If you've got a Petal card, you've got the opportunity to earn cash back. But depending on whether you have Petal 1 Rise, Petal 1, or Petal 2, the ways you can earn cash back are a bit different. Check out some of the FAQs below and read through the Petal Perks Program Rules for more details.
Earning cash back
Petal 1/Petal 1 Rise
If you have Petal 1 or Petal 1 Rise, you can earn cash back with Merchant Offers (aka Offers). Offers are automatically loaded to your Petal account. When you make a purchase with a merchant that meets the requirements listed in the Offer terms, you’ll earn cash back based on your purchase. Cash back earned from offers will typically be added to your Cash Back Wallet the following billing cycle.
Petal 2
If you have Petal 2, you can earn cash back with Petal Rewards in addition to Offers. Just make eligible purchases using your Petal card and a percentage of what you spend is automatically deposited into your Cash Back Wallet the following billing cycle.
Earning cash back with Rewards. Just make eligible purchases using your Petal card and a percentage of what you spend is automatically deposited into your Cash Back Wallet the following billing cycle.
Earning cash back with Offers. Merchant Offers are automatically loaded to your Petal account. When you make a purchase with a merchant that meets the requirements listed in the Offer terms, you’ll earn cash back based on your purchase. Cash back earned from offers will typically be added to your Cash Back Wallet the following billing cycle.
Can I earn cash back from Rewards and Offers on the same transaction?
Yes! With Merchant Offers, you’ll earn cash back when you make a qualifying purchase with a participating merchant. For all eligible purchases you make, you will continue to earn cash back Rewards—that means you can earn cash back from an Offer and earn separate cash back Rewards on the same purchase.
How do the cash back Reward tiers work?
For Rewards, the percentage tier of cash back you’ve unlocked depends on your payment habits. Once you activate your Petal 2 card, you’ll earn 1% cash back on eligible purchases right away. After you make 6 on-time monthly payments, you’ll start earning 1.25% cash back. If you keep it up and make 12 on-time monthly payments, you’ll start earning 1.5% cash back.
What happens to my cash back status if I don’t have a minimum payment due?
If you don’t have a minimum payment due because you did not make any purchases with your card the previous month, it won’t affect your cash back status.
For example, if you’ve made four on-time payments from January to April, but you don’t have a minimum payment for May, you won’t lose credit for the past four months of on-time payments, but May’s payment just won’t be counted as an on-time payment.
Redeeming cash back
How do I redeem cash back?
You can redeem the cash back in your Cash Back Wallet as a statement credit up to the amount of your current balance. If the amount of Cash Back you’d like to redeem is over 20 dollars, you can also redeem it by giving us a call and requesting a check or an ACH transfer to your bank account.
To redeem cash back as a statement credit, head over to the Perks page of your Petal account and click 'redeem.' On the next screen, you’ll be able to enter the amount of cash back you’d like to redeem. Just swipe to confirm. It will be labeled as ‘Cash Back Credit’ on your statement for the billing period in which you’ve redeemed it and will show up on your Petal account activity feed.
When can I redeem the cash back I’ve earned?
You can redeem the cash back you earn from both Rewards and Offers after it becomes available in your Cash Back Wallet. You can redeem cash back as a statement credit up to the amount of your current balance, or you can request a check or an ACH transfer to your bank account if the redemption amount is $20 or more.
How can I keep track of my cash back activity?
Petal makes it super simple to keep tabs on your cash back activity. If you head to the Perks page of your Petal account, you’ll be able to see your:
- Lifetime Cash Back - how much cash back you’ve earned in total.
- Cash Back Wallet - how much cash back you can redeem right now.
- Pending Cashback - this feature illustrates when the cash back you’ve earned is available to be redeemed.
- Active cash back rewards - the percentage of cash back you’re currently earning on purchases (Petal 2 only).
Who is eligible to earn cash back?
All Petal members who are in good standing are eligible to earn cash back. You’ll be automatically enrolled in Offers if you have Petal 1 or Petal 1 Rise, or both Offers and Rewards if you have Petal 2.
Cash Back Offers (Petal 1/Rise & Petal 2)
How do I earn cash back with Offers?
You can earn cash back with Merchant Offers with all Petal products. Merchant Offers are automatically loaded to your Petal account. When you make a purchase with a merchant that meets the requirements listed in the Offer terms, you’ll earn cash back based on your purchase. Cash back earned from offers will typically be added to your Cash Back Wallet the following billing cycle.
Do I need to do anything at check out to earn cash back on an Offer?
You’ll automatically earn cash back when you make an eligible purchase with a participating merchant. All you need to do is make a purchase as you normally would and check out with your Petal card.
Can I earn cash back on an Offer by using contactless payments or chip readers?
Yes - Payments using chip readers, contactless payments, and digital wallets work the same way as swiping your card.