Yes, you can have an Avant Credit Card and an Avant personal loan at the same time. However, you shouldn’t apply for both of them simultaneously. According to customer service, only one loan or credit card per household can be funded at a given time.
So, it would be wise to first apply for either an Avant Card or a loan, not both. Once you get approved for one of them, you can proceed with applying for the other.
Here’s how multiple applications affect your credit score:
Applying for either an Avant Card or a loan requires a hard pull which usually causes an applicant's credit score to drop by 5-10 points. Most people’s scores bounce back within 3-6 months with responsible credit management, but it can take up to 12 months.
So, it’s best to give at least a 6-month window between the two applications.
Yes, the Avant Credit Card will do a hard pull. You can apply for it with no credit at all or even bad credit.
You can prequalify for the Avant Credit Card here, which will not affect your credit score as it will be a soft pull. However, if you do prequalify and want to get the card, you will need to submit an actual application which will result in a hard pull.
Applicants need a credit score of at least 600 to get a personal loan from Avant, according to multiple third-party sources. That means the Avant personal loan credit score requirement is in the bad credit range. To put this in perspective, most other lenders' credit score requirements for personal loans range between 585 and 700.
Keep in mind that just having a 600 credit score is not enough to qualify you for an Avant...
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