Revvi Card with $300 Starting Credit Limit and 1% Cash Back
REVIEW

At A Glance: Earn 1% Cash Back, Pay with Debit Card, No Payment Hold

The Revvi Visa Card is one of the rare unsecured credit card for rebuilders that allows you to pay your credit card bill with a debit card (a feature that most subprime credit cards surprising lack). It is also one of the rare cards that has no payment holds (ie payment gets processed immediately and reflected in your credit limit) when you pay your bill with certain methods (read further to find out which methods they are). It also comes with a 1% cash back program whereby you earn 1% cash back on your payments.

The card does come with a couple of quirks that you should be aware of. Firstly, you cannot pay at the pump and have to pay at the cashier when you use it at a gas station (I assume this is to reduce fraud). You will also be eligible for a credit limit increase after 12 months (which some of you might find that to be too long).

In this review, we will dissect this card, compare it other similar subprime credit cards and give your our verdict and recommendations. Read on.....

Pros	Cons
Earn 1% Cash on payments	Only start redeeming cash back 6 months after getting the card
Can Pay by debit card	have to pay program fee
No Payment Holds for certain payment methods	Eligible for credit limit increase only after 12 months
Can pay via mobile app, online or by phone	Cannot pay at the pump and have to pay at the cashier at gas stations
Approves those with mid 500 credit scores
Reports to 3 major credit bureaus

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
• Have to provide employers name and phone number if you are on W2
• Fill out 3 pages on the online application (many folks fill in only one page and do not get approved)

Card Details

Annual Fee	$75 for 1st year, then $48
Program 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%
Bank Issuer	MRV Bank
Marketed By	Vervent

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 $174.

Program 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 35.99%. 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

Payment Methods and Payment Hold Policies

The Revvi Visa Credit Card offers cardholders various payment methods that will result in immediate processing and payment amounts will reflect instantly on their credit limit. If you pay via Money Order, Cashiers Check and Pay Near Me, your payments will process immediately and credit will be made available once the payment is processed. Essentially, there are no payment holds when you pay using the above methods.

Aside from these, you can also make a payment via check, through your mobile, at their payment website myccpay.com and over the phone. You can use either your checking account or debit card. In fact, the Revvi Visa Card is one of the few credit cards that accept payment by debit card. However, payment by these other methods may result in a payment hold of more than 14 days (though most of you will just experience a few days of payment hold).

Analysis: Total Fee to Credit Limit Ratio

The Total Fee to Credit Limit ratio is what we use to analyze unsecured credit cards for people with bad credit. The reason is that these cards tend to come with fees like annual fee, monthly fee (especially from the second year onwards) and a one-time processing fee. What this ratio measures is how much fees are you paying relative to the credit limit you are getting. In our opinion, you do not want to be paying more than 20% to 25% of your total credit limit in fees. For a card like the Revvi Visa Card which has a cash back program, we will subtract the cash back earned from the total fees since the cash back actually helps to offset the fees that you pay.

Total Fee to Credit Limit Ratio During the First Year

When you first apply for the Revvi Visa Credit Card, you have to pay a one-time processing fee of $95. You will also be charged an annual fee of $75 for the first year. So the total fee for the first year is $(95 + 75) = $170. The initial credit limit $300. So if we take $170 divided by $300, we get $170/$300 = 56.67%. That means that during the first year, the fees you pay are 56.67% of the credit limit you get. But we still have to factor in the cash back you can earn. If you use your whole credit limit (assuming this to make calculations simpler), you will earn 1% X $300 = $3 a month in cash back and hence $3 X 12 = $36 of cash back in a year. We should now calculate the Total Fee to Credit Limit Ratio factoring in the cash back you earn. The new ratio is $(170-36)/$300 = 44.67%. This is much better than 56.67% without the cash back but still high.

