petal credit card

Petal Credit Card Pros and Cons

The Petal 2 No Annual Fee Visa Credit Cards from American Express is starting to look like the new Visa and MasterCard. But they are not like the Visa and MasterCard, which have much better rewards programs. They are actually like the old days cards, only a little different. But if you have bad credit, or are in financial trouble you should definitely think about this new credit card from American Express.

One of the biggest differences is the credit card fees. The Petal 1 has no annual transaction fee while the Petal 2 has an international transaction fee. This international transaction fee really sucks when you are trying to pay overseas. There are many cases of people being stuck with extra money on their hands because they paid the foreign transaction fee.

However, American Express has made things a lot easier by teaming up with the three major credit card companies. By combining the Petals with the other two American Express credit cards, you get the American Express Platinum Card and American Express Gold Card. With these cards you get the benefit of the no annual fee, low credit limits, and five percent cash back bonus from American Express. On top of that, you also earn three percent cash back for just about everything you buy using these cards. With these cards you can basically build your credit history over time, with very low risk, since you will only pay the one-time, standard transaction fee.

Then there are the cons. Like any credit card, the Petals comes with fees and costs. There are the regular interest charges, the late fees, the maintenance fees, and other fees and costs that come with using the Petals. So lets go over them to see exactly what American Express includes in their deal.

The first thing that American Express includes is the credit card’s ability to offset your purchases with the balance of your checking account. It is actually an excellent offer to have. If you have a decent to good non-prime credit score, you should be able to qualify for this. You would then be able to pay off the outstanding amount on time each month.

Another pro is that they do not include fees that apply if you pay your bills late. They only charge a one time, flat fee for this, and you do not have to pay any late fees, if you pay on time each month. This can save you quite a bit of money each month. This alone can earn you a good amount of savings on your balance transfer statement. The best thing about the no annual fee visa cardholders are that you also get a free credit report each year with every statement credit.

American Express does have some good petal credit card pros. They give you the benefit of no annual fee, and they give you the benefit of making travel arrangements through American Express. The only pro that American Express does not have is that they do not include gas in your traveling expenses when you use their card. That means you must find money in your pocket to pay for your trip. Another con American Express has been that it allows you to make purchases within the United States and charges much higher interest rates than its non-prime competitors do. That means that you could end up paying more than you need to in interest charges over the years.

If you use your card to make on-time payments and to pay off your balance each month, American Express will likely be a great choice for your purchase needs. And, if you take advantage of any other specials they may have gone, you can really build good credit by using this credit card. However, keep in mind that you will probably pay more for this card because you are a little older and may have a limited credit history to speak of. But, with time and patience, you can learn how to use this card to the best of your advantage.