The
Revvi Card is a pretty good unsecured credit card for people with
bad credit who want to earn rewards but need to borrow for emergencies. Cardholders earn
1% cash back on all purchases, after paying the card’s bill, and the card has a
$300 minimum credit limit with no deposit needed.
If building or rebuilding credit is your top priority, however, there are far cheaper options available. The Revvi Card is very expensive, charging a one-time “Program Fee” of
$95, plus an annual fee of
$75 1st yr, $48 after and a monthly fee of $8.25 starting the second year an account is open. Any balance you carry from month to month will quickly rack up interest charges, too, thanks to the card’s
35.99% APR.
Revvi Card Review Highlights
$300 Limit with No Deposit Needed
The Revvi Card is not a secured credit card, so you won’t need to place a refundable security deposit. Rather, you’ll get an unsecured credit line of
$300 to start. That is on par with what most unsecured cards for people with limited or bad credit offer.
Cardholders can request a higher credit limit after 12 months. However, it’s important to note that there’s a credit limit increase fee equal to 20% of any increase.
Expensive Fees
The average annual fee among new credit card offers is
$22.29. The Revvi Card blows past that just with its one-time program fee of
$95. Then, between annual and monthly fees, you’re looking at paying
$75 the first year and $147 per year after that.
Unless you really need to borrow for an emergency you can’t afford with cash, you’re far better off with a $0 annual fee
secured card.
High APR
The Revvi Card’s APR is
35.99%. For comparison, the average secured credit card charges
22.83%, and the average credit card offer overall has an APR of just
22.89%.
If you rack up a balance of $1,000 with the Revvi Card and set a goal of repaying it in one year, for example, you would incur a total of $203 in interest charges along the way. So, if you do have to carry a balance from month to month with this card, try to pay it off as quickly as possible. A
credit card payoff calculator can help you plan things out.
1% Cash Back
The Revvi Card rewards users with
1% cash back on all account payments. In other words, you get
1% back on all purchases but only after you repay Revvi for the charges. Most credit cards with rewards offer at least 1% back on purchases.
Accepts Bad Credit
The Revvi Card does not have a minimum credit score requirement, so applicants with
bad credit can get approved. You can also find out whether you’re approved nearly instantly.
Checking Account Required
If you don’t have a
checking account, you won’t be able to get this credit card.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.