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
$200 minimum credit limit with no deposit needed.
What I Like About the Revvi Card
$200 - $500 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
$200 - $500 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.
1% Cash Back
The Revvi Card rewards users with
1% cash back on all bill payments. In other words, you get
1% back on purchases but only after you repay Revvi for the charges. Select merchants will even give you up to 10% cash back on eligible purchases.
Most credit cards with rewards offer at least 1% back, but most unsecured cards for bad credit don’t offer rewards, at least not on all purchases. So, all in all, this is a pretty good deal.
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.
What I Don’t Like About the Revvi Card
Expensive Fees
The average annual fee among new credit card offers is
$27.85, according to the latest
WalletHub Credit Card Landscape Report. 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
$50 - $125 the first year and $123 - $171 per year after that.
High APR
The Revvi Card’s APR is
35.99%. For comparison, the average secured credit card charges
21.87%, according to WalletHub research, and the average credit card offer overall has an APR of just
22.35%.
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 more than $200 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.
Checking Account Required
If you don’t have a
checking account, you won’t be able to get this credit card.
Bottom Line: Is the Revvi Card Worth It?
The Revvi Card is worth getting if you need to borrow for a small emergency expense and you have a bad credit score. However, if your top priority is building or rebuilding your credit, there are much cheaper options available. For example, a $0 annual fee
secured card would be much cheaper in the long run.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
