Our team spent a lot of time on Reddit learning about the Petal Visa credit card. By combining traditional research with Reddit commentary about Petal’s Visa card, we are able to provide many educated opinions at once to help you make the best purchase decision.
There’s a lot of buzz about Petal on Reddit. Users in the main credit card subreddits won’t stop talking about the credit card. Petal credit card Reddit posts broach various topics, including things like credit score limits, how to apply, annual and hidden fees, and more.
In this post, we’ll share our favorite Petal Visa Reddit posts to find out what makes the card special.
Petal Credit Card & Reddit: High-Level Overview
According to Reddit and Petal’s site, the Petal Visa card is one of the best, most reliable credit cards for beginners with little to no credit history. Its credit limit options vary from $500 to $10,000 with no annual or hidden fee. Despite the relatively low credit score barrier to qualify for the Petal Visa card, you wouldn’t have to put down a hefty security deposit to secure it. The card comes with auto-rental insurance and an excellent 1.5% cash back incentive on your combined purchases.
No security deposit or strong credit history requirements – what’s the catch? Well, we’ll explore all the pros and cons below. Despite some inevitable downsides, Petal is a top-tier credit card choice for beginners who need a credit limit that is on the higher end. The company believes in people, not credit scores, and takes a more holistic view of its users.
Let’s dig into the Petal Visa credit card’s pros and cons and see what Reddit users think about it.
Pros & Cons: Petal Visa Credit Card Reddit Comments
Reviews of the Petal Credit Card on Reddit are mostly positive, with most users giving it high marks for its cash back rewards, lack of hidden fees, and customer service. But despite all this positivity on Reddit, it’s important to know all the downsides and terms before determining whether Petal is the right card for you. Some users have genuine complaints, like Petal’s high APR rate.
Below, we’ll walk you through all the pros and cons you need to know about the Petal Visa credit card.
Pros: Why Reddit Users Love the Petal Credit Card
- Great starter card for building credit
- No hidden or annual fees
- Great 1.5% cash back reward on purchases over time
- Generous credit limits – a rare feature in starter cards
- Added benefits like auto rental insurance and emergency roadside dispatch
Let’s expand on the pointers above to make sure you are well-informed on each one. We’ll also share our favorite Reddit commentary on each of the pros below.
Great For Low- or No Credit
People who are just beginning their credit-building journey, like young adults and recent graduates, love the Petal Visa credit card. Reddit discussions highlight this core userbase as well.
This user had their 18-year-old daughter apply for the card and is happy with everything so far:
This Reddit user is well-informed about Petal and considered applying. Although they didn’t end up applying, they confirm Petal works well for no-credit newbies and that people looking to build their credit should “definitely apply”. They also confirm that applying to Petal does not create a hard pull on your credit:
Here’s another Redditor who feels very positively about the Petal card. Not only do they discuss how great it is for people with little or no credit history, but they also suggest a few other bonus perks: (1) the card looks clean and cool with its vertical orientation, and (2) the Petal app is easy to use and sleek:
Great Cash Back Incentives
Cards tailored out for beginners or those with depleted credit scores rarely offer any cash back rewards, which is a sore spot with Reddit users. Petal changed this industry standard by offering tier-based cash back rewards that make sure you’re cutting a good deal for yourself with every purchase.
For the first few months, you get 1% cash back on every purchase from the card. This increases to 1.25% once you make six consecutive on-time monthly payments. After a year of timely payments, the cash back hikes up to 1.5% of each purchase. With no fee and consistent cash back, Petal makes for a no-brainer credit card choice. Even though there are some cards that beat this cash back %, Petal’s cash back bonus gets good marks from Reddit users considering it’s a beginner option:
High Credit Limit
Credit limits are quite low on most starter credit cards – usually between $300 and $1000. This is true even for the starter cards with a significant security deposit.
According to Reddit users, Petal challenges that standard with credit limits ranging from $500 all the way to $10,000 on the highest end with no security deposit. Although it’s tough to score a $10,000 credit limit at your first application, odds aren’t so bad. Even as a starter card, Petal’s credit limits match favorably with higher-end credit cards that require a very strong credit history.
In one Reddit thread, the OP asks how long it takes to get approved by Petal and what their typical credit limits look like. Reddit user Sodaman20 leans in and provides some very helpful information about credit limits, approval time, and more:
When it comes to their credit limits, Petal gets a tidal wave of positive feedback from Reddit.
No Hidden or Annual Fees
Reddit users point out that traditional credit cards are infamous for their fee structure – you get charged for everything from late payments and making foreign transactions to just adding other authorized users. These fees can add up to hundreds of dollars a year you can’t get out of paying to the card company.
