Revolut Ultra: Is It Worth It?

Revolut Ultra: Is It Worth It? I Did The Math (2023)

Revolut Ultra is Revolut’s top-end plan in the UK and Europe. With an annual fee of £540, Ultra members get not only a platinum-plated card but also £4,100+ (€4800+) in annual benefits.

But is it really up to what it claims? The Ultra card costs a ton of money, even more than super premium credit cards such as the American Express Platinum, SAS Elite, and others. (Read this post comparing Revolut Ultra vs. Amex Platinum).

Long-story short

The Revolut Ultra is a platinum DEBIT card. The biggest strength is that Revolut Ultra is a platinum debit card. There’s no minimum income requirement, no impact on your credit score, and no outrageous APR rates. It is expensive, but it gives you A TON of benefits, especially if you are traveling a lot, if you use WeWork, and even pay for Tinder.

Revolut Ultra: World's first platinum debit card

Revolut Ultra: A Luxury Platinum Card For whom?

What are Revolut Ultra’s benefits?

The Ultra plan is one of the most complete plans on the market, especially if you travel frequently and like the sound of trip cancellation cover and lounge benefits or if you’re planning to make use of Revolut’s investment opportunities.

Revolut Ultra Platinum Debit Card

Being totally honest, there’s no other proposal in the market today that can rival Revolut Ultra. It’s the world’s first platinum debit card, packed with benefits from luxury travel credit cards.

The biggest strength is that, compared to other cards, there is no minimum income requirement for this debit card, no impact on your credit score, and no outrageous APR rates. You’ll also earn up to 0.1% on purchases within Europe and the UK and 1% outside (capped at monthly plan price).

The debit card benefits can be divided into three buckets: Lifestyle, Travel and Investment.

  • A platinum-plated metal card
  • Access to partner benefits, such as free subscriptions to the Financial Times, NordVPN, WeWork, and ClassPass
  • Unlimited fee-free international money transfers
  • 1.2% cashback on Revolut Pro
  • 24/7 member support
  • Unlimited lounge access at over 1,400 airport lounges worldwide
  • Total travel coverage, including cancellation for any reason insurance, medical emergency insurance, lost luggage insurance, and flight delay reimbursement.
  • Stock trading advantages, such as exclusive trading fees and access to IPOs
  • Supercharged savings, with up to 10% interest on your savings

Revolut Ultra Advantages (Summary)

BenefitDescription
Platinum-plated metal cardA stylish and durable card that makes a statement.
Partner benefitsFree subscriptions to a variety of premium services.
Unlimited fee-free international money transfersSend and receive money internationally without paying any fees.
1.2% cashback on Revolut ProEarn cashback on your investments.
24/7 member supportGet help from Revolut’s team of experts 24/7.
Unlimited lounge accessRelax in comfort and style at over 1,400 airport lounges worldwide.
Total travel coverageGet peace of mind with comprehensive travel insurance.
Stock trading advantagesEnjoy exclusive trading fees and access to IPOs.
Supercharged savingsEarn up to 10% interest on your savings.
Summary of Revolut Ultra benefits

1. Lifestyle Benefits (worth €2000)

The Ultra plan includes subscriptions to incredible brands that, combined, are worth €2400 (£2,100+) a year, including Financial Times Digital Premium, ClassPass, WeWork, Tinder Plus, and more. Revolut states that Ultra’s lifestyle benefits alone mean that you can earn back the entire cost of your plan. However, keep in mind that for that to be true, you need to take advantage of every service bundled.

Revolut Ultra Bundled Subscriptions Include tinder, WeWork, NordVPN and the Financial Times

You also get access to five full accounts for Revolut <18 (for your family), and a comprehensive cover on everyday purchases. That means purchase protection of up to £10,000 a year on stolen or damaged items within a year of purchase, cancelled event protection of up to £1,000, and refund protection of £600 on eligible purchases within 90 days of purchase.

Lastly, with Revolut Ultra you can send money to 150+ countries with no transfer fees charged.

Cashback up to 1% with Revolut Ultra

2. Travel Benefits (worth €970)

Ultra gives you unlimited access to 1,400+ airport lounges worldwide. That includes food, drink, and service, which can cost up to €300 a year if you pay for it on your own.

One really appealing aspect for me is their Cancel For Any Reason Insurance (CFAR). This gives you freedom and flexibility when traveling. Revolut claims this costs an average of €420 based on estimated travel activity. No matter why you’ve had to cancel your trip, you’ll get up to €5,000 per year refunded for flights, trains, accommodation, or events. I’m really eager to test this one out, as I often have sudden plan changes where I’m forced to lose what I paid for.

Another plus is the wide emergency medical and dental coverage, including winter sports. Ultra travel insurance also includes cover for car-hire excess, lost or damaged baggage, delayed flights, and personal liability. That’s worth at least €250 a year.

Lastly, in this category, with Ultra, you can spend, exchange, and transfer unlimited amounts of money at great exchange rates, with no fees Monday to Friday. Revolut claims this is worth €130 of fees saved a year, but considering the many, many, many options for credit cards with no foreign exchange fees out there today, I’m not gonna count them.

So overall, we can say this category gives you back €970.

Revolut Ultra Cancellation Insurance

3. Investment Benefits (worth €0)

Lowest investment fees and highest savings rates. Get 10 commission-free stock trades a month, with a fee of 0.12% of the order amount (or minimum country-specific fee) per additional trade thereafter.

Lowest fees on crypto and commodities (capital at risk). Enjoy up to 3% AER/Gross (variable) paid out daily (subject to market availability), including no fees, no minimum deposits, and no minimum balance requirements.

Revolut Ultra Investment Benefits

How much does Revolut Ultra cost?

  • Subscription fee: £55 a month or £540 a year.
  • Adding money: Free. However, if you add money with a card that is issued somewhere else (e.g. in the USA, Switzerland, or anywhere else that is not part of the UK or EEA) or you add money with a commercial card, then we may charge a small fee.
  • First Revolut card: Free. Your first free card can be an Ultra, Premium, or Standard one. You may have to pay a card delivery fee and £50 for the Ultra card itself if you cancel your subscription within six months of signing up and an Ultra card has been sent as set out.

Conclusion: Is Revolut Ultra Worth It?

Revolut claims that with Ultra, you get at least €4800 back in value. I’m more conservative and ruled out a few of the points they are highlighting because there are alternatives that could cost you virtually zero and still provide the same service or benefit.

IMHO, the cancellation insurance policy, the unlimited lounge access, the travel insurance, 1.2% cashback on Pro, and some of the bundled passes such as WeWork, NordVPN, and Freeletics are among the strongest points. On the other hand, the platinum-plated card, the fee-free transfers, and the investment benefits are a bit of an overkill.

The final math: Yes, it is still worth it. And the main reason is that it has no income requirements and it doesn’t ruin your credit score. The card costs €600 a year, but even using one-third of the benefits, you still get about €1200 just from the lounge access and cancellation insurance!

So, overall, I would totally recommend Revolut Ultra to anyone who travels often, maybe runs a business (solopreneur, entrepreneur, small business), and even invests from time to time. Particularly if you are already using some of the bundled subscriptions such as WeWork or NordVPN. Over time, the cost will amortize itself.

Other posts you’ll love

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *