What are the fees, APR, and cash back on the Petal 1 Visa Credit Card?

The Petal 1 card is aimed at a specific gap in the market: people who don't have the credit history needed to clear a traditional card issuer's underwriting bar, but who do have a stable income and spending pattern that a bank-statement-based review can evaluate. Petal, issued by WebBank, carries no annual fee, a variable APR in the 28.24%–33.24% range, and earns 1%–10% cash back at a rotating set of merchants — solidly in line with what other credit-building cards on the market charge, since the tradeoff for accessible underwriting is generally a higher APR than a prime rewards card would carry.

How cash-flow underwriting works

Instead of relying solely on a traditional credit bureau score, Petal lets applicants optionally link a bank account so the issuer can review income, spending, and savings patterns as part of the eligibility decision — a model built for people with a thin credit file or no credit history at all, not just people with damaged credit. Linking a bank account is optional but can improve approval odds for applicants without an established credit history to point to otherwise. As with any credit product marketed to credit-builders, the CFPB's general guidance on reading a card's Schumer Box disclosure before applying — the standardized fee table every card issuer must publish — applies here just as it would to any other card.