Revolut Credit Card Review - April 2024
Revolut Credit Cards are very new in the Irish Market and it was only introduced in February 2023. The credit card offers both initial interest free period as well as cash back. There is a spending control feature also added to the credit card account. Certain fees such as over limit fees and no returned payment fees are waived.
About Revolut: Revolut, authorised and regulated by the central bank of Ireland, is a neo bank which specialises in international finance and investing app. If you are someone that prioritises day to day international financial services, comfortable with managing your money on the go and a frequent traveller. Revolut product will appeal to you. Revolut Credit Cards is the latest addition to the Revolut financial superapp, which allows its customers to have more control and flexibility over their personal finances in a responsible way.
We have compiled these resources without taking into account your personal objectives, circumstances, financial situation or needs. Therefore, before acting on any information contained on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs, and seek professional advice where appropriate. You can read the full Terms of Use.
Summary:
Revolut Credit Card is a very impressive card, with so may layers of offers. You get a 1% cashback* on every cashless transaction for up to three months from account opening, or up to €1,000 – whichever comes first. In addition to this you get an interest free on purchases and balance transfers for 3 months.
Pros:
- 0% interest on purchases and balance transfers for 3 months from account opening
- 1% Cashback for up to 3 months when you spend up to €3,000 (after that, the rate is 0.1%).
- APR 17.99% with a variable interest of 13.34%
- No annual fee
- Credit limit up to €10,000
Cons:
- Complex fee structure
- No Additional Credit Card
- No loyalty and rewards program available
Revolut Credit Card
- Annual Fee: €0
- Intro Offer: 0% on all purchases and balance transfers for 3 months
- Cash Back: 1% cashback on purchases for the first three months when you spend up to €3,000 (after that, the rate is 0.1%).
- Interest Rate: 13.34% variable on all purchases
- APR: 17.99% variable
- Currency Conversion Fee (POS/ATM): Not clear
- Stamp Duty: €30 annually
- Additional Card Fee: €0
- Late Payment Fee: €10
- Cash Advance Fee: 2%
Revolut Credit Card Product Details
- Intro Offer: Pay no interest on purchases and balance transfers for 3 months from account opening
- Cash Back Offer: Get 1% cashback* on all purchases for the first three months when you spend up to €3,000 (after that, the rate is 0.1%).
- Annual fee of €0 and €30 Government stamp duty.
- APR 17.99% and interest rate of 13.34%
- Autopay Settlement and Budget Limits: The Revolut Supper app enables you to get notified about upcoming payments on your credit card account, or settle your balance automatically with Autopay. You are able to manage your spending and apply budget limits.
- Security features: Revolut provides a disposable virtual credit cards for one-off purchases as an extra protection. You can freeze and unfreeze your card any time in-app.
- Luxury and Shiny Card.
View Terms and Conditions
Compare Similar Credit Cards
Revolut Credit Card
Annual Fee €0
Introductory Offer: 0% on all purchases and balance transfers for 3 months. 1% cashback on purchases for 3 months
APR: 17.99% Variable
An Post Classic Card
Annual Fee €0
Introductory Offer: Credit card that offers 0% APR on balance transfers for 12 months. Best alternative for a credit card balance transfer.
APR: 22.9% variable
AIB Platinum Card
Annual Fee
€0
Intro Offer: Spend over €5,000 and up to €50,000 for a 0.5% of that amount back max is €225 per year. Offers premium benefits with no annual fees.
APR: 17% Variable
What are the Benefits and Perks of Revolut Credit Card?
Card type: It is a Cash back card.
Annual fee: The Revolut Credit Card charges no annual fee except the government stamp duty.
Intro Offer Interest free Rate: 0% fixed interest free on purchases and balance transfers for first 3 months as long as the minimum monthly payments are made. After the interest free period, if you make your repayments on time, and in full, and you’ll continue to enjoy interest-free spending.
