About Settlement Offers


What is a settlement offer?

A settlement offer is a Petal card program that can help you pay off your outstanding Petal card debt for less than what you owe.

What happens if I take this settlement offer?

Fulfilling the terms of the settlement offer will waive your remaining balance and close your account. This will report to the credit bureaus as “closed at customer request.” (Your account status will NOT be reported as "closed at creditors request", which is what happens when members don't pay their bill for an extended period and ultimately the credit issuer closes their account).

How do I accept this settlement offer?

Simply give us a call at 1-855-941-0018, email us at desk@petalcard.com, or reply to this email to schedule your settlement offer.

Do I have to pay the full settlement offer amount at one time?

Depending on how many days past due your account is currently, you may be eligible for a payment plan. Speak with a Petal agent by calling 1-855-941-0018 to learn more about your payment plan options.


Will this hurt my credit score?

Closing any line of credit does have the potential to impact your credit score by altering your utilization ratio and credit account history length. But by accepting a settlement offer, your account will close in good standing.


What if I choose not to accept this settlement offer?

If you choose to not accept this settlement offer, your Petal card debt will continue to accrue interest and late fees as normal. You will remain responsible for paying at least the minimum due until this balance is paid in full.



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