Company

Financial opportunity begins with credit access.

Petal is now an Empower company

Petal was created to help people access credit. As a part of the Empower family, we can now deliver on this mission at greater scale. New to credit or have had missteps in the past? Your day-to-day savings and spending data can help show you're ready for credit, even if your credit score isn't quite there yet.

Why does a credit score matter?

The strength of a credit score (the traditional measure of creditworthiness) can be the deciding factor when applying for any major line of credit, including a mortgage, car loan, credit card, and more. On top of determining approval, a credit score can also influence the interest rates and repayment terms a lender may offer.

How does a CashScore help?

A CashScore, unlike a credit score, can consider a much wider financial picture using applicants’ banking history. This allows even more people to qualify for credit, including those totally new to credit.

CashScore is the new credit score. Apply now. →

How do we make money?

The Petal card program makes money primarily from 3 things.

Interest.*

This is the annual percentage rate (APR) members incur if they don't pay their full statement balance each month on time.

Merchant interchange.

In order to accept credit payments, merchants pay a fee on every Petal card transaction.

Card fees.*

Petal may charge certain fees on its Petal 1 and Petal 1 Rise cards. See our cardholder agreements for more info.

*Petal 1 family cardmembers may be assessed late payment fees up to $40 and returned payment fees up to $29, if incurred. Petal 1 Rise annual fee is $59. Petal 1 Rise variable APR ranges 28.99% – 33.99%. Petal 1 variable APR ranges 28.99% – 33.99%. Petal 2 variable APR ranges 28.99% – 30.99%. Card fees and terms may vary for members acquired prior to May 16, 2023.

How do you build credit with Petal?

Petal cards are designed to help members financially succeed. Your account is reported to the major bureaus so, with responsible credit use and on-time payments, members can grow their credit.

Why do some Petal cards charge fees?

The goal is to make credit as affordable and accessible as possible. There are times when fees help provide access to credit. Petal believes transparency empowers members to do more with their credit and this includes being upfront about fees.