The Avant Credit Card claims to be the stepping stone to credit greatness. So if you’re itching to turbocharge your credit history, this card might be your secret weapon.
It may not shower you with flashy rewards, but it’s all about laying a solid foundation for a brighter financial future.
But with sky-high interest rates and other extra fees, this card could be more of a hindrance than a help.
So, let’s find out if the Avant card aligns with your credit goals—
This article will show you:
- What the Avant card is and how to use it.
- If you meet the credit card requirements.
- How Avant compares to other cards.
Read more:
Avant Credit Card at a Glance
Full name: Avant Credit Card
Best for: Those with fair scores looking to boost their credit
Issuer: WebBank
Required credit score: 580+
What is the Avant Credit Card?
The Avant credit card can help you take control of your spending and build your credit score. With this card, you’ll have the power to spend at thousands of locations worldwide and boost your credit line.
And even with less-than-perfect credit, you can still get approved. Avant considers a range of factors when evaluating your application, not just your score.
So, if you want to establish or rebuild your credit, this card could be a good fit for you.
You can also spend on the go with the Avant mobile app, where you can easily manage your account, track your expenses, and make payments.
But before diving in, don’t forget the dreaded fees. The Avant card has an APR between 30.24{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa} and 35.24{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa}, much higher than the average of 24.54{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa} [email protected].
It also comes with annual and late fees—so don’t skip over this when calculating your expenses.
How does Avant Credit Card work?
The Avant credit card works like a standard credit card. You can make purchases anywhere a Mastercard is accepted, in-store and online.
When you receive your card, you’ll get a credit limit, which can range from $300 to $3,000. Your limit is based on your financial records and determines your spending power.
A $300 limit is pretty low, but after showing good credit behavior, you can request a higher limit by contacting customer service.
A big perk of the Avant card is its potential to increase your credit score. Avant reports your credit card activity to all three credit bureaus, so your responsible credit behavior won’t go unnoticed.
Remember
Make on-time payments and keep your credit utilization low to build a solid foundation for your financial future.
Read more:
Avant Credit Card: Quick Summary Review
Let’s start with a simple overview:
Avant Credit Card Fees
The Avant card comes with some eyebrow-raising fees:
|
Fee |
Detail |
|
Annual fee |
$39 |
|
Processing fee |
$0 |
|
Monthly maintenance fee |
$0 |
|
APR |
30.24{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa}–35.24{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa} |
|
APR for cash advances |
30.24{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa}–35.24{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa} |
|
Balance transfer fee |
N/A |
|
Cash advance fee |
$10 or 3{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa} of the amount of the cash advance, whichever is greater |
|
Foreign transaction fee |
$0 |
|
Late fee |
Up to $39 |
|
Minimum interest charge fee |
No less than $1 |
|
Returned payment fee |
N/A |
|
Over limit fee |
N/A |
|
Additional card fee |
N/A |
Avant Credit Card: Pros & Cons
Let’s see how the Avant credit card benefits stack up against the drawbacks:
Pros
- Easy credit approval.
- No foreign fee.
- No security deposit.
- Chance to pre-qualify.
- Potential credit score boost.
Cons
- Annual fee.
- High APR fee.
- No rewards.
- High cash advance APR.
- Low $300 minimum credit limit.
Pros: What We Like
Easy credit approval
The Avant card has a more inclusive approach to credit approval, accepting those with credit scores of 580 or higher.
So, if you’ve faced some financial hiccups in the past, no worries. Avant lets you prove your creditworthiness and improve your score over time.
No foreign fee
Love to travel or shop internationally? The Avant credit card has no foreign transaction fees.
You can swipe your card around the globe without worrying about extra charges and sip your Italian espresso without any unwelcome surprises.
Check out the top travel credit cards.
No security deposit
Credit cards for those with bad credit often ask for a security deposit as collateral. But with the Avant card, you can wave goodbye to that extra burden.
Instead, you’ll just need to pay the annual fee of $39, which is much more affordable.
