The Avant Credit Card is a reasonably priced unsecured credit card for people with
fair credit, charging a
$39 annual fee with no monthly fees, no initial fee, and no deposit needed. The Avant Card also gives you a credit limit of $300+ and reports account information to the three major credit bureaus each month. That enables you to improve your credit standing as well as deal with unexpected emergency expenses that aren’t affordable with cash on hand.
Avant Mastercard has a high APR of
35.99%, so you should not carry a big balance from month to month for too long. The Avant Card does not offer rewards, either, so your goal should be to graduate to a better offer after around 6-12 months of responsible use.
Now that you’ve been introduced to the Avant Credit Card, there are a few additional things that you should know about the offer before making a final decision. Below, you can find a breakdown of the most important factors to consider when trying to decide whether or not to apply for the Avant Credit Card.
What I Like About the Avant Credit Card
Unsecured Credit Limit: Starting at $300
The Avant Card’s credit limit is
$300 or higher to start, with no security deposit needed for collateral. Some applicants may be approved for an initial credit limit beyond
$300 depending on their creditworthiness. Cardholders who use the card responsibly may eventually receive a credit limit increase, too.
Monthly Credit Reporting: All 3 Bureaus
WebBank, the Avant Card’s issuer, reports account information to the three major credit bureaus on a monthly basis. If that information reflects on-time payments and
low credit utilization, it will lead to credit-score improvement.
Easy to Check for Eligibility: Pre-Qualify Online
Avant Credit Card applicants don’t have to waste a hard credit inquiry unless they have high odds of approval, as WebBank requires interested individuals to pre-qualify first. This has no impact on your credit score, and if you are pre-qualified, your chances of getting approved if you submit an actual application are very good.
What I Don’t Like About the Avant Credit Card
Annual Fee: $39
The Avant Credit Card’s
$39 annual fee is high for a credit card overall, as the average annual fee among all credit card offers is
$28.25. Many credit cards for people with fair credit also have $0 annual fees.
However, the Avant Card is less expensive than most
unsecured credit cards for people with bad credit, many of which have initial fees and monthly fees in addition to annual fees above what Avant charges. So, if you can find a way to qualify despite having bad credit, this feature will become more of a benefit than a drawback.
High Interest Rate: 35.99%
The Avant Credit Card’s interest rate, at
35.99%, is higher than what the average credit card offer charges (
22.11%). Even secured credit cards tend to have lower APRs, averaging
21.76%.
As a result, financing purchases with this card will get very expensive very quickly. Fortunately, you can avoid interest charges by paying the bill in full monthly.
Missing Rewards: None Offered
The Avant Mastercard does not reward cardholders for making purchases, putting it at a disadvantage relative to the best credit cards for people with fair credit. The Avant Credit Card’s main benefits are the opportunity for credit improvement and the card’s unsecured credit line.
You should keep in mind that the Avant Credit Card’s terms may differ a bit from person to person, depending on their credit profile and how they apply. So, you should double-check the details before you agree to open an account.
If you have questions about an existing account or you want to check the status of a recent application, the Avant Credit Card customer service number is
855-752-7012.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
