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3. AvantCard review: A solid starter credit card

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1363

reviews

4.4

Rating: 4.4 out of 5.

Editors’ Take: This can be a great starter card that helps you build credit if you don’t mind a small annual fee. Plus, you may receive automatic credit line increases.

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Great for building a credit history

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Annual fee: $39 (you might see different terms on Credit Karma)

The average credit score for members who have matched with this card or similar cards is 588

The average credit limit for members who have matched with this card or similar cards is $1,110

Explore more about this card:

• Pros and cons
• In-depth Editorial review
• Member reviews

Here’s the average credit limit of members who matched their AvantCard or similar cards.

% of members by credit limit range

The average credit limit for members who have matched with this card or similar cards is $1,110, with $300 being the most common.

Here’s the average credit score of members who matched their AvantCard or similar cards.

% of members by credit score range

The average credit score for members who have matched with this card or similar cards is 588, with 572 being the most common. Note this is just one of the deciding factors when it comes to getting approved.

This content is curated by Intuit Credit Karma’s Editorial team using data from members who were approved for this card or similar cards, or who self-matched this card or similar cards. Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse this content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

Member stats

Updated daily

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57.5%

Average credit utilization (or what percent of the card’s credit limit is being used) of members who matched with this card or similar cards.

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47 years

Average age of members who matched this card or similar cards.

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$79,339

Average annual income of members who matched this card or similar cards. Note: Income may be estimated for some members by Credit Karma and may differ from members’ actual incomes.

Pros and cons

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Quick application process

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Chance to see if you qualify without affecting your credit scores

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No penalty APR

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The purchase APR is on the high side

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No rewards

AvantCard review

Updated November 1, 2024

This date may not reflect recent changes in individual terms.

Written by: Aja McClanahan

What you need to know about AvantCard

Let’s get one thing out of the way: AvantCard likely won’t dazzle you with its rewards. You won’t find any points or miles here, but if used carefully, this no-frills, no-thrills credit card may give you a big boost when it comes to building credit. Here are the card’s highlights.

A solid first step in your credit journey

Though AvantCard doesn’t offer much in the way of rewards, it can be a valuable tool on the path to better credit.

Whether you’re just starting to build your credit, or you’ve fallen behind and want to climb back up, your options may be limited. Chances are, you won’t have access to some of the more appealing card offers that come with cash back rewards, travel points or other perks. That’s just the nature of the credit game.

Reports to the three main consumer credit bureaus

Like many other credit cards that cater to first-timers, AvantCard reports your credit card activity to the major consumer credit bureaus: Equifax, Experian and TransUnion. So as long as you pay off your bill on time and don’t rack up more debt than you can manage, you could see a positive impact on your credit health over time.

On-time payments may bring higher credit line

You may be eligible for an automatic credit line increase with AvantCard, according to the website. Even if you don’t necessarily need more credit, a higher credit line can still be a good thing.

One of the high-impact factors that make up your credit scores is your credit card utilization ratio. This refers to how much of your available credit you’re using at any given time.

Most experts recommend keeping your overall credit card utilization below 30%, which generally suggests to creditors that you are maintaining a manageable balance of credit to debt.

If you keep spending and paying off the same amount but see your credit line increase, that translates to lower credit card utilization — not a bad thing when you’re trying to build credit.

See if you qualify with no damage to your credit

Checking to see if you qualify for an AvantCard will result in a soft inquiry on your credit. This is the same type of inquiry that happens when you check your credit scores from Equifax and TransUnion for free on Credit Karma, and it won’t affect your credit scores.

Once you see if you qualify and submit your application, you’ll be able to see the credit line and annual fee you qualify for based on your credit profile.

Though prequalification can be a helpful tool to minimize your risk when applying for a credit card, actually applying for a card typically triggers a hard inquiry. It’s important to understand the difference between hard and soft credit inquiries before applying for any credit card.

What else you should know about AvantCard

Nothing in life is perfect, and AvantCard is no exception. Here are some details you’ll want to be aware of before you apply.

• Potentially high regular purchase APR — You should know that AvantCard is targeted toward individuals who may not have a long or pristine credit history. For this reason, the regular purchase APR, at 35.99%*, is pretty high.
• Annual fee — You’ll want to think about the annual fee of $39 (you might see different terms on Credit Karma) in light of the fact that this card offers no rewards or points-based perks. But if you don’t have other choices because of your credit history or credit health, the card’s modest annual fee could be more of an investment than an inconvenience.

Who this card is good for

AvantCard isn’t a rewards credit card, so don’t treat it like one. Instead, try to think of it as a sort of credit lifeline if you’re just starting (or restarting) a journey toward improving your credit.

AvantCard probably wouldn’t be the best credit card to ever grace your wallet, but it could be a valuable stepping stone to a card with more-favorable terms. With that in mind, keep your balance low to avoid steep interest charges and a high credit utilization ratio.

Not sure this card is right for you? Consider these alternatives.

• Petal® 2 Visa® Credit Card: This card is good for people who have a limited credit history or even none at all.
• Capital One QuicksilverOne Cash Rewards Credit Card: This card is good for people who want to earn rewards but may not have stellar credit.
• Capital One Platinum Secured Credit Card: This card is good for people at the very beginning of their credit-building journey.