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Revel Credit Card Review

Home » Finance » Revel Credit Card Review
4.2

Table of Contents

The Revel credit card is an unsecured card issued by Continental Finance. It requires no security deposit, but it features few benefits beyond that. While cardholders who make their monthly payments on time for the first six months can receive a credit limit increase that doubles their available limit, the card’s high fees and lack of perks make it unlikely to be worth it for most.

What the Revel Mastercard provides, though, is an opportunity to learn about what to avoid when searching for a credit card designed for bad credit. Credit cards for those with poor credit who are looking to establish or rebuild their credit scores generally offer few benefits. However, most have fewer downsides than the Revel card.

revel credit card feature image

Pros

  • No security deposit is necessary

  • Potential credit line increase after six months

  • Low credit score requirements for approval

  • Reports to all three major credit bureaus

Cons

  • High average APR

  • No pre-qualification option

  • No intro bonuses or rewards program

  • High annual fee

  • $10 monthly fees after the first year

Revel® Credit Card Features and Benefits

The Revel credit card is invitation-only. To apply for the card, potential customers must receive a notice in the mail containing an invitation number. This marketing method can create an illusion that the card is worthwhile.

  • APR 29.99% variable
  • No intro offers or rewards program
  • Pre-qualification not offered
  • Invitation only
  • No security deposit needed
  • $99 to $125 annual fee
  • $10 monthly fee after first year
  • Starting credit limit of $300 to $1,000
  • Credit limit doubles after 6 months with on-time payments
  • $10 or 3% cash advance fee
  • 3% foreign transaction fee
  • Company offers several credit cards
  • Mobile app available
  • $41 late payment fee
  • Funds holding applies to purchases
  • Free credit score available on mobile app
  • Reports to all three major credit cards

Revel Credit Card Editorial Rating

Trusted Company Reviews Rating Score for Revel: 4.2

Identifying a credit card that’ll approve someone with poor credit or short credit history can be challenging and intimidating. A hard inquiry on a credit report can cause another barrier to becoming approved for a credit card.

Many, if not most, online credit card applications offer a pre-qualifying step that can help potential cardholders avoid an unnecessary hard pull on their credit report. Continental Finance offers other unsecured credit cards that offer pre-qualification. However, the company doesn’t extend the provision to the Revel card.

Coupled with the Revel Mastercard’s relatively high interest rate of 29.99%, a $99 to $125 annual fee, a $10 monthly maintenance fee, and a lack of any rewards program, the card rates quite poorly in our review evaluation.

The most significant factor affecting the company’s poor rating in our system is its lack of upfront agreement terms. In most cases, accessing the terms and conditions requires applying for and being approved for the card. This fact makes applying for the card more of a gamble.

Benefits Reports to all three credit bureaus

Potential to double credit limit after six months of on-time payments

Intro Offer Monthly fee waived for the first year
APR 29.99% (variable)
Annual Fee $99 – $125 Depending on credit history
Credit Score Requirements 550 or higher with no recent late payments or charge-offs

About the Revel Platinum® Credit Card

The Revel Platinum credit card or Revel Mastercard is designed for those with poor credit or lack of credit history. Consumers with a credit score as low as 550 may be approved for the card, provided there are no recent charge-offs or delinquencies.

The Revel credit card, though, is one of a small handful of unsecured credit cards with no security deposit required that doesn’t allow applicants to check their approval odds before applying for the card and taking an inquiry hit on their credit report.

The Revel Platinum® card has a variable APR of 29.99%  and multiple fees to consider. Depending on your credit score, history, and other details, an annual fee of between $99 and $125 will apply, with a first-year rate of $75. Additionally, a monthly maintenance fee of $10 will apply after the first year.

Other fees include a one-time additional card fee of $30, $10 or 3% for cash advances, 3% for foreign transactions, and a $41 late or returned payment fee.

The Revel credit card offers a credit limit increase after the first six months if all payments happen on time. The increase can double the existing credit limit over the typical starting amounts of between $300 and $1,000.

