The money tracking and transferring app Revolut is to begin rolling out its own credit cards.

Over the next few months, Revolut users will be able to use the card system for a range of benefits, including 1% cashback on purchases up to €30 for the first three months and an unlimited 0.1% thereafter.

Customers who have a Metal account (the most expensive version of Revolut) can enjoy an additional 0.1% cashback, and 1% cashback outside of the EU.

The neobanking giant, which is used by over two million people in Ireland, says the credit card was designed "with responsible spending in mind" and features affordability checks through Open Banking as well as a spend management system.

Disrupting the industry

The new card have 0% purchase and balance transfer introduction rates to help spread costs of bigger purchases, as well as low day-to-day APR thereafter.

There are no over-limit fees, and no returned payment fees.

Founded in 2015, Revolut has redefined banking particularly among younger people.

It has the lowest rate in the Irish market for loans under €20,0001.

Regular Revolut card. Credit: Panther Media GmbH / Alamy

New cards

Customers have the ability to create virtual credit cards while waiting for physical cards to arrive, and these cards can be added to mobile wallets such as Apple Pay and Google Pay.

Additionally, customers can choose to use disposable virtual credit cards which can help to deter fraud when shopping online.

Joe Heneghan, Chief Executive Officer of Revolut Europe, said: “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.

"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.

“With flexible perks, cashback and bonus rewards, we’re looking forward to hearing feedback from our customers over the coming weeks.”