Connecting your checking, savings, and credit accounts shows us how you make, save and spend money and whether you are a good fit for Petal. The more accounts you connect, the better overview we have of your finances, which helps us make better credit approval decisions. We use sophisticated algorithms to do this analysis, and in most cases, we can give you a decision in just a few seconds. Also, if you’re approved for Petal, you’ll be able to view the balances of your connected accounts in your Petal dashboard. This lets you view your money in one place, so making informed and responsible decisions when using Petal is as easy as possible.
When you enter your account credentials, Petal uses a 3rd party data provider to securely access your financial records. Petal never stores your login credentials and only maintains the account connection through the 3rd party data provider.
If you did not complete your application or were not approved, Petal removes the connection to your bank accounts immediately. We are legally required to keep all applications and supporting materials on file for 25 months, so we cannot delete your application as a whole; however, your bank connection to our third party data provider is deleted immediately.