How to Use the Revel Platinum Credit Card

Cardholders can use their Revel Platinum credit card like any other credit card. There are no restrictions, such as being unable to use it at the gas pump, for cash advances, or in a foreign country with a 3% fee. The card is usable for most transactions where Mastercard is accepted. However, the Revel card doesn’t benefit from several Mastercard perks like rental car insurance coverages.

The Revel credit card also places a hold against your credit limit for up to seven days after paying the vendor where you used your card. While this can limit the chances of charging over the credit limit, it can also limit the card’s usability.

Continental Finance provides a mobile app that allows cardholders to manage their card from anywhere.

Revel Credit Card App

The App is available for Android and iOS devices on Google Play and the App Store. Through the app, Revel Mastercard customers can perform the following card-related functions.

  • See their payment due date
  • Make payments
  • See their credit card balance
  • Review transactions and history
  • Access their VantageScore credit score

Revel Credit Card Pre-Approval

The Revel Platinum credit card offers no provisions for pre-approval or pre-qualification for its product. Those wishing to apply for the card must input details from their invitation and then formally apply, which triggers a hard inquiry on their credit reports regardless of approval or denial. Revel credit card and Continental Finance may deny applicants who receive an invitation to apply for the card.

Revel Credit Card Reviews From Experts

Perhaps because of the Revel Platinum Mastercard’s invitation-only marketing method, few expert reviews exist about the product. Our evaluation reveals an unsecured credit card with no security deposit that misses the mark in multiple metrics.

The card’s lack of meaningful cardholder benefits, high fees, non-disclosure of specific terms before applying for the card, and lack of a pre-qualification step all account for its low expert rating.

Revel Credit Card Reviews From Consumers

Revel credit card reviews from consumers are few. However, the majority of the reports from cardholders are negative and rank with only one or two stars. While 29% of reviews award the company five stars, the remaining 71% of ratings are two stars or below. Several customers report being unable to use the card for everyday transactions.

Is the Revel Platinum Credit Card Worth it?

Finding approval for an excellent credit card with no security deposit can be difficult for those with less-than-average credit scores. However, multiple options are available. With a little research, most consumers can find and at least get an idea of their approval odds for a better choice than the Revel credit card without taking a hit to their credit score.

Because of the Revel credit card’s potential for a relatively generous credit limit, it may be worth the high fees in a limited capacity for a short time to help rebuild poor credit. But only for applicants who are very confident of their approval odds.

Revel Credit Card Vs. Its Competition

While the Revel credit card offers the potential for a generous credit limit and a high, but not outrageous, interest rate, it falls short of much of its competition for various reasons.

Understandably, the Revel credit card isn’t in the running for being one of the best credit cards for gas and groceries or among the best balance transfer cards. However, it has difficulty competing even among credit cards designed for those with bad credit.

Revel Credit Card Comparisons

Revel Credit Card® Mission Lane Petal 1 Arro
Rewards None None 2% to 10% cash back None
Intro Offer Monthly fee is waived for the first year. None None Monthly membership fee is reduced to $1 for the first 12 months. 
APR 29.99% (variable) 19.99% – 29.99%

(Variable)

25.24% – 35.74%

(Variable)

16% starting
Annual Fee $99 – $125 Depending on credit history. $75 for the first year $0 – $59 $0 $12 during the first year, $36 during subsequent years
Credit Score Requirements 550 or higher with no recent late payments or charge-offs None None None
Pre-Qualification Available? No Yes Yes Yes

Other Credit Options

Multiple ways exist to help boost credit scores or help rebuild credit. Some options, although not free of fees, can sometimes offer a less costly solution. Options among the best debt consolidation companies and the best personal loan companies are a couple of those avenues that may be worth considering. There are also several excellent budgeting apps that can help manage credit accounts in a personal way for more effective budgeting and planning.

