Avant Credit Card Review

The AvantCard considers non-traditional factors to determine eligibility. It comes with no annual fee and is card that is more than capable of helping you establish and build credit responsibility.
  • Annual Fee:
    $39
  • Regular APR:
    24.99% Variable
  • Recommended Credit Score:
    610 - 690

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The Avant Credit Card is ideal for people with a limited credit history or average to fair credit. If you’re looking to improve your credit score and build up a better history, this would be a good choice as it requires no deposit.

Most cards geared towards people that don’t have the best credit have a lower credit limit, but the Avant Credit Card is more generous than many others. There are a few benefits that may make this a great fit for you.

Avant Credit Card Pros and Cons

Pros:

  • Reports to all of 3 the major credit reporting agencies
  • Most people with average credit will qualify
  • No fees on foreign transactions

Cons:

  • No rewards available
  • Annual fee required
  • Regular APR is high

Avant Credit Card Review

  • Annual Fee: $59
  • Regular APR: 24.99% variable
  • Rewards: None

Avant Credit Card Features and Benefits

The Avant Credit Card is pretty simple, as far as features go, but some perks would make it a good option for a college student or other young adult that is starting out with minimal credit history.

No Hidden Fees

Many people find it frustrating to have a credit card because there are often hidden fees that increase the amount they are responsible for paying.

Unlike many of the competitors, the terms of the Avant Credit Card clearly lay out everything you will be required to pay. When it comes to fees, Avant hides nothing.

The variable APR for cash advances and purchases is quite high, at 24.99%, and you do have an annual fee of $59. Additionally, they have late fees of up to $39, and cash advances will cost you 3% of the cash amount, with a minimum of $10. They do save you money in a couple of ways, however. They don’t require a security deposit, and there are no foreign transaction fees.

Easily Build Credit

If your goal is to improve your credit, this would be a good choice. Each month, Avant reports your payment habits to all 3 major credit reporting agencies. With low credit utilization and on-time payments, your score will improve in no time.

Fast Application & Pre-Qualify Online

Applying for a credit card can be a nerve-wracking thing. If you’re unsure if you’re going to qualify, you can’t always check ahead of time to see if you’re qualified before applying.

Avant has a pre-qualification tool that you use before you submit the application that allows you to see whether or not you’re likely to be approved. This process doesn’t pull a hard inquiry on your credit score.

If you decide you would like to apply, filling out the application online is easy. Avant will do a hard pull on your credit report when the application goes through, but if you are pre-qualified, you will most likely be approved. Once you get your card, you can start working on improving your credit score.

Travel Friendly

One of the most unique features that Avant cardholders get to experience is fee-free international shopping. While it isn’t as good as some other travel credit cards, it is one of the best for those with new or not favorable credit.

If you often travel outside of the United States, you are likely familiar with the 1%-3% standard fee on foreign transactions. Using this card as a frequent international traveler could save you a good amount.

Can Potentially Increase Credit Limit

To start, cardholders have a credit limit of anywhere from $300 to $1,000, depending on their credit history.

Even if you start at the low end, you can gradually increase your credit limit, provided you make your payments on time each month. The more you improve your credit score, the higher the limit that will be available to you.

How Does the AvantCard Compare to Other Credit Cards?

#1. Avant Credit Card vs. Discover it® Secured Credit Card

If your credit score is good and you’re interested in a card that offers rewards, Discover it® Secured Credit Card would be a great alternative to the AvantCard.

While the APR for the Avant Credit Card is 24.49% to 25.49%, the Discover it® Secured Credit Card has a much lower rate, ranging between 11.99% to 22.99%. AvantCard does have a lower cash advance fee of 3% compared to Discover its rate of 5%.

Other benefits of the Discover it® Secured Credit Card include:

  • Earn 5% cash back at grocery stores, restaurants, Amazon, gas stations, and on PayPal purchases
  • All other purchases earn 1% cashback
  • Cashback match for one year
  • No annual fee

>> More: Discover it® Secured Credit Card Review

#2. Upgrade Visa® Card vs. AvantCard

The Upgrade Visa® Card is another card that has a lot of similarities to AvantCard and some differences.

