Petal 1 Credit Card to Add $8 Monthly Fee for Some Holders

The Petal® 1 “No Annual Fee” Visa® Credit Card — a product designed for those with less-than-perfect credit or low cash flow — plans to add a monthly fee for select cardholders, which will diminish its utility among those customers.

Here’s an overview of the changes to come.

What’s changing

NerdWallet rating 

NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card’s rates, fees, rewards and other features.

Learn More

The following terms will go into effect in July 2023:

A monthly membership fee will apply for select existing cardholders. Current cardholders who were notified by Petal will have to pay an $8 monthly membership fee ($96 annually) to keep the card. All other cardholders will continue to pay a $0 annual fee. Petal says this change won’t impact new applicants for the Petal® 1 “No Annual Fee” Visa® Credit Card, although the company…

Continue Reading →

This article was written by Melissa Lambarena and originally published on