Revvi Credit Card Review: 3 Benefits and 3 Drawbacks
Most people with poor or no credit card are unable to get credit cards that offer rewards like points and cash back.
This can feel extremely frustrating, as often these people are already struggling financially
However, there is a new emerging trend where ‘credit builder’ type credit cards are offering some limited rewards. The Revvi Credit Card is one of those cards, so we take a look at if it’s a good option for people with bad or no credit, who cannot get more lucrative cards, like the M1 Owner’s card (which offers up to 10% cash back at select popular retailers). We find that the Revvi credit card charges so many fees and has such low credit limits, though, that you’re unlikely to come out ahead.
Revvi Credit Card executive summary
- If you have poor or no credit, the Revvi Credit Card is a high-fee option to start building or re-building your credit. Unlike most credit cards targeted at ‘bad credit,’ this card actually comes with rewards – a 1% cash back rate (in the form of a statement credit). However, the fees are so high and the rewards rate is so low, we doubt you will ever ‘breakeven,’ on the rewards you receive for spending, compared to the fees you will pay.
- There are a lot of fees on this card, starting with the $89 initiation fee and There’s also a $75 annual fee in the first year (then $48/per year thereafter). That means you’ll need to spend $16,400 on the card before you break even with those two starter fees.
- That $16,499 is around $1,366 per month over the course of a year. This might be hard to do, even if you want to since Revvi appears to start most people out with low credit limits of around $300 (individuals may get a higher or lower credit limit and Revvi may raise it over time with consistent on-time repayments). The ongoing $48 annual fee and $6.25 monthly servicing fee will make it hard for the rewards rate to offset fees since that requires a spend of $12,300 (e.g., $1,014/month) before you break even with the annual fee. Given the low credit limit, this card will likely give most people, most will start around $300, that might be hard to do, even if you want to.
- There’s also the big drawback that you have to have the card for 6 months before you can start accruing points.
- This card reports to all three credit bureaus monthly.
- The issuer and servicer of this card is MRV bank – a tiny community bank in Missouri (Brannen is another tiny, mystery bank. Read more about it here).
- MRV is quiet about what their credit approval standards are for this card. We’d estimate you’ll need a credit score of at least ~540 and more likely at least ~600 to be approved. They may approve people with no credit too.
- This is a Visa card, so it will be widely accepted anywhere Visa is, which is most merchants.
Not recommended. If you have poor or no credit and are looking to improve your score, this is an option as a ‘builder’ card. There are a lot of fees though, namely $164 in initiation and annual fees in the first year, then another $123 of ongoin annual and monthly servicing fee each year. So you’re unlikely to get your money back in rewards from those fees (especially when factoring in how low the credit limits are on this card). After 6 months of being in good standing, you will start to accrue 1% cash back (issued in the form of a statement credit), which is unusually good for a credit card targeted at low/no credit situations. If you have good or great credit though, you can likely find a card with a higher rewards rate
Pros and Cons: Revvi Credit Card
1% cash back (after 6 months of being in good standing)
Reports monthly to credit bureaus
No deposit required
Is a Visa card, so it’s widely accepted most places
A staggering, mind-boggling APR of 34.99%
$89 initiation fee
$75 annual fee (first year) then ongoing $48 annual fee
$75 annual fee (first year) then ongoing $48 annual fee
May not breakeven on fees and rewards if you don’t spend enough each year on this card
No sign-up bonus
- 1% cash back (as a statement credit, rewards only being after the first 6 months of the account being in good standing).
- You must trigger the redemption of your rewards (it’s not done automatically) and can only redeem in 500-point increments.
- 34.99% APR.
- Make sure you pay in full every month.
- $75 annual fee (first year), then a $48 annual fee (ongoing).
- $89 initial fee (must be paid within 60 days of account opening).
- $6.25 monthly ‘servicing fee,’ which adds up to another $75 per year (waived for the first year).
- So that adds up to:
- $164 in fees for the first year
- $123/year in fees thereafter
- Late payment fee: $41
- Returned payment fee: $41
- Applications are subject to credit approval.
- While they will take into account your total application, we recommend a credit score of at least 540 to be likely for approval.
- Be 18 years old (or the age of majority in your state or territory).
- Be willing to provide a non-PO Box mailing address.
Unfortunately, this credit card comes with many fees and a very high APR, which means interest builds up quickly if you are not paying your card off every month.
Overall the Revvi credit card reviews are negative, but if you need a card and you have low credit, it is an option for you.
Read on for some reviews of the Revvi card and its pros and cons.
Discussion: 3 benefits and 3 drawbacks
3 Revvi Credit Card benefits
The Revvi credit card isn’t for everyone and comes with a lot of drawbacks. However, there are a few benefits that might make it the best option for some people.
1. It has a high approval rating
The biggest benefit of the Revvi credit card is that it has a high approval rate, so even if you have a bad credit score, you could be approved.
