Pros

No Fees: The Petal® 2 "Cash Back, No Fees" Visa® Credit Card charges no annual fee, foreign transaction fees, or late payment fees.

Cashback Rewards: Cardholders earn 1% cash back on all purchases, with the potential to increase to 1.5% after 12 on-time monthly payments.

Credit Building: This card reports to all three major credit bureaus, supporting users in building or improving their credit scores.

No Security Deposit Required: Unlike some other credit-building cards, the Petal 2 does not require a security deposit.

Cons

Variable Rewards: The cashback rate increases to 1.5% only after 12 on-time monthly payments, which might be a slow progress for some users.

Limited Perks: The card does not offer extensive perks and benefits compared to other options in the market.

No Introductory APR: There's no introductory APR on purchases or balance transfers.

High Regular APR: The card's variable APR ranges from 17.74% to 31.74%, which can be costly if cardholders carry a balance.

Why Choose It

The Petal® 2 "Cash Back, No Fees" Visa® Credit Card is an excellent option for individuals seeking to build or improve their credit while enjoying a simple, no-fee structure. With no annual or foreign transaction fees, the card is a cost-effective choice for users. The cashback rewards, though variable, add extra value to the card, and its focus on credit building makes it attractive for those wanting to improve their credit scores. While the card may lack extensive perks and benefits and has a high regular APR, its core focus on credit-building and the absence of fees make it a solid choice for individuals prioritizing a simple, no-frills credit card experience.