What do you do with my bank information?

With Petal, more than just your credit score can be used to give you credit. We built a unique, safe technology that can help increase approval chances for those with limited or no credit history by looking at banking activity to help millions like you.

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. The information from the bank accounts you link is used to try to approve you based on your cash flow (that is, the money to spend and the bills you pay). Keep in mind that linking your main bank account, the one where you receive your income, will give a more complete picture.

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)

For more information about Plaid, feel free to check out their privacy policy here.

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