Everything you need to know about borrowing from Petal Card — our process, eligibility requirements, costs, repayment, and what it means that we are a direct lender.
Petal Card LLC is a direct lender. We are not a loan comparison website, a broker, or a lead-generation platform. When you submit an application on petalcard.us, it arrives directly to our team. We review it, make the lending decision, fund the loan from our own capital, and collect repayment from you. Your application is not shared with, sold to, or forwarded to any other lending company. There is one company involved: Petal Card.
No, applying will not affect your credit score. Petal Card performs a soft credit inquiry only during the application process. A soft inquiry is not visible to other lenders and does not lower your FICO score or your VantageScore. We never perform a hard credit pull without your explicit consent, which we would only request in rare circumstances that we would disclose to you clearly in advance.
Yes. Petal Card does not use a minimum credit score as a pass/fail threshold. Our underwriting model focuses on your current monthly income and whether that income is sufficient to support repayment of the requested loan on the due date. Many of our approved customers have low scores, limited credit histories, or past delinquencies on their file. What matters to us is your present ability to repay, not your past credit history.
Most approved customers whose signed loan agreements are received before 11:00 AM Eastern Time on a business day receive funds the same business day. Agreements signed after that cutoff, or signed on weekends or federal holidays, are typically funded the following business morning. The ACH direct deposit comes directly from Petal Card to your bank account. Your bank's processing schedule may affect when funds become available in your account.
The total cost is a flat finance charge of $15 per $100 borrowed. Borrow $100, repay $115. Borrow $500, repay $575. Borrow $1,000, repay $1,200. Borrow $1,500, repay $1,800. There are no origination fees, no application fees, no monthly service fees, and no prepayment penalties. The finance charge in your loan agreement is the only amount you will ever pay beyond the principal. Use our calculator on the Rates page to see the exact numbers for any amount.
Repayment is automatic via ACH debit on your agreed due date. We will send you an email and SMS reminder three days before. On the due date, the total repayment amount — principal plus the flat finance charge — is debited from the same bank account you provided in your application. Early repayment is free at any time. If you want to repay early, simply call or email us and we will process the repayment immediately with no penalty and no extra charge.
Contact us before your due date — the earlier the better. We can discuss a loan extension, an extended repayment installment plan, or a hardship arrangement, depending on your state of residence and your specific situation. We do not charge undisclosed late fees, we never threaten or use abusive language, and we comply fully with the Fair Debt Collection Practices Act in all collection activity. If you are in financial difficulty, the worst thing to do is ignore us — please call +1 (877) 444-0288 or email support@petalcard.us.
Petal Card offers loans from $100 to $1,500. The amount you qualify for depends on your monthly income, your state of residence, and your borrowing history with Petal Card. First-time borrowers typically qualify for up to $500. Returning borrowers in good standing — meaning your previous Petal Card loans were repaid on time — are eligible for up to $1,500. Your approved amount will be clearly stated in your loan offer.
Yes. All data transmitted between your browser and our servers is encrypted using 256-bit SSL/TLS. Sensitive data stored in our systems — including bank account numbers and Social Security Numbers — is encrypted at rest. We comply with the Gramm-Leach-Bliley Act (GLBA) and have a strict policy of never selling your information to advertisers, data brokers, or marketing companies. Your application data is used by Petal Card to process and service your loan, and for no other purpose.
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