Revolut sees rapid success with Ultra card in Brazil

Revolut's entry into the Brazilian premium credit card market has seen unexpected success driven by loyalty programs. While the Revolut Ultra card was initially launched to target consumers seeking cheaper exchange rates and global accounts, high demand for its points and miles features has shifted the company's strategic focus.

Glauber Mota, CEO of Revolut in Brazil, stated that the company reached its three-month sales target for the Ultra card in just two weeks. The card offers three RevPoints per dollar spent on credit, with a key advantage being the ability to transfer these points to international airline loyalty programs such as Iberia Plus, TAP Miles&Go, and Qatar Airways.

This surge in demand for travel-related rewards positions Revolut as a significant competitor in the high-income segment, alongside established players like Itaú and Santander, who are also preparing new premium offerings.