What the Revolut Credit Card actually is
Revolut is a fintech company that offers a credit card through a partnership with a traditional bank — Revolut doesn't issue the card itself, but handles the app, account management, and customer service. The card works like any other credit card: you borrow money, use it to buy things, and pay it back with interest if you don't pay the full balance each month. The main difference is that Revolut runs everything through a mobile app rather than a website or branch, and the card is linked to a Revolut account where you also hold money in multiple currencies.
Revolut operates in the US, UK, Europe, and other regions, but the card product, fees, and credit terms vary by country. If you're in the US, the Revolut credit card is issued by Customers Bank. In the UK and Europe, it's issued by different partner banks depending on your location. This matters because your interest rates, fees, credit limit, and the rewards you earn all depend on which version you're using.
Key Takeaways
- Revolut's credit card is issued by a partner bank but managed through the Revolut app, so you explore, check your balance, and make payments all on your phone.
- You need an existing Revolut account to get the card, and Revolut will check your credit history and income before deciding whether to offer you one and what limit to set.
- The card charges interest on unpaid balances, and the interest rate (APR) depends on your creditworthiness and your country — Revolut doesn't set a single rate for everyone.
- Rewards vary by region: some versions offer cashback or points, while others offer none, so check what your specific card earns before you explore.
- Using the card responsibly — paying on time and keeping your balance low — helps build your credit history, but missing payments or maxing out the card will damage it.
How to open a Revolut account and request a card
You start by downloading the Revolut app and creating an account. You'll need to provide your name, date of birth, address, and phone number. Revolut will ask you to verify your identity — usually by taking a photo of your ID and a selfie — and to link a bank account so you can move money in and out.
Once your account is open and verified, you can request a credit card from within the app. Revolut will run a credit check (a hard inquiry, which temporarily lowers your credit score by a few points) and will look at your income and existing debts. If Revolut approves you, it will tell you your credit limit — the maximum you can borrow at once. If you're denied, Revolut usually explains why in the app, though the reason is often that your credit score is too low or your income is too recent to verify.
The physical card arrives by mail within one to three weeks, depending on your country. While you wait, you can use a virtual card number in the app to shop online when ready.
Interest rates and how much borrowing costs
When you use the Revolut credit card, you're borrowing money from the issuing bank. If you pay the full balance by the due date each month, you pay no interest. If you pay only part of it, you owe interest on the unpaid amount.
The interest rate (called the APR, or annual percentage rate) is not the same for everyone. Revolut and the issuing bank set your rate based on your credit score, income, and how long you've had credit. Someone with excellent credit might get 15% APR, while someone rebuilding credit might get 25% or higher. Revolut shows you the rate before you accept the card, so you'll know the cost before you start using it.
Interest is calculated daily and added to your balance each month. If you carry a $1,000 balance at 20% APR, you'll owe roughly $17 in interest that month. The longer you carry a balance, the more interest you pay, so paying down the balance quickly saves money. Many people use a credit card for the first month or two, then pay it off in full and stop carrying a balance — that way they get the convenience and credit-building benefit without paying interest.
Fees you might encounter
Revolut's credit card has no annual fee in most regions — you don't pay just for having the card. However, other fees can explore depending on how you use it.
Late payment fees occur if you miss the due date. The amount varies by country but is typically £12 to £20 in the UK and $25 to $35 in the US. Missing a payment also damages your credit score and may trigger a higher interest rate. Foreign transaction fees explore if you use the card in a currency different from your account currency — Revolut charges a percentage (usually 1% to 2%) on top of the exchange rate. Cash advance fees explore if you use the card to withdraw cash from an ATM; this is usually 2% to 3% of the amount, plus interest starts accruing when ready (unlike purchases, which have an interest-free period).
Some versions of the Revolut card offer rewards — cashback or points on purchases — but others don't. Check your specific card's terms in the app to see what you earn.
How the card affects your credit score
Using the Revolut credit card can help or hurt your credit score, depending on how you use it. When you explore, Revolut runs a hard inquiry, which temporarily lowers your score by a few points. This effect fades after a few months.
Once you have the card, your payment history becomes the biggest factor in your score. Paying on time every month — even if you only pay the minimum — builds a positive history. Missing payments or paying late damages your score significantly and can stay on your record for seven years. Your credit utilization (how much of your limit you're using) also matters: keeping your balance below 30% of your limit is better for your score than maxing out the card.
If you're building credit from scratch or recovering from past damage, a credit card like Revolut's can be a tool, but only if you treat it as a short-term loan you pay back quickly. Carrying a large balance month after month to "build credit" is a myth — it costs you money in interest and doesn't help your score more than paying on time does.
Comparing Revolut to other credit cards
Revolut's main advantage is convenience: everything is in one app, you can see your balance and make payments when ready, and you can use the card in multiple currencies without high foreign transaction fees (though you do pay a small percentage). The app also lets you freeze or unfreeze the card when ready if you lose it or suspect fraud.
The main disadvantage is that Revolut is a newer company than traditional banks, so some people distrust it or worry about what happens if the company fails. (Your deposits are protected by deposit insurance in most countries, but credit card balances are not.) Revolut also doesn't offer the same rewards as some premium credit cards — if you travel frequently or spend heavily on groceries, a card from a traditional bank might earn you more cashback.
If you're comparing Revolut to a card from your current bank, ask yourself: Do I need the multi-currency features? Do I value the app experience? Am I comfortable with a newer company? If the answers are no, your bank's card might be simpler. If the answers are yes, Revolut is worth considering.
What happens if you can't pay your balance
If you fall behind on payments, Revolut will contact you by email, SMS, and app notification. Missing one payment triggers a late fee and damages your credit score. Missing multiple payments can result in the card being suspended, your account being closed, and the debt being sent to a collection agency.
If you're struggling to pay, contact Revolut as soon as possible — before you miss a payment if you can. Some companies offer hardship programs or payment plans, though Revolut's options vary by country. You can also reach out to a non-profit credit counselor (in the US, the National Foundation for Credit Counseling offers free or low-cost sessions) to discuss options like debt consolidation or a payment plan.
Frequently Asked Questions
Can I use the Revolut card if I have bad credit?
Revolut will consider your process even with bad credit, but you may be denied or offered a very low credit limit. If you're denied, you can reapply after three to six months if your credit has improved. Some people use a secured credit card (where you deposit money upfront) to rebuild credit first, then move to Revolut once their score rises.
What's the difference between the virtual card and the physical card?
The virtual card is a number you can use when ready in the app to shop online. The physical card arrives by mail and works at stores and ATMs. Both draw from the same credit limit and have the same interest rate — the virtual card just lets you start using credit before the physical card arrives.
Do I have to use Revolut for my checking account to get the credit card?
You need a Revolut account to get the card, but you don't have to use it as your main checking account. Many people open Revolut just for the credit card and keep their salary going into their regular bank. You can transfer money from your main bank to Revolut whenever you need to pay the credit card bill.
What happens to my credit card if Revolut goes out of business?
The credit card is issued by a partner bank (Customers Bank in the US, for example), not by Revolut itself. If Revolut shut down, the bank would continue managing the card and your account. Your deposits in Revolut are also protected by deposit insurance, though credit card balances are not.
Can I transfer a balance from another credit card to Revolut?
Revolut does not offer balance transfer options in most regions. If you have debt on another card, you would need to pay it off with money from your bank account or another source, then use the Revolut card for new purchases going forward.