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.
Compare Personal Loans vs. The Revel Card
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 and processing fees
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:
- Amex Blue Cash Preferred
- Citi Custom Cash Card
- Top Rated – Chase Freedom Unlimited
- Check top-rated personal loans for free at Credible
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
Is Revel® a real credit card?
Is the Revel credit card legit?
Is Revel a good credit card?
Source
Image Sources: revelcardinfo.com – trustpilot.com
Deane Biermeier
Best Companies for April 2024