For more options, check out these unsecured cards:
Chance to pre-qualify
If you’re curious about your approval odds, Avant lets you take the first step without committing to the full application.
Through their pre-qualification process, you can see if you meet the eligibility requirements without affecting your credit score.
Potential credit score boost
The Avant credit card can be a valuable tool in your credit-building arsenal as it reports to all three credit bureaus.
Remember
By consistently making on-time payments and keeping your credit utilization in check, you’ll be on track to boost your credit score over time. This opens doors to better interest rates, loan approvals, and more favorable financial opportunities down the road.
Read more:
Cons: Things to Consider
Annual fees
If you visit the Avant card site, they make it clear that you need to pay an annual fee of $39. But if you dig a little deeper, their Cardholder Agreement says this fee could go up to $59.
While this may not break the bank, it’s essential to consider this cost when evaluating the overall value of the card.
High APR fee
Let’s talk about the APR (Annual Percentage Rate). The Avant credit card’s APR ranges from 30.24{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa} to 35.24{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa}, which is higher than other cards on the market.
If you carry a balance, this steep APR can result in major interest charges. Be mindful of this and try to pay off your balance in full each month to avoid getting caught up in the interest whirlpool.
High cash advance APR
Another big downside of the Avant credit card is the high cash advance APR, which ranges from 30.24{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa} to 35.24{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa}.
If you use your credit card for a cash advance, such as withdrawing cash from an ATM or transferring funds to a bank account, you’ll be hit with a high-interest rate.
Low $300 minimum credit limit
The Avant card has a low minimum credit limit of $300. While this may be enough for everyday expenses, you should evaluate if this limit aligns with your spending habits.
You can request a higher limit (up to $3,000) but this isn’t guaranteed as it depends on your creditworthiness.
No rewards
The Avant card doesn’t offer a traditional rewards program. So you won’t earn cashback, points, or miles for your spending.
Unfortunately, this tends to be the norm with cards for poor or fair credit. But if you boost your score, you can graduate to a better card packed with rewards.
Check out the Petal 2 card if you want more rewards.
Avant Credit Card: Things to Know
Where can I use my Avant credit card?
You can use the Avant card practically anywhere you can use a Mastercard, which is widely accepted around the globe.
It’s welcomed inover 210 countries around the world [email protected]. And without foreign transaction fees the Avant Credit Card will have you covered whether you’re exploring the markets of Marrakesh or splurging online.
You can use your card at ATMs to get cash through the cash advance feature. However, cash advances are limited to 25{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa} of your credit limit.
And then there are the fees, which will be $10 or 3{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa} of the cash transaction amount (whichever is greater).
Remember
The interest on cash advances starts accruing immediately, so it’s wise to repay the amount as soon as possible to minimize the interest charges.
What’s the Avant card credit score requirement?
To be eligible for the Avant credit card, you should have a FICO credit score of 580 or more.
Your credit score is a reflection of your creditworthiness. So with a score over 580, you showcase a decent level of responsible credit habits, which increases your chances of being approved.
Remember
Credit score requirements can vary and aren’t the only factor for credit card approval. Avant also considers other aspects, such as your income, credit history, and debt obligations. If you don’t meet the exact credit score requirement, it doesn’t mean you’re out of the game.
Maintaining a healthy credit score can boost your chances for financial success. A FICO score of over 580 opens doors not only to the Avant credit card, but also to other favorable financial opportunities.
Read more:
How do I pay for my Avant credit card online?
To make payments for your Avant card, you have a couple of options to choose from.
First, you can register your account with Avant. Once that’s done, you can choose between two payment methods: AutoPay or one-time payments.
If you prefer a hands-off approach, set up AutoPay and let the magic happen. They will automatically deduct recurring payments from your registered account on your specified dates. (No more worrying about missing due dates or late fees.)
But if you like to be in control, go for one-time payments. Simply log in to your Avant account and initiate payment on the date of your choice. It’s as easy as a few clicks, and you’ll be able to pay up exactly when you want to.
