Revvi Card: Cash Back for Bad Credit

In-Depth Review: Revvi Card 

The Revvi Card is an unsecured Visa® that provides a great platform for repairing credit – or building a positive history. The card provides an initial credit line of $300, the features of a full-fledged Visa® (including acceptance by nearly all merchants in the United States), and an excellent platform for improving credit.

How to Get Revvi

The Revvi Card is a credit repair card that can help you boost your credit score while earning basic rewards. The card is designed for those with bad or deep subprime credit and offers a stable, reliable platform to establish a positive credit history with responsible use.

But who qualifies for the Revvi Card? Revvi has the following requirements for potential applicants:

• Age: Applicants must be at least 18 years of age.
• Social Security Number (SSN): Applicants need to provide a SSN to prove U.S. citizenship and eligibility.
• U.S. address: Applicants must provide a United States mailing address; PO Boxes are not allowed.
• Proof of income: Applicants need to provide proof of income and demonstrate the ability to make the minimum monthly payment.
• Bank account: Applicants need to provide a valid checking or savings account to link to the card for payments.
• Credit: Bad credit (sub 500 FICO Score) or better required.

It’s worth noting that Revvi does not offer an online pre-qualification process, like Milestone, Destiny, or other similar cards. Some consumers may receive pre-sorted mail offers for the card, but this is simply an invitation to apply, not preapproval.

Checking Account Required

Keep in mind that Revvi requires a checking account to apply to help verify both your identity and finances. This requirement also provides greater credit access to those who might otherwise face rejection for a credit card. Once approved, successful applicants must pay a $95 program fee to open their account. This fee is in addition to the $75 annual fee (to $48 after year one.

Revvi Card Benefits

Build Credit…

Improving your credit score takes time and effort. This effort involves making smart financial decisions, such as keeping credit utilization low and paying your bills on time every month. A card like the Revvi Card is part of this process and can spearhead a brighter financial future.

Cards like the Revvi Visa® provide access to unsecured credit for people with less-than-perfect credit. This greater application acceptance helps those with bad credit gain the credit they need without the security deposit requirement of secured credit cards.

Credit use and payment history account for over two-thirds of a person’s FICO credit score –the two most significant factors in raising your credit score. Making on-time payments and keeping credit use low with the Revvi Card is essential to the credit journey. And hard work can pay off since Revvi Card reports monthly to all three major credit bureaus (Experian, Equifax, and TransUnion).

…While Earning Cash Back Rewards

One of the great features of the Revvi Visa is the ability to earn cash back rewards. Cardholders earn 1% cash back on the Revvi Credit Card account payments. Cash back rewards are classified as reward points, with 1% back equaling 1X points.

Rewards are redeemable online at MyCCPay.com, via the Revvi Mobile App, or by calling Revvi customer service. Points can only be redeemed in 500-point increments; each 500-point redemption will result in a $5 statement credit. Rewards redeemed as a statement credit to the Revvi account are applied to the outstanding account balance. Cardholders must still make regularly scheduled payments, even if they plan to use rewards.

Credit Limit Increases

The Revvi Visa® credit card comes with an initial credit line of $300 (subject to credit approval). While this credit line isn’t exceptional, Revvi does review cardholder accounts as early as 12 months after opening. Suppose your credit score has improved, and Revvi sees an opportunity. In that case, you might receive a credit limit increase (subject to an additional credit increase fee of 20% of any increase.

Visa Benefits

Finally, cardholders can anticipate the basic Visa Platinum protections, including:

• Zero Fraud Liability
• Cardholder Inquiry Services
• Emergency Card Replacement
• Roadside Dispatch and Auto Collision Damage Waiver
• Lost/Stolen Card Reporting
• ID Navigator from Norton

Comparisons

No Hidden Fees

The Self Visa® Credit Card is a sound alternative for those wary about big fees but interested in establishing a strong credit history. Self is a secured credit card that pairs with an existing Self Credit Builder Account to help users build credit with no hidden fees.

Qualifying for Self is simple and requires opening a Credit Builder Account. This account works like an installment loan, except you don’t get your money until you finish making all the loan payments. Once your account reaches more than $100 in their account, you can open a Self Visa® Credit Card account by using funds in the Credit Builder Account.

Cash Back

Because of the 500-point redemption requirements, the Revvi Card will likely leave you with plenty of unused points on your account. This, in turn, can significantly reduce the card’s value for those who don’t plan to hold on to the card for an extended period while building credit.

Fortunately, the Revvi Card is just one of several second-chance credit cards that offer rewards on eligible purchases.  The Aspire® Cashback Rewards Card provides 3% cash back on gas, groceries, and utilities, along with 1% cash back on all other eligible purchases. Similarly, the Total Visa® Card offers 1% cash back on all purchases, which compares very favorably with the Revvi Card.

Pros & Cons

Pros

• Access to unsecured credit
• 1% cash back rewards on payments made to the card
• Regular reporting to the major credit bureaus
• Monthly service fee waived for the first year

Cons

• Checking account required
• Fees on credit limit increases, card replacements, and more
• Higher than average annual fee
• Higher than average APR

What We Like About Revvi

Earn Basic Rewards

Like all credit cards, Revvi has positive and negative aspects. The card provides basic cash back rewards to people who might not normally qualify for rewards. Cardholders earn 1% cash back on all payments made to the card.

Regular Credit Reporting

Building credit requires getting credit for your hard work. That is done by regular reporting to the three main credit bureaus: Experian, Equifax, and TransUnion. Revvi makes this process easier thanks to reporting to all three credit agencies, whereas some other options for subprime credit only report to one bureau – limiting your credit growth opportunities.

Things to Consider

High APR

Receiving a high purchase APR with a credit card isn’t shocking. Cards for people with fair or poor credit typically rise as high as 30% – significantly higher rates than those seen with rewards cards for excellent credit or even secured cards.

But Revvi’s APR is even higher than that. Revvi’s regular purchase rate varies based on the Prime Rate but is currently more than five percentage points higher than the 30% APR rate mentioned.         

That means that the Revvi Card is not recommended if you plan to carry a balance. Beyond the high interest charges, the account only offers a $300 starting credit limit. Because of this, carrying any significant balance will harm your credit by increasing your credit utilization.

Fees Galore

The biggest consideration with Revvi is the fees it charges. Many near-prime and subprime credit cards feature various fees or surcharges, but Revvi adds some additional ones you need to know about.

The usual charges are here, like the annual and one-time program fees. But there are also charges for things you might normally take for granted, like credit limit increases. Revvi charges a fee of 25% of the amount of any increase in your credit limit. While that charge will likely be small, considering the $300 starting credit limit, it is still frustrating.

Other charges to be wary of include a fee for additional cards ($29 per year) should you want to add a friend or loved one to your Revvi account, a $10 premium card design option, and a service fee of $8.25 per month. Fortunately, that monthly service fee is waived for the first year, but another $99 per year fee might be too much for some.

FAQs About Revvi Card

Here are some frequently asked questions (and answers) regarding the Revvi Card Visa credit card:

Here are some frequently asked questions (and answers) regarding the Revvi Card Visa credit card: