If you’re considering a new credit card, look into the Revolut credit card, which is offered by the renowned money app.
This guide provides essential information about the Revolut credit card for users in France, including interest rates, fees, credit limits, and the online application process.
Focus here to understand how to secure and manage your Revolut credit card efficiently.
What is the Revolut Credit Card?
The Revolut credit card is not yet available in the UK, but it is operational in other regions, such as Ireland.
In France, should this service be introduced, potential users might enjoy similar benefits to those in Ireland. Key aspects of the Revolut credit card as of June 2023 include:
- You can earn 1% cashback on all purchases for the initial three months, with a cap of €3,000 in total spend. Post this period, the cashback rate adjusts to 0.1%.
- You may benefit from up to three months of interest-free credit, provided you fulfill the minimum monthly payment requirements.
- The Revolut app offers extensive card management tools that allow you to set spending limits, check your balance, and organize automatic repayments.
Users apply for the Revolut credit card directly through a mobile application. The approval process is swift, often concluding within minutes.
Once approved, a virtual card is instantly generated, enabling immediate use for transactions.
Revolut Credit Card is Your Everyday Cashback Hack
In France, use the Revolut Credit Card to earn 1% cashback on all cashless transactions for the first three months or until you reach €1,000 in total cashback.
After this period, the card offers a continuous 0.1% cashback on all cashless purchases made with the credit card. This feature enables you to save money effortlessly every time you use your card for purchases.
Stay on Top of Your Repayments
Revolut provides timely notifications for upcoming payments and offers an Autopay option to manage your account balance automatically.
For those looking to enhance spending management, setting budget limits is available, ensuring you stay within your financial boundaries and avoid overspending.
This tool is particularly helpful in maintaining financial discipline in your daily transactions.
Revolut Credit Card Interest Rates
The Revolut credit card offers an annual percentage rate (APR) of 17.99%, which is variable. This card provides a three-month interest-free period, which is an appealing option for managing finances without immediate interest charges.
However, this rate from the Ireland offer may not apply if the card is introduced in other regions, such as the UK.
Fees and Charges
For customers using the Revolut credit card in France, there are specific fees to consider.
The late payment fee is set at €10, and there is a cash advance fee of 2%, with a minimum charge of €5. These fees are consistent with those listed for Revolut Ireland customers.
Limits on the Revolut Credit Card
Credit limits on the Revolut credit card range from €500 to €10,000, adaptable to the financial profile of each customer.
Your credit limit is determined by your credit score, and you can check your limit anytime using the Revolut
How to Apply Online?
To apply for a Revolut Credit Card in France, ensure you meet these eligibility criteria:
- Age 18 or older.
- Residence in France with complete, updated personal details in the Revolut app, including a local mobile number.
- A Revolut Bank UAB customer for at least 30 days.
- Employment in France with income deposited directly into your Revolut account or other local banks.
- A clean credit history with no missed repayments.
- There are no negative balances in your Revolut account.
To apply through your Revolut app:
- Navigate to the ‘Home’ screen.
- Below your balance, select ‘Accounts’.
- Choose ‘Add new’, then ‘Credit’, and select ‘Credit Card‘.
- Complete the brief application form.
Responses are typically immediate. If a manual review is necessary, Revolut will contact you for additional information and provide a decision within three business days.
Upon approval, review and accept the offer to set up your credit card. You can then order a physical or virtual card and begin usage immediately.
Choose Your Best Plan
Revolut offers a range of credit card plans tailored to fit every lifestyle and financial need in France.
Each plan is designed to provide distinct advantages, from daily spending to global travel, ensuring that you can select the perfect match for your financial ambitions.
Ultra
€45/month (Introductory offer)
For those in France seeking top-tier financial services, the Ultra plan offers exclusive lifestyle benefits and world-class travel options. Members receive a precision-engineered, platinum-plated Revolut Credit Card.
Metal
€15.99/month
This plan elevates your financial experience with higher limits on global spending and investments. Holders of the Metal Revolut Credit Card enjoy enhanced lifestyle benefits.
Premium
€9.99/month
Opt for the Premium plan to access flexible benefits that cater to both local and international needs. The Revolut Credit Card under this tier allows smarter saving, spending, sending, and investing.
Plus
€3.99/month
The Plus plan provides priority in-app support and protection for everyday spending in France. It’s cost-effective, offering substantial perks for less than a daily coffee, all accessible through the Revolut Credit Card.
Standard
Free
The Standard plan is ideal for those managing finances within France, whether sending money abroad or budgeting. It includes a Revolut Credit Card equipped with essential tools to enhance your financial freedom.
What is the effective APR?
The effective APR for the Revolut Credit Card in France is 16.08%. This rate is calculated based on the annual fixed interest rate of 15%, applied to a credit limit of €4,100.
If you use this limit for three months, the total amount payable becomes €4,255.01. Monthly payments are set at 3% of the utilized credit, but no less than €10, plus any accrued interest. If the credit isn’t used, there are no payments or interest charges.
Note
The grace period, where interest accrues but isn’t charged, does not cover cash withdrawals, money transfers, or payments for gambling and investments.
To avoid interest charges, you must repay the full amount by the end of the grace period, which lasts from the first day of the billing cycle until the last day of the next calendar month.
Conclusion
Applying for a Revolut Credit Card in France is straightforward and offers numerous benefits. Understand the interest rates, fees, and eligibility criteria to make a knowledgeable decision.
Maintain timely payments and contact customer support when needed. Properly utilized, the Revolut Credit Card is an effective financial management resource, providing valuable rewards.