Avant Credit Card: Find Better Options for Building Credit Elsewhere

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The Avant Credit Card*, issued by WebBank, is an unsecured credit card for building credit. You can get pre-qualified without a hard inquiry on your credit report and your balances and payments are reported to the three credit bureaus each month. But the card has few other benefits, and its high fees and annual fee make it a middling choice for new credit users. 

At a Glance

  • Unsecured card for credit building
  • Credit limit from $300 to $1,000
  • Prequalification offer
  • $59 annual fee
  • 24.99%-29.99% variable APR

Pros

  • Helps build credit with responsible use

  • Get pre-qualified without a hard credit inquiry

  • No foreign transaction fees

Cons

  • No rewards

  • $59 annual fee

  • Credit limit could be as low as $300

  • High APR

Additional Card Details

The Avant Credit Card is a credit-building card for people looking to build or improve their credit history, so it doesn’t come with many benefits. Instead, you should use this card as a tool to improve your credit score by paying your bill in full and on time each month and spending below your credit limit. Because Avant reports to each of the three credit bureaus monthly, this is the best way to increase your score over time. 

Pro Tip

If your credit is at least “fair,” you’ll want to make sure you compare the Avant Credit Card to other options. Many cards for fair credit offer rewards on your spending and more perks overall.

You can get prequalified, allowing you to evaluate your odds of approval without undergoing a hard credit check — which could temporarily have a negative impact on your credit. The card is also a Mastercard and comes with a few Mastercard benefits, including Mastercard ID Theft Protection and Mastercard Airport Concierge discounts.

Should You Get this Card?

It can be difficult to qualify for a credit card with poor credit or little credit history, so the Avant Credit Card — geared toward cardholders looking to rebuild or establish credit — may be an accessible option, especially if you’re looking for an unsecured credit card.

It’s biggest drawback is the annual fee. While many cards in this category charge comparably high APRs, there are plenty of options without the Avant card’s $59 price tag. 

Some unsecured cards for building credit are not only free to own, but also offer rewards and added benefits — like the Petal 2 “Cash Back, No Fees” Visa® Credit Card. You’ll earn a base 1% cash back on every purchase, which you can increase to up to 1.5% back after 12 on-time monthly payments. There’s no annual fee with this card, and the credit limit starts at $500 (compared to Avant’s $300 minimum). 

If you’re willing to pay an upfront security deposit, there are also good secured credit card options that can help you build credit while enjoying other benefits. The Discover it® Secured Credit Card earns 2% cash back at gas stations and restaurants (up to $1,000 spent each quarter) and 1% back on everything else, for no annual fee. Many secured cards also return your original deposit when you’re ready to upgrade to an unsecured card or close your account in good standing. 

How To Use the Avant Credit Card

If you do choose to apply for an Avant Credit Card, start by using Avant’s prequalification option. This can help you gauge your eligibility before you fill out a full credit card application that requires a hard credit check. 

Once you are approved for the card, practice responsible credit habits that’ll help you build credit and graduate to a card with better terms and benefits. Read your card agreement carefully and make sure you know your credit limit. Then, use your card to make purchases throughout the month that you can afford to pay off when your statement is due, and keep your balance well below your credit limit. 

Since the most important factor that makes up your credit score is your payment history, start building your credit as efficiently as possible by making sure to pay down your balances in full and on time each and every month.

The second most important factor in your FICO score is the amount you owe in relation to your credit limits, or credit utilization ratio. Experts recommend keeping your utilization below 10% (or 30% max) for the best results. This means keeping balances below $100 (or $300 max) if your credit limit is $1,000.

Over time, avoid taking on high-interest debt balances. Not only is this card’s 24.99%-29.99 variable APR high, but revolving debts can have negative credit effects that hold you back from achieving a great score and qualifying for better cards in the future. 

Avant Credit Card Compared to Other Cards

  • Intro bonus:
    N/A
  • Annual fee:
    $0 to $59
  • Regular APR:
    24.99% – 29.99% Variable
  • Recommended credit:
    580-740 (Fair to Good)
  • Learn more externa link icon at our partner’s secure site.
Capital One Platinum Credit Card

Capital One Platinum Credit Card

Editor’s Score: (3.6/5)
  • Intro bonus:
    N/A
  • Annual fee:
    $0
  • Regular APR:
    26.99% (Variable)
  • Recommended credit:
    (No Credit History)
  • Learn more externa link icon at our partner’s secure site.
Petal 2

Petal 2 “Cash Back, No Fees” Visa® Credit Card

Editor’s Score: (4.0/5)
  • Intro bonus:
    N/A
  • Annual fee:
    $0
  • Regular APR:
    12.99% – 26.99% (Variable)
  • Recommended credit:
    (No Credit History)
  • Learn more externa link icon at our partner’s secure site.

Bottom Line

The Avant Credit Card is a decent option for building credit, but there are other credit-building cards that offer better perks and charge no annual fee. Before you apply, compare our favorite credit cards for bad credit and for people with no credit history, to make sure you choose the card that’s best suited for your goals and spending.

If you do decide to apply for the Avant Credit Card, practice good credit habits from the beginning to maximize your results. Pay your bill on time, keep your utilization low and keep building credit until your score is enough to upgrade to a card with better rates and terms.

All information about the Avant Credit Card, Capital One Platinum Credit Card and Petal 2 “Cash Back, No Fees” Visa® Credit Card has been collected independently by NextAdvisor and has not been reviewed by the issuer.

Frequently Asked Questions

What credit score do you need for the Avant Credit Card?

The Avant Credit Card is for people with “fair” credit scores looking to repair or build credit. Generally, you’ll have the best chances of qualifying with a credit score of at least 580.

Does Avant increase your credit limit?

Upon approval, you’ll be given a credit limit that can range from $300 to $1,000, depending on your creditworthiness. Avant says it “may periodically review your account for credit line increases,” but does not specify when those reviews take place.

Is Avant a real credit card?

The Avant Credit Card is an unsecured card on the Mastercard network, which means you can use it anywhere Mastercard is accepted.