A New York startup aims to use everyday financial information to qualify people with scant or no credit histories for its credit cards.

The company, called Petal, considers an applicant's standard credit scores, when available. But it also analyzes their digital financial records, like checking accounts or, in some cases, prepaid debit cards, to rapidly assess their income and spending habits.

"It uses more financial information to make a credit decision," said Jason Gross, chief executive of Petal.

The company plans to target consumers who are "new to credit," like young adults, recent immigrants and lower-income consumers, as well as others who may lack traditional credit scores, Gross said.

The idea is that by sharing information about their personal cash flow, consumers can get a quick decision on a card application and access to a low-cost card even if they don't fit the traditional profile of a top-tier credit customer.

The company's Petal Visa card isn't widely available yet, but is being tested privately starting this month. Consumers can sign up online to receive an invitation to apply.

Petal isn't a bank, but works with a bank, as yet undisclosed, to issue its Petal card.

The card is the latest in a batch of new tools aimed at expanding financial options for consumers, often by tapping into digital data.

Traditionally, applicants for a credit card are assessed based on their credit score — a three digit summary of information in their credit reports, compiled by the three major credit bureaus (TransUnion, Equifax and Experian). But the Consumer Financial Protection Bureau has estimated that as many as 45 million Americans — 20 percent of the adult population — either have no credit history with the big bureaus or lack sufficient history to generate a credit score.

Those consumers typically may qualify only for high-interest, high-fee "subprime" credit cards or end up using alternative credit sources, like payday and auto title lenders.

Petal's approach is that by looking closely at these consumers' earning and spending patterns, it can identify people who can afford to handle credit responsibly.

A major focus for Petal is young adults, a group known for a lack of interest in credit cards. Gross said the CARD Act of 2009 may have played a role in a decreased use of credit cards by younger consumers. The law made it more challenging for young adults to qualify for credit cards. Those under 21 generally must show they have independent income or have someone else co-sign for the card. "An unintended consequence," he said, "is that the credit history of a whole generation is delayed."

Traditional credit cards are often larded with fees, he said, and use complex interest rate calculations. Petal charges no fees, he said and will tell customers how much they will owe, in dollars, by carrying a specific balance.

The card will also offer a grace period — a span of time after a purchase is made during which interest isn't charged — even when the consumer carries a balance on the card. Most cards start charging interest on new purchases immediately, if the card's balance hasn't been paid in full.

The Petal card makes money the way most credit cards do, he said: from interchange fees paid by merchants and from interest when cardholders don't pay their balance in full each month.

Ann Carrns writes for the New York Times.