Total Fee to Credit Limit Ratio From 2nd Year Onwards

From the second year onwards, the annual fee declines from $75 to $48. But Revvi Visa will start to charge a monthly fee of $8.25. This works out to $8.25 X 12 = $99. Hence, the total fee from the second year onwards is $(48 + 99) = $147. The Total Fee to Credit Limit Ratio from the second year onwards is $147/$300 = 49%, which is slightly lower than the 56.67% for the first year. If we assume that you use your whole $300 credit limit every month, we will earn $3 in cash back every month (1% of $3 and assuming you pay in full every month) and $36 a year. The Total Fee to Credit Limit Ratio when we factor in cash back is $(147 - 36)/$300 = 37%.

We also have to remember that you might get a credit limit increase after the first year. If that happens, then the Total Fee to Credit Limit ratio will be lower.

Competition

Card Annual Fee (AF) Monthly Fee (MF) Program Fee (PF) Credit Limit (CL) Fees/Credit Limit Ratio (TFCL) Fees/Credit Limit Ratio (cashback)
Revvi Visa AF = Y1 = $75, then $48 MF = Y1 = $0, then $8.25/month = $99/year PF = $95 CL = $300 TFCL = Y1 = $(75+95)/$300 = 56.67% Y2 = $(48 + 99)/$300 = 49% TFCL (Cash Back) = Y1 = $(75+95-36)/$300 = 44.67% Y2 = $(48 + 99 - 36)/$300 = 37%
First Digital AF = Y1 = $75, then $48 MF = Y1 = $0, then $8.25/month = $99/year PF = $95 CL = $300 TFCL = Y1 = $(75+95)/$300 = 56.67% Y2 = $(48 + 99)/$300 = 49% TFCL (Cash Back) = $(75+95-36)/$300 = 44.67% Y2 = $(48 + 99 - 36)/$300 = 37%
First Access AF = Y1 = $75, then $48 MF = = $0, then $8.25/month = $99/year PF = $95 CL = $300 TFCL = Y1 = $(75+95)/$300 = 56.67% Y2 = $(48 + 99)/$300 = 49% TFCL (Cash Back) = Y1 = $(75+95-36)/$300 = 44.67% Y2 = $(48 + 99 - 36)/$300 = 37%
Total Visa AF = Y1 = $75, then $48 MF = Y1 = $0, then $8.25/month = $99/year PF = $95 CL = $300 TFCL = Y1 = $(75+95)/$300 = 56.67% Y2 = $(48 + 99)/$300 = 49% TFCL (Cash Back) = Y1 = $(75+95-36)/$300 = 44.67% Y2 = $(48 + 99 - 36)/$300 = 37%

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, rates, initial credit limit and also the 1% cash back program. All of them will only increase your credit limit after having their cards for 12 months.

However, there are two differences between the Revvi and other Vervent credit cards which are worth mentioning. The first is that when you use your Revvi Visa Card at gas stations, you have to pay at the cashiers inside the gas station. You cannot pay at the pump. There appears to be no such restrictions for the other Vervent credit cards.

The second big difference is that as party as payment with third party digital payment system goes, Revvi only allows you to pay via PayNearMe and not Moneygram or Western Union. If you normally pay your credit card bills with MoneyGram or Western Union, then Revvi Visa is not for you. The First Digital Mastercard accepts payment from PayNearMe, MoneyGram and Western Union and is probably the better choice if you use either MoneyGram or Western Union to pay your bills.

