Up to 45 million Americans can’t access credit because they do not have scorable records, potentially leaving them unable to obtain a home, car, healthcare, or even a job. How is Petal making it easier and more affordable for young people and marginalized groups to gain access to a credit card?

Gen Y are driving the market for personal loans in the US, moving away from traditional credit cards. Despite the burden of student debt, fiscal responsibility is high on the agenda as they seek to build better credit, consolidate debts and pay for large ticket items, such as cars and weddings.

Even as consumer finance regulations loosen, people in America are still apprehensive about how to choose the right financial product. Canvas8 surveyed 3,300 Americans and spoke to 20 people across the US to figure out how people get the financial information they need.

Over three-quarters of Americans now own a credit card, and considering the range of perks and rewards they come with, paying by plastic feels like a no-brainer. And research has found that now, people are using them to pay for purchases that come to as little as $5.