Check out our full comparison of Apple Pay vs PayPal in the UK, including pros, cons and features compared.
Shopping around for a new credit card? If you’re familiar with the money app Revolut, you might be interested to know that it also offers a credit card.
In this guide, we’ll be running through everything you need to know about the Revolut credit card. This includes whether or not it’s available in the UK, and other useful info such as interest rates, fees and credit limits.
We’ll also take a quick look at an alternative solution for shopping and spending - the Wise international debit card. It offers low fees and great exchange rates for spending in multiple currencies, and it works in 174 countries worldwide.
But for now, let’s get back to the Revolut credit card.
First things first - can you actually get the Revolut credit card as a UK customer? Unfortunately not, or at least not at the moment. Currently, the Revolut credit card is only available in the following countries:¹
However, Revolut is looking at expanding to more countries, so watch this space - its credit card could be coming to the UK soon.
In case the Revolut credit card does become available in the UK, here’s what you need to know about how it works in other countries. Key features (based on the offer for Revolut Ireland as of June 2023) include:²
- Earn 1% cashback on all purchases for the first three months when you spend up to €3,000 (cashback rate is 0.1% after that)
- Up to 3 months interest free - as long as you meet minimum monthly payments
- Control your card using the Revolut app, with tools including setting spending limits, viewing your balance and scheduling automatic repayments.
Customers in Ireland can also apply for their Revolut credit card via the handy mobile app. Decisions on applications are made within minutes. And if successful, a virtual card is created instantly so the new card can be used for spending right away.
Based on the offer for Revolut Ireland customers, the effective APR for the Revolut credit card is a representative 17.99% variable.² There’s also that attractive three-month interest free period.
However, there’s no guarantee that this will be the same interest rate used if the card launches in the UK at any point.
There are a couple of fees to be aware of with the Revolut credit card, aside from the interest rate. These are (again, according to Revolut Ireland):³
- Late payment fee - €10
- Cash Advance Fee - 2% (minimum of €5).
According to Revolut Ireland, credit card customers can access credit limits of anywhere between from €500 to €10,000.²
All applications are assessed individually, and you’ll likely get a personalised limit based on your credit score. And you’ll be able to check your limit at any time in the Revolut mobile app.
The Revolut credit card may not be available in the UK yet, but the Wise card is. It’s not a credit card, but is a fantastic option for low-cost spending in the UK and worldwide.
This powerful international debit card can be used in 174 countries, pretty much everywhere Visa and Mastercard are accepted. This includes online, so it’s great for shopping on overseas websites.
The Wise card automatically converts your pounds to the local currency whenever you spend, using the margin-free mid-market exchange rate. There’s just a small conversion fee, or there’s no charge if you already have the currency in your Wise account.
Need cash? Withdraw up to £200 a month with no Wise fee (although ATM operators may charge their own fee).
And there you have it - your at-a-glance guide to the Revolut credit card. It’s a shame that you can’t yet get it in the UK, but it could land on our shores at some point in the future.
- Revolut blog - Earn extra rewards with Credit Cards
- Revolut - Credit cards
- Revolut Help - Are there any fees for credit apart from the interest?
Sources last checked on date: 23-Jun-2023
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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