Revvi is a secured credit card designed for people rebuilding credit, but it comes with costs that matter
Revvi is a secured credit card issued by Coastal Community Bank. You put down a cash deposit (usually $200 to $2,500), and that deposit becomes your credit limit. The card reports to all three credit bureaus — Equifax, Experian, and TransUnion — which means your payment history can help rebuild a credit score. But the card charges an annual fee, a monthly maintenance fee, and interest on balances you carry. Whether it makes sense depends on what you're trying to do and what other cards you could get instead.
The core trade-off is straightforward: Revvi will likely approve you when other cards won't, but you'll pay more in fees to have it. Understanding those costs and comparing them to alternatives before you explore saves money and frustration.
Key Takeaways
- Revvi requires a cash deposit equal to your credit limit, ranging from $200 to $2,500, which you cannot spend or use to pay your bill.
- The card charges both an annual fee of $48 and a monthly maintenance fee of $6, totaling $120 per year in fees before you use the card at all.
- Revvi reports to all three credit bureaus, so on-time payments can help rebuild your credit history if you have little or damaged credit.
- You may may have access to for a secured card with lower fees or no annual fee from your own bank, credit union, Discover, or Capital One before explore to Revvi.
- After 7 to 12 months of on-time payments, you can request that Revvi convert your account to an unsecured card and return your deposit.
How the deposit and credit limit work
When you open a Revvi account, you choose how much to deposit. That amount becomes your credit limit — if you deposit $500, your limit is $500. The deposit stays in a separate account and earns a small amount of interest, but you cannot touch it or use it to pay your bill. It sits there as collateral for the bank.
This structure is standard for secured cards. The bank takes less risk because if you stop paying, they can take the deposit. For you, it means you need cash on hand to open the account. If you don't have $200 to $500 available right now, a secured card may not be the right move yet — focus on saving that amount first.
The deposit is separate from your monthly bill. When you make a purchase on the card, you owe that amount to Revvi, and you must pay it from your bank account or another source. The deposit cannot be used to cover missed payments or to reduce what you owe.
Fees that add up quickly
Revvi charges an annual fee of $48 and a monthly maintenance fee of $6. That's $120 per year in fees alone, before you use the card at all. If you have a $500 limit and only use it for small purchases you pay off each month, you're paying 24% of your limit in fees annually just to have the card open.
The card also charges interest on any balance you carry. The APR (annual percentage rate) varies by applicant but typically ranges from 19% to 24%. This means if you carry a $300 balance for a month, you'll pay roughly $5 to $6 in interest charges on top of your regular payment. Combined with the monthly maintenance fee, carrying a balance on Revvi is expensive.
Before you explore, check whether your bank or credit union offers a secured card with lower or no annual fees. Many do, and the savings matter over time. A card with no annual fee and no monthly maintenance fee saves you $120 per year — money that could go toward paying down debt instead.
How Revvi reports to credit bureaus
Revvi reports your payment activity to Equifax, Experian, and TransUnion each month. This means every on-time payment builds your payment history, which is the largest factor in your credit score. If you've had late payments, collections, or a bankruptcy, making on-time payments on Revvi can gradually improve your score.
The improvement is not when ready. Credit scores typically move slowly — you might see a 20 to 50 point increase after three to six months of on-time payments, depending on how damaged your credit is and what else is on your report. But the reporting is real, and it works.
Keep in mind that opening any new credit account temporarily lowers your score because of the hard inquiry and the new account itself. This dip usually recovers within a few months as you build a positive payment history. Don't let this temporary drop discourage you — it's normal and expected.
When Revvi makes sense and when it doesn't
Revvi works well if you have very limited credit history or recent damage (late payments, collections, or bankruptcy) and you cannot get approved for an unsecured card. The fees are high, but if rebuilding credit is your goal and you can afford to pay off purchases each month, the cost of the card is worth the credit-building benefit.
Revvi does not make sense if you have other options. Before explore, try your own bank or credit union — many offer secured cards with no annual fee or lower fees than Revvi. Also check whether you might may have access to for an unsecured card designed for fair credit, which would cost you nothing to carry and still report to the bureaus. If you can get approved for either of those, take it.
