If you've got a Petal card, you've got the opportunity to earn cash back on your purchases with the Petal Perks Program. Check out some of the FAQs below for more details:
How do I earn cash back?
Getting cash back with the Petal Perks Program is super easy! Just make purchases using your Petal card and a percentage of what you spend is automatically deposited into the Available cash back section of your Petal account the following billing cycle. As soon as it hits your Available cash back, you can redeem it.
How much cash back can I earn?
There is no limit to the amount of cash back you can earn! The percentage tier of cash back you get depends on your payment habits. Once you activate your card, you’ll earn 1% cash back on purchases. After you make 6 on-time payments, you’ll start earning 1.25% cash back. If you keep it up and make 12 on-time payments, you’ll start earning 1.5% cash back.
When can I redeem the cash back I’ve earned?
You can redeem the cash back you earn as soon as it’s visible in the Available cash back feature of your Petal account the following month.
For example, if you earn $25 cash back during the May billing cycle, it should show up in the Available cash back section of your Petal account 7 days after the start of your June billing cycle. As soon as it’s visible in the Available cash back section of your Petal account, you can redeem your cash back for a statement credit or request that we send you a check.
How do I redeem the cash back I’ve earned?
You can redeem cash back as either a statement credit up to the amount of your current balance or via check (if it’s over 20 dollars).
To redeem cash back as a statement credit, just head over to the Perks section of your Petal account. If you have any available cash back, you can click “redeem.” On the next screen, you’ll be able to enter the amount of cash back you’d like to redeem—you can redeem either a portion of your available cash back, or you can redeem all of it. Just swipe to confirm!
The cash back you redeem 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.
If you’d like us to send you a check instead, give us a call at 1-855-697-3825 and we’ll mail one to the address associated with your account.
What happens to my cash back status if I don’t have a minimum payment due?
If you don’t have a minimum payment that is due because you did not make any purchases with your Petal 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.
Does the cash back that I’ve earned ever expire?
As long as you Petal account is open and in good standing, the cash back you earn won’t expire! However, if your account is closed or is not in good standing for any reason, you may lose any cash back that hasn’t been redeemed.
What happens to the cash back I’ve earned if my account is closed?
If your Petal account is closed for any reason, you’ll lose any cash back you haven’t redeemed. If your account is suspended, you won’t be able to redeem or earn additional cash back until your account returns to good standing.
Can I use the cash back I redeem towards my minimum payment?
No—cash back credits don’t count as a payment. When you redeem the cash back you’ve earned, a cash back credit will be applied to your Statement Balance. Since cash back credits don’t count as payments, you’ll still have to make a minimum payment.
What happens if I return something that I earned cash back on?
If you earn cash back on a purchase and then return it for a refund, the cash back you earned will be deducted from your total Available cash back. If you end up with a negative Available cash back balance, you won’t be able to redeem cash back until your balance is positive again.
Are there any transactions that won’t get me cash back?
You can get cash back on most of your purchases, but there are a few types of transactions that don’t qualify for cash back, such as:
- wire transfers or similar cash-like transactions
- fraudulent charges
- prepaid or gift cards
- person-to-person payments (like Venmo)
For the full list of ineligible purchases, please see the Perks Program Agreement.
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 tab of your Petal account, you’ll be able to see your cash back “Status” (the percentage of cash back you’re earning), your “Lifetime cash back” (how much cash back you’ve earned in total), and the “Available cash back” (the amount of cash back you’ve earned that you can now redeem) all in one place.