Compared to other subprime cards with cash rewards

Card Annual Fee (AF) Monthly Fee (MF) Program Fee (PF) Credit Limit (CL) Fees/Credit Limit Ratio (TFCL) Fees/Credit Limit Ratio (cashback)
Revvi Visa $300 Credit Limit AF = Y1 = $75, then $48 MF = Y1 = $0, then $8.25/month = $99/year PF = $95 CL = $300 TFCL = Y1 = $(75+95)/$300 = 56.67% Y2 = $(48 + 99)/$300 = 49% TFCL (Cash Back) = Y1 = $(75+95-36)/$300 = 44.67% Y2 = $(48 + 99 - 36)/$300 = 37%
Revvi Visa - $500 after Year 1 AF = Y1 = $75, then $48 MF = Y1 = $0, then $8.25/month = $99/year PF = $95 CL = $300, then $1,000 after Year 1 TFCL = Y1 = $(75+95)/$300 = 56.67% Y2 = $(48 + 99)/$300 = 49% TFCL (Cash Back) = $(75+95-36)/$300 = 44.67% Y2 = $(48 + 99 - 36)/$5000 = 22.2%
Revvi Visa - $1,000 after Year 1 AF = Y1 = $75, then $48 MF = = $0, then $8.25/month = $99/year PF = $95 CL = $300 TFCL = Y1 = $(75+95)/$300 = 56.67% Y2 = $(48 + 99)/$300 = 49% TFCL (Cash Back) = Y1 = $(75+95-36)/$300 = 44.67% Y2 = $(48 + 99 - 36)/$1,000 = 11.1%
Fortiva Mastercard $1,000 Credit Limit AF = Y1 = $175, then $49 MF = Y1 = $0, then $12.50/month = $150/year PF = $0 CL = $1,000 TFCL = Y1 = $175/$1,000 = 17.5% Y2 = $(49 + 150)/$1,000 = 19.9% TFCL (Cash Back) = Y1 = $(175 - 108)/$1,000 = 6.7% Y2 = $(49 + 150 - 108)/$300 = 9.1%
Fortiva Mastercard $700 Credit Limit AF = Y1 = $175, then $49 MF = Y1 = $0, then $12.50/month = $150/year PF = $0 CL = $700 TFCL = Y1 = $175/$700 = 25% Y2 = $(49 + 150)/$700 = 28.42% TFCL (Cash Back) = Y1 = $(175 - 108)/$700 = 9.57% Y2 = $(49 + 150 - 108)/$700 = 13%
Fortiva Mastercard $500 Credit Limit AF = Y1 = $175, then $49 MF = Y1 = $0, then $12.50/month = $150/year PF = $0 CL = $500 TFCL = Y1 = $175/$500 = 25% Y2 = $(49 + 150)/$500 = 28.42% TFCL (Cash Back) = Y1 = $(175 - 108)/$500 = 13.4% Y2 = $(49 + 150 - 108)/$500 = 18.2%
Fortiva Mastercard $400 Credit Limit AF = Y1 = $175, then $49 MF = Y1 = $0, then $12.50/month = $150/year PF = $ CL = $400 TFCL = Y1 = $175/$400 = 43.75% Y2 = $(49 + 150)/$400 = 49.75% TFCL (Cash Back) = Y1 = $(175 - 108)/$400 = 39.25% Y2 = $(49 + 150 - 108)/$400 = 22.75%
Fortiva Mastercard $300 Credit Limit AF = Y1 = $175, then $49 MF = Y1 = $0, then $12.50/month = $150/year PF = $ CL = $300 TFCL = Y1 = $175/$300 = 43.75% Y2 = $(49 + 150)/$300 = 49.75% TFCL (Cash Back) = Y1 = $(175 - 108)/$300 = 22.33% Y2 = $(49 + 150 - 108)/$300 = 30.33%

Though there are a few subprime credit cards that have cash back, I want to compare the Revvi Visa with the Fortiva Mastercard and the Aspire credit card because they both have the same fees and they both offer cash back rewards. The Fortiva and Aspire are identical and so I have simply used Fortiva in the table comparison above.

Fortiva will either give you a $300, $400, $500, $700 or $1,000 credit limit and each one has different fees. Like Revvi, their first year annual fee is high and is then reduced from the second year onwards. And from the second year onwards, they charge a monthly fee just like Revvi. However, unlike Revvi, both Fortiva and Aspire do not charge any one-time processing fee.

While Revvi has a flat rate cash back program, both Fortiva and Aspire have a bonus category cash back program whereby you can earn 3% cash back on gasoline, grocery and utility bills.

For the purpose of this comparison and analysis, I am going calculate the Total Fee to Credit Limit Ratio for Revii assuming a $300 credit limit, a $500 credit limit after the first year (ie CLI from $300 to $500) and having a $1,000 credit limit from the second year onwards. This facilitates better comparison with the Fortiva Mastercard. I am also going to assume that you only spend $300 a month on the card regardless of credit limit to simplify the calculations.

