What the Revel Credit Card Is
Revel is a credit card issued by Coastal Community Bank that targets people building or rebuilding credit. It works like a standard credit card — you charge purchases, receive a monthly bill, and build a credit history as you pay — but it requires a cash deposit upfront that acts as collateral. The deposit becomes your credit limit, so if you put down $500, you can charge up to $500.
The card reports to all three major credit bureaus (Equifax, Experian, and TransUnion), which means your payment history shows up on your credit report. This is the main reason someone would choose a secured card: to create a record of on-time payments that raises a credit score over time.
Key Takeaways
- Revel requires a cash deposit that becomes your credit limit, ranging from $200 to $2,500 depending on the bank's current terms.
- The card charges an annual fee and a monthly maintenance fee, both of which reduce the value compared to unsecured cards.
- Payment history reports to all three credit bureaus, so consistent on-time payments will gradually improve your credit score.
- After 18 months of on-time payments, you may be able to convert the card to an unsecured card and recover your deposit.
- A secured card makes sense only if you cannot get an unsecured card; if you can, an unsecured option with no deposit is cheaper.
Deposit, Fees, and Interest Rate
The deposit requirement is the defining feature of a secured card. You send money to the bank, and that amount becomes your available credit. Revel's deposit range has historically been $200 to $2,500, though this can change. The deposit sits in a savings account at the bank and earns little to no interest — you are essentially lending the bank your money interest-free.
On top of the deposit, Revel charges an annual fee and a monthly maintenance fee. These fees vary by issuer and change over time, so you should check Coastal Community Bank's current terms before opening an account. The monthly fee is particularly important because it compounds: a $10 monthly fee costs $120 per year, which is substantial on a small credit limit.
The interest rate (called the APR, or annual percentage rate) applies only if you carry a balance month to month. Revel's APR has historically been in the 18% to 24% range, which is typical for secured cards but higher than many unsecured cards. If you pay your full balance each month, the APR does not matter.
How Revel Reports to Credit Bureaus
The entire point of a secured card is that it reports to the credit bureaus. Revel reports to Equifax, Experian, and TransUnion, meaning your payment activity becomes part of your credit history. Each on-time payment adds to your record; each late payment or missed payment damages it.
Credit bureaus use this history to calculate your credit score. A secured card is one of the few ways to build a credit history from scratch if you have no prior accounts. However, the effect is gradual — you will not see a major score jump after one or two payments. Most people see meaningful improvement after six to twelve months of consistent on-time payments.
One limitation: secured cards often have lower credit limits than unsecured cards, which means they have less impact on your credit utilization ratio (the percentage of your available credit that you are using). Using less than 30% of your limit is ideal, but with a $500 limit, that means keeping your balance under $150. This constraint is real and worth planning for.
When Revel Converts to an Unsecured Card
Most secured cards, including Revel, offer a path to conversion. After a set period of on-time payments — typically 18 months — you can request that the card convert to an unsecured card. When this happens, your deposit is returned to you, and the card continues to report to the credit bureaus.
Conversion is not automatic. You have to request it, and the bank will review your account. If you have missed payments or carried high balances, the bank may deny the request or offer conversion with a lower credit limit. If approved, you keep the same card account, so your credit history on that account continues uninterrupted.
The timeline matters. Eighteen months is a long time to pay a monthly maintenance fee. If the fee is $10 per month, you will pay $180 in fees alone before you can convert. This is why comparing the total cost of a secured card against other options is important before you open the account.
Revel Versus Other Secured Cards
Revel is one option among many secured cards. Other issuers include Capital One, Discover, and various credit unions. The differences are usually in the deposit range, the annual and monthly fees, the APR, and the conversion timeline.
Some secured cards charge no monthly fee, only an annual fee. Some have lower APRs. Some allow you to convert after 12 months instead of 18. The best choice depends on which combination of features costs you the least and fits your timeline.
If you have access to an unsecured card — even one with a high APR or a high annual fee — it is usually cheaper than a secured card because you avoid the deposit requirement and monthly fees. Check whether you can get approved for an unsecured card before committing to a secured one. Many people with fair credit can may have access to for unsecured options.
Who Should Consider a Secured Card
A secured card makes sense in a narrow set of circumstances. You should consider one if you have no credit history (you are new to the country, very young, or have never borrowed money) or if your credit score is very low (below 580) and you have been denied for unsecured cards.
You should not consider a secured card if you already have access to an unsecured card, even if that card has a high APR or annual fee. The deposit requirement and monthly maintenance fees make secured cards more expensive over time.
You should also be honest about your ability to pay on time. A secured card only helps if you use it responsibly. If you have a history of missed payments or overspending, a secured card will not fix those habits — it will just lock up your deposit while you repeat the same patterns.
Steps to Understand Before Opening an Account
Before you open a Revel account, gather the current terms from Coastal Community Bank. These include the minimum and maximum deposit, the annual fee, the monthly maintenance fee, the APR, and the conversion timeline. Terms change, so do not rely on information from a year ago.
Calculate the total cost of holding the card for 18 months. Add the annual fee, multiply the monthly fee by 18, and add any interest you expect to pay if you carry a balance. Compare this total to the cost of other secured cards and to any unsecured cards you might may have access to for.
Read the cardholder agreement carefully. Pay attention to what triggers a late fee, what counts as a late payment (usually 30 days past the due date), and what happens if you miss a payment. Understand the conversion requirements — some banks require a certain number of on-time payments, others require a minimum credit score improvement.
Frequently Asked Questions
Can I get my deposit back before 18 months?
Not through conversion, but you can close the account and recover your deposit at any time. However, closing the account stops the credit reporting, which defeats the purpose of building credit. If you need the money urgently, you may have to choose between accessing your deposit and continuing to build your credit history.
What if I miss a payment on a Revel card?
A missed payment is reported to the credit bureaus and damages your credit score. It also triggers a late fee. If you miss a payment by 30 days or more, the bank may freeze your account or close it. Your deposit remains with the bank but does not convert to credit you can use.
Does Revel offer a rewards program?
Most secured cards, including Revel, do not offer cash back or rewards points. The fees and interest rates are already higher than unsecured cards, so issuers do not add rewards on top. If rewards matter to you, an unsecured card is a better choice.
How much will my credit score improve with a secured card?
There is no fixed amount — it depends on your starting score, your payment history, and other factors on your credit report. Some people see a 50-point improvement after 12 months; others see 100 points or more. The improvement is gradual, not when ready.
Can I increase my credit limit on a Revel card?
Yes, typically by depositing more money. If you started with a $500 deposit and add $300, your credit limit becomes $800. This is useful if you need more available credit, but it requires you to have additional cash on hand.