Credit Cards » Credit Card Reviews » Avant Credit Card Review 2023: Here’s What To know Before Apply
Advertiser Disclosure This website is an independent, advertising-supported comparison service. The product offers that appear on this site are from companies from which this website receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This website does not include all card companies or all card offers available in the marketplace. This website may use other proprietary factors to impact card offer listings on the website such as consumer selection or the likelihood of the applicant’s credit approval. This allows us to maintain a full-time, editorial staff and work with finance experts you know and trust. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impacts any of the editorial content on The Smart Investor. While we work hard to provide accurate and up to date information that we think you will find relevant, The Smart Investor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. Learn more about how we review products and read our advertiser disclosure for how we make money. All products are presented without warranty.

Avant Credit Card Review 2024: Here’s What To know Before Apply

The Avant Credit Card is a great card for people who are looking for a way to get back to the basics and build a solid line of credit.
Author: Lorraine Smithills
Lorraine Smithills

Writer, Contributor

Experience

Lorraine is a freelance finance writer with years of experience in the banking sector and after a successful career in one of the largest retail and commercial financial services providers. She has a passion for helping people with less financial confidence to get control of their money through budgeting, saving, and responsible credit practices.
Interest Rates Last Update: April 15, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Lorraine Smithills
Lorraine Smithills

Writer, Contributor

Experience

Lorraine is a freelance finance writer with years of experience in the banking sector and after a successful career in one of the largest retail and commercial financial services providers. She has a passion for helping people with less financial confidence to get control of their money through budgeting, saving, and responsible credit practices.
Interest Rates Last Update: April 15, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

Avant Credit Card

avant card

Rewards Plan

None

Sign up Bonus

None

Credit Rating

Poor – Average

0% Intro

None

Annual Fee

$59

APR

35.99% Variable
Avant Credit Card

avant card

Rewards Plan

None

Sign up Bonus

None

0% Intro

None

PROS

CONS

APR

35.99% Variable

Annual Fee

$59

Balance Transfer Fee

Unknown

Credit Requirements

Poor – Average

The Avant Credit Card is a great starting place for anyone who is looking to build a line of credit, or has limited credit options due to past credit encounters.

Despite the fact that the Avant Card has limited bonus options and perks when compared to other credit cards, it does give a lot of love for people who are looking for a card that can help boost their credit score quickly, especially when it comes to people who are applying for a first credit card. The Avant Credit Card offers an alternative route when it comes to building a credit history. 

While there isn’t a security deposit required, Avant does has an annual fee. This fee is disclosed to applicants during the pre-qualification process, and while this is generally $59 annually, Avant does state that this can vary depending on market tests.  

The card isn't available if you live in Colorado, Iowa, Massachusetts, Vermont, West Virginia or Wisconsin. Avant Credit Card isn’t available in these states. Avant Credit Card is offered through Avant, which is based out of Chicago, Illinois.

  • No Security Deposit
  • Reports to Three Credit Bureaus
  • Travel Friendly Benefits
  • Pre-Qualification Process
  • Periodic Account Review
  • Annual Fee
  • No Rewards
  • Lower Credit Limit
  • High APR Rate
  • Hard set Payment Date

Does Avant Report Payments To All Credit Bureaus?

Avant does report all payment activity for its cards to all three credit bureaus. This means that using your card responsibly can help to improve your credit score across various credit scoring platforms.

Can I Get Pre Approved?

Before going through a complete application, there is an option to get pre-approved for the Avant Card. This pre-qualification process will not impact your credit score and will give you a reliable indicator of whether you will likely be approved.

This process does not trigger a hard credit pull, which will only be initiated if you proceed with a full application.

Can I Add An Authorized User?

Avant does not allow you to add authorized users to your account or to create a joint account. So, if you want to share your credit card with family members or friends, this is not the right card choice.

What Is The Initial Credit Limit?

You can expect an initial credit limit with the Avant card of at least $300. However, your specific credit limit will be determined by your creditworthiness, income and other factors.

In this Review..

Benefits

The miles that a cardholder accumulates can be redeemed in a number of ways, which include using miles for travel to over 1,000 worldwide destinations on both one-way and round trips. 

These miles can also be redeemed to upgrade seats to business and first class on flights, car rentals, hotel stays, and vacation packages. 

Since there is no limit to the number of miles that a person can accumulate, the trip possibilities are rather endless.

