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Credit Cards

Petal cardholders can win up to $500 by paying more than their minimum balance

Petal is running a unique promotion for its card members that can pay off your credit card balance up to $500. Here's how to qualify for the offer.

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If you're a Petal card member who's carrying a balance, you're incurring interest charges every month that can add up fast. In order to avoid interest, it's important you pay your bill in full every month — but that's not always possible.

Thankfully, Petal just announced a new promotion where you can qualify to win a statement credit of up to $500. All you need to do to enter the contest is pay at least a penny more than the minimum balance on your December 2020 Petal Card billing statement between now and 10:59:59 PM ET on January 26, 2021.

You can also enter the sweepstakes without paying more than your minimum due by completing and submitting a designated online survey via Survey Monkey during the window stated above.

Petal will reward the prize to 100 card members, selecting 50 in January and another 50 in February. Cardholders with a Petal® 1 "No Annual Fee" Visa® Credit Card or Petal® 2 "Cash Back, No Fees" Visa® Credit Card are eligible for this promotion.

If you're a winner, Petal will award you with a statement credit of up to $500 to offset your credit card bill. So if your balance is $400, Petal will give you a $400 statement credit, thus paying your bill in full. Any balances exceeding $500 will only receive a $500 statement credit, but that could still make a sizable dent in your debt.

This is a unique promotion that encourages card members to pay more than the minimum due, helping you save on interest charges and pay off debt sooner.

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Petal credit cards are issued by WebBank, Member FDIC.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.