Petal recognized this issue in starter cards and introduced a new, zero-fee concept in its new Visa card. Fee-loaded competitors like First Premier Mastercard don’t stand a chance against Petal.
Those were our top pros of the Petal card. It’s clear that Reddit loves a lot of things about this beginner card, including zero fees, generous credit limits, and cash back. If you’re interested in applying, you can do so here!
Cons: Reddit User Complaints About the Petal Card
To be 100% honest, there aren’t many complaints about the Petal Card on Reddit. After combing through the Personal Finance and Credit Cards Subreddits, we were able to scratch these two cons together:
- Moderately Difficult to Qualify
- Higher Annual Percentage Rate (APR)
Can Be Hard to Qualify
Petal goes beyond the credit score when evaluating applicants. Petal’s algorithms sift through data points like your banking transactions to analyze your merit as an applicant, rather than depending 100% on credit.
There are some credit cards out there that anyone can get approved for, but these always have disappointing rewards and benefits. Compared to low-quality cards for people with damaged credit history, Petal is a little bit tougher. Reddit users report that it’s tough to get through Petal’s algorithms if you have a history of missed payments or bankruptcy. Even if you have a decent credit history, a loophole or small demerit in the application can become grounds for rejection.
At the end of the day, if you are smart about your spending, don’t overdraft, and keep a minimum balance, you should get approved.
The APR, or Annual Percentage Rate, is the yearly interest rate you pay on outstanding balances. Reddit users point out that the APR on Petal’s Visa Credit Card ranges from 12.99% to 29.49% (variable).
This is definitely a high APR, but keep in mind two things:
- With consistent on-time payments, you can lower your APR
- Your APR only matters if you’re not paying off your credit card bill each month
This Redditor offers some great feedback when a user asks about Petal’s high APRs:
At the end of the day, he says, you shouldn’t get a credit card if you don’t expect to pay it off each month. As long as you take a responsible approach, Petal’s high APR rate shouldn’t scare you away.
To round up the pros and cons:
Reddit users feel Petal is an above-average card choice for young adults and people who haven’t built up solid credit yet but have more expenses lined up in the coming years.
Petal doesn’t require you to put down a security deposit and offers generous credit limits (up to $10,000). This is higher than almost any beginner credit card out there, and even better than some intermediate/advanced cards.
However, Petal’s Visa may not be the right choice for Reddit users who have a damaged credit history. Redditors called out poor banking habits as a risk factor for failing to pass Petal’s screening.
Petal Visa Card’s Cash Back Rewards
Now that we’ve laid out all of the pros and cons of the Petal credit card, let’s double click on the cash back rewards offered.
Petal has fixed cash back terms laid out for all its cardholders. You get a percentage of the total amount your spend on each purchase for groceries, dinners, or window shopping. These terms are:
- Earn 1% cash back on all purchases made with the Petal Visa Card for the first six months of issuing
- Increase to 1.25% after six months of timely payments every month
- Increase further to 1.5% after 12 months of on-time card payments
Petal partners up with merchants to bring you offers that go up to 10% cash back. According to Petal Visa Card Reddit users, Petal is constantly rolling out special offers for even better opportunities to earn cash back.
How To Redeem Cash Back Rewards
How do Reddit users redeem their Petal Visa cash back? There are multiple different ways for users to claim their cash back rewards:
- Log onto Petal’s website or app to request your cash back in the form of a statement credit.
- Call Petal’s helpful customer service reps at 855-697-3825 to request a check ($20 minimum).
Petal customers on Reddit suggest going with option #1 – redeeming online. This is the fastest way to get paid as your rewards get applied to your credit card balance. Additionally, there is no minimum for claiming your rewards this way (versus a $20 minimum for requesting a check).
How To Maximize Your Petal Visa Credits
Reddit users say that the best way to maximize your Petal Visa credits is — you guessed it — to make purchases with it. Want to put your savings into overdrive? Every week, check Petal’s “new offers” in their app to find partner merchants who are offering up to 10% back!
Let’s break down the average American’s annual spending habits to see how much cash back you can get with Petal:
- Food (groceries, dining out, etc): $7,933
- Gas: $2,109
- Clothing and Personal Care: $2,634
- Entertainment: $3,226
This totals $15,902 a year in expenses, excluding miscellany like medical treatment, auto care, etc. If you’ve made timely card payments for 12 months, you’ll have graduated to the 1.5% cash back benefit for all purchases. That means one year of spending will result in $238.53 in cash back rewards! Note that partner merchant offers of up to 10% back could push that number even higher.
Does the Petal Visa Card Have Additional Benefits?