Cash Back Offers: 1% cashback* on all purchases for the first three months when you spend up to €3,000 (after that, the rate is 0.1%). Cashback is available for all transactions in the EU and US. It doesn’t apply to cash payments or bank transfers
17.99% APR: The APR is relatively low compared to other cards. For illustration purposes, for a credit card limit €1,500 and makes of single purchase of €1,500 and its repaid in 12 equal instalments over a 12 month period, at a variable interest rate of 13.34% Annual Percentage Rate (APR) 17.99%, the total cost of credit would be €110.58, the total amount repayable (including Government Stamp Duty charge of €30) would be €1,640.58.
» MORE: Best Cash Back Credit Cards
Autopay: You can make your auto repayment easily with the autopay feature. You can get notified about upcoming payments, or settle your balance automatically with Autopay. On your Revolut app, you can manage your spending and apply budget limits.
Card Security: Protect yourself online with disposable virtual credit cards for one-off purchases. And if you need to freeze your card, you can do it any time in-app. Receive notifications in case of suspicious transactions. Get a single-use virtual card to hide your real card info online
You Might Want To Consider a Different Credit Card
0.5% Cashback available elsewhere: After the 3 months 1% cashback, Revolut credit card offers 0.1% cash back however you can find a credit card that offer a slightly higher percentage . AIB Platinum Visa Card has no annual fee and you can earn 0.5% cash back of a maximum of £225 in each 12 months
Longer 0% interest free rate: The 0% interest free rate for balance transfers is only for 3 months, is not much of an incentive to keep using the Revolut Card if you are prioritising balance transfer. There are cards that offer longer time periods. So if you are looking to carry balance from an existing credit card into a new one for a longer period, An Post Classic Credit Card is your best alternative. You are able to lower your interest payments on balance transferred for up to 12 months
Other Credit Card Rewards: Some credit card rewards include Travel insurance, Visa luxury hotel collection and Mastercard priceless exclusive offers and experiences. Revolut Credit Card has not indicated that they have such rewards for their customers.
See our Coins to Asset Best Credit Cards in Ireland reviews to compare with other cards.
Frequently Asked Questions
What is the credit limit for a Revolut Card?
The Credit limit approved to you is based on personal circumstances and financial history and it will be a personalised credit limit that suits you. The Revolut credit card limits that is offered is normally between €500 to €10,000.
How do you activate your Revolute credit card?
Normally and mostly due to security of customer cards, Revolut physical cards have contactless and online payments disabled by default. You will have completed your personal ID check first before you can activate the card. To activate your credit card and get it ready for use, you will need to go to your Revolut app to enable it. Go to the Cards tab and select the card you need to activate and tap "activate now". You only need to do this once.
Is Revolut credit card safe?
Revolut as a neo bank is Safe. It is approved and authorised by the Central Bank of Ireland. This means it has a banking licence to operate fully and its deposit is guaranteed for up to €100,000 by the Lithuanian State company Deposit and Investment Insurance. The Credit card has good security features that is useful to protect you. Freezing and Unfreezing your card is available in case you loose it. If you are afraid to expose your card details, you can opt for a one time virtual card.
How do you apply for a Revolut credit card?
Applications are made directly on the Revolut Super app and if you are eligible you will be approved instantly.
What credit history do you need to get a Revolut credit card?
Revolut is a responsible lender and will only approve credit after taken into account income, repayment capacity and credit history.
Review Methodology
Coins to Asset reviews credit card across many the factors. We analysed popular 14 credit cards available in Ireland to come up with the best cards for you. We looked at fees, interest rates, rewards and cash backs including the ease of redeeming the rewards. We also considered the monetary value of the benefits and perks and the overall value add of the card to the cardholder. Part of our review includes ease of credit card application, the simple reward structure, attractiveness of the features, and whether the card suits everyday use or best reserved for specific purchases. We give star ratings serve as a general guide of our comparison but it is only a consideration when you are choosing a credit card not a rule. Learn how Coins to Asset Rates Credit Cards.
Lynda Unogu MBA IMC (CFA UK) PMP
Lynda holds an MBA from University College Dublin and worked previously in product roles within financial services and technology firms like Mastercard, Citi Bank and JP Morgan. She constantly seeks to apply her expertise in financial services to the field of personal finance with the goal of helping people navigate the complexities of the finance.
Let us know your experience with Revolut Credit Cards.
