Revvi Card Review: Credit Limit, Benefits

Revvi Card Review

The Revvi card’s main selling point is that it gives people with bad or no credit an opportunity to build one without placing a security deposit. In the long run, disciplined users of the Revvi card can rebuild and improve credit score which helps qualify for better credit card offers.

The reason why many people try to avoid credit cards designed to build credit is their harsh terms — complex and hefty fees, high interest rates, and stiff penalties. Honestly, this credit card has the same problem: little perks, on top of multiple fees and a high APR.

Revvi card reports to all major credit bureaus and can help you go from no credit to good credit quickly enough, however it’s still necessary to compare the advantages of this credit card and the cost of use.

Revvi Card pros and cons

Revvi Card: rewards system in a nutshell

Revvi’s rewards system may give its holders unexpected surprises, so here is what you should know about it.

The Revvi Card offers 1% cash back rewards^^ on payments made to your Revvi Credit Card. It means you’ll get rewards not by making purchases, but for paying off your Revvi card balance.

The points (1 point for each dollar) start accumulating right after you activate (open) your Revvi account. However, you’ll be able to redeem your points only after 6 months from account opening (the account also must be in good standing).

The points value is fixed: 100 points = $1. The only way to redeem points is a $5 statement credit, which means you can redeem only amounts multiple of 5: $5, $10, $15, etc. The problem here is that it’s hard enough to get these amounts of points, considering the low initial limit: just $300. Assuming that each month you use your limit to the full and then pay it off, it’ll take almost 2 months to earn $5 cash back.

The positive side is that the accrued points do not expire as long as your account stays open.

Who can benefit from getting the Revvi Card?

People who have little or no credit history may benefit from Revvi. It gives you a chance to build credit, on top of getting 1% cash back.

People who have bad credit but want to start over may also benefit from getting this credit card. It reports to all three major credit bureaus and doesn’t require a cash deposit, which some people might not be able to afford.

The ones who can’t benefit from this card are frequent travelers, as it’s prohibited to use Revvi outside the United States or to make payments in a foreign currency.

Are there any other benefits of the Revvi Card?

This card comes with a few additional benefits (common for all Visa cards), such as:

• $0 fraud liability. You’ll not be held responsible for any unauthorized charges on your Revvi card.
• Free monthly credit score. You may monitor your credit score for free using TransUnion® reports.
• Online account management. You can check due dates, view statements, and make payments in your browser after logging in to MyCCPay.com or using Revvi mobile app for Android and iOS (though the app’s rating is relatively poor: 2.8 for iOS and 3.5 for Android).

Conclusion

Revvi is geared toward people with bad credit or those with little or no credit history. In spite that it has 1% cash back, its annual fee and interest rate are much higher than the average. Plus, it charges a monthly maintenance fee from the second year onward, something that many cards for credit-builders don’t. Unless you don’t qualify for other credit card offers, this card is not the best choice for you.

The Revvi Card is an option for those, who need Classic features. With an APR of 35.99% and $75 annual fee this credit card can easily cover your simple everyday demands. For high approval odds you need to have Rebuilding Credit to Fair (0-669) credit score. With Revvi you will get such features as Cashback, Rewards, Free Credit Score, etc. To make sure about either this credit card is good for you or not compare it with other cards with similar features.

*See rates, fees, costs and limitations for additional details.

^^See Revvi Rewards Program Terms & Conditions for details.