The Avant credit cards are a great choice for consumers who have mediocre to poor credit. This unsecured card reports to all three major credit bureaus, doesn't require a security deposit and starts with a low credit limit (around $300).
You can apply for an Avant card by visiting their website and filling out the application form. The company looks at your finances to see if it's possible for you to get the card. The application process is super fast, usually taking 60 seconds or less.
Avant gives you the flexibility to use your account anytime, day or evening. You can use a mobile app, a web platform or even autopay to manage your account.
Also, it offers 24/7 monitoring of your card to let you know what's happening with your money. It also doesn't charge foreign transaction fees, so you can shop abroad and make purchases in the currency of that country without paying additional charges.
Getting approved for an Avant card is easy, too. The company examines your income, payment history, and other factors in order to determine if the credit line offered is appropriate.
You can raise your credit limit after six months. You can then link the card to your checking or savings account for automatic payments.
Your credit line can be higher when you make timely repayments and don't exhaust your available balance. Having this breathing room allows you to improve your score by reducing your debt-to credit ratio.
You can also receive a credit limit boost if your account has been open for over a year or you have not used the card in six months. These reviews will appear on both your account dashboard, as well as the website of the card.
You can still be approved for the Avant card with a bad score. However, it may take a little longer. The company will examine your account, and may offer you a credit upgrade of up to $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. Although the $59 fee is not as high as many other credit cards that build credit, it's still a reasonable amount.
The company also shares account information with the 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. For an Avant credit card, you'll need a valid photo ID and proofs of income.
You should always pay your credit card bills on time in order to avoid any interest or other fees. You should also don't carry a balance on your Avant card beyond the credit limit.