Revolut CREDIT CARD

Since Revolut card is a debit card which by some reasons in some cases it has some issues in the merchants I would like to let here the next Idea:

  • Why not have the concept of Amount Lock.
  • The Locked Amount, e.g. 2000 Euros would be the max credit amount to use during the month
  • The next month the user would top-up or have a rule to top-up from any available Vault with funds

I believe that this would solve many issues regarding credit card.

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Not entirely sure I understand but there is already a ‘locked amount’ for the month under card settings !

When you have a credit card it has a specific max amount for use. Every month you will pay the amount used from it or pay a % and interests for the difference not paid.

The Amount Lock concept would be a similar but instead of credit you are paying upfront. The upfront amount would be locked/reserved for “credit card transactions”.

As you may already know Revolut is a debit card and in some cases this is a problem. This concept could solve this issue.

I see some open positions for credit products in carrier section, one in London and one in Vilnius. Does this count as a coming soon product or “credit” has a different meaning?

At the moment revolut its a prepaid card, not even debit!

Merchant issues come from the fact that Revolut uses so called “prepaid” cards and not classic cards.

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Similar subject came up before:

Last mont bunq has introduced such product - bunq travel card. So it looks like the idea isn’t bad but Revolut did not jump on it while still could have been the first one…

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What is a prepaid credit card. How does that concept work?

Towards the merchant it looks like a credit card, so it will be accepted, no matter what, however you can only use your own balance.( Useful in the US or places, where only credit is accepted)

As per Bunq’s explanation, their card uses credit first, and then immediately pays for the credit balance, so technically it’s a credit card, but otherwise it’s a debit card, as you cannot have overdraft or any kind of loan with it.

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I would prefer an actual credit card tbh

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Nowadays it could be pretty much the same as debit card with some issuer compliance differences (rather than card itself). On the other hand - prepaid card could also appear as unpersonalized gift card (most common with Visa or Mastercard logo) you could pick up from a display rack at your department store and then give to your kid as pocket money.
Check out: http://tiny.cc/6xnmaz

I think before launching a credit card, they should first move from prepaid to debit.
Then maybe launch something similar to bunq’s Travel Card, which is a credit card linked to a normal bank account (i.e. no actual debt).

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I personally would prefer if they didn’t do this - why have a credit card that isn’t using credit at all

It blurs the lines between a credit card and a debit card too and I dislike that

If they release one it should be standard postpaid and should offer some tangible benefit rather than being some awful bypassing card

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This would be great.

For me to get a credit card in Romania I had to do a similar workaround as I was working in the Philippines.

I put a “guaranteed amount” and voila, got a CC with that limit and all the benefits which comes with.

Did read in some review that despise bunq travel card is Credit card (its clearly written on card), some car renting merchants (in USA - where else…lol) refused to accept it as it does not have embossed card number…

Sometimes makes me question in what age USA is living and stupidity of ppl in general…clerks follow stupid old pre-written rules and have no clue about changing world outside corporate america at all.

Rant mode off. :laughing:
/me goes to sleep.
cya later.

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I just was in the US and one of the car rental agencies even used a carbon copy, including the embossed card, to give us our copy of the contract.
Hello 20th century.

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If it were my business I would refuse to accept it because it isn’t a credit card :slight_smile: it’s a debit card with a credit backdoor.

FWIW if my work’s internet is down I have to refuse card payments from non-embossed cards.

Same if MC/Visa is dead.

Well - they are still using paper cheques in the US while in most European countries cheques are thing of the past.
As regards to embossed card imprinting - I think it was just some strange custom of that particular establishment or person. Afaik it’s not required by Visa and Mastercard any more anywhere in the world - even in the US. :wink:

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Then i was in berlin
Burger king at alexanderplatz don’t take card
Burger king, on the busiest place in berlin, no card

But in a cafe with 1 table in a town with 90.000 people on romania
Yes they take card, mastercard, visa card

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Just out of curiosity, didn’t they take any card or just no credit card but would accept Maestro debit card?

Because it is direct debit or “cash in any other form”? I saw that often in Switzerland.