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Petal Launches No-Fee Credit Card for People without Credit

Today, Petal publicly launched its credit card for people without credit. The Petal Card has no late fees, overdraft fees, annual fees or “any-other-kind-of-fee, fee.” Petal takes a unique approach to account approval. Instead of using a person’s credit score or credit history, Petal looks at an applicant’s bank account and monthly payments. This determines the

Top Features : No annual fee; access to higher credit line after making first 5 monthly payments on time
Top Features : Perfect credit not required; Reports to major credit bureaus
Top Features : Reports to Consumer Reporting Agencies; quarterly FICO Score provided free on monthly statement
Top Features : Reports to Consumer Reporting Agencies; quarterly FICO Score provided free on monthly statement
Top Features : No late fees or interest charges; NetSpend Mobile App to manage account, and get text message or email alerts
Top Features : Reports to major credit bureaus; fast application process with response in seconds; checking account required