Petal: A Fintech Revolutionizing Credit Accessibility

Petal, a financial technology company, leverages modern technology to democratize financial opportunities. Its mission is to empower 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 to broaden credit access, even for those with no prior credit history.

Petal offers two credit cards:

• Petal 1: Ideal for credit-building, this card boasts no annual fee and credit limits ranging from $300 to $5,000. Note that late and bounced payment fees apply.

• Petal 2: Petal's premium offering, this cashback card is entirely fee-free (no annual fee, late payment fee, or foreign transaction fees). Credit limits also range from $300 upwards.

Both cards provide attractive cashback rewards, offering 2%-10% back on purchases from numerous top brands and local businesses.

The Petal app enhances user control over their finances, providing features such as:

• Credit score tracking
• Budget setting
• Subscription management
• Consolidated account viewing

Key advantages of Petal include:

• Enhanced Credit Accessibility: Petal's advanced technology expands credit opportunities beyond traditional credit score limitations.
• Credit Building Support: Petal 1 is specifically designed to help users build their credit scores.
• Fee-Free Cashback: Petal 2 offers the benefits of cashback without any associated fees.
• Generous Cashback Rewards: Both cards offer significant cashback percentages from a wide array of merchants.
• Comprehensive Financial Management: The Petal app provides tools for effective budgeting and financial oversight.
• Credit Bureau Reporting: Petal reports to all three major credit bureaus.

Petal's innovative technology also contributes to lower variable APR rates.