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Revolut had credit cards for a few years but only in Lithuania

https://www.revolut.com/en-LT/credit-cards/

I guess they'd need to apply for banking license to offer CC in every EU state and that would be an order of magnitude more expensive than Lithuania's banking license

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I think that the true reason is another one: credit cards come with credit, which people can choose not to pay back. It is complicated to recover money from a person abroad, possibly having to sue them in every EU state.

Nope. They still have only a Lithuanian license, plus maybe one for the UK.

All it takes to operate in the EU is a license from one member state.

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