Revvi credit card is a great unsecured credit card for people with a bad credit who want to earn rewards but also need to borrow for emergencies. After cardholders pay the card bill, earn a 1% cash refund on all purchases, and the card has a minimum credit limit of $300 with no deposits.
If building or rebuilding credit is your top priority, however, there are much cheaper options available. The Revvi credit card is very expensive and charges a one-time “program fee” of $89, plus an annual fee of $75 in the first year, $48 thereafter, and a monthly fee of $6.25 starting in the second year of opening account. Any balance you make from month to month will quickly accrue interest, thanks to the Revvi credit card’s 34.99% APR.
It is a credit card that features a quick and easy application process, and it doesn’t need perfect credit. Revvi is a complete Visa credit card, which helps you increase your credit score through timely payments and responsible usage. Additionally, Revvi credit card also gives Cash Back Rewards worth 1% for timely payments. The card also offers the initial credit limit of $300, and the possibility of an increase in the credit limit following the first year.
Revvi credit card is ideal for those who:
- Are looking to boost their credit score, Make on-time payments while keeping the use of credit to a minimum.
- Are looking for Visa protections like Zero Liability insurance.
- Are in search of a budget-friendly monthly payment options.
- Want to earn Cash Back Rewards worth 1% for purchases made via the Revvi credit card.
Building credit using Revvi card
The process of improving your credit score requires the time and consistent efforts. It’s a method of making intelligent financial decisions, including making sure your credit utilization is low and paying your debts in time each month. A credit card like Revvi card is part of this method and can help you to build an improved financial future.
Credit cards like those offered by the Revvi Visa offer the opportunity to access credit without a limit for people who have low or bad credit scores. This increased acceptance for applications can help those with low credit score get the credit they require without the requirement of a security deposit for secured credit cards.
Paying on time and limiting credit usage using Revvi credit card are essential parts of the credit process. The history of your credit and payments comprise more than two-thirds the FICO score of a person which means these are two of the primary elements in boosting the credit rating of yourself. Additionally, since Revvi Card reports monthly to the 3 major credit agencies (Experian, Equifax, and TransUnion), this hard work really shows results.
Earn 1% Cash Back on Purchases using Revvi credit card
Using a Revvi credit card also earns Cash Back Rewards of 1% at the time of paying the minimum balance every month. Earning cash back of 1% as well as creating credit is a fantastic option, making Revvi an excellent choice for those who want to increase their credit score while earning rewards.
Revii cash back rewards are applied towards credit on statements to help pay off Revvi Card balances. No limit is set on the amount of cash back that a cardholder could earn.
Credit Limit Increases
Revvi Visa credit card is accompanied by a credit limit of $300 (subject for credit approval). Although the credit limit isn’t the most impressive, Revvi does review cardholder accounts within 12 months after the card’s opening. When your score is improving and Revvi tries to grant you an increase in your credit limit (subject of an extra fee for credit increases that is 20 percent in any increment.
How to Apply for Revvi Credit Card
As with similar credit cards designed for those with poor credit score, the Revvi Card features a quick and simple application procedure. Revvi offers a simple request form that is accessible on their secured website that can make a decision on credit within just the span of a few seconds.
The following personal information is required to apply for a Revvi credit card:
- Full name
- Birth date
- Legal Address
- Social Security Number or EIN tax ID
But, remember that Revvi requires a bank account to be used to verify your identity and financial status. This also gives more credit access for those who may otherwise be denied access to credit cards.
After being approved, applicants will need to pay a $89 fee to establish their account. This fee is additional to the annual fee of $75 (a cost that is reduced to $48 at the end of first year) Keep this in mind prior to applying.
Watch Out for the APR on Revvi Credit Card
The Revvi credit card comes with an expensive APR when you do purchase. A high interest rate is only relevant in the event that you have a balance however. Make sure to pay off the whole balance before the billing time expires, and before a statement is issued and you’ll not have any issues using Revvi. If you plan on having a balance you’ll be paying a lot of interest.
Benefits of Revvi credit card
- Revvi cardholders gets an exclusive access to free Credit Monitoring powered by TransUnion agency.
- Revvi credit card users earn 1% cash back rewards on payments made using Revvi Credit Card.
- Simple and fast application; response provided in seconds.
- Subject to available credit, Revvi card provides a $300 credit limit.
- Build credit score with on-time payments and keep balance below the credit limit.
- Option to increase credit limit after 12 months (fees applicable).
- Checking of account is required.
- Revvi reports monthly to all three major credit bureaus.
- Perfect credit is not required.
- An easy-to-use Revvi mobile app for credit management on the go.
Limitations of Revvi Card
You cannot use your Revvi credit card instantly after approval. Revvi does not provide virtual card numbers, nor do they disclose the credit card number prior to its arrival. Revvi Card will arrive to you in about 14 business days.
After you receive Revvi card, you’re need to activate it before you can use it. You can activate your new Revvi Card online, or by calling Revvi card customer service.
Summary
There are many unsecured credit cards with poor credit available. But it has better acceptance feature than other credit cards due to its requirement to have a checking account. Furthermore, the Revvi consistently submits its information to major credit bureaus. Many competitors report only on one agency, and others report on a semi-regular basis.
The main drawback of Revvi Card is the high costs that it charges. One of the most costly fees are the acquisition APR between the mid-30s, among the most expensive rates on the market. However, if you intend to pay your total balance in full, the interest rate will not cause any issues. In addition, if you’re seeking the Credit repair card its better to make your payment in the full amount. In this article we have covered all the required answers to resolve following important questions:
- What is a Revvi credit card
- What is Revvi credit card limit
- How to get pre approved Revvi credit card
- How to apply for Revvi credit card
- Is Revvi a good credit card
- Is Revvi credit card legit