As you can see in the table above, the Total Fee to Credit Limit Ratio (TFCL) ratio for both the Revvi and Fortiva are about the same within similar credit limits. For example, if we assume both have $300 credit limit, the TFCL ratio is 37% vs 30.33% for Revvi and Fortiva respectively assuming they earn cash back on $300 of monthly spending. If they both have $500 credit limit, then the TFCL ratio is 22.2% and 18.2% respectively. At $1,000 credit limit, the TFCL ratio is 11.2% to 9.1% for Revvi and Fortiva respectively.

So in terms of the TFCL ratio, Fortiva has the slight edge. However, as mentioned earlier, if you choose certain payment methods, Revvi will process those immediately and be reflected in your credit limit after it is processed. With Fortiva, you may face a few days of payment hold on your credit limit (which is not uncommon for subprime credit cards).

Compared to cards which Increase Credit Limit Sooner than Revvi

Card Annual Fee (AF) Monthly Fee (MF) Program Fee (PF) Credit Limit (CL) Fees/Credit Limit Ratio (TFCL) Fees/Credit Limit Ratio (cashback)
Revvi Visa $300 Credit Limit AF = Y1 = $75, then $48 MF = Y1 = $0, then $8.25/month = $99/year PF = $95 CL = $300 TFCL = Y1 = $(75+95)/$300 = 56.67% Y2 = $(48 + 99)/$300 = 49% TFCL (Cash Back) = Y1 = $(75+95-36)/$300 = 44.67% Y2 = $(48 + 99 - 36)/$300 = 37%
Revvi Visa - $800 after Year 1 AF = Y1 = $75, then $48 MF = Y1 = $0, then $8.25/month = $99/year PF = $95 CL = $300, then $8,000 after Year 1 TFCL = Y1 = $(75+95)/$300 = 56.67% Y2 = $(48 + 99)/$800 = 18.37% TFCL (Cash Back) = $(75+95-36)/$300 = 44.67% Y2 = $(48 + 99 - 36)/$800 = 13.875%
Fit Mastercard AF = $99 MF = = $0, then $6.25/month = $99/year PF = $89 CL = $400, $800 after 6 months TFCL = Y1 = $(99+89)/$400 = 47% Y2 = $(99 + 75)/$800 = 21.75% TFCL (Cash Back) = No Cash Back

One of the criticisms of the Revvi Visa credit card is that you are only eligible for a credit limit increase after having the card for 12 months. You also have to pay a credit limit increase fee that is equal to 25% of the actual credit limit increase. So I am now going to compare this with a credit card from Continental that has an almost similar starting credit limit will will double your credit. And that card is the Fit Mastercard.

The Fit Mastercard, like the Revvi Card, has annual fees, monthly fees from the second year onwards and also a one-time processing fee. Their starting credit limit is $400 (almost similar to Revvi). But if you pay on-time for the first 6 bills, your credit limit will double to $800. This is a feature that not many subprime credit cards have.

The table above shows the differences between Revvi and Fit and also their Total Fee to Credit Limit Ratio. Because Revvi Visa allows you to earn cash back, their TFCL ratio is always better than Fit Mastercard at the same credit limits. But if you do not get a credit limit increase after a year, the Fit Mastercard will be better simply because your credit limit will double to $800 as long as you pay your first 6 bills on time.

Benefits: Reasons to Like Revvi Visa

• 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.


• Can Pay with Debit Card - Revii is one of the very few credit cards that allow you to pay for your credit card bills with a debit card. Strangely enough, most issuers do not allow that even though your debit card is very often linked to your checking account which you use to pay these bills!


• No Payment Hold or Credit Limit Holds with certain payment methods - If you pay your bills with Money Orders, Cashiers Check or PayNearMe, payments will be processed immediately and once processed immediately made available to your credit limit.


• 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.

FinePrints You Should Be Aware Of

• 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 program fee - Before you can use your card (or rather just after approval), you have to pay a $95 activation fee (one-time only) to activate the card.


