Revvi Card
REVIEW

Requirements

To get approved for the Revvi credit card, you need the following:

• Checking Account - have your routing number and account number in front of you when you apply because you have to pay the one-time activation fee
• FICO score of at least 550
• On-time payments for at least a year
• No recent derogatory items
• No tax liens
• Fill out 3 pages on the online application (may folks fill in only one page and do not get approved)

Card Details

Annual Fee	$75 for 1st year, then $48
Activation Fee	$95
Monthly Fee	None for first year, then $8.25 a month ($99 annually)
APR	35.99%
Grace Period	21 Days
Late Fee	Up to $41
Cash Advance APR	35.99%

Annual Fee - The annual fee is $75 for the first year. From the second year onwards, it is reduced to $48.

Monthly Fee - There is no monthly fee during the first year. From the second year onwards, it is $8.25 a month (which is $99 a year). That means that in the second year onwards, total fees amount to $123.

Activation Fee - There is an activation fee of $95 after you get approved. You have to pay this via ACH from your checking account.

Regular APR - The regular purchase APR is 34.99%. This is on the high side. Nevertheless, we always recommend that you pay in full and not carry a balance (especially for rebuilders). If you follow our advice, this should not be an issue.

Starting Credit Limit - Your starting credit limit is $300. When you get your first statement, you will be billed the $75 annual fee and your remaining credit limit will be $225 for the first month.

Cash Back Rewards^{^^}

Revii has a cash back program that allows you to earn 1% cash back from your payments. Yes, you've read it right. You earn 1% cash back for every dollar that you pay your bills and not from spending. You can start earning the cash back immediately but can only redeem it after having the card for 6 months. The cash back can be redeemed for statement credits in 500 point increments or $5. You can redeem the cash back through your mobile app, MyCCPay.com or by calling customer service. The cash back you earn never expires. To sum up, here are the key features of the cash back program.

• Earn 1% cash back from payments (not spending)
• Start redeeming cash back 6 months after having your card
• Cash back never expires
• Cash back can be redeemed in 500 points or $5 increments as statement credit
• Cash back can be redeemed via mobile app, www. MyCCPay.com or by calling customer service

Competition

Card	Annual Fee	Upfront Fee	Monthly Fee	APR	Starting Limit
Revvi Visa	$75 1st Year Then $48	$95	$0 1st Year Then $8.25/month	35.99%	$300
First Access Visa	$75 1st Year Then $48	$95	$0 1st Year Then $6.25/month	34.99%	$300
First Digital Mastercard	$75 1st Year Then $48	$95	N.A.	19.49% to 35.99%	$300
Total Visa	$75 1st Year Then $48	$89	$0 1st Year Then $6.25/month	34.99%	$300
Fortiva Mastercard	$85 - $175 1st Year Then $29 - $49	N.A.	$7.25 - $12.50/month	29.99%	$350 - $1,000
Aspire Mastercard	85 - $175 1st Year Then $29 - $49	N.A.	$7.25 - $12.50/month	29.99%	$350 - $1,000
Mission Lane Visa	$59	N.A.	N.A.	26.99% - 29.99%	$300-$1,000
Fit Mastercard	$99	$89	$6.25/month	29.99%	$400

The Revvi Visa credit card is issued by Vervent, which has a few other cards so we will be comparing it with these other cards. In addition, Revvi also has a cash back program and allows consumers with credit scores as low as 540 to apply and get approved. So we will also compare this with cards with either or both of these characteristics.

Compared to other Vervent credit cards

Aside from Revvi, Vervent has other cards like First Digital Mastercard, Total Visa and First Access Visa. All these cards cards have identical fees and rates and are only different in one way. And that is Revvi Visa offers cardholders the abiity to earn 1% cash back whereas the others do not. Compared to them, the Revvi stands out because of it's cash back feature.

Compared to other subprime cards with cash rewards

There are a few other subprime credit cards that offer cash back rewards. The first two that I want to compare the Revvi credit card to is the Fortiva Mastercard and the Aspire credit card because they both have the same fees and they both offer cash back rewards.

As far as cash back goes, both the Fortiva and Aspire cards allow you to earn a 3% cash back reward on eligible gas, grocery, and utility purchases/payments and you will earn a 1% cash back reward on all other eligible purchases. As far as fees goes, both the Fortiva Mastercard and Aspire credit card have very high fees. The fees for the first year of card membership ranges from $85 to $175. From the second year onwards, total fees range from $116 to $199. In contrast, the first year fee for the Revvi Visa is $75 and from the second year onwards, it is $123.

So though the Revvi card has inferior cash back program, their fees are much lower than both Fortiva and Aspire. Furthermore, both Fortiva and Aspire only accepts applicants with fair credit (ie 650 score and above) so for those of you with mid 500 scores, both these cards are out of the question.