The Avant card is an unsecured credit card, which means that it does not require a security deposit as collateral like many other cards that are like this.

As previously mentioned, however, there is an annual fee of $59 for some cardholders. 

Because this card is designed for people with limited credit, having a card that reports to at least one of the three major credit bureaus is extremely important for long term credit success. 

The Avant Credit Card reports to all three (TransUnion, Equifax, and Experian), which will record payment history. As long as the card holder makes their payments on time, this can help build a better credit score.

The Avant Credit Card is a Mastercard, which means that it will be accepted worldwide. On top of this, it doesn’t charge a foreign transaction fee, which can potentially be a money-saver for any card holder that does travel often.

Before an applicant would officially apply for this card, Avant requires the user go through a pre-qualification process that doesn’t impact your credit score. This process gives a closer insight to see the likelihood of getting approved, and states the terms that the card holder would have if they decided to move forward. 

Although this insight is given, it is not a 100% guarantee of approval. If the applicant likes these terms, then they can move forward and actually have the hard inquiry to get approved for the Avant card.

The issuer of the Avant Credit Card reviews each account periodically to potentially increase your credit limit. This can play a key factor in establishing credit, just so long as the card holder doesn’t use too much of their credit.

Drawbacks

While for some AvantCredit Card holders the annual fee may be $59 , the company does state that this is subject to change based on market testing.

Even within credit building credit cards, there are other options, such as the Petal Visa credit card, that serve as a great credit building tool while not charging an annual fee or security deposit.

Along with the 35.99% Variable, there certainly are some other things to consider. 

Because the Avant Credit Card’s main purpose is to act as a credit builder, it isn’t a big surprise that there are no types of cash back or travel rewards that come with using this card. Despite the fact that rewards aren’t largely important, there are other starter cards that do offer them. 

Cards like the Deserve Pro MasterCard offer a 1% cashback on every purchase, while offering a $0 annual fee.

The credit limit range for the Avant Credit Card is a bit low for a starter card – up to $1,000. With this being said, there are other alternatives like the Petal2 Visa card that offer higher credit limits that can go as high as $10,000. 

If a person is looking for more flexibility with their spending limits, these are possible alternatives to consider.

With any credit card, the goal is to pay off your balance every month. However, life happens and sometimes you may not be able to pay off your statement balance in full.

If this happens with the Avant card you’re going to feel the sting as you get hit with a 35.99% Variable APR which is high compared to other secured credit cards. 

Unlike other cards, the card holder can’t switch their “payment due” date to a more convenient payday. 

While this isn’t a dealbreaker with the Avant Credit Card, it certainly can be an inconvenience having to plan out how to make the payments if they don’t like up with other bills that you pay.

How To Apply For Avant Credit Card?

Visit the avant Credit Card homepage and click “Apply Now.”

Avant Credit Card_Apply for a Credit Card

This takes you to the next page, where you can fill in your “Personal Information” such as your Names, date of birth etc.

Avant Credit Card_Apply for a Credit Card

Lastly, ensure you read through the important disclosure page to know your eligibility, fees, costs, rates, etc. Then click on “Continue” to complete the process.

Is the Avant Credit Card Right for You?

The Avant Credit Card is a great card for people who are looking for a way to get back to the basics and build a solid line of credit. 

One of the best things about this card is that it looks past just credit history to determine if the applicant would be eligible for the Avant. 

This, along with the travel-friendly features, no security deposit needed, and the fact that Avant reports to all three credit bureaus, makes the Avant Credit Card a great stepping stone to better credit.

Are there any credit cards with guaranteed approval for people with bad credit?

Secured cards are the closest thing to a card with a 100% approval rate. To protect your card, you must first give a cash security deposit. This deposit is held in a separate account by the card issuer to ensure that if you fail to pay your bill, they can recover the funds. Because the issuer is protected, it is simpler for those with low credit to get approved.

Most issuers, however, will do a credit check, so you may be required to satisfy a minimum credit score.

Your card issuer will report your activity and payments to the credit bureaus when you use the card. As a result, you can increase your credit score by using this card. In reality, after a specific length of good payment history, several issuers provide the option of upgrading to an unsecured card.

 

What Are the Best Credit Cards with No Annual Fees for People with Bad Credit?

When picking a credit card, the annual fee is an important item to consider. Fortunately, there are some excellent no annual charge credit cards available for people with weak credit.

