What the Avant Credit Card Is
The Avant Credit Card is a credit card issued by Avant, a fintech lender that focuses on people rebuilding credit or working with limited credit history. Unlike some cards that require a deposit upfront, the Avant card is unsecured — you don't put money down to get a credit line. The card reports to all three major credit bureaus (Equifax, Experian, and TransUnion), which means your payment history can help raise your credit score over time if you pay on time.
Avant charges an annual fee, which varies depending on the version of the card you get. The card comes with a rewards program that gives you cash back on purchases, though the rate is modest compared to cards for people with good credit. The main draw for someone with bad credit is that Avant will consider you even if your score is low, and approval decisions can come quickly — sometimes within minutes of explore online.
Key Takeaways
- The Avant card is unsecured, meaning you don't need a cash deposit, but it does charge an annual fee that you should factor into whether the card makes sense for your situation.
- Your payment activity reports to all three credit bureaus, so on-time payments can help rebuild your credit score, but late payments will hurt it.
- The card comes with cash back rewards, but the percentage is lower than cards marketed to people with established credit.
- Avant pulls a hard inquiry on your credit report when you explore, which temporarily lowers your score by a few points, so explore only if you are seriously considering the card.
- The card has no grace period on cash advances, meaning interest starts accruing when ready, so avoid using that feature.
Annual Fees and What They Cost You
Avant offers two versions of the card: a standard version and a premium version. The standard card has an annual fee, and the premium card has a higher annual fee but comes with additional perks like higher cash back rates and other benefits. Both fees are charged once per year, usually on your card anniversary or at the start of your billing cycle.
The annual fee is not waived in the first year, so you will pay it as soon as the card is activated. If you carry a balance or make only small purchases, the annual fee can eat into any rewards you earn. For example, if you earn $50 in cash back but pay a $95 annual fee, you are actually down $45. Before explore, think about whether you plan to use the card regularly enough to make the rewards outweigh the cost.
How the Rewards Program Works
The Avant card gives you cash back on all purchases. The exact rate depends on which version of the card you hold — the standard version offers a lower percentage, while the premium version offers a higher percentage. Cash back is calculated on your total spending each month and typically posts to your account as a statement credit or can be redeemed for cash.
The rewards are straightforward: there are no bonus categories, no rotating categories, and no caps on how much you can earn. You get the same rate on groceries, gas, restaurants, and everything else. This simplicity can be useful if you do not want to track which purchases earn more, but it also means you will earn less cash back than someone with a premium card from a major bank that offers 3% or 5% on specific categories.
Credit Reporting and How It Affects Your Score
Every payment you make on the Avant card is reported to Equifax, Experian, and TransUnion. This is one of the card's main benefits for someone rebuilding credit: the card gives you a way to show lenders that you can pay on time. If you make all your payments by the due date, your credit score should rise gradually over several months.
Late payments are also reported and will hurt your score. A payment 30 days late stays on your report for seven years and causes significant damage. A payment 60 or 90 days late is even worse. If you are considering this card, be honest with yourself about whether you can commit to paying at least the minimum by the due date every month. If you are struggling with cash flow, a credit card — even one designed for rebuilding — may add stress rather than help.
Interest Rates and How They Compare
The Avant card comes with a variable interest rate, which means the rate can change over time based on market conditions and your creditworthiness. Because the card is designed for people with lower credit scores, the interest rate is higher than what someone with good credit would pay — often in the range of 18% to 29% APR, though the exact rate depends on your credit profile and the current market.
If you carry a balance month to month, interest charges will add up quickly. For example, a $1,000 balance at 24% APR costs about $20 in interest the first month, and more each month after that if you only make minimum payments. The best way to use this card is to pay the full balance every month so you never pay interest. If you cannot do that, the card may not be the right tool for your situation.
When the Avant Card Makes Sense
The Avant card works best if you have bad credit, want to rebuild it, and can commit to paying your full balance every month. If you meet those conditions, the annual fee and modest rewards rate are reasonable costs for access to a card that reports to all three bureaus and approves people with lower scores.
The card is less useful if you plan to carry a balance, because the interest rate is high and will cost you far more than the rewards will save you. It is also less useful if you already have another card — even a secured card — that reports to the bureaus, because you do not need to pay another annual fee to rebuild credit. And it is not a good fit if you are in a financial crisis and cannot reliably pay your bills, because adding a credit card payment to your obligations may make things worse.
how the process works and What Happens Next
You can explore for the Avant card online through Avant's website. The process asks for basic information: your name, address, income, employment status, and Social Security number. Avant will pull a hard inquiry on your credit report, which temporarily lowers your score by a few points. This inquiry stays on your report for two years but stops affecting your score after about three months.
If you are approved, the card is usually activated within a few business days, and you can start using it right away. Your first statement will arrive about a month after set up. Make a note of your due date and set a reminder to pay before that date every month. If you are denied, you can reapply after a few months if your credit situation has improved, but each process triggers another hard inquiry, so do not explore multiple times in a short period.
Frequently Asked Questions
Can I get the Avant card with no credit history?
Avant considers people with limited credit history, but having no credit history at all makes approval less likely. If you have no credit file, you might have better luck with a secured card first — one where you deposit cash upfront — because secured cards are easier to get and also report to the bureaus.
What is the credit limit I can expect?
Credit limits for the Avant card typically range from $300 to $1,000 for first-time cardholders, though the exact amount depends on your credit profile and income. Avant may increase your limit over time if you use the card responsibly and pay on time.
Does Avant offer a grace period before interest starts?
Yes, the Avant card has a grace period on regular purchases — usually 21 to 25 days from the end of your billing cycle — so you do not pay interest if you pay your full balance by the due date. However, there is no grace period on cash advances, so interest starts accruing when ready if you use that feature.
What happens if I miss a payment?
A missed payment is reported to the credit bureaus and damages your score. Avant may also charge a late fee. If you miss a payment, contact Avant as soon as possible to bring your account current. The longer the account stays past due, the more harm it does to your credit.
Can I use the Avant card to pay off other debts?
You can use the card to make purchases, but you cannot use it to pay other credit cards or loans directly. However, you could use the card for everyday expenses and redirect cash you would normally spend to paying down other debts, freeing up money in your budget.