And if you’re old-school and prefer the traditional method, you can send a paper check or money order payment to the following address:
Avant, LLC
PO Box 1429
Carol Stream, IL 60132-1429
Just make sure to include some important information on the check: your full name as it appears on your statement and the last four digits of your credit card account number.
When you make a payment, it might initially show as “pending” while it goes through overnight processing. Rest assured, if you make your payment before 5:00 p.m. CT, it will be credited on the same day.
What is the Avant credit card limit?
The minimum credit limit is $300, but this can shoot up to $3,000 (depending on your credit habits and history).
Your credit limit determines the amount of purchasing power, but Avant offers some flexibility.
If you want to increase your limit, you have two options: You can patiently wait for periodic reviews where Avant may consider increasing your credit line. Or, you can take matters into your own hands and call them at 1-855-AVANTCARD to request a line increase.
Remember
Your approval for credit line increases can depend on various factors, such as your credit habits and financial information. A higher limit isn’t guaranteed.
But what if you’re looking to go in the opposite direction? If you want to decrease your credit line, reach out to an Avant card customer specialist and they’ll help you make that adjustment.
And if you accidentally venture beyond your credit limit, Avant card won’t hit you with over-limit fees. They do, however, recommend bringing your outstanding balance below the credit limit to keep you in their good books.
Choose your spending wisely, manage your credit responsibly, and enjoy the freedom that comes with a well-utilized credit line.
Does Avant credit card offer pre-approval?
Yes, Avant offers pre-approval for their credit card.
This allows you to check if you meet the initial criteria for approval without affecting your credit score.
Pre-approval is all about saving time and avoiding unnecessary credit inquiries. By taking advantage of this, you can see your chances of getting approved for their card before officially applying. This helps you make an informed decision and saves you from disappointment or multiple credit inquiries.
Remember
Pre-approval is not a guarantee of final approval, as additional factors are considered during the official application process. But it serves as a helpful initial step to assess your eligibility.
To check if you qualify for the Avant credit card, head to their pre-approval page.
Just provide some basic information, then you’ll receive your pre-approval status. It’s a quick, convenient, and smart move if you’re considering the Avant credit card.
Is Avant a good credit card?
The Avant card can be a handy option if you’re trying to build credit and have struggled to get your hands on other credit cards.
Their pre-approval process is a convenient way to gauge your chances of approval, and their AutoPay and one-time payments help you stay on top of your finances.
But if you tend to carry a balance, you might want to keep your distance, as the Avant card comes with steep interest charges between 30.24{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa} and 35.24{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa}.
Another downside is the low minimum credit limit of $300, which doesn’t give you a ton of flexibility.
Ultimately, whether the Avant is a good credit card depends on your individual needs and priorities, so carefully consider the pros and cons before making a decision.
Take a look at more credit cards for those with bad credit.
Avant Credit Card Customer Reviews
Despite its steep fees, the Avant card has received a generally positive response online.
On Trustpilot, the card has an impressive rating of 4.6 out of 5 from 24,939 customer reviews.
One customer said, “While the cost of this card is high, it’s driven towards challenged credit situations with the ability to raise your credit score. The simple app lets you see your transactions and pay your bill quickly.”
Others commented on how easy it is to get a credit limit increase, “Avant card is one of the best credit cards available for all. I got this card about six months ago and have never had a problem using it across the world. After six months, I requested to increase my limit, and they approved it right away.”
But it’s not all sunshine and rainbows, “One of the worst and unethical credit card companies out there. From a $2,500 credit limit, within three months of use, my credit limit reached $300 with one late payment reported for no reason.”
Many of the reviews of Trustpilot are about Avant’s loan services. So if you want information about the card, just use the filter options and type in a keyword.
How Does the Avant Credit Card Compare?
Here are some top tips for choosing a credit card—
Examine whether the card’s rewards scheme fits your preferences and whether it is consistent with your financial goals. Make sure it meets your needs and financial circumstances by carefully reading the terms and conditions.
Founder of Real Estate Holding Company, LLC
Read more:
Avant Credit Card: Useful Links
Is the Avant Credit Card Good For Me?
