Avant Credit Card Review: Unsecured Credit Builder

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.

Read more:

• How Long Does It Take To Get an 800 Credit Score?

• How Long Does It Take To Get A 700 Credit Score From 0?

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.

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.

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:

• Destiny Mastercard

• Petal 2 Visa Credit Card

• Indigo Platinum Mastercard

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.

The Avant credit card can be a valuable tool in your credit-building arsenal as it reports to all three credit bureaus.

Read more:

• How to Build Credit

• How to Build Credit With a Credit Card?

• How Long Does It Take to (Re)Build Credit?

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.

Let’s talk about the APR (Annual Percentage Rate). The Avant credit card’s APR ranges from 30.24% to 35.24%, 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.

Another big downside of the Avant credit card is the high cash advance APR, which ranges from 30.24% to 35.24%.

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.

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.

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.

You can use the Avant card practically anywhere you can use a Mastercard, which is widely accepted around the globe.

It’s welcomed in over 210 countries around the world cit@tion. 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% of your credit limit.

And then there are the fees, which will be $10 or 3% of the cash transaction amount (whichever is greater).

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.

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:

• What Is a Good Credit Score?

• What Are the Credit Score Ranges?

• How To Increase Your Credit Score Quickly

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.

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.

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.

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.

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.

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% and 35.24%.

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.