Credit Cards » Compare Credit Cards » Deserve EDU Mastercard vs Petal 2 Visa: Which of Them Suits You Best?
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Deserve EDU Mastercard vs Petal 2 Visa: Which of Them Suits You Best?

If you're a student looking to build your credit, both Deserve EDU and petal2 can help. What are the differences and which is better?
Author: Josiah Mwangi
Josiah Mwangi

Writer, Contributor

Experience

Josiah Mwangi is a Certified Public Accountant and has an MBA in Finance. He has been writing for the Huff Post, Corporate Finance Insitute, Smarter.loans, and other top publications. In his free time, he goes hiking alongside his two German Shepherds
Interest Rates Last Update: April 15, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Josiah Mwangi
Josiah Mwangi

Writer, Contributor

Experience

Josiah Mwangi is a Certified Public Accountant and has an MBA in Finance. He has been writing for the Huff Post, Corporate Finance Insitute, Smarter.loans, and other top publications. In his free time, he goes hiking alongside his two German Shepherds
Interest Rates Last Update: April 15, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

Table of Content

Students can often feel a little overwhelmed when shopping for credit cards. While they may want a good deal, they also want rewards that they can easily use and benefit from. Fortunately, there are some great student card options on the market today.

The Deserve EDU Mastercard is designed for those who are just starting on their credit building journey, Yet, it offers some great benefits. The Petal 2 is a solid rewards card with no fees. 

In this comparison, we review them side by side in order to understand which of them offer more – and which one can be the best fit for your needs. Let's start.

General Comparison

Deserve® EDU Mastercard for Students

Petal 2 Visa card Review

Deserve EDU Mastercard
Petal 2 Visa Card
Annual Fee
$0
$0
Rewards
1% cashback on every purchase
Earn 2% – 10% cash back at select local and national merchants. Up to 1.5% on everyday purchases
Welcome bonus
None
None
0% Intro APR
N/A
None
Foreign Transaction Fee
$0
$0
Purchase APR
22.49% Variable
18.24% – 32.24% Variable
Read Review
Read Review

Compare The Perks

Deserve EDU Mastercard

Deserve® EDU Mastercard for Students

  • No Annual Fee: You won’t need to worry about incurring an annual fee for using this card, as this card has a $0 annual fee.
  • No International Transaction Fees: If you want to travel abroad, you won’t incur any international transaction fees. This is a great option for students who want to spend the summer break exploring the world.
  • Free Prime Student Access: You’ll get access to Prime Student for free for one year.
  • Cash Back on Purchases: You can earn 1% cash back on all your card purchases.
  • Cell Phone Protection: Get up to $600 in coverage less a $50 deductible if you pay your cell phone bills with your card.
Petal 2 Visa Card

Petal 2 Visa card Review

  • No Fees: When Petal says you don’t need to worry about fees, they mean it. In addition to no annual fee, there are no foreign transaction fees, no late fees, or no returned payment fees.
  • Cash Back: You can earn up to 1.5% cash back on your purchases. You’ll earn 1% immediately and get up to an additional 0.5% if you make your payments on time.
  • Bonus Cash Back: You can also earn up to 10% cash back with select merchants. You can check the app for merchants in your area that are offering cash back bonuses, so you can support local businesses and earn bonus cash back.
  • Budgeting Tools: The Petal 2 Visa also offers budgeting tools that will help you to set a budget and track your spending, so you can keep your finances in check.

Compare The Drawbacks

As with most credit cards and financial products, there are both positives and negatives associated with these cards.

It is important to be realistic about the potential card drawbacks before you make a decision about which card is best for you.

Deserve EDU Mastercard

Deserve® EDU Mastercard for Students

This card does not permit cash advances or balance transfers. If this is important to you, this is not the right card for you.

If you’re late with your payment, you’ll incur a fee of up to $25, so you will need to be careful to ensure that your payments are not delayed.

Once approved, you'll get the card in 10-15 business days. It can be a bit long time to wait if you need it right away.

Petal 2 Visa Card

Petal 2 Visa card Review

Unlike the Deserve EDU, which does not require a credit history, you’ll need at least an average credit score to qualify for the Petal 2.

While the Deserve EDU has a straightforward rewards structure, the Petal 2’s is a little more complicated. You’ll need to keep an eye on the app and make your payments on time to maximize your rewards.

You’ll not get an Amazon Student membership credit or cell phone protection with this card, as you would with the Deserve EDU.

