The Avant credit card can be a good option for consumers with mediocre or bad 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.
Visit their website and complete the application form. The company examines your finances and decides if you're qualified for the Avant card. The application takes only 60 seconds.
Avant has the advantage of allowing you to log in at any time, whether it is daytime 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 does not charge foreign transaction charges, so that you can shop and pay for purchases in the currency used by the other country without having to pay 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 credit limit can be increased after 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. This extra breathing space will allow you to keep your debt-to-credit ratio low and improve your credit rating.
You may also be eligible for a credit line increase if you haven’t used your card in the last six months or more than a full year. These reviews will appear on both your account dashboard, as well as the website of the card.
Even with a low credit score it is possible to get an Avant card, but the process may take longer. The company will examine your account, and may offer you a credit upgrade of up to $3,000
The only drawback to the Avant card is you will not receive any welcome bonuses or sign-up offers. Although the $59 fee is not as high as many other credit cards that build credit, it's still a reasonable amount.
It is also a positive that all three credit agencies receive your account data. 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. An Avant credit card requires a valid identification and proof of your income.
Like with any other credit card, it is important to pay on time. This helps you avoid charges and interest. Do not carry a balance over your credit limit.