UK-based fintech giant Revolut is quietly working on a new rewards credit card. One that could shake up a space long dominated by big names like American Express and Barclaycard. The product, still in early development, would let users earn and redeem RevPoints, Revolut’s own loyalty system introduced in mid-2024.
According to insiders, the plan is to roll out these points-based credit cards across all of Revolut’s subscription tiers, giving both free and premium users access to tailored reward schemes. This marks another strategic expansion for the fintech, which has rapidly diversified its offerings in recent years.
From banking to crypto, and now credit
Revolut has grown from a digital banking app into a one-stop financial platform. It now boasts over 50 million users worldwide, with services ranging from crypto trading and investment portfolios to pet insurance. The addition of a rewards-based credit card brings it head-to-head with established rivals in the UK card market.
So far, that space has largely resisted the kind of disruption seen in current account banking. American Express and Barclaycard still lead the pack, thanks to entrenched points systems and popular partnerships with airlines through Avios and other loyalty programs.
Newer players have struggled to gain ground. One exception is Yonder, a NatWest-backed fintech that has gained attention by offering local dining rewards instead of travel perks. However, its user base is still modest, hovering around 30,000 customers.
Unlike Yonder, Revolut already has a vast user network and a fast-growing suite of products. RevPoints, currently earned through debit card spending, can be used to buy gift cards for brands like Apple and Amazon, or exchanged one-for-one with airline miles. This gives Revolut a versatile foundation to build on.
It’s still unclear how the fintech plans to position its credit card in a crowded rewards market. However, by leveraging its global reach, tiered subscriptions, and growing loyalty ecosystem, Revolut could create an alternative that appeals to younger, digital-native customers tired of the traditional banking experience.
The upcoming credit card is part of a broader push by Revolut to deepen user engagement. Earlier this year, reports surfaced that the company is developing a private banking arm for high-net-worth individuals. This premium service is expected to include investment products and wealth management tools.
Revolut is also preparing to launch a mortgage offering and an AI-powered financial assistant—a move that could further cement its position as an all-in-one financial hub.
While Revolut has yet to officially confirm the new credit card project, its steady rollout of verticals signals a bold ambition: to become not just a challenger bank, but a dominant force across every corner of consumer finance.
