If you're a consumer with mediocre credit and looking for a credit card to help build your credit, the Avant credit card is a great option. This unsecured card does not require security deposits and comes with a credit limit of around $300.
The website has an application form that you can fill out to apply for the Avant Card. The company looks at your finances to see if it's possible for you to get the card. It takes about 60 seconds to complete the application.
One of the best parts about Avant is that you can use your account any time, day or night. You can use a mobile app, a web platform or even autopay to manage your account.
The card also allows you to monitor your account 24/7 so that it is always clear where your money goes and how it's used. 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.
It's easy to get approved for an Avant Card. The company considers your income level, past payment records and other factors when determining if you qualify to receive the credit offer.
The minimum starting credit limit is $300, but it's possible to increase it in six months. The card will then be linked to either your checking or saving account so that automatic payments can be made.
Your credit line can be higher when you make timely repayments and don't exhaust your available balance. Using this extra breathing room will help you keep your debt to credit ratio lower and improve your credit score.
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 can be found on both the card's site and your account dashboard.
The Avant card can be approved even if you have a bad credit rating, although it will take longer. The company will evaluate your account and upgrade your credit limit, which could be as high as $3,000
The only disadvantage of the Avant Credit Card is that there are no sign-up bonuses. The $59 annual fee, however, is low when compared with other unsecured credit building cards.
The company also shares account information with the three credit bureaus. You can use this card to repair or build your credit. But you should only make essential purchases.
You cannot use the Avant credit card for a home or car purchase. An Avant credit card requires a valid identification and proof of your 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.