Compare Redemption Options

Getting exclusive rewards in your first credit card is not an option. While the rewards rate is limited, there are still a couple of things to know when it comes to redemption methods:

  • Deserve EDU Mastercard

At the end of each billing cycle, your cash back for every qualifying purchase is calculated. The amount is automatically credited to your account as statement credit.

However, this is in increments of $25, so for low spenders, it could take a few months to see your rewards. This is an easy redemption method, but there is no option for gift cards, bank account deposits or other options.

  • Petal 2 Card

You can redeem your Petal 2 cash back as statement credit up to your current balance. However, if you prefer you can request an ACH transfer or check, with a minimum of $20.

At any time, you can check your available cash back credit in your “Cash Back Wallet”. You can then redeem all or part of your cash back with the method of your choosing.

How to Maximize Cards Benefits?

These cards are designed to offer basic benefits for students. However, there are some ways that you can maximize your card benefits.

  • Make sure that you pay your cellphone bill with your card to access protection.
  • Sign up for Amazon Student to get a subscription rebate.

Deserve® EDU Mastercard for Students

  • Keep checking the app: You’ll find merchants in your local area where you can earn up to 10% cash back. On the app, you’ll see a map that highlights these merchants.

Petal 2 Visa card Review

Customer Reviews: Which Card Wins?

  • Deserve EDU Mastercard

Satisfied customers report that this card is a good option for those with no credit history, as you don’t even need to provide a Social Security number. In fact, all you need to provide is your student ID.

Negative reviews highlight customer service issues. There are some potential customers who have had difficulties with the application process and have had long delays trying to get an answer by phone or email.

  • Petal 2

Satisfied customers report that the budgeting tools are very handy, particularly if you want to keep your finances on track or are working on building your credit.

Negative reviews highlight application problems. There are some customers who have their applications denied despite having a good credit rating. There are also reports of accounts being closed with no notice.

Bottom Line

Both these cards are great for beginners as well as offer  for students who are looking to earn rewards and build good financial habits.

However, there are some crucial differences between the two cards that will influence which is the better option for you.

Why You Might Want the Deserve EDU Card?

The Deserve EDU Mastercard is a great option that could be good if:

  • You want a straightforward reward system: While there is the potential to earn more with the Petal 2, the Deserve EDU has an easy to understand reward system that helps you to accumulate statement credit.
  • You enjoy Prime Student: If you already use Prime or are considering a Prime Student subscription, you’ll benefit from the statement credit this card offers. When you pay for your Prime Student subscription with your card, you’ll be reimbursed the fee.
  • You want free phone protection: This is a nice added bonus for this card and if you pay your bills with your card, you can claim up to $1,000 in a year (max $600 per claim) with just a $50 deductible.

When You Might Want the The Petal 2 Card?

The Petal 2 card can be a good fit for your needs if you're looking for:

  • You don’t want to worry about fees: You don’t need to have any concerns about fees from annual fees to late fees or foreign transaction fees.
  • You want a higher cash back potential: If you establish a track record of making your payments on time, you can earn up to 1.5% cash back. Additionally, the app features local merchants where you can earn up to 10% cash back.
  • You need help budgeting: The Petal 2 has some great budgeting tools to help you track your spending.

Compare The Alternatives

If you're a student or looking for a good credit card to build your credit, both Petal 2 and Deserve EDU can be good options. However, there are some good alternatives you may want to consider:

chime card

Capital One Journey Student Card

discover-it-student-cash-back_5mNPw7i

Chime Credit Builder
Capital One Journey
Discover It Student Cash Back
Annual Fee
$0
$0
$0
Rewards
None None
Up to 1.25% earn 1% cash back and another 0.25% if you pay on time, so you can boost your cash back to a total of 1.25%
1-5% 5% cash back on activated rotating category purchases (up to $1,500 in purchases each quarter, then 1%) and 1% on all other purchases
Welcome bonus
None None
None $5 per month for 12 months on select streaming subscriptions when you pay on time
Match Bonus Match Bonus for the first 12 months
Foreign Transaction Fee
0%
None
$0
Purchase APR
N/A
29.99% (Variable)
18.24% – 27.24% Variable

Student College Credit Cards

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Picture of Josiah Mwangi

Josiah Mwangi

Josiah Mwangi is a Certified Public Accountant and has an MBA in Finance. He has been writing for the Huff Post, Corporate Finance Insitute, Smarter.loans, and other top publications. In his free time, he goes hiking alongside his two German Shepherds
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