AvantCard Credit Card

AvantCard Credit Card

AvantCard Credit Card

Apply Online
Fast and easy application process
No Hidden Fees
No deposit required and no penalty APR
Regular APR
25.99% Variable APR
Edited by
Julie Sherrier
Reviewed by
Glen Luke Flanagan
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is this card best for?

If you’re looking for a way to establish a credit history or rebuild your credit, take a look at the AvantCard Credit Card, issued by WebBank. It’s a solid choice for those who want a credit-building card without having to tie up money in a security deposit (though there is an annual fee).

The AvantCard Credit Card reports account and payment activity to all three credit bureaus and is geared toward those with fair/limited/bad/poor credit.

We’ll examine where this card stands out and how you can use it to build great credit — as well as suggesting an alternate credit-building card that doesn’t charge an annual fee.

Card overview

    • Fast and easy application process
    • No deposit required
    • No hidden fees
    • No penalty APR
    • Report to all three major credit bureaus
    • Zero fraud liability for unauthorized charges
    • Avant branded credit products are issued by WebBank, member FDIC
    • Disclosure: If you are charged interest, the charge will be no less than $1.00
    • Late Fee up to $39
  • Credit needed:
    550 700
    Fair/Limited/Bad/Poor
  • Straightforward annual fee
  • Foreign transaction fee: None
  • Check if you prequalify

Intro Purchase APR

N/A

Intro BT APR

N/A

Annual Fee

$39

Regular Purchase APR

25.99% Variable APR

Cash Advance Fee

The greater of $10 or 3% of the amount of the cash advance

Foreign Transaction Fee

None

Balance Transfer Fee

N/A

Pros and cons

Pros

  • Good for rebuilding credit
  • Check if you prequalify
  • Reports to all three credit bureaus

Cons

  • Annual fee
  • High APR
  • Not available everywhere

What we like

  • Good for rebuilding credit

    This credit card is aimed at applicants with fair/limited/bad/poor credit. While some cards for people with less-than-stellar credit hit you with a variety of hidden fees, the AvantCard Credit Card is pretty straightforward. It’s a no-frills card with a low annual fee of $39 and with a credit limit that can range from $300 to $1,000. For those who might have trouble qualifying for other cards, but don’t want to fall into the trap of applying for a subprime credit card that charges a lot of fees, the AvantCard Credit Card could be a lifeline that can help you improve your credit score.

  • Check if you prequalify

    You can check on Avant’s website to see if you’re eligible for the AvantCard Credit Card, and checking your eligibility doesn’t affect your credit score. The website also offers the option of redeeming an offer that you received in the mail.

  • Reports to all three credit bureaus

    This card reports the account and payment activity to the three major credit bureaus — Equifax, Experian and TransUnion — on a monthly basis. So, if you’re practicing responsible credit behavior, the AvantCard Credit Card can help you improve your credit score.

What to look out for

  • Annual fee

    While this card has an annual fee of $39, if you’re working to rebuild your credit, the fee may be worth it. However, there are other cards available geared toward rebuilding credit (such as some secured cards) that have no annual fee, but they do generally require a $200 deposit.

  • High APR

    This card’s interest rate is a very high 25.99% Variable APR. While that’s comparable with other cards for consumers with fair/limited/bad/poor credit, you’ll want to avoid carrying a balance to avoid hefty interest charges on this card.

  • Not available everywhere

    You won’t be able to get the AvantCard Credit Card if you’re a resident of Colorado, Iowa, Vermont, West Virginia or Wisconsin.

Alternate credit-building card

Compare it to the Discover it® Secured Credit Card

For those new to credit who are looking to establish a credit history, or for those who want to rebuild a bad credit profile, one way to do that is to apply for a secured credit card.

Secured cards require a security deposit equal to your desired credit limit — other than that, they function just like normal, unsecured cards. When you close or upgrade the card, you get your deposit back, minus any fees or balance due.

One secured card that’s frequently among our top picks is the Discover it® Secured Credit Card. This card is a great choice because it sets a timeline for when Discover will start reviewing your account to see if you’re eligible to get your deposit back. Plus, cardholders earn cash back, which is unusual among secured cards.

The AvantCard Credit Card does not require a deposit, so if you don’t have $200 available upfront, it might be a better choice. Plus, the Discover it® Secured Credit Card does not charge an annual fee — and the security deposit is refundable when you pay off and close your account or if you graduate to an unsecured card.

If you’re planning to keep your card for a while, which is good for your length of credit history, the Discover it® Secured Credit Card could cost less in the long run. And note that after eight months, Discover begins monthly reviews of your card to see if you’re eligible to upgrade to an unsecured card and get your deposit refunded.

The AvantCard Credit Card doesn’t offer rewards, while the Discover it® Secured Credit Card does. Rewards shouldn’t be your focus when working to establish or repair your credit score, but if you use the card responsibly and always pay it in full, earning cash back is a nice additional benefit.

How to build credit with a credit card

Whether you’re new to credit, working to rebuild your credit or already have a good credit score, here are two things you should always do with your credit card:

  • Pay on time and in full. Paying your credit card on time every month is the most important thing you can do to improve your credit score or keep a good score. And if you pay in full, rather than just make the minimum payment due, you can avoid interest charges.
  • Keep your utilization low. The percentage of your available credit that you use is called your “utilization ratio.” You should always keep it well below 30%. The AvantCard Credit Card offers a credit limit ranging from $300 to $1,000. So, for example, if you get the minimum limit, you shouldn’t spend more than $90 on your credit card each billing cycle. And if you get the maximum limit, you shouldn’t spend more than $300. If you want to request a credit limit increase, you will need to call Avant at 855-752-7012.
  • Make sure your card reports account and payment activity to all three credit bureaus. Some cards aimed at those with low scores may only report to one credit bureau. To get the best results, choose  a card that reports to all three: Equifax, Experian and TransUnion.

Is this card right for you?

If you have fair/limited/bad/poor credit and are looking for a card that can help you improve your credit score, the AvantCard Credit Card can help you do that if you manage the card responsibly.

However, you should keep in mind there’s an annual fee of $39. If you don’t want to pay an annual fee, an alternative to consider would be a secured card, such as the Discover it® Secured Credit Card. But you’ll have to put down a security deposit, which you can get refunded once you pay off and close the card, or if you get to transition to an unsecured card.

Apply Now
on Avant's secure site