The Avant credit cards are a great choice for consumers who have mediocre to poor credit. This card, which is not secured, is reported to three of the major credit bureaus. It does not have a security deposit requirement and it starts off with a very low credit limit.
The application for the Avant card can be made by filling out their online form. The company will look over your finances and determine if you're eligible for the card. The application is quick, taking about 60 seconds.
Avant's best feature is the fact that you can access your account day or night. You can manage your accounts through a mobile or web platform. Autopay is also available.
Also, it offers 24/7 monitoring of your card to let you know what's happening with your money. It doesn't charge fees for foreign transactions, so you can make purchases abroad in the currency of the country that you are shopping from without additional fees.
Acceptance for an Avant card can be easy. Your income, your payment history and many other factors are taken into consideration by the company to determine whether you qualify for a credit line.
The minimum starting credit limit is $300, but it's possible to increase it in six months. The card can be linked to your savings or checking account for automatic payments.
Your credit line may be higher if you make timely payments and don't spend your available balance. This breathing room can help you improve your credit score and keep your debt ratio down.
You can get an increase in your credit line if you don't use the card after six months and if it's been more than one year since you opened your account. These reviews are posted in your account dashboard and on the card website.
It is possible to be approved for an Avant card even with a poor credit score, though it may take longer than other cards. The company will evaluate your account and upgrade your credit limit, which could be as high as $3,000
The only downside to the Avant credit card is that you won't receive sign-up bonuses or welcome offers with this card. The $59 fee per year is still low in comparison to other unsecured credit cards.
Another positive feature is that the company shares your account data with all three credit bureaus. The card can help you to improve your credit score, but only use it on essentials and not expensive items or services.
Unlike secured credit cards, you can't use an Avant credit card to purchase a car or home. You will need a valid ID and proof of income to open an Avant credit card.
As with all credit cards, you should pay your bills on time to avoid interest and other fees. Don't go over the credit limit on your Avant card.