Are you an international student, looking to make the most of your first year in the United States? We’ve got you covered. Let’s dive into the differences between Petal 1 and Petal 2 and which one might work best for your unique experience in the US as a foreign-born student.
With a vast array of credit cards available in the American market, it’s not surprising that international students often have difficulty choosing the best card for their specific needs. However, Petal 1 and Petal 2 stand out from the pack, particularly for their appeal to young and credit-inexperienced Americans as well as foreign students.
What is Petal?
Petal is a credit card company that has gained a lot of attention in recent years, particularly due to their innovative approach to credit scoring. Petal’s unique scoring system goes beyond the standard credit score, taking into account factors such as income, savings, and spending habits to provide a more accurate and comprehensive evaluation of a cardholder’s creditworthiness. This makes Petal cards a popular choice among younger and less experienced credit users, including international students.
Petal 1: The Starter Card
Petal 1 is designed explicitly for young and low-credit individuals looking to build up their credit history. These cards come with no annual fees, an APY between 19.99% and 29.49%, and a credit limit between $500 and $5,000. The card also offers cash back rewards ranging from 1% to 1.5%.
For international students in the US, Petal 1 is an excellent choice because it tends to be more accessible than some other credit cards. Since many non-citizens do not have a substantial credit history in their home countries, lenders may not be as willing to extend them credit in the US. Petal, on the other hand, has a unique scoring system that can make approval less daunting.
When used responsibly, Petal 1 can build a credit history for international students in the US. This means that you could potentially be better positioned to obtain other forms of credit, such as auto loans or mortgages, upon graduation.
Petal 2: The Travel Card
Petal 2, on the other hand, is designed for those who want to capitalize on travel rewards. These cards provide more robust perks, such as 1% cash back on all purchases and 1.5 points (equivalent to $0.015) per $1 spent on all travel expenses. Petal 2 also comes with no annual fees and an APY between 16.80% and 26.74%.
For international students, Petal 2 can be a great choice thanks to its travel rewards features. As a foreign student, you’ll likely want to explore as much of America as possible before your studies conclude, and Petal 2 can help make that a little more affordable. In addition, Petal 2 can help improve your credit score while you enjoy travel benefits, making it a great choice for longer-term foreign students who plan to stay in the US for a few years.
Conclusion
Petal 1 and Petal 2 credit cards can be a great choice for international students in the US. Whether you want to build credit history or enjoy travel rewards, Petal has you covered. For those who are new to credit or have had difficulty obtaining approval due to a lack of credit history, Petal 1 can be an excellent starting point. Meanwhile, for those who are seeking more substantial travel rewards, Petal 2 is a great option.
With a stylish and innovative credit scoring system, Petal might just be the perfect choice for you as an international student in the US. Ask help from a credit counselor to see what credit card might work best for your unique needs.
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