• Credit Limit Increase Only After 12 Months - Your initial credit limit of $300 will not be considered for an increase until you have been a cardholder for 12 months. This is quite uncompetitive as many subprime credit cards offer credit limit increases just after a few months of timely payment. Furthermore, you will be charged a credit limit increase fee which is 25% of the credit limit increase amount. This is very steep and quite unheard of even in the subrpime credit card world.


• Cannot pay AT THE PUMP - When you stop at a gas station to fill up your tank, you literally have to go to the cashier to pay your bill. You cannot pay at the pump and this is a real incovenience.


• Cannot pay via MoneyGram or Western Union - Revvi only allows you to pay via PayNearMe and not MoneyGram or Western Union.

Our Take: No Payment Hold, Can Pay by Debit Card

The Revvi Visa Card is an unsecured credit card for those who have mid 500 credit scores or above. It comes with the usual fees that many subprime credit cards charge (like annual fees, monthly fees and a one-time processing fee). However, it compensates with a 1% flat rate cash back program which you earn when you pay your bills (not when you spend on your card).

There are two features that will attract some of you. Firstly, you can pay your credit bills with a debit card. And this is quite a rare thing even among subprime credit cards as most issuers do not allow you to pay with a debit card even though most of your debit cards are linked to the checking account which you use to pay the card! The second feature that will attract many people is that if you pay your card using Money Orders, Cashiers Check or PayNearMe, payment is processed immediately and made available to your credit limit. Many subprime credit cards can take days or even up to 10 or 14 days of payment holds.

There are some not so good things which you should be aware of. You cannot use this card at the pump and have to pay at the cashiers when you fill up your gas tank. You are stuck with a $300 credit limit until at least 12 months when you become eligible for a credit limit increase (and they charge a hefty fee for that as well). And the fees you have to pay are high as well.

But if paying by debit card or having no payment holds are very important to you, then you might just want to consider the Revvi Visa card despite it's flaws.

Despite being a subprime credit 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 worst). 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 3.5/5 for allowing you to pay with a debit card, having no payment holds for certain payment methods, it's 1% cash back program and having a variety of ways to pay your card. It's high fees, availability of credit limit increases only after 12 months and inability to pay at the pump prevents us from giving this card a higher rating. If you are looking for a card that allows you to pay with a debit card and want to avoid payment holds, then the Revvi Visa card is one that you might want to look at.

Cardholders Review

I have had my Revvi Card for 8 months now, and I really like the ability to use it where ever I go. One of the frustrating things I have faced is that each time the mobile app updates to a new version, something always breaks. One thing to note is that once you make a payment, you have to wait for 5-7 days before submitting another payment (if you are the type that likes to pay more than a month).

Everyone seems to have problems with Revvi. But it is working perfectly fine for me. My payments get reported to my credit bureaus on time and it is really easy to pay. I have paid through the website portal, through the app and am now set on autopay. I do miss the red background in the app and occasionally there are biometric login problems especially when there is an update. But overall, this card is serving it's purpose of helping me rebuild my credit.

Alternatives to Revvi

If want to pay via MoneyGram or Western Union

If you are the type that pays your credit card bills through MoneyGram or Western Union, then the Revvi Visa is not your card. You should consider the First Digital Mastercard instead. It is the same features, fees and rewards as Revvi but they allow you to pay via MoneyGram and Western Union. And since MoneyGram and Western Union are considered guaranteed funds by First Digital, they will be process immediately and also reflected in your credit limit after payment is processed.

If you want higher credit limit and if you are uncomfortable giving your employers phone number during application process and if you want to be able to pay at the pump

One of the little known fact about the Revvi Visa Card is that if you are on a W2, you have to fill in your employers name and phone number during in the online application. Some of you will undoubtly not be comfortable with that. Another concern about this card is that you are only eligible for a credit limit increase after 12 months and there is no guarantee that you will get an increase. If these are your concerns, then I would recommend at a card like the Surge Mastercard from Continental Finance. This card has a pre-approval process where you might be offered a version with either a $300, $500, $750 or $1,000 starting credit limit. The limit will double if you pay your first 6 bills on time. Furthermore, you do not have to fill in your employers phone number and company you work for.

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