The appeal of the Revvi card for people with bad credit is that they can use it, even with a low credit line, pay their bills on time, and hopefully build up their credit score so they can take out loans or get better credit cards in the future.
However, once you are approved, you will have to pay an $89 fee to get your card.
If you are thinking about applying for a Revvi card, make sure you are prepared for the initial fee, along with the high ongoing annual and monthly fees.
2. Unlike most ‘credit builder’ cards, there’s no security deposit required
Another benefit of the Revvi card, especially for people with low credit, is that no security deposit is required to open the card.
Usually, credit cards for people with bad credit are secured, meaning you need to put down a security deposit before you can start using the card.
But, Revvi is an unsecured card, so you will not have to pay a security deposit or put down any other collateral before you use the card.
Just remember there are still fees to pay upon approval and when the card is open.
3. There’s a 1% cash-back rewards rate after the first 6 months
Another benefit of the Revvi credit card is that you build up 1% cashback on all your purchases through the Revvi Rewards Program.
As a Revvi credit card holder, you are automatically enrolled in the rewards program, and you start earning cashback after the first 6 months your account is in good standing.
Although it is called cashback, you can only use your cashback points as statement credits. You cannot actually withdraw the money as cash.
Usually, credit cards for people with low credit, do not offer rewards or cash back, so this is something that makes the Revvi card stand out.
But since the card has a lot of fees, the cashback will likely not help unless you spend several thousand on the card every year (see executive summary above for exact calculations/numbers). It’s unlikely that your Revvi credit card will have a credit limit high enough to reach that threshold.
And you are not able to redeem your Revvi cashback until your account has been open for at least six months. If you close your account before six months, you will lose your cashback balance.
Or, if you close your account after six months and have a rewards balance, you will lose the rewards.
Revvi Credit Card: FAQs
Do you still have questions about the Revvi credit card? Let’s clear those things up with the most frequently asked questions.
What is the credit limit for a Revii credit card?
The initial credit limit is almost always $300. Most cardholders will need to make payments on time for at least 12 months after approval to request a credit line increase.
What bank issues Revvi credit cards?
MRV Banks issues the Revvi credit card, it’s a small, Missouri-based bank that is FDIC-insured.
Can I withdraw cash from Revvi credit cards?
Yes, you can request a cash advance with a Revvi credit card. You need to contact customer service to request a PIN before using it at an ATM. There is also a cash advance fee of $10 or 3% of the transaction amount, whichever is higher, for doing so.
Revvi Credit Card reviews consistently reveal 3 main drawbacks
Although the Revvi credit card has the benefits listed above, the reviews are generally negative for the card.
Here are some of the main points we found across Revvi Credit Card reviews that highlight the challenges of this card:
- 1. If you are building credit, there are cheaper options: In addition to the $89 approval fee, Revvi charges an annual fee of $75 for the first year and $48 for every additional year. You will also have to pay a monthly fee after the first year of $6.25 per month. Many cards have low fees and will help you build credit. The average annual fee for new credit cards is just $22.
- 2. High APR: A negative point that many Revvi reviews highlight is that the credit card has an APR of 34.99%. This APR is higher than most credit cards, which have APRs of around 20-30% (the national average is actually ~17%). If you carry any balance on your Revvi card from month to month, you will have a lot of interest to pay.
- 3. Low Credit Limit: The credit limit for most Revvi credit cards is $300, although it could be higher or increase over time. This credit limit is low, considering you are paying an approval fee of nearly one-third the amount of money you have to spend on the card. If you can get a higher limit, it would make the approval fee slightly more “worth it,” but there is no guarantee that you will get a limit over $300.
Frequently Asked Questions (FAQ)
How can I reach customer service for the Revvi Credit Card?
- You can email at:
- You can call customer service at:
- 858.428.1914 (“For our customers in Puerto Rico, Guam, the Virgin Islands, and other US territories”)
- You can send mail to:
PO Box 85800
Sioux Falls, SD 57118-5800
Where do I login to my Revvi credit card account?
Login to your Revvi Credit Card here.
Where do I make my Revvi credit card payment?
Login to your Revvi member account here.
Final thoughts on the Revvi Credit Card
Although the 1% cash back seems attractive at first, the very high fees make it hard to break even or come out ahead. It’s an option for people who need a way to start building credit and accept that they will likely have to pay a few hundred dollars in fees over a couple of years to do so.
The interest rate is incredibly high, so cardholders would be wise to be extremely careful to fully pay off their full balance each month.
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John has always been fascinated by money, wealth, and investing. He got a front row seat into how Ultra High Net Worth individuals, families, and entities manage their money while working for years in Goldman Sachs’ Private Bank.
He learned a great deal about personal finance and wealth management from some of the most experienced professionals in the industry.
Now he enjoys helping all kinds of people grow their wealth and achieve their financial goals.
When he’s not advising clients, Cody enjoys playing golf and spending time with family and friends.