If you are looking for a new credit card, you should definitely be considering this Revolut option. The card includes a number of great features that make it stand out when compared to others.
In this article, we will be discussing the new Revolut card in detail, including how you can apply and what the requirements are. More so, we will mention some of the best features of the card and what your monthly fees will be.
- The Revolut Credit Card
- How to Apply
- For the First 62 Days…
- Are there Hidden Fees?
- Get an Answer Within a Few Days
- Your Creditworthiness
- How Much Does it Cost?
- The Effective APR
- Bank’s Contact Details
The Revolut Credit Card
The Revolut credit card can be signed up for in a matter of minutes.
If you are searching for a great deal that takes your monthly income into account, this card could be the best option for you.
More so, you will be able to apply for a credit limit of your choice, with the maximum value lying at £3,700. The Revolut credit card offers the same low fx rates as with their debit cards.
On top of this, you will not have to pay any additional fees each month if you make more than 10 transactions with the card. With a low APR, this credit card is affordable and a great option for anyone.
Card Description
The Revolut credit cards offer a low interest rate and are specifically designed for clients who make a lot of purchases by card.
You will gain access to a number of great features and benefits after signing up for the Revolut card. We will discuss a number of these advantages below.
How to Apply
A major advantage of signing up for the Revolut credit card is the fact that the process is so easy. In fact, there are a number of ways in which this can be done.
Most clients simply log on to the official website in order to start the application process. Here, you will start by inserting your phone number into the relevant text box.
The website will then take you through the process of filling out the necessary forms and applications. You could also download the new Revolut app, which can be used to open an account.
This app also includes a number of helpful features that make it very easy to manage your card. You can download the app from the Google Play Store or the Apple App Store.
The Revolut Website
If you are looking for more information regarding the Revolut credit card, be sure to check out the website.
Their page discusses everything that you need to know about the card, including a number of important features and terms.
Fees for the First 62 Days…
Another massive benefit of signing up with Revolut is the fact that you will not pay any interest on purchases made within the first 62 days.
This is a very unique feature that not many other banks include in their packages.
On top of this, your monthly fees will be drastically reduced if you make more than 10 transactions a month after this 62 day period.
This Revolut credit card is incredibly affordable, making it a great option for just about anyone.
Other Popular Features
You can make a Revolut account for no fee at all. More so, your account is very easy to manage due to the user-friendly website and online banking app.
Revolut offers a great feature that allows users to put money aside in order to earn interest.
On top of this, if you have a Revolut account, you will be able to take out small loans whenever you choose. In fact, you can take out up to £9,300.
Are there Hidden Fees?
With most credit cards, there are a number of hidden fees that only make themselves apparent after you have taken out an account.
However, with Revolut, you will not have to worry about this, as the bank is completely transparent when it comes to pricing, fees, and costs.
In fact, after sending in your application and having it approved, the bank will send you a list of your monthly costs. You will also not have to pay any extra fees when spending money abroad.
In other words, you will face no additional charges when spending in different currencies. There is a 2% withdrawal fee at ATMs (minimum charge of £2).
What Makes this Credit Card Unique?
The bank automatically tracks your card’s activity when you travel between countries, making the process quick, easy, and convenient. It is exceptionally easy to open an account with Revolut.
On top of this, the card is convenient to manage, thanks to the new mobile banking app. Instant payments to Revolut users, local payments, and adding payments to your account are free.
You will be able to make payments through this app, as well as take out loans, track your monthly payments and check for any outstanding fees.
Get an Answer Within a Few Days
When taking out a credit card, it can take weeks to have your application approved. However, with Revolut, you will know whether or not you qualify for the credit card within just a few days.
After this reply, you will be required to answer a few questions about your monthly income and past financial reliability.
It is important to remember that your application will not be accepted if you have a poor financial history.
For example, if you have any delinquencies when it comes to repaying loans, you are very unlikely to qualify for the Revolut credit card or loans.
Fast, Efficient, and Reliable
Once you have received your Revolut credit card, you can start spending instantly.
As we have already mentioned, you can make purchases online or on the mobile banking app.
Once your application has been approved, you will receive your card in a matter of days, making the process incredibly fast and efficient.
Your Creditworthiness
As we have already mentioned, your creditworthiness is of utmost importance when taking out a credit card.
In order to be approved as a candidate, you will need to prove that you have a sufficient and reliable monthly income. The bank will use your credit score as a way of determining this information.
Unfortunately, if your income does not exceed a certain amount, you will not be approved for the credit card.
For this reason, it is recommended that you take the online test in order to determine your credit score before submitting your application.
Take the Online Test
There are different online tests that can be taken in order to determine your credit score.
With that being said, there are also companies that you can work through. Either way, you will have to pay a small fee to be provided with this information.
It is also important to note that the standards of every bank are also different.
How Much Does it Cost?
The Revolut credit card is much more affordable when compared to competitor options.
With this card, you will be required to pay a monthly fee of £2 if you do not make a minimum of 10 purchases within this time period.
More so, you will not be charged any interest on purchases made after your last statement if you pay your balance in full at the start of every month.
If the whole balance is not paid off on time each month, you will be charged interest on the purchases that appear on your account.
Late Payments
In order to avoid late payments, it is recommended that you download the official Revolut banking app.
With this platform, you can set reminders at the start of every month. More so, you will be able to pay all your fees through the app, making the process much simpler and easier.
For more information regarding the fees and costs of opening a Revolut account, you can visit the website.
The Effective APR
Your monthly income drastically affects your effective APR.
In short, the amount of money you spend every month should be paid back at the end of that month with a small sum of interest added on.
The APR includes a bunch of additional costs, including the cost of having an account open.
Determine Your Monthly APR
By visiting the Revolut website, you will be able to determine exactly what your APR value will be according to your credit score.
Bank’s Contact Details
Before applying for this account, it is highly recommended that you contact the bank in order to find out more about the credit card.
There are a bunch of additional terms and conditions that you should know about before making the investment. There are numerous ways in which you can contact Revolut.
You can call them on +442033228352. Their address is located at Revolut Limited, 4th Floor, 7 Westferry Circus, E14 4HD London, United Kingdom.
To send them an email, simply use the account [email protected]
Get the New App
You can also use the app to send any queries or complaints to the bank.
If you are considering opening an account with Revolut, you should definitely download this platform, as it makes everything that much easier.
The app can be used to manage your account, as well as keep in contact with customer support staff.
Summary
If you are looking for a new credit card, Revolut should definitely be up there on your list of considerations. This credit card includes a number of great features and benefits.
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.