Revvi also doesn't make sense if you plan to carry a balance. The combination of the monthly fee, annual fee, and high interest rate makes the card very expensive for debt. If you need to borrow money, a personal loan or credit counseling would be cheaper.
The path from secured to unsecured
Revvi's terms state that after 7 to 12 months of on-time payments, you can request a conversion to an unsecured card. When that happens, your deposit is returned to you and your credit limit may increase. This is the goal — you use the secured card as a stepping stone to a regular card that costs nothing to maintain.
To reach conversion, you need to make every payment on time, every month. One late payment resets the clock. Keep your balance low (ideally under 10% of your limit) to show you can manage credit responsibly. Once you hit the conversion window, contact Revvi and ask — they will not do it automatically.
After conversion, you'll have an unsecured card with no deposit requirement and potentially lower fees. Your deposit money returns to your bank account, and you can use your credit limit like any other cardholder. This is why the high fees on the secured card are temporary — you're paying for the privilege of rebuilding credit, not for a permanent product.
How Revvi compares to other secured cards
The main competitors to Revvi are the Discover Secured Card, the Capital One Secured Mastercard, and secured cards from local banks and credit unions. Here's what differs:
| Card | Annual Fee | Monthly Fee | Deposit Range | Reports to All Three Bureaus |
|---|---|---|---|---|
| Revvi | $48 | $6 | $200–$2,500 | Yes |
| Discover Secured | $0 | $0 | $200–$2,500 | Yes |
| Capital One Secured Mastercard | $39 | $0 | $200–$2,500 | Yes |
| Local bank/credit union secured card | $0–$50 | $0 | Varies | Varies — confirm before opening |
Revvi's monthly maintenance fee is unusual and expensive compared to these alternatives. Unless you've been turned down by Discover and Capital One, explore to them first. If you're turned down everywhere, Revvi may still approve you — some people report approval with Revvi after being denied elsewhere — but confirm that before paying the deposit.
What to do before you explore
First, check your credit report at annualcreditreport.com (the only free, official source). Look for errors — wrong accounts, wrong balances, accounts that aren't yours. Dispute any errors before you explore, because fixing them can improve your score without a new card.
Second, try your own bank or credit union. Call and ask whether they offer a secured card and what the fees are. Many people skip this step and go straight to Revvi, but your bank already knows you and may offer better terms.
Third, explore to Discover and Capital One if you don't have a local option. Both approve people with limited or damaged credit, and both have no annual fee or lower fees than Revvi. You can explore online in minutes.
Only if you're turned down by all three should you explore to Revvi. When you do, have your deposit money ready — you'll need to fund the account to complete the process.
Frequently Asked Questions
Can I use my deposit as a payment if I can't pay my bill?
No. Your deposit is held separately and cannot be used to pay your balance. You must make your payment from a bank account or another source. If you can't pay, contact Revvi when ready — they may work with you on a payment plan, but ignoring the bill will damage your credit and may result in collections.
How long does it take to get approved and receive the card?
Revvi typically approves or denies applications within one to two business days. Once approved, you'll fund your deposit online and receive your card within 7 to 10 business days. The entire process from process to card in hand usually takes two to three weeks.
What happens to my deposit if I close the account?
If you close the account in good standing (no unpaid balance, no late payments), Revvi returns your deposit within 7 to 10 business days. If you have an unpaid balance or late payments, they may hold the deposit to cover what you owe. Always pay off your balance before closing.
Will Revvi approve me if I have a bankruptcy on my credit report?
Possibly. Revvi does approve people with recent bankruptcy, but approval depends on how recent it is, whether you've had on-time payments since, and your income. A bankruptcy from five years ago with clean payment history since is more likely to be approved than one from last year. The only way to know is to explore.
Can I increase my credit limit without adding more deposit?
Not initially. Your limit is tied to your deposit. After you've had the card for several months and made on-time payments, you can request a credit limit increase, and Revvi may grant one without requiring additional deposit. This varies by account — contact them to ask.