Avant Credit Card Review: Full Details
Avant Credit Card Overview
The Avant Credit Card doesn’t offer all the excitement and fun of other rewards credit cards, but it’s for people with average credit. As an unsecured credit card, it doesn’t require a deposit and can help build credit with responsible use.
For those with average credit, the Avant Credit Card offers a competitive starting credit limit compared to other unsecured and secured credit cards. Despite the annual fee, the Avant Credit Card may be worth it if you don’t qualify for a higher rewards credit card. Card Rating*: ⭐
*Card Ranking Based on the opinions of TPG editors and not influenced by card issuers.
The Avant Credit Card is designed for people with average credit who want to build their credit score and credit history with positive habits and activities. The appeal of the Avant Credit Card is the ability to pre-qualify with soft credit requestinform you of your approval rate as well as the interest rate and fees you qualify for before you apply.
The card can help you build credit easily because it reports to all three major credit bureaus—TransUnion, Experian, and Equifax. Applicants approved for the Avant Credit Card typically have credit score between 580 and 669.
Those who apply now will have to pay $39 annual fee and receive an annual percentage rate, or APR, ranging from 29.24% to 35.99%, based on creditworthiness. While the card starts with a $300 credit limit, Avant proactively increases your credit limit based on positive activity.
The Avant credit card makes sense if you’re focused on building credit rather than earning rewards.
The information about the Avant Credit Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Pros and Cons of Avant Credit Card
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Benefits of Avant Credit Card
Avant credit card not available welcome suggestions any type. Cardholders are initially approved for a credit limit of $300 and can increase it to a maximum of $3,000.
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One major benefit of the Avant Credit Card is that it reports to all three major credit agencies. TransUnion, Experian, and Equifax have different methods for calculating FICO scores, and banks and issuers will get their reports from one of the three.
In my experience, Chase gets its credit reports from TransUnion, while Citi gets its credit reports from Experian, here are some examples.
Avant credit card used Mastercard Networkoffers a number of core benefits. These include lost wallet assistance, emergency card replacement, discounted airport concierge services, and ID theft protection. As a Mastercard, the Avant Credit Card can be used anywhere Mastercard is accepted.
Related: What is a secured credit card?
Earn and redeem rewards on the Avant Credit Card
The Avant credit card is designed for people with average credit as a way to build their reputation with responsible activities and for those who are rebuilding their credit. For this reason, the card does not receive any rewards based on credit card spending.
This is pretty typical for credit-building cards, but it doesn’t justify the card’s annual fee.
What cards can compete with the Avant Credit Card?
The Avant credit card is unique in that it is an unsecured credit card for people with average credit and does not require a deposit to secure a credit limit. If you don’t want to pay an annual fee, here are three other options for beginners:
- If you like Capital One: The Capital One Quicksilver Secured Credit Card Earn 1.5% cash back on all purchases with no limits. While this card requires a $200 deposit to secure a credit line, the rewards earning potential and no foreign transaction fees are great (see prices and fees).To learn more, see Full Review of Capital One Quicksilver Secured Credit Card.
- If you like Explore: The Discover It Secured Credit Card earns 2% cash back at gas stations and restaurants (up to $1,000 in combined purchases per quarter) and unlimited 1% cash back on all other purchases. Your credit limit is equal to the amount of your deposit. This card has a great earning structure for a secured credit card.
- If you have good credit: The Citi Double Cash® Card (see prices and fees) earn unlimited 2% cash back on all purchases (1% when you buy, 1% when you pay your bill). Its simple earning system makes it a popular choice for people starting out with cash back cards. There is no annual fee for this card. To learn more, check out full review of Citi Double Cash.
For more options, check out our picks for best credit cards for beginners.
The information about Discover it Secured has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Related: Credit Cards 101: A Beginner’s Guide
Is the Avant Credit Card Worth It?
For those with average credit, the Avant Credit Card can be a solid option to help you build your overall credit history, but its annual fee makes it a poor choice compared to other credit-building cards. It may not do much to improve your credit score due to the maximum credit limit and lack of benefits. Overall, I recommend choosing another option.
Related: Why I Closed My First Credit Card and What I Would Do Differently If I Could Go Back
Last line
Whether you’re just starting out in the world of credit cards and have decent credit or have had some issues in the past that have caused your credit score to drop, the Avant Credit Card can help you fix that. With pre-qualification with a light inquiry and reporting to all three major credit bureaus, the Avant Credit Card is a safe choice for those looking to improve their financial habits and standing.
However, make sure you take the time to consider all your options before deciding on this type of card.