Here’s who the card is best suited for:
- For those looking to establish or improve their credit history.
- Cardholders who prefer options like AutoPay and one-time payments.
- Individuals who want to pre-qualify.
Ultimately, the Avant credit card is a credit-building option. It may not come with all the fancy frills and rewards, but it lets you climb the ladder, open doors, and graduate to a better card.
However, if you have got a track record of carrying a balance, you might want to avoid this one. And since Avant card reports your credit activity, make sure you can make on-time payments, or your credit score could take a hit.
So, take your time, assess your priorities, and make a choice that aligns with your financial journey.
FAQ
Who owns Avant credit card?
Avant credit card is owned by Avant, LLC, a financial technology company based in Chicago. Avant is the parent company of the Avant credit card, offering a range of financial products and services.
By focusing on lending and innovative solutions, Avant aims to provide accessible credit options to consumers while helping them build credit. Their ownership of the Avant credit card ensures the integration of their services and expertise into the card’s features and benefits.
Take a look at more credit cards for those with poor credit.
What is the highest credit limit for the Avant credit card?
The highest credit limit for the Avant credit card is $3,000, depending on factors such as your creditworthiness and financial profile.
Avant evaluates each applicant individually, considering factors like credit history, income, and debt-to-income ratio to determine the appropriate credit limit.
While $3,000 is the maximum limit offered, it’s important to note that not everyone will qualify for this amount.
If you want to boost your credit limit, you can speak with customer support to request an increase.
Find out how to increase your credit score to boost your chances of a higher credit limit.
How long does it take to get my Avant credit card?
After submitting your application, it usually takes a few minutes to receive a decision. If approved, the Avant credit card is typically delivered within seven to ten business days.
The timeframe may vary depending on factors such as verification requirements and your location, but Avant aims to process applications efficiently—ensuring a smooth and prompt card delivery experience.
While you’re waiting, check out the best unsecured cards for bad credit.
Does Avant credit card offer cash advances?
Yes, the Avant credit card offers cash advances, so you can access cash when needed.
However, cash advances are limited to 25{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa} of your credit limit, ensuring responsible borrowing practices.
There is also an additional fee associated with cash advances. The fee, which is the greater of $10 or 3{1652eb1ffa4184925f6a63a9c04ea6b421acb7a78117241e7d4325cdca8339fa} of the cash transaction, is charged upfront.
It’s worth noting that interest begins to build up right away on cash advances, so it’s advisable to repay it promptly.
To obtain a cash advance with your Avant credit card, visit an ATM and use your PIN. This allows you to access the cash you need conveniently.
But cash advances generally come with higher fees and interest rates than regular purchases, so it’s wise to explore alternatives if possible.
Take a look at the best cash advance apps.
Can I use my Avant credit card before it arrives?
No, you won’t be able to use it before it arrives.
The physical card is necessary for making purchases at physical stores or using it for transactions that require the physical presence of the card, like ATM withdrawals.
However, once you receive your Avant credit card, you’ll be ready to embark on your financial journey and enjoy the benefits it offers.
Check out the best credit cards on the market.
How to check the balance on Avant credit card?
To check your Avant credit card balance, simply follow these steps:
- Log in to your Avant online account by visiting their website or using the Avant mobile app.
- Once logged in, navigate to the account summary or dashboard section.
- Look for the “Balance” or “Account Balance” section, which will display your current balance.
Checking your Avant credit card balance is essential to stay on top of your finances. It helps you track your spending, monitor your available credit, and make timely payments.
By regularly checking your balance, you can maintain financial control and avoid any surprises when it comes time to settle your credit card bill.
How do I contact Avant credit card customer service?
The Avant credit card phone number is 55-752-7012. They are available Monday–Friday from 7:00 a.m. to 10:00 p.m. (central) or Saturday–Sunday from 7:00 a.m. to 8:00 p.m.
You can also email them at [email protected]. Avant also has a Support page on their site where you can access a range of questions and answers.