This particular feature never was to “get” a credit card, I believe. It’s to link a third party credit card via Open Banking so that one can include the negative balance into the “net worth” calculation. It seems they changed the label from “get” to “link” to make this more clear.

(I don’t think Revolut’s credit application is tied to linking accounts.)

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Revolut credits cards coming to Ireland:

I don’t yet see the option in app to apply.
Maybe the rollout will be in phases.

APR is quite high at 17.99% but first three months interest free.
I expect the €30 government stamp duty would apply too.

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Sounds great, is :r: intending to bring these Creditcards also to The Netherlands?

Or issue a debit creditcard (like Bunq does)?

What is a debit creditcard?

My understanding is in short:
Debit card - directly debited on your account
Credit card - invoiced periodically, usually monthly, payment can be delayed but interest is due then.

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It’s a charge card with a variable limit that equals the account balance.

Payments are “secured” with your balance until the end of the month (billing cycle). You can’t access funds that are used for securing card payments, payments appear like debit card payments. But technically, no money has left your account until the end of the month.

The effect this has is for example is that it affects how interest is calculated.


@Frank @OliverCH Thank you so much for helping out in the community. :smiling_face:

@Youssf Hope this clarifies your question :sunflower:

Crypto backed Credit Cards where you use crypto as collateral.would be cool option to have.

Essentially its like the american secured cards, where you deposit x amount, and you have that as a limit.

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Sort of, yes. With the difference that in the US, you have a responsibility to pay the credit card bill separately. With Bunq, the secured deposit is dynamic and is shifted in the background from the current account to the deposit where it settles the bill at the end of the month automatically.

Bunq is a small player, and they got away with that. I wonder if this type of card would cause more resistance from payment service providers if it would be more popular. The PSD2 regulation offers a definition of what a “credit” card is. And it’s questionable if this card is within this definition. It’s the same regulation that regulates how cards have to be labeled so that merchants can identify them.

Edit: typos.

@FearlessTraveller1 Hello :wave: and welcome to our community. We are so happy to have you here :sunflower:

@Frank Thank you for this information. It was indeed very helpful. :smiley:

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The idea of Bunq was to offer this card back in 2019 (if I am right) so users can use their ‘debit’ card as a ‘creditcard’ to use it also for car rentals and in hotels that want a deposit which normally is charged on a regular creditcard as the company wants a guarantee to take the deposit if necessary.

As Debit cards are currently getting much better accepted (I have not tried it yet but in an planes and trains the Revolut cards should work with offline terminals too) and also behave as a creditcard (as long as your balance is high enough) this feature is not needed anymore.

A funny sidenote, many customers having this ‘Credit’ card from Bunq in The Netherlands will not be able to use it at several merchants once the switch from Maestro/V-Pay has been completed to Mastercard and Visa debit. The reason of this is that merchants will be able to block all creditcards and only accept debit cards temporary.

This will be the case until ~2025 as from that moment on the merchants will be required to accept all cards (honor all cards rule).

PS: Of course the idea of getting creditcard at Revolut that come with a credit limit would be nice of course.

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Yes. That’s the background, and I agree that the relevance of such cards fades. But here’s the thing: we will still see merchants in the future that rely on credit cards. Fancy hotels, specific car rentals … it’s not for technical reasons (deposits and delayed transactions work on debit just fine). Debit card acceptance will improve, and there will be also instances where merchants accept debit but not credit. You can find that quite a bit in rural USA as well. The US market has found a way with secured credit cards to offer customers with bad or no credit history to participate. Leaving the implications of consumer credit of any shape or form aside for a moment: I think it’s a good idea to offer customers the best flexibility possible to spend their money wherever they want. Credit cards are gatekeepers otherwise.

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