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Revolut launches credit cards in Ireland

The fintech has captured more than 40 per cent of the Irish population with its expanding roster of banking products.

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Joe Heneghan/Revolut.

Revolut is starting to roll out credit cards to its more than two million customers in Ireland.

The fintech launched as a bank in Ireland last March and has since added a number of features for Irish customers, including its “responsible payment instalments product” Pay Later and ‘Loans’ up to €30,000.

According to the company, the new credit card is designed with a focus on “transparency, control, responsibility and rewards”.

“We’re delighted to add Revolut Credit Cards to our financial superapp, giving our customers in Ireland more control and flexibility over their personal finances in a responsible way,” Revolut Europe CEO Joe Heneghan said.

“We’ve developed the technology to provide Credit Cards to approved customers with limits tailored to affordability, so they can get the credit they need, when they need it.”

Revolut is making use of open banking to make customer affordability checks and says it has an “immediate” approval process for those who are eligible.

Customers can apply directly through the app with no interest for the first three months with a monthly minimum payment, 1 per cent cashback for the first three months (up to €30) and unlimited 0.1 per cent cashback after that.

The current credit limits are between €500 and €10,000 with no annual fees or punitive over-limit or returned payment fees.

The launch of credit cards follows news that the fintech made a quiet launch to a small group of customers testing out joint accounts in Ireland a few weeks ago, though it has yet to be announced when this will launch fully.

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