The Revvi Visa® Credit Card is among a cohort of cards designed for people with less-than-perfect credit. These cards often require a security deposit, but the Revvi Visa® Credit Card doesn’t. It also earns 1% cash back, although you don’t earn your cash back until you make a payment.

Revvi Visa® Credit Card

Credit score needed

credit_score_needed

Regular APR

reg_apr,reg_apr_type

Annual fees

annual_fees

Min. deposit

$0

Pros & Cons

Pros:

  • Can earn cash back after making a payment.
  • Doesn’t require perfect credit.
  • Reports to credit bureaus monthly.

Cons:

  • High fees.
  • Few benefits or perks.
  • Very high APR.

Despite its advantages, the fees on this card are extremely high, and its extra perks are few and far between. Plus, there’s no upgrade path if you want an unsecured card later. If you are considering the Revvi Visa® Credit Card, be aware of these and other caveats before you sign up.

RELATED: Best Unsecured Credit Cards for Bad Credit

TIME’s Take

The Revvi Visa® Credit Card comes with a few perks, but its high fees and annual percentage rate (APR) may outweigh any advantages this card offers. It could be worth considering if you are just starting to build your credit, but you may have other options that don’t charge so much just to use them.

Pros and cons

Pros:

  • Can earn cash back after making a payment.
  • Doesn’t require perfect credit.
  • Reports to credit bureaus monthly.

Cons:

  • High fees.
  • Few benefits or perks.
  • Very high APR.

Who is the card for?

The card_name is best for nonprime borrowers who don’t want to put down a security deposit, as is required with a secured credit card. Because this card is meant for people who don’t have perfect credit, no minimum credit score is required to apply. However, you should be aware of the fees if you apply for this card, which we will cover in more detail later.

It’s also good for people who wouldn’t normally qualify for a rewards credit card, as it earns 1% cash back. In addition, the card_name can be a good choice if you are building your credit as it reports your monthly activity to the three major credit bureaus—Experian, TransUnion, and Equifax. It also comes with free credit monitoring from TransUnion.

Features

Expensive to use

Whether you carry a balance on this card or pay it off every month, there’s no escaping its high costs. There is an annual fee and a one-time “program fee” in addition to other fees, such as late- and returned-payment fees. The annual fee is annual_fees. The program fee is $95, meaning you’ll pay no less than $170 in fees the first year. Again, this assumes you don’t carry a balance or incur other fees. If avoiding fees is a priority, you may want to look elsewhere.

Initial credit limits can be low

As mentioned earlier, the credit limit starts at $300. However, we also noted that you’ll pay at least $170 in fees in the first year. Those fees will reduce your credit limit until you pay them, meaning your starting credit limit could be as low as $130. Until you can increase your credit limit or at least pay the fees, this card may not be all that useful.

Very high APR

It’s usually a good idea to pay your credit card off to avoid interest charges, but that need is especially acute with the card_name. With a fixed APR of reg_apr,reg_apr_type for purchases and cash advances, you can ill afford to carry a balance with this card. At this APR, a $300 balance will result in $107.97 of interest, and that’s in addition to the annual fee you must pay every year.

Rewards have caveats

The card_name earns 1% cash back on every purchase, but those earnings come with several caveats. For one, you earn points when you make a payment, not when you spend money. In addition, you can only redeem points as a statement credit. While points don’t expire, you can only redeem in 500-point increments, so you will always have some points you can’t redeem yet. You can redeem points online, via the mobile app, or over the phone.

The fine print

  • Annual fee: annual_fees
  • Purchase intro APR: intro_apr_rate,intro_apr_duration
  • Balance transfer intro APR: balance_transfer_intro_apr,balance_transfer_intro_duration
  • Regular APR: reg_apr,reg_apr_type
  • Cash advance fee: cash_advance_fee
  • Late fees: Up to late_payment_fee
  • Returned payment fee: Up to $41

Additional hidden perks

Aside from 1% cash back, the card_name doesn’t have many extra features. However, as a Visa card, it may include basic Visa traditional card benefits, such as:

  • Cardholder inquiry service.
  • Lost or stolen card reporting.
  • Emergency card replacement and emergency cash disbursement.
  • Dovly Uplift.
  • ID Navigator by NortonLifeLock.
  • Zero Liability.
  • Roadside Dispatch®

Keep in mind that card benefits may vary. Contact the card issuer for specific information about card benefits and perks.

What could be improved

While this card has some advantages, there are several ways it could be improved. The most obvious is its fees, which seem excessive for a credit card geared toward those who may already be financially vulnerable. Perhaps the high APR is necessary given that it may have some high-risk customers, but having so many unavoidable fees isn’t ideal.

The other way it could be improved is its rewards program. It’s nice that this card earns rewards, which may not always be true with similar cards. However, its rewards program has too many caveats, and there are too many obstacles to redeeming points. The fact that you can only redeem points as a statement credit means there’s no way to increase the value of your points. Easier redemptions with more flexibility would be a simple way to make this card better.

Lastly, this card doesn’t include a sign-up bonus or any additional perks other than what is available through Visa. Adding a few extras like purchase protection or travel insurance would go a long way.

Card alternatives

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TIME Stamp: Be wary of fees, extra high APR and complicated rewards

The card_name is an unsecured credit card with no specific credit score requirement. It earns rewards and reports monthly activity to major credit bureaus to help you build credit. However, high fees, complicated rewards and a very high APR hold it back in a big way. While this card has potential, it’s worth taking a look at the alternatives before signing up.

Revvi Visa® Credit Card

Credit score

credit_score_needed

Regular APR

reg_apr,reg_apr_type

Annual fees

annual_fees

Min. deposit

$0

Frequently asked questions (FAQs)

Where can I use the card_name?

As a Visa card, you can use the card_name anywhere Visa is accepted. However, unlike other Visa cards, you can’t use the card_name outside the United States or make purchases in a foreign currency.

What is the card_name limit?

The initial credit limit is $300 for the card_name. However, you may be eligible for a credit increase once your account has been open for at least 12 billing cycles. You may receive a notification about this from Revvi, or you can request an increase once 12 billing cycles have passed.

What bank is card_name?

The card_name is issued by MRV Banks, an Federal Deposit Insurance Corporation (FDIC)-insured bank based in Ste. Genevieve, Mo. The bank was established in 2007 and has locations in Ste. Genevieve, Cape Girardeau, Festus, and St. Charles, Mo.

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