A comparatively new monetary know-how firm, Petal (in partnership with WebBank) is providing Millennials and others with no credit score historical past an opportunity to create credit score. The cardboard guarantees no charges – no overdrafts, delays, worldwide, annual or different charges.

The Petal 2 Visa bank card doesn’t require a credit score historical past to use, however your digital monetary information may be reviewed as a part of the app, and chances are you’ll be prompted to attach your test or financial savings accounts throughout the software course of. When you have a unbroken historical past of bankruptcies or missed funds in your credit score report, you may not be eligible.

Awards: As much as 1.5% money again after making 12 month-to-month funds on time. 1% money again on qualifying purchases instantly. 2% to 10% money again at choose retailers.

Rate of interest: 12.99% – 26.99% (variable) APR

Welcome provide: Nothing

Different benefits or disadvantages: The APR of the Petal 2 bank card is on the excessive finish for a starter card. Since Petal 2 doesn’t cost any charges, it earns cash on the curiosity you might be charged if you happen to carry a stability after the due date and on the service provider charges while you use your card.

The Petal 2 bank card affords money again, with 1% money again on qualifying purchases instantly, as much as 1.5% money again after making 12 month-to-month funds on time and between 2% and 10 % money again at choose retailers. The Petal 2 bank card additionally honors Visa’s native choices by way of its partnership with Visa. In case you use your Petal 2 card for purchases at sure retailers or eating places, it is possible for you to to robotically earn Uber credit. You possibly can learn our full Petal 2 bank card overview right here.