With Petal, more than just your credit score can be used to give you credit. If you’re new to credit, we may ask you to link your bank account during the application to provide a better understanding of your full financial picture by creating a Cash Score.
When you link your bank account, our unique technology analyzes your transaction level information, like the bills you pay and the money you make, to create a Cash Score. Your Cash Score is then used alongside your credit score (if you have one) in your application decision. Make sure to link the account where you receive your income—this will allow us to generate the most accurate Cash Score.
Worried about security?
We get it, and we’re here to help break it down.
- Security of your personal information and data are top priorities at Petal
- We use Plaid, a third party data provider, to securely link your accounts (we’ve done this over 500,000 times!)
- Petal has read-only access to the accounts you link and we never store your login credentials
- If you decide not to link your account, your application will eventually be declined (don’t worry—it won’t affect your credit score)