Revvi Credit Card Review: 3 Benefits and 3 Drawbacks

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.

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 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.

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