I had recently received a 2000.00 line of credit form Avant Credit at a whopping 24.99 % but I was down on my luck and agreed to the terms. They had told me at the time that they would automatically deduct 122.00 a month for the next 24 months. So i would pay 2928.00 for a 2000.00 line of credit. I desperatley wanted to pay this credit off quick to avoid such high fees. I called and spoke to a representative and asked if there were any penalties to pay off early and they told me no. I received this line of credit  toward the end of December and my first payment was due the 17th of January. A week prior to my due date I called in a 500.00 payment. A couple of days later I logged on to check out my statement And I had 376.00 in available credit and had a balance of 1634.00. Today on february 4Th I logged on again and had a balance 1792.00 and available credit of 208.00. the statement showed an interest charge of 37.00 and a monthly service fee of 118.00. I immediately called about this monthly service fee and they told me that the State of Maryland required them to charge a monthly service fee of 118.00. and so my 122.00 monthly minimum payment had went up to 277.00 for 24 months which means i would pay 6648.00 for 2000.00. (WOW). I inquired on how much it would cost me to pay off my whole line of credit? First they sais 1634.00 then they said 1792.00 because of the monthly service charge. I told them that this was a very big mistake and that I would I like to pay the line of credit off. They put me on hold and transfered me to a girl who said I owed the 1792.00 plus the 118.00 monthly service fee for february and the 37.00 interest.  total pay off 1947.00. Ive has this lin of credit  a little over five weeks and I already paid 500.00 plus I paid the 1947.00 to close this account total 2447.00 they also told me my next statement  may have additional interest for the 4 days in February. (possibly a march 118.00 service fee)

I can't believe CREDIT KARMA recommended this predatory lender to me ..

HOW CAN THIS BE LEGAL.

Applied on a Mon. Called Tuesday, told waiting for employment verification- that they called my employer and the call wasn't answered.  My employer is a very large company with multiple switchboard operators and calls are ALWAYS answered.  I told them, and they said they would call again.  Later that afternoon I called again and was told employment was verified and a decision would be made by 5 pm.  Called Wednesday and was told app still being reviewed and would have a decision by 7pm.  Called today (Thursday) and told same thing- yet still no decision.  Strangely, after applying for this loan, I received a call yesterday from a man with a middle eastern accent.  He said he was with US Cash Advance- a known scam company.  Coincidence?  Avant Credit has lied to me for three days- seems like a scam.

I applied last week and much like everyone else i was told i could borrow up to $2800 and i got the gold tier interest rate. I was happy i got approved because i really needed the funding. I called on saturday to make sure everything was ok and to let them know they couldnt verify my employment until the tuesday after labor day because we would be closed. I made sure all of the required documents were sent via online, all of my statements were true and i even went so far as to have an avant credit employee walk me through everything to ensure there would be no problems. I was assured that all they needed to do was check my employment and i would have my money. I called this morning and she told me they had called even though i told them not too until tuesday and that they would try again. 10 minutes after the call i get an email saying i was denied after all the hoops i went through! NO ONE EVER CALLED MY JOB!!!!! They didnt tell me why i wasnt approved and told me to write a letter.... ITS 2013, WHO SENDS LETTERS! I spoke with a manager and several employees but no one could help or tell me anything. Avant is a joke, They waste your time, give you hope and then pull it out from under you. What a stupid idea for a company. Im disgusted and i will be sure that everyone i know hears about this and i will be posting about it in various blogs and social media until people know what a scam this company is! Dont read into these stupid "im so sorry posts" from their company bots trying to clean up their image either because thats fake too! They do not care about you! DO NOT MAKE PEOPLE THINK THEY ARE GETTING A LOAN WHEN THAT IS NOT THE CASE! Now this company has all of my banking information and i have a hit on my credit for nothing! I am not happy! Credit karma is awesome but they should never promote this company they are not legitimate!

I was approved online, submitted my income verification online by providing my online banking info to avant credit. I was approved for the gold tier interest rate and $1,100. Not bad considering. Even got an email stating I was approved and all I needed to do was sign my contract and I would get funds as soon as the next day. I signed the contract, provided the income verification (I'm a teacher and have been at my employer for 5 years). I thought my problem was solved and I had found a lender. I received an email the next day stating my application was denied! I called customer service and they told me the computer makes the decisions and they had no information. I asked if "the computer approves an application then changes its mind"?. I was told "yes that can happen". After all that effort and thinking I had a lender lined up it is now Friday and I'm left in a bind. I need to find a new lender for an unexpected expense that I need to pay for on Tuesday! My advice is stay away from any company that tells you your approved, has you sign a contract then says no wait! The computer changed its mind. Unbelieveable. 

