Avant Credit Card review: A decent choice with little added benefits
This would be a solid pick if it were open to people with bad credit or offered rewards.
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Snapshot
2.7
Bottom line
The Avant card is a decent choice to build credit if you have fair credit but struggle to qualify for unsecured cards with rewards and better credit-building features. You’ll just want to note that a secured card with a refundable security deposit may be more cost-effective since this card could charge an annual fee.
Intro offer
N/A
Annual fee
$59
Regular APR
35.99% Variable
4.2
Cardholder rating
Extra perks
Meets needs
Online tools
Customer service
2.7
Bankrate score
Cost of membership
Ease of building credit
APR
Features
Why you'll like this: This card is light on fees and other detriments that can make it difficult to build credit, including no penalty APR.
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-Disclosure: If you are charged interest, the charge will be no less than $1.00. Cash Advance Fee 3 percent, Min: $10
-Avant branded credit products are issued by WebBank, member FDIC
Avant Credit Card Overview
The Avant Credit Card is an unsecured credit card for people with a fair or average credit score or a limited credit history. It offers useful perks like no hidden fees and no deposit required, but it doesn’t offer many other benefits.
On the plus side, the Avant card’s initial credit limit can be a bit higher than a few other unsecured cards for people with less-than-perfect credit. And if you use the card responsibly, you may be able to increase your credit limit over time, which can help you manage your credit utilization ratio. You can also see if you’re preapproved for the card without a hard credit inquiry, allowing you to know your approval odds without negatively impacting your score.
But the card does come with a potentially steep annual fee of up to $99 — depending on your creditworthiness — and a high ongoing interest rate. There are cheaper alternatives if you’re willing to tie up money in a security deposit temporarily. A secured card could give you more control over your credit limit and help you fast-track your credit-building efforts. Some options even offer a rewards program.
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Rewards
- This card does not offer rewards.
Expert Appraisal: Typical
See our expert analysis -
Rates and fees
- Annual fee: $59
- No foreign transaction fees
- 35.99% Variable ongoing APR
- Late fees up to $39
Expert Appraisal: Unimpressive
See our expert analysis -
Credit-building features
- Chance to prequalify and see approval odds
- Reports to the three major credit bureaus
- Proactive credit limit increases
Expert Appraisal: Typical
See our expert analysis -
Other cardholder perks
- Doesn’t require a security deposit
- Avant credit app
- Basic Mastercard benefits
Expert Appraisal: Typical
See our expert analysis
Avant Credit Card pros and cons
Pros
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You can build your credit history with responsible use since it reports to all three major credit bureaus.
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This card does not require a security deposit, saving you money upfront.
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It offers pre-qualification without risk to your credit score, setting it apart from other unsecured cards.
Cons
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This card charges an annual fee that can be higher than alternative cards.
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The potentially low starting credit limit of $300 can make it difficult to maintain a good credit utilization ratio.
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Unlike rival cards with lower costs, this card offers no rewards program.
Why you might want the Avant Credit Card
If you don't qualify for one of the best credit cards for good credit, the Avant Credit Card could be a worthwhile alternative. Since it’s an unsecured credit card for people with fair credit scores, you could use it to continue your credit-building journey while saving on upfront costs.
Credit-building features: Checks the necessary boxes
When building your credit, it’s helpful to use a card that reports your progress every month. Avant reports to all three credit bureaus so you can review your progress with each. It also offers applicants the chance to prequalify with a soft credit pull. A soft credit pull doesn’t affect your credit score, but you could better understand your approval odds. The issuer also conducts proactive credit limit increases, meaning it’ll grant you a higher credit line when you demonstrate consistent positive credit activity, making it much easier to maintain a good credit utilization ratio.
Cardholder perks: Mastercard benefits save the day
The Avant Credit Card gives you access to basic Mastercard benefits like Mastercard ID Theft Protection. This includes $0 fraud liability protection, identity protection and monthly risk alerts. You can also easily manage your credit through Avant’s app. These perks are important backbones on any credit card, and the Avant card delivers.
Why you might want a different credit-building card
While the Avant Credit Card is a good tool for building credit, so are many other cards. You could find similar cards without an annual fee, one of the chief downfalls of the Avant credit card, or ones that offer a rewards program or other incentives that might encourage you to use your credit card more responsibly.
Rewards: Not competitive
While not having a rewards program can help curb overspending, earning rewards is often a top perk on an unsecured credit card. The Avant Credit Card lacks a rewards program, which isn’t great for credit builders hoping to earn on their spending.
Expecting the best rewards rates with a card for fair credit is unrealistic. Still, plenty of cards available for this credit range offer decent rewards. Often, these programs come with incentives that can help motivate responsible credit habits, making them more well-rounded options overall.
Rates and fees: Uncertain annual fee could add unwelcome costs
While you’ll manage to skip some charges with the Avant Credit Card, including a security deposit and overlimit fees, you may still have to pay an annual fee.
This combined with the sky-high ongoing APR for carrying a balance could quickly make the Avant card an expensive choice. Plenty of alternate cards for people with fair credit don’t charge annual fees, including many secured cards. Most secured card issuers will also refund your deposit after you use the card responsibly over time, making a secured card a potentially more cost-effective choice.
How the Avant Credit Card compares to other credit-building cards
Since the Avant card doesn’t offer rewards and charges potentially high fees, it may not be your first choice for a credit-building card. Even though many unsecured cards could be a better fit, you may also want to consider secured cards before applying for the Avant card.
Annual fee
Intro offer
Rewards rate
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
Intro Offer: Unlimited Cashback Match - only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! There's no minimum spending or maximum rewards. Just a dollar-for-dollar match.
Rewards rate
Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Earn unlimited 1% cash back on all other purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
$200 bonus after opening a Rewards Checking Plus account and making 3 debit card transactions*
Rewards rate
Earn 1.5% unlimited cash back on card purchases every time you make a payment.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Who is the Avant Credit Card right for?
Credit builders and those who prefer no security deposit or a foreign transaction fee may find a match with the Avant Credit Card.
Bankrate’s Take — Is the Avant Credit Card worth it?
The Avant Credit Card could make sense if you struggle to qualify for a cheaper, more rewarding credit-building alternative but it won’t be a great fit for everyone who has to build their credit. It comes with a high APR and a $59 annual fee. Plus, this card’s lack of a rewards program could also be a deterrent as multiple secured and unsecured alternatives offer rewards opportunities in addition to their credit-building features.
A secured card will almost certainly be a better deal if you can afford the security deposit, but the Avant Credit Card is a decent starter card if you need an unsecured card and struggle to qualify for better options.
How we rated this card
Our proprietary card rating system takes into account a mix of factors when scoring credit cards for students and people building credit, including each card’s cost, APR, credit-building tools and more.
We analyzed over 50 of the most popular cards designed for students and people with no credit history, bad credit or a fair credit score and scored each based on where its key features stood in relation to others in its category.
Here are some of the key factors that gave this card its score:
Frequently asked questions
What cardholders think
Avant Credit Card
In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder’s product details, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate’s own reviews of these cards.
Community Reviews
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.
