Revvi Card
- Best for: Applicants with poor credit turned down for every secured card
- Cost: $95 program fee; $50 to $125 annual fee the first year, then $48; $6.25 to $10.25 a month from year two; 35.99% APR
- Features: $200 to $500 credit line; 1% cash back on payments; up to 10% back at participating stores
- Pros: No deposit; monthly reports to all three credit bureaus; no monthly or cash advance fee in year one
- Cons: $145 to $220 in first-year fees; 25% fee on credit line increases; no use outside the U.S.
Skip the Revvi Card if you can spare a refundable deposit for a no-fee secured card. Its fees cost $145 to $220 in the first year, and its 1% cash back on payments won’t come close to covering them. Apply only if every secured card has turned you down.
MRV Banks offers the no-deposit Revvi Card to people with poor credit, and the Total Visa and First Access Visa charge the same fees and pay the same 1% back on payments. On a $300 credit line, charging $100 a month and paying each bill in full earns about $13 in cash back the first year, about $157 less than that year’s $170 in program and annual fees.
Key Features
- $95 one-time program fee, paid before the account opens
- Credit line of $200 to $500, with a first-year annual fee of $50 to $125 that rises with the line
- From year two, a $48 annual fee plus a monthly fee of $6.25 to $10.25, depending on the line
- 1% cash back on what you pay toward your balance, redeemable as $5 credits on your bill once the account is six months old and in good standing
- 35.99% interest rate (APR) on purchases and cash advances
Pros
- No security deposit
- Reports to all three credit bureaus every month
- No monthly fee or cash advance fee in the first year
- Cash back of up to 10% at a short list of participating stores, shown in the app
Cons
- $145 to $220 in fees the first year and $123 to $171 a year after that, depending on the line
- Annual fee charged on day one, so a $300 line starts with about $225 to spend
- No credit line review for the first 12 billing cycles, then a fee of 25% of any increase
- 35.99% interest on any balance you carry, fees included
- No use outside the U.S., at automated gas pumps, or for gambling
The Revvi Card makes sense only for applicants turned down for every secured card, because it reports to all three credit bureaus without a deposit. With a refundable deposit to spare, open a no-fee secured card instead, since its deposit comes back and these fees don’t.
Learn more about the Revvi Card or see how it compares to the best credit cards for bad credit.
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