So I applied on The morning of June 14th. Later on that day they sent me an email telling me I needed to fax my paycheck stubs. So I did and they verified they received them. Then they said that had to verify my employer. So I called them 3 days later and they still say the same thing. They tried to say they called my employer and no one picked up. Liars. If I didn't get approved just tell me so I can come up with a plan B instead of getting the run around. I would NEVER recommend them to anyone. I keep waiting for the foreign man to call :) 

Applied for an Avant loan after reading that people with a credit score of 550 got approved, and mine is at a 600. I applied for $3500, and was automatically declined with no explanation as to why.

Would have been nice to at least know, or be offered a counter.

Wouldn't recommend. 

This is a waste of time. Would have been better to get cash advances on current credit cards (a sure thing) than waste an hard inquiry. 

OK…Here is my summarized experience with Avant’s loan process.  I thought the following described experience may provide some useful information for Credit Karma members who are thinking about applying for a loan with Avant. (i.e., Should you risk a “hard inquiry” being reported on your Transunion credit report?)

IMHO

What do I think?…… I would risk a reported “hard-inquiry” and apply for an Avant Loan..…Chances are that if you have reasonably fair-good credit worthiness, Avant will offer a structured loan for your considered acceptance that Avant can approve.….GOOD LUCK!      

My Stats:

Credit Score:  CK - Transunion 700; CK – Vantage 721

The Borrowing Experience

I completed the initial online application with Avant and was instantly informed that I qualified (i.e., pre-approved) for the “Platinum” rate-level and I was simultaneously directed to Avant’s “structure your loan” webpage.  This webpage indicated that I qualified for a loan ranging from $0 to $10,000, with 12 to 24 months payment periods.  After I initially structured my desired loan terms, Avant’s online review then proceeds to a ”preparing the contract” process….after about 10-15 seconds in this process, I was redirected back to the “structure your loan” webpage showing final loan terms that Avant was prepared to offer.

I accepted Avant’s final loan offer, and Avant’s online application review proceeded to the “preparing the contract” process, where upon a written contract was presented for my review/approval/electronic signature (this process includes providing checking account “routing number” and “account number”).

After electronically signing the contract, Avant’s online process directed me to the online “verify income” process.  The “verify income” webpage is interesting.  The borrower is provide with two options to verify income: (1) logging onto your bank’s website while on Avant’s website, or (2) uploading a pdf-copy of either of a recent bank account statement or a recent “pay-stub”.   Because I could not fully understand the “disclosure” statement provided for the “log onto your bank’s website account” option #1 (i.e., I couldn’t understand the implications of logging onto your bank account website while on Avant’s website), I chose to verify my income by uploading a colored scanned pdf-copy of my recent “pay-stub” (this process was easy enough).  Following completion of this process, I received an email from Avant thanking me for my application, instructing me to complete all the above described tasks, and advising me that if all the above described tasks were completed, I should log-on to Avant’s website to check the status of my application.

Approximately 2-3 hours after initialing completing the online application process, I received a call from an Avant representative, for the purposes of “Identity Verification”.  After successfully answering all questions, I was advised that final “employment/income verification” was next (I confirmed Avant’s receipt of my up-loaded pay-stub), followed by final credit review by Avant’s underwriters.

LOAN WAS APPROVED AND FUNDED!

I feel very, very disappointed with this company.
I do understand they need to take every possible safeguard to ensure they get repaid, I am not stupid and get it.

All the people that comes here is people with less than stellar credit and that's it what they say, that they can help people with not perfect credit, otherwise why would be paying 30% or higher for a loan when the banks charge 1/3 of that.

I tried to gather all the facts BEFORE applied, had two chat sessions and explained my particular situation, my FICO averages 670 between the 3 bureaus (although they say that mine is 697, go figure)

Have a steady job, over 6 years with the same major corp, provided pay-stubs and any other info they required.

They ask for me to connect to my bank through their website, which reluctantly accepted.

My bank has multiple security layers, is not just user name + password for log-in, so Avanta's site can't handle it.

Spoke to different CS reps explaining what the problem was for two days, although there was one fairly rude woman all the other CS were fairly nice but regretfuly I can't say the same of the results.

I kept being told that the verification department would contact me and figure how to retrieve the 'missing" info

Of course they never did, and only found out I was rejected after ANOTHER call.

It is hard to understand why they would be stretching the determination for two days, without never reviewing the bank information.

As I said very disappointing and a waste of time.

I know the PR guy will post a rebuttal comment with the same words he uses each and every time without even knowing who the "commenter" is and having no clue why the application was turned down, just using the jargon script.

In any event do not apply if you have high hopes are under time constraints or your credit is not perfect, and yes I know all the BS with the ratios and everything else.

Good luck

A really straightforward process and was very pleased with the service on a whole