Like the Avant Credit Card, Upgrade Visa® Card does not have super strict guidelines for approval, as they’ll accept most people that have a fair credit score.

This is ideal for people who don’t have the best credit history and want to improve their scores.

Additional benefits that Upgrade Visa® cardholders get to enjoy include:

  • 1.5% cash back rewards
  • APR as low as 8.99%
  • While you wait for your physical card to come in the mail, you have access to a virtual card for online purchases
  • Mobile app allows you to keep an eye on your account from anywhere

>> More: Upgrade Visa® Credit Card Review

#3. OpenSky® Secured Visa® Credit Card vs. AvantCard

For those that are still unsure about the AvantCard, OpenSky® Secured Visa® Credit Card is another alternative. Like the Avant Credit Card, it does have an annual fee ($35 for OpenSky, compared to AvantCard’s $59).

OpenSky does charge a transaction fee of 3% on international purchases, while AvantCard has no foreign transaction fee.

OpenSky® Secured Visa® Credit Card also requires a deposit of anywhere from $200 to $3,000. AvantCard does not require a deposit.

OpenSky® Secured Visa® Credit Card has several other benefits, including:

  • Fraud protection
  • Roadside assistance
  • Great for people with low credit scores

>> More: OpenSky® Secured Visa® Credit Card Review

Frequently Asked Questions

Is the Avant Credit Card Worth It?

The Avant Credit Card is definitely worth it if you don’t care about having a lot of different features or rewards.

This is definitely a simple, basic card that doesn’t come with any rewards programs or perks of the like.

It has a higher APR, but if your goal is to simply get any credit card that you’re qualified for, it would be an acceptable choice.

Some of the benefits include:

  • No deposit required
  • Accepts lower credit scores
  • Mastercard, so it can be used in most places that accept major credit and debit cards

Will the AvantCard Help Me Build Credit?

For those with a short credit history or mediocre credit score, the AvantCard can certainly help you improve the score over time.

All credit cards report your score, but Avant reports directly to all 3 of the major credit reporting companies.

As long as you are using the card minimally, you are on time with your payments, and don’t let your balance get away from you, you should see your score improve.

Being able to build your credit can be helpful in the future. Lenders are unlikely to give loans to people with poor credit, so if you ever want to be able to buy a car from a dealership, rent, or buy a home, it’s a good idea to get your score up as early as you can. The longer your history of good credit practices, the better.

What Credit Score Do You Need for Avant Credit Card?

To be approved for the Avant Credit Card, you need to have an average score. This can be anywhere from 630 to 689.

If you haven’t checked your credit score in a while and are unsure of what your score currently is, you don’t have to worry about a hard inquiry into your credit score unless you actually apply for the AvantCard.

Before filling out and submitting your application, Avant requires all potential cardholders to go through the preapproval process to see if they’re even likely to be approved. The good news is that most people that pass the pre-qualification do end up getting approved.

Does Avant Give Credit Increases?

When it comes to your credit limit, Avant allows you to start with a limit between $200 and $1,000. Luckily, you are not locked into this limit for the life of your account with Avant.

As long as you are being responsible with your credit, making your payments on time, and don’t carry too high of a balance most of the time, you are very likely to be offered an increase in your credit balance.

While you may start out on the low end, one of the benefits is that you can work your way up.

Bottom Line: Avant Credit Card Review

When it comes to finding a credit card that is simple, straightforward, and will help you build your credit over time, the Avant Credit Card would be a great option.

It’s ideal for young adults who haven’t had much credit to add to their history or for people trying to recover from struggling with their credit previously.

Drew Cheneler
Drew Cheneler
Drew is a recognized Credit, Small Business, and Personal Finance Expert. He has been quoted in CNBC, Fox Business News Section, The Huffington Post, Business.com, Moneyunder30, US Chamber of Commerce, and more. He is known for breaking down complex personal finance topics into action-oriented advice, so you can make the most of your hard-earned money.