Credit Cards interest
Understanding credit card interest charges
If interest is due, it will be charged on your Revolut credit card account after your statement due date. For example, interest charged on 1 January is charged for unpaid balances or transactions made during November, included in the statement issued on 1 December and to be paid by 31 December.
To benefit from the interest-free period on purchases, you must pay your statement balance in full and on time, and not have any unpaid balance carried over from the previous month. The interest-free period doesn’t apply to withdrawals, transfers, or cash advance transactions.
We can charge different interest rates for different types of transactions. You can check the applicable interest rate in-app by clicking on 'Info' and selecting 'Documents, information about rates'.
Interest on balances
If you don't pay your monthly credit card statement in full by the due date on your statement, we'll charge interest on your statement balance the next day as part of your new billing cycle. Interest accrues daily from transaction date until balance is paid and it is charged monthly.
If you don’t pay the full balance, you’ll lose the interest-free period in the next month. You’ll be charged interest on all transactions and any unpaid balances carried over, even if you repay in full by the due date. To restore the interest-free period, pay in full for two months in a row.
Interest on cash advances
For cash-like transactions, such as money transfers, cash withdrawals, and credit card payments for gambling or investments, interest will accrue daily once the transaction is completed until it’s repaid.
These transactions aren’t eligible for interest deferral or promotions, so interest applies even if you pay your statement in full. If you need to make this type of transaction, you should aim to pay it off as quickly as possible and not wait until the payment due date.
Example: you make a cash withdrawal on 1 January and fully repay the balance on 5 January. The transaction will be included in the statement issued on 1 February. On 1 March, we'll charge interest accrued between 1 January and 5 January. The interest-free period doesn’t apply to cash transactions.