time a credit card company helped people financially succeed.
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Petal is made up of designers, engineers, product people, advocates, and industry vets who know what to do (and what not to do). We’re using better technology to create the most advanced, intuitive, and user-friendly credit cards on the planet, designed, from the ground up, to help you to financially succeed.
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Petal is credit with a conscience.

1.  https://www.businessinsider.com/cost-of-credit-score-over-lifetime-2014-11
2.  https://www.creditkarma.com/credit-cards/no-credit
3.  https://www.fool.com/credit-cards/2017/04/13/this-is-how-credit-card-companies-hauled-in-163-bi.aspx