Another subprime card with cash back is the Credit One Bank Platinum Rewards Visa. It has a $95 annual fee (which is lower than Revvi). You can earn 5% cash back rewards on the first $5,000 of eligible gas, grocery, internet, cable, satellite TV, and mobile phone service purchases each year, and then 1% thereafter. So from a cash back and fee perspective, Credit One is better. However, Credit One will only accepts applicants with at least 650 credit score. So once again, if your scores are in the mid 500s, you will simply not be approved for this Credit One card.

Compared to cards for 550 credit score (no cash back)

There are two other cards that I think we should compare the Revvi credit card with. The first is the Fit Mastercard. It has a $99 annual fee. From the second year onwards, there will be a monthly fee of $6.25 (same as Revvi). So Fit Mastercard has higher fees. However, the Fit Mastercard starts you off with a $400 credit limit and this will double to $800 after 6 months if you pay the first 6 minimum payments on time. Even though Revvi will periodically review account for credit limit increase, the Fit Mastercard will guarantee that after 6 months if you pay on time.

Another card worth comparing Revvi to is the Mission Lane Visa. The annual fee is only $59 and is lower than Revvi. The starting credit limit ranges from $300 to $1,000 and after paying the first 7 minimum payments on time, you will get a credit limit increase. Mission Lane Visa accepts applicants with credit scores around 550 but they are very picky on your absolute debt level. If you have a mortgage, your total debt cannot exceed $80,000 and if you do not have any mortgage, your total debt cannot exceed $20,000. If you do not care about earning cash back, the Mission Lane Visa might be worth looking at over the Revvi card.

Pros: What We Like About Revvi

• Earn 1% Cash Back - Revvi is one of the rare subprime credit cards that lets you earn 1% cash back which can be redeemed as a statement credit.


• Has Mobile App - Revvi is also one of the few credit cards for bad credit that have mobile apps for cardholders.


• Reports to 3 major credit bureaus - Revvi reports to all three major credit bureaus so using this card responsibly will help you improve your credit.


• Quick and Easy Application Process - The online application is very intuitive and it only took me 2 minutes to fill out (see below). If you get approved, you will also know almost immediate after you submit the application.


• Approves those with mid 500 credit scores - You would be surprised to learn that not all credit cards targeting bad credit folks accept applications with mid 500s score.

Cons: What we do not like about Revvi

• Can only start redeeming cash back after 6 months of having the card - Yes, it is a little bummer and it would be far better if cardholders can start redeeming cash back immediately rather than having to wait for 6 months after they have gotten their card.


• Have to pay activation fee - Before you can use your card (or rather just after approval), you have to pay a $89 activation fee (one-time only) to activate the card.

Our Take

If your credit score is in the mid 500s and you are adament on getting a unsecured credit card to rebuild your credit, then the Revvi Visa Card is a card you should consider because based on the application on our site, it appears to be one of the easier credit cards to get (if you meet the requirements). It is also one of the rare subprime credit cards that offer cash back rewards^{^^}. You can earn 1% cash back when you pay your bills on the card.

There are some criterias you should meet to increase your chances of approval. Firstly, you need a checking account to apply and your credit score should be at least 550 (540 at orst). You should have paid on time for over a year and have no recent late payments. You should also have no tax liens and preferably have not more than 2 hard inquiries over the last 6 months.

To sum up, we give the Revvi Visa a rating of 3.8/5. There are other subrpime credit cards with lower fees than Revvi. However, most of these cards will only accept applicants with at least 620 credit score. Though it does not have the lowest fees or rates, Revvi is more appropriate for those of you who have a FICO score of between 540 and 600. If this describes you and you are looking for an unsecured credit card, then the Revvi Visa credit card would be a good candidate for you.

How to Apply

Applying for Revvi Visa is a pretty quick process. You only have to fill out two pages of information. On the first page, you have to fill in your name, physical and email address, phone and/or mobile number, check the YES box for checking account. On the second page, you have to fill in your date of birth, social security number, employment status, emplyer name and phone number, net monthly income, monthly expenses. You also have to answer YES or NO as to whether you have another debit or credit card, if you intend to use the card for cash advance and if you intend to have an authorized user. On the third page, you simply verify your info, choose a card design (which did not appear on my screen), choose to receive statements via mail or electronically and check off a couple of boxes that you have read the terms and conditions. You will then know pretty soon if you get approved. If you are, you have to pay the one-time activation fee of $89 to activate your card..

Tip 1: Please get your checking account number and routing number ready. You can get these from your checkbook).

Tip 2: Fill in all the application pages. Many of you just fill in the first page and then wonder why you are not approved.



Below are screenshots of the application page.

FREQUENTLY ASKED QUESTIONS

Will my cash back earnings expire?

Will my cash back earnings expire?

Does Revvi report to credit bureaus?

Does Revvi report to credit bureaus?

Why does Revvi require that we have a checking account?

Why does Revvi require that we have a checking account?

What is the starting credit limit?

What is the starting credit limit?

Contact Infomation

Email: info@Revvi.com

Postal Address
REVVI
PO Box 85800
Sioux Falls, SD 57118-5800

Phone Number to Pay Activation Fee: 800-845-4804

Customer Service Phone Number: 800-755-9203