Petal

Petal: A Fintech Revolutionizing Credit Access and Financial Wellness

Petal, a financial technology company, leverages modern technology to democratize financial innovation and opportunity. Its mission is to empower individuals to build credit, manage debt effectively, and practice responsible spending. Unlike traditional credit systems that heavily rely on credit scores, Petal utilizes millions of additional data points, making credit accessible even to 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 range from $300 upwards.

Both cards provide attractive cashback rewards of 2%-10% at various top brands and local businesses (over 500).

The Petal app enhances financial control by offering features such as credit score tracking, budgeting tools, subscription management, and a centralized view of all linked accounts. Importantly, Petal reports to all three major credit bureaus. Petal's advanced technology also contributes to lower variable APR rates.

In summary, Petal's key advantages include:

• Enhanced Credit Access: Broadened eligibility criteria beyond traditional credit scores.
• Credit Building Tools: Petal 1 specifically designed to assist in credit score improvement.
• Fee-Free Cashback: Petal 2 provides cashback rewards without any associated fees.
• Generous Cashback Rewards: Significant savings opportunities through partnerships with numerous brands and local businesses.
• Comprehensive App Functionality: Centralized financial management and tracking capabilities.
• Improved Credit Reporting: Reporting to all three major credit bureaus to build credit history.

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