Avant Credit Card review: A simple way to build credit
Avant Credit Card overview
The Avant Credit Card does not offer all the thrill and excitement of other rewards credit cards but is intended for those with average credit. As an unsecured credit card, it does not require a deposit and can help build credit with responsible usage.
For those with mediocre credit, the Avant Credit Card offers a competitive starting credit limit compared to other unsecured and secured credit cards. Despite having an annual fee, the Avant Credit Card may make sense if you don't qualify for a higher-tier rewards credit card. Card rating*: ⭐
*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
The Avant Credit Card is designed for those with fair credit who want to establish their credit score and history with positive habits and practices. The appeal of the Avant Credit Card is the ability to prequalify with a soft credit inquiry, informing you of your approval odds and the rates and fees you'd qualify for before applying.
The card can help you build your credit easily as it reports to all three major credit bureaus— TransUnion, Experian and Equifax. Approved applicants for the Avant Credit Card typically have a credit score between 580 and 669.
Applicants who apply now will pay a $39 annual fee and receive an annual percentage rate, or APR, that ranges from 29.24% to 35.99%, based on creditworthiness. Although the card starts off with a $300 credit limit, Avant proactively increases your credit limit based on positive practices.
The Avant Credit Card makes sense if you focus on building your credit rather than earning rewards.
The information for 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.
Avant Credit Card pros and cons
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Avant Credit Card benefits
The Avant Credit Card does not have a welcome offer of any sort. Cardholders are initially approved with a credit limit of $300 and can build their way up to a maximum of $3,000.
A major benefit of the Avant Credit Card is that it reports to all three major credit bureaus. TransUnion, Experian and Equifax have different methods of calculating FICO scores, and banks and issuers pull reports from one of the three bureaus.
In my experience, Chase pulls credit reports from TransUnion, whereas Citi pulls credit reports from Experian, as a couple of examples.
The Avant Credit Card utilizes the Mastercard network, which provides some basic benefits. These include lost-wallet assistance, emergency card replacement, an airport concierge discount and ID theft protection. As a Mastercard, the Avant Credit Card can be used anywhere that accepts Mastercard payments.
Related: What is a secured credit card?
Earning and redeeming rewards on the Avant Credit Card
The Avant Credit Card is designed for those with fair credit as a way to build their credit with responsible practices, and for those rebuilding their credit. Because of this, the card does not earn any rewards based on credit card spending.
This is fairly typical of credit-building cards, but it doesn't help justify the card's annual fee in the slightest.
Which cards compete with the Avant Credit Card?
The Avant Credit Card is unique because it is an unsecured credit card for those with fair credit and does not require a deposit to secure a credit line. If you aren't willing to pay its annual fee, here are three other beginner-level options:
- If you prefer Capital One: The Capital One Quicksilver Secured Credit Card earns 1.5% back on all purchases with no limit. Although this card requires a $200 deposit to secure a credit line, the ability to earn rewards and have no foreign transaction fees is great. To learn more, check out our full review of the Capital One Quicksilver Secured Credit Card.
- If you prefer Discover: The Discover It Secured Credit Card earns 2% cash back at gas stations and restaurants (on up to $1,000 in combined purchases each quarter) and unlimited 1% cash back on all other purchases. Your credit limit is equal to your deposit amount. This card has a great earning structure for a secured credit card.
- If you have a good credit score: The Citi Double Cash® Card (see rates and fees) earns unlimited 2% cash back on all purchases (1% when you buy, 1% when you pay your bill). Its simple earning system is a favorite for those starting off with cash-back cards. This card has no annual fee. To learn more, see our full review of the Citi Double Cash.
For additional options, check out our picks for the best beginner credit cards.
The information for the 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 beginners guide
Is the Avant Credit Card worth it?
For those with fair credit, the Avant Credit Card can be a solid option to help you build your overall credit history, yet its annual fee makes it a poor choice compared to other credit-building cards. This card can't do much for you as your credit score improves due to its maximum credit limit and lack of benefits. Overall, I recommend going with a different choice.
Related: Why I closed my first credit card, and what I'd do differently if I could go back
Bottom line
Whether you're just starting out in the world of credit cards and have fair credit or have had some mishaps in the past that led to a decline in your credit score, the Avant Credit Card can help you fix that. With the ability to prequalify with a soft inquiry and its reporting to all three major credit bureaus, the Avant Credit Card is a safe bet for those looking to improve their financial habits and standing.
That said, make sure you take the time to consider all of your options before settling on this card.
TPG featured card
at Capital One's secure site
Terms & restrictions apply. See rates & fees.
| 5X miles | Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel |
| 2X miles | Earn unlimited 2X miles on every purchase, every day |
Pros
- Stellar welcome offer of 75,000 miles after spending $4,000 on purchases in the first three months from account opening. Plus, a $250 Capital One Travel credit to use in your first cardholder year upon account opening.
- You'll earn 2 miles per dollar on every purchase, which means you won't have to worry about memorizing bonus categories
- Rewards are versatile and can be redeemed for a statement credit or transferred to Capital One’s transfer partners
Cons
- Highest bonus-earning categories only on travel booked via Capital One Travel
- LIMITED-TIME OFFER: Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening - that’s equal to $1,000 in travel
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
- Transfer your miles to your choice of 15+ travel loyalty programs
- Top rated mobile app