Check out recent reviews on credit cards and personal loans:

Consider Top-Rated Personal Loans for Fair Credit

Lender Fixed (APR) Loan Amounts
Minimum Credit Score
Upstart Personal Loan 6.40% to 35.99% $1,000 to $50,000 620
LightStream Personal Loan 7.49% to 25.49% $5,000 to $100,000 700
Discover Personal Loan 7.99% to 24.99% $2,500 to $40,000 660
PenFed Credit Union Loan 8.49% to 17.99% $600 to $50,000 700
Upgrade Personal Loan 8.49% to $35.99% $1,000 to $50,000 600
Sofi Personal Loan 8.99% to 25.81% $50,000 to $100,000
Does Not Disclose
Best Egg Personal Loan 8.99% to 35.99% $20,000 to $50,000 600
LendingClub Personal Loan 9.57% to 35.99% $1,000 to $40,000 660
Avant Personal Loan 9.95% to 35.99% $20,000 to $35,000 550
Universal Credit Personal Loan 11.69% to 35.99% $1,000 to $50,000 560
OneMain Financial Personal Loan 18% to 35.99% $1,500 to $20,000
Does Not Disclose
Zable Personal Loans 8% to 30% $1,000 to $25,000 600
Happy Money Debt Consolidation Loan 11.72% to 24.67% $3,000 to $40,000 640

Source: TrustedCompanyReviews.com, Top-Rated Personal Loans Review

Frequently Asked Questions

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Source

Image Sources: revelcardinfo.com – trustpilot.com

About Author

Dr. Ali
Who is Deane Biermeier? In the dynamic realms of finance and home improvement, a luminary has emerged over the last decade—Deane Biermeier. Widely recognized as the go-to expert for insightful reviews and content, his prolific writings grace esteemed publications, including Forbes, Angi.com, U.S. News and World Report, LifeWire, Family Handyman, and several others. He also acts as an expert consultant for The Spruce and Family Handyman. In 2023, Deane joined the esteemed team at TrustedCompanyReviews.com, solidifying his status as a sought-after authority. What sets Deane Biermeier apart? His writing isn't merely informative; it's a delightful blend of honesty, expertise, and entertainment. Deane's crafted content aids millions of consumers, steering them away from pitfalls and toward near-perfect purchases. TrustedCompanyReviews.com feels blessed to have Deane on their team, and now you, too, can be blessed with his insightful writing. Dive into some of Deane's latest reviews on personal loans, credit monitoring, identity theft, and related topics and industries. Follow Deane Biermeier to read his exciting newest reviews, soon to come in 2024! In the upcoming year, Deane has queued up an exhilarating series of reviews that you won't want to miss. He'll be uncovering the inside scoop on cutting-edge products designed to enhance the security of your finances, starting with credit card reviews as 2024 starts. Don't forget to bookmark Deane's author bio page before you navigate away from this page! All of Deane's newest reviews will be featured right here on his author profile page. If you appreciate Deane's insightful reviews and find them helpful in making informed decisions, please consider sharing this author bio on your social media channels. No fluff, just the unbiased facts that matter are what you'll discover with Deane Biermeier's reviews. You won't get sold by anyone, and it's not a marketing gimmick but rather the stuff you need to know before making a purchase. Deane's passion goes beyond mere technical expertise; he believes in the transformative power of knowledge. His commitment lies in equipping consumers and homeowners with the necessary resources to make informed decisions, guiding them with confidence throughout their home improvement projects and when facing financial choices. Determining the right credit cards or personal loans amidst a myriad of companies vying for your business can be stressful and challenging. Dealing with fast-talking salespeople can often result in poor decisions, as individuals may be misled by enticing portrayals, only to discover later that reality falls short of expectations after becoming a client and paying upfront costs. Such situations can be avoided by following Deane's reviews and gaining insight from the information he shares. His reviews illustrate the facts about companies and products, sharing customer experiences that occur after the sale, enabling individuals to make informed choices and avoid potential pitfalls. Deane's insights are not just recognized but actively sought after by leading publications like Forbes Home, Angi.com, USNews, Family Handyman, and Lifewire. He consistently delivers credible, unbiased information, providing readers with the confidence to navigate the intricacies of home improvement and finance. Deane is more than a writer; he is your trusted partner in realizing your home improvement dreams. Combining decades of hands-on experience with meticulously researched insights, he offers practical guidance and financial knowledge to support you at every step of your journey.
Dr. Ali

Deane Biermeier

Last Updated: January 27, 2024