You may get cash back with the Discover It Secured Card, which has no annual fee. You can earn 2% in restaurants and gas stations with a combined cap of $1,000 every quarter, and an unlimited 1% on all other transactions. The card also features a six-month introductory APR of 10.99 percent for balance transfers. After that, the rate is changeable at 22.99 percent.

A security deposit of $200 or more is required to establish your credit line with this card. This is a non-refundable fee that will assist in determining your credit limit.

Capital One's Secured Mastercard is another alternative. You can get a $200 initial credit line if you make a $49, $99, or $200 security deposit. The more money you deposit, the more likely you are to be given a larger credit line.

Although there are no benefits with this card, you may be automatically eligible for a larger credit line after 6 months. Capital One also keeps track of your account, and if you show that you're responsible with it, you can get your initial deposit back as a statement credit.

For many consumers, a lack of an annual fee is an attractive feature of any credit card. Lenders have recognized this trend, and today, most cards do not have an annual fee. However, savvy consumers want more from their credit cards. In this chart created with US news data, you can see the percentage of no-annual fee cards by card type.

 

What is the Easiest Way to Get a Credit Card With Bad Credit?

If you're afraid about getting a card because of your terrible credit, there are those that are considered the simplest to get. The Indigo Unsecured Mastercard is one such card.

This card was created for folks with less-than-perfect credit in mind. Prequalification is straightforward and has no bearing on your credit score. Despite the lack of a security deposit, this is an unsecured credit card. Your card payments will also be recorded to all of the main credit agencies, which will aid in the development of your credit history.

The OpenSky Secured Visa is another alternative. This is a secured card, but no credit check is required. With a cash deposit of up to $3,000, you can choose your own credit limit. Like the Indigo, all your account activity will be reported to the credit bureaus, helping you to qualify for an unsecured card in the future.

The OpenSky application process takes just five minutes, but you should be aware that there is a $35 annual fee.

Compare The Alternatives

There are more cards for bad credit worth mentioning as alternatives to the Avant card:

chime card

Capital One Journey Student Card

discover-it-student-cash-back_5mNPw7i

Chime Credit Builder
Capital One Journey
Discover It Student Cash Back
Annual Fee
$0
$0
$0
Rewards
None None
Up to 1.25% earn 1% cash back and another 0.25% if you pay on time, so you can boost your cash back to a total of 1.25%
1-5% 5% cash back on activated rotating category purchases (up to $1,500 in purchases each quarter, then 1%) and 1% on all other purchases
Welcome bonus
None None
None $5 per month for 12 months on select streaming subscriptions when you pay on time
Match Bonus Match Bonus for the first 12 months
Foreign Transaction Fee
0%
None
$0
Purchase APR
N/A
29.99% (Variable)
18.24% – 27.24% Variable

FAQ

Avant does not give a specific answer to this question, as the results can vary depending on your specific financial circumstances. However, a good guideline is that you should see a change in your credit score after three to six months of responsible car usage.

Avant is unlikely to give you a specific reason if your application has been denied. You will need to do a little investigating to check your overall credit score, debt to income ratio, credit utilization and if there are any red flags on your credit history. If you identify any areas of concern, you can work on these and then look at reapplying after several months.

This card is designed for those with average credit, but it does have a high APR and an annual fee. If your credit score is average to good, you are likely to find there are other available cards with a lower rate and card perks that could be of better benefit to you.

 

Review Secured Credit Cards

Picture of Lorraine Smithills

Lorraine Smithills

Lorraine is a freelance finance writer with years of experience in the banking sector and after a successful career in one of the largest retail and commercial financial services providers. She has a passion for helping people with less financial confidence to get control of their money through budgeting, saving, and responsible credit practices.
Search
Best Cards Per Category
Offers From Our Partners

Milestone® Mastercard®

Annual Fee:
$175 the first year; $49 thereafter
APR:
35.90%

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.

Milestone® Mastercard®

Annual Fee:
$175 the first year; $49 thereafter
APR:
35.90%
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

#1 In credit Cards

Our Newsletter

Sign up to our newsletter for secret credit card tips, insider advice, and exclusive deals straight to your inbox

Start saving smarter with

Our Credit Card Newsletter

Sign up for our newsletter and gain access to expert advice,
insider knowledge, and exclusive offers

Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

Credit Card Reviews Methodology

In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.