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Revvi Credit Card Review 2024: Avoid This Credit Card
August 30, 2024
Revvi Credit Card at a Glance
Choosing the right credit card is important for building or improving your credit score. The Revvi Credit Card is marketed as a tool to help people with bad credit. In this review, we’ll look at the features, terms, and user opinions of the Revvi Credit Card to see if it’s a good choice for you.
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What Real People Are Saying
TL;DR The Revvi Credit Card has received negative reviews due to high fees, limited acceptance, and poor customer service. It is generally advised to avoid this card and consider other options. Here are some common opinions shared on platforms like Reddit:
- Negative Reviews and Fees: Many users are unhappy with the Revvi credit card. Complaints include high annual fees, lack of rewards, and limited acceptance at some stores. The card’s interest rate of 35.99% is also very high.
- zeta32000: “Please don’t even waste your time with this card. It is not accepted at a lot of places.”
- AdBrilliant1699: “Horrible card do not get it. You pay two hundred to get 300 in credit not worth it!”
- Limited Acceptance and Issues: Users have reported problems using the Revvi card for online purchases, including PayPal and Square sites. Some have had declined transactions because the card was flagged as fraudulent. Additionally, there have been complaints about double payments being deducted from bank accounts.
Revvi Credit Card Highlights
Is The Revvi Card Good?
The Revvi Credit Card is a real Visa credit card issued by MRV Banks. It offers the benefits of the Visa network, including worldwide acceptance and security features. However, it is important to see if the card’s terms and features make it a good option for building credit.
Revvi Card Features
- Cash Back Rewards: Earn 1% cash back on payments, not purchases. This means you get rewards for paying your bill, which is different from most cards that offer rewards on spending.
- Free Credit Monitoring: Access your TransUnion credit score monthly. This feature can help you track your credit-building progress and stay informed about your credit status.
- Mobile App: Manage your account and payments through the Revvi mobile app. The app allows you to view your balance, make payments, and track your spending on the go.
- Visa Network Benefits: Worldwide acceptance and security features provided by Visa. As a Visa card, the Revvi card is accepted at millions of locations globally, providing convenience and security.
Revvi Credit Card Downsides
Poor Financial Terms and Approval Process
The Revvi Credit Card usually offers a starting credit limit of $300. The approval process involves looking at the applicant’s credit history, and Revvi does check your credit score before approval. This card is mainly for people with poor to bad credit.
Expensive Fees and Interest Rates
The Revvi Credit Card comes with several fees that you should consider:
- Annual Fee: $75 for the first year, billed to your first statement. After the first year, the annual fee remains high.
- Program Fee: A one-time fee of $95 is needed for activation. This fee is non-refundable and must be paid before you can use the card.
- Monthly Fee: $8.25 per month after the first year. This fee is in addition to the annual fee.
- Regular APR: A high interest rate of 35.99%. This APR is much higher than the rates offered by many other credit cards, which can make carrying a balance very expensive.
These fees can greatly affect the available credit and the overall cost of using the card.
Who Should Consider the Revvi Credit Card?
The Revvi Credit Card is primarily designed for individuals with bad or poor credit who need to build or rebuild their credit history. However, its high fees and interest rates make it less appealing compared to other options. Here are key points to consider:
- High Fees: The Revvi Card comes with a $75 annual fee for the first year, a $95 program fee for activation, and a $75 annual fee with $8.25 monthly fee afterwards.
- High APR: The card has a high interest rate of 35.99%, which can be costly if you carry a balance.
- Initial Credit Limit: The typical starting credit limit is $300.
- Credit Score Check: Revvi does conduct a credit score check during the application process, but it’s designed for those with poor credit.
- Credit Building: If you have trouble getting approved for other credit cards and need to build your credit, the Revvi Card can serve as a last resort.
- Limited Benefits: While it offers 1% cash back on payments, the card lacks significant rewards or perks compared to other credit-building options.
Compare the Revvi Credit Card to Other Credit Cards
Compared to other credit cards aimed at building credit, the Revvi Credit Card’s fees and interest rates are much higher. Cards from issuers like Discover and Capital One offer better terms and benefits, making them better choices for many people. For example, the Discover it® Secured Credit Card offers cash back rewards and a lower APR, making it a more attractive option for those looking to build credit without high fees.
Revvi Card vs. Chime Credit Builder Secured Visa Credit Card
The Chime Credit Builder Visa® Card is a secured credit card with no annual fees, no interest, and no credit check to apply, designed to help build credit by reporting to all major credit bureaus. Unlike the Revvi Card, it does not charge high fees or interest rates, making it a more cost-effective option for credit building.
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Revvi Card vs. Discover it Secured Credit Card
The Discover it® Secured Credit Card offers cash back rewards and a lower APR compared to the Revvi Credit Card. It requires a security deposit but provides better terms and benefits, including 2% cash back at gas stations and restaurants and 1% on all other purchases, making it a more attractive option for those looking to build credit without high fees.
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Revvi Card: Our Expert Takeaway
Using credit cards wisely is crucial for building or rebuilding your credit. High fees and interest rates can hinder your progress, so choosing a card with lower costs can help you save money and improve your credit score faster. Always read the terms and conditions of any credit card before you apply. Understand all fees and how the interest rates work. Look for cards that report to all three major credit bureaus (TransUnion, Equifax, and Experian), as this helps improve your credit score when you make on-time payments.
The Revvi Credit Card offers a way to build credit for those with bad or poor credit, but its high fees and interest rates make it less attractive than other options. For better terms and benefits, consider alternative credit-building cards from established issuers like Discover and Capital One. Evaluate your financial needs and goals carefully before making a decision. Follow credit card experts like Kudos to learn more about credit cards, read the latest expert reviews, and understand the terms and conditions of any card you choose.
Revvi Credit Card FAQs
Is Revvi a real credit card?
Yes, Revvi is a legitimate Visa credit card issued by MRV Banks.
How much does Revvi approve you for?
The Revvi Credit Card typically offers an initial credit limit of $300.
Does Revvi check credit score?
Yes, Revvi conducts a credit score check as part of the approval process.
What bank owns Revvi Credit Card?
The Revvi Credit Card is issued by MRV Banks.
What is the Revvi Card credit score requirement?
The Revvi Credit Card is designed for individuals with bad or poor credit, typically approving those with a credit score of 500 or higher.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
