Petal

Petal: A Fintech Revolutionizing Credit Access and Financial Wellness

Petal, a financial technology company, leverages modern technology to democratize access to financial tools, empowering individuals to build credit, manage debt effectively, and cultivate responsible spending habits. Unlike traditional credit systems that heavily rely on credit scores, Petal utilizes millions of data points for a more inclusive credit assessment, extending opportunities to those with limited or no credit history.

The company offers two credit cards: Petal 1 and Petal 2. Petal 1, ideal for credit-building, boasts no annual fee and credit limits ranging from $300 to $5,000. Petal 2, their premium offering, provides cashback rewards without any fees whatsoever. Both cards feature attractive cashback offers (2%-10%) from numerous top brands and local businesses.

The user-friendly Petal app provides comprehensive financial management tools, including credit score tracking, budgeting features, subscription management, and a centralized view of all linked accounts. Importantly, Petal reports to all three major credit bureaus, and prior credit history isn't a prerequisite for approval.

Key advantages of Petal's services include:

• Enhanced Credit Access: Petal's innovative approach expands credit opportunities beyond traditional credit score limitations.
• Credit Building Support: Petal 1 provides a pathway to improved credit scores without the burden of annual fees.
• Rewarding Cashback: Petal 2 offers generous cashback rewards without hidden fees or charges.
• Fee-Free Banking (Petal 2): Petal 2 stands out with its completely fee-free structure.
• Comprehensive Financial Management: The Petal app streamlines financial tracking and budgeting for enhanced control.
• Transparent Credit Reporting: Petal ensures transparent credit reporting to all three major bureaus.

Note: While Petal 2 is fee-free, Petal 1 does include fees for late and returned payments. Petal's advanced technology also contributes to lower variable APR rates.