Avant Credit Card review: A simple way to build credit

Avant Credit Card overview

The Avant Credit Card does not offer all the thrill and excitement of other rewards credit cards but is intended for those with average credit. As an unsecured credit card, it does not require a deposit and can help build credit with responsible usage.

For those with mediocre credit, the Avant Credit Card offers a competitive starting credit limit compared to other unsecured and secured credit cards. Despite having an annual fee, the Avant Credit Card may make sense if you don't qualify for a higher-tier rewards credit card. Card rating*: ⭐

*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.

The Avant Credit Card is designed for those with fair credit who want to establish their credit score and history with positive habits and practices. The appeal of the Avant Credit Card is the ability to prequalify with a soft credit inquiry, informing you of your approval odds and the rates and fees you'd qualify for before applying.

The card can help you build your credit easily as it reports to all three major credit bureaus— TransUnion, Experian and Equifax. Approved applicants for the Avant Credit Card typically have a credit score between 580 and 669.

Applicants who apply now will pay a $39 annual fee and receive an annual percentage rate, or APR, that ranges from 29.24% to 35.99%, based on creditworthiness. Although the card starts off with a $300 credit limit, Avant proactively increases your credit limit based on positive practices.

The Avant Credit Card makes sense if you focus on building your credit rather than earning rewards.

The information for the Avant Credit Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Avant Credit Card pros and cons

Avant Credit Card benefits

The Avant Credit Card does not have a welcome offer of any sort. Cardholders are initially approved with a credit limit of $300 and can build their way up to a maximum of $3,000.

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A major benefit of the Avant Credit Card is that it reports to all three major credit bureaus. TransUnion, Experian and Equifax have different methods of calculating FICO scores, and banks and issuers pull reports from one of the three bureaus.

In my experience, Chase pulls credit reports from TransUnion, whereas Citi pulls credit reports from Experian, as a couple of examples.

The Avant Credit Card utilizes the Mastercard network, which provides some basic benefits. These include lost-wallet assistance, emergency card replacement, an airport concierge discount and ID theft protection. As a Mastercard, the Avant Credit Card can be used anywhere that accepts Mastercard payments.

Related: What is a secured credit card?

Earning and redeeming rewards on the Avant Credit Card

The Avant Credit Card is designed for those with fair credit as a way to build their credit with responsible practices, and for those rebuilding their credit. Because of this, the card does not earn any rewards based on credit card spending.

This is fairly typical of credit-building cards, but it doesn't help justify the card's annual fee in the slightest.

Which cards compete with the Avant Credit Card?

The Avant Credit Card is unique because it is an unsecured credit card for those with fair credit and does not require a deposit to secure a credit line. If you aren't willing to pay its annual fee, here are three other beginner-level options:

• If you prefer Capital One: The Capital One Quicksilver Secured Credit Card earns 1.5% back on all purchases with no limit. Although this card requires a $200 deposit to secure a credit line, the ability to earn rewards and have no foreign transaction fees is great (see rates and fees). To learn more, check out our full review of the Capital One Quicksilver Secured Credit Card.
• If you prefer Discover: The Discover It Secured Credit Card earns 2% cash back at gas stations and restaurants (on up to $1,000 in combined purchases each quarter) and unlimited 1% cash back on all other purchases. Your credit limit is equal to your deposit amount. This card has a great earning structure for a secured credit card.
• If you have a good credit score: The Citi Double Cash® Card (see rates and fees) earns unlimited 2% cash back on all purchases (1% when you buy, 1% when you pay your bill). Its simple earning system is a favorite for those starting off with cash-back cards. This card has no annual fee. To learn more, see our full review of the Citi Double Cash.

For additional options, check out our picks for the best beginner credit cards.

The information for the Discover it Secured has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Related: Credit cards 101: A beginners guide

Is the Avant Credit Card worth it?

For those with fair credit, the Avant Credit Card can be a solid option to help you build your overall credit history, yet its annual fee makes it a poor choice compared to other credit-building cards. This card can't do much for you as your credit score improves due to its maximum credit limit and lack of benefits. Overall, I recommend going with a different choice.

Related: Why I closed my first credit card, and what I'd do differently if I could go back

Bottom line

Whether you're just starting out in the world of credit cards and have fair credit or have had some mishaps in the past that led to a decline in your credit score, the Avant Credit Card can help you fix that. With the ability to prequalify with a soft inquiry and its reporting to all three major credit bureaus, the Avant Credit Card is a safe bet for those looking to improve their financial habits and standing.

That said, make sure you take the time to consider all of your options before settling on this card.

Related: TPG's 10 commandments of credit card rewards