The Avant Card Is Designed for People Rebuilding Credit
The Avant Credit Card is a secured credit card issued by Avant, a financial technology company. You put down a cash deposit, and that deposit becomes your credit limit. The card reports to all three major credit bureaus — Equifax, Experian, and TransUnion — so your payment history builds a credit record that lenders can see.
Unlike some secured cards, the Avant Card does not charge an annual fee. You will pay interest on any balance you carry, and the APR varies depending on your creditworthiness at the time you open the account. The card comes with a mobile app where you can track spending and set up automatic payments.
The main reason people choose this card is that it reports to all three bureaus and has no annual fee. The main reason they leave is that the APR can be high, and the deposit requirement means you need cash upfront.
Key Takeaways
- You deposit cash as collateral, and that amount becomes your spending limit — typically between $300 and $2,500.
- The card charges no annual fee, but the APR starts high and depends on your credit profile at the time you open the account.
- Avant reports your payment activity to all three credit bureaus, so on-time payments help rebuild your credit score over time.
- You can request to convert the card to an unsecured card after you demonstrate responsible use, though there is no set timeline for this.
- The card offers no rewards, cash back, or sign-up bonuses — it is built for credit building, not spending benefits.
How the Deposit and Credit Limit Work
When you open an Avant Card account, you choose how much to deposit. Avant accepts deposits ranging from $300 to $2,500. That deposit sits in a savings account and becomes your credit limit. If you deposit $500, you can spend up to $500 on the card.
Your deposit earns a small amount of interest while it is held. You do not lose access to the money — it is yours, and Avant holds it as security in case you do not pay your bill. If you close the account in good standing, Avant returns the full deposit to you.
The deposit does not count toward your payment. If you charge $200 and your deposit is $500, you still owe the $200. The deposit stays separate and untouched unless you stop paying.
Interest Rates and Fees You Will Actually Pay
The Avant Card has no annual fee, which sets it apart from many other secured cards. However, you will pay interest if you carry a balance from month to month.
The APR varies. Avant does not publish a single rate — instead, the rate you receive depends on your credit history, income, and other factors Avant evaluates during underwriting. Cardholders report APRs ranging from the mid-20s to the low 30s, though your actual rate may differ. You will see your specific APR in your account agreement before you set up the card.
If you pay your full statement balance by the due date each month, you pay no interest. This is the most cost-effective way to use the card while rebuilding credit.
How This Card Reports to Credit Bureaus
The Avant Card reports to Equifax, Experian, and TransUnion. This means every payment you make — on time or late — shows up on your credit report at all three bureaus. On-time payments help your payment history, which is the largest factor in most credit scores.
Avant typically reports account activity monthly. You should see the account appear on your credit report within one to two billing cycles after you open it. From that point forward, each month's payment status gets reported.
Late payments also report to all three bureaus and will hurt your score. Even one late payment can set back credit-building progress, so setting up automatic payments is worth the effort.
When You Might Move to an Unsecured Card
Avant does not publish a specific timeline for converting your secured card to an unsecured card. Some cardholders report being offered conversion after 6 to 12 months of on-time payments, while others have waited longer. There is no may provide of conversion.
If Avant does offer to convert your account, the process is usually straightforward — you accept the offer through your mobile app or online portal, and the card type changes. Your deposit is returned to you at that point. However, you should not count on conversion happening. Treat the secured card as a tool for building credit, not as a stepping stone with a may provide timeline.
If you want to move to an unsecured card sooner, you can always close the Avant account and open a different card once your credit score improves. Your credit history with Avant will remain on your report and continue to help your score.
Comparing Avant to Other Secured Cards
The Avant Card competes with other secured cards like the Capital One Secured Mastercard, the Discover Secured Card, and the OpenSky Secured Visa. Here is how they stack up on the features that matter most:
| Card | Annual Fee | Deposit Range | Reports to All 3 Bureaus | APR Range (Typical) |
|---|---|---|---|---|
| Avant Card | None | $300–$2,500 | Yes | Mid-20s to low 30s |
| Capital One Secured | $0 | $200–$2,500 | Yes | Mid-20s to low 30s |
| Discover Secured | $0 | $200–$2,500 | Yes | Mid-20s to low 30s |
| OpenSky Secured | $35 | $200–$20,000 | Yes | Mid-20s to low 30s |
The Avant Card's main advantage is that it has no annual fee and no credit check requirement — Avant uses alternative data to evaluate applicants. The main disadvantage is that the APR tends to be on the higher end compared to Capital One or Discover, both of which are larger, more established issuers.
If you have a very thin credit file or recent negative marks, Avant may be easier to open than Capital One or Discover. If you already have some credit history, Capital One or Discover might offer a lower APR. Compare your actual offers before deciding.
What Happens If You Miss a Payment
If you miss a payment on the Avant Card, the late payment reports to all three credit bureaus. A 30-day late payment will damage your credit score and stay on your report for seven years. A 60-day or 90-day late payment causes even more damage.
Avant may also charge a late fee, typically $25 to $35 depending on your account agreement. If you continue to miss payments, Avant can freeze your account and pursue collection action.
If you are struggling to pay, contact Avant before the payment is due. Some cardholders have reported that Avant will work with you on a payment plan or temporary hardship arrangement, though this is not may provide. The key is to reach out early, not after you have already missed a payment.
Frequently Asked Questions
Do I need good credit to open an Avant Card?
No. Avant does not require a credit check and does not use your credit score to decide whether to open an account. Instead, Avant looks at income, employment history, and bank account activity. People with no credit history, poor credit, or recent negative marks can open this card.
Can I use the Avant Card to make purchases right away?
Yes. Once your account is open and funded, you can use the card when ready. You do not have to wait for a physical card to arrive — Avant provides a virtual card number in the app that you can use for online purchases while you wait for the physical card.
What happens to my deposit if I close the account?
If you close the account in good standing — meaning you have no unpaid balance and no recent late payments — Avant returns your full deposit to you. The return typically takes five to seven business days. If you close the account with an outstanding balance, Avant may explore the deposit to what you owe.
Will the Avant Card help my credit score?
On-time payments will help your credit score over time because Avant reports to all three bureaus. However, the improvement is gradual. Most people see a noticeable increase after six to twelve months of consistent, on-time payments. The amount of improvement depends on your starting score and overall credit profile.
Is there a way to increase my credit limit without adding more money?
Avant does not automatically increase credit limits on secured cards. Your limit stays equal to your deposit unless you add more money to the deposit account. Some cardholders have reported that Avant offered a limit increase after demonstrating responsible use, but this is not standard practice.