There are many unforeseen situations in life that can cost people a lot of money. Luckily, Petal has you covered for a few of those.
Reddit users say that Petal offers some great additional benefits on top of their cash back offer. Below, we’ll share each of these benefits in greater detail.
Emergency Roadside Dispatch
If you get a flat tire or your car battery dies in the middle of nowhere, calling someone to come fetch you can be expensive and time-consuming. This kind of situation can be a real drain on your finances, but Petal backs you up here. They offer 24/7 access to roadside dispatch through their helpline. You may be billed for this service later on, but the company doesn’t charge you an additional fee.
If you’ve ever rented a car and had someone side-swipe you, or perhaps you parked and came back to see your bumper got dinged, you know how expensive that can be. Petal’s starter card covers you with generous damage collision waivers when you rent a car. This is free and saves you a lot of money versus buying insurance through a car rental company!
Other Standard Benefits
Emergency card replacement, emergency cash advance, etc.
Customer Service and Security
Despite being new to the market and up against giants like Chase and Barclays, Redditors say Petal provides excellent customer service.
They have an elaborate FAQ section addressing all your questions about getting started and managing the card. It’s a breeze to get in touch with their customer service team, available via call or email round the clock seven days a week.
We think Petal’s security features are top-tier. Zero-liability protection and accurate fraud alerts keep you from falling victim to the many cyberattacks prevalent today. Check them out today!
Frequently Asked Questions 🤔
💻 Where can I find Petal card discussions on Reddit?
Reddit can be a tough site to use if you haven’t seen it before. The website is broken up into lots of sub-boards called “Subreddits”, which cover topics ranging from personal finance, to memes, to travel, and more. There’s no shortage of credit card-related Subreddits on the site where users talk about the best credit cards for beginners, “churning” cards, credit card benefits, and more. Indeed, there are hundreds, if not thousands of new posts every day covering credit cards and even Petal more specifically.
Below, we’ve prepared a list of some subreddits where you can find Redditors discussing Petal:
📝 Where do I sign up for Petal?
Redditors say that signing up for a Petal Credit Card is relatively pain-free. You can sign up using this link.
🏫 What are the card’s minimum requirements for eligibility?
According to the Petal card’s website, there are some basic requirements for approval eligibility:
- Must have a valid SSN or TIN
- Must have an email address
- Must have a working US-based phone number
- Must be 18+ (or 19+ in Nebraska and Alabama)
- Must be a permanent resident of the United States
💵 How much does it cost?
The Petal card and its app are 100% free for all users, granted you have qualified and signed up to use it.
💸 How does Petal’s cash back compare to other cards?
Petal’s 1.5% cash back is very strong for a beginner credit card. This cash back rate matches the CapitalOne Quicksilver 1.5% offer.
However, if you are only interested in cash back and nothing else, the Discover IT card might be a better option at 5% back.
👋 Does Petal offer any sign-up bonuses?
There is no sign-up bonus for Petal. As a starter card and Reddit’s favorite credit card “newbies”, they do not offer any incentives to sign up. To be honest, they probably can’t afford it given the generous terms on their cards.
If you are looking to churn cards, you shouldn’t choose Petal.
📈 How popular is Petal among Redditors?
We have collated the data to understand how many Reddit mentions of Petal (specifically, “Petal Credit”) there are per year. Below, please find our chart showing some exciting growth for the up-and-coming beginner card:
In 2019, there were 51 mentions of the query “Petal Card” on Reddit. There are 40 mentions already in 2020 at time of writing (August 2020), indicating that the number of mentions will grow significantly year over year!
❓What is Reddit?
Reddit is a social web board where people post various forms of media (text, images, videos, etc). These posts are “upvoted” or “downvoted” by users. This democratized voting process helps Reddit choose which posts to show you.
The website is organized into “Subreddits”, which are basically topic-specific boards that users can post in. These “subreddits” are moderated by users rather than site admins, which gives it more of a “by the users, for the users” feel.
On Reddit, you can find discussions about everything — from tech, to news, to sports, to web hosting, and beyond. All of these discussions are user-driven, so keep in mind that you may find posts you don’t agree with. As a company, Reddit appears to value all points of view – and that’s exactly how it should be!
The Bottom Line
Petal’s starter card is best for people with little to no credit history looking for a high-ceiling option to cover future expenses. Since the company doesn’t charge any unnecessary fees, the 1.5% cash back you accumulate can go directly to reducing your monthly bills.
Redditors love that it comes with great security, a 24-hour helpline, and emergency benefits that have your back when it counts the most. If you have little to no credit history but still want a top card with no security deposit and cash back, Petal’s credit card could be an excellent choice for you.