Avant credit card: a small line of credit for those with limited credit

The Avant credit card is one of the most basic credit cards. It doesn’t offer a lot of benefits, and it’s designed for those who have fair credit – usually a FICO score between 580 and 669.

Until you can win rewards, welcome bonus or travel benefits with this card you can build credit with responsible use so you can qualify for a higher yielding card later. We always advocate paying your credit card balance in full each month, but it’s especially important with this card, which has a Above average APR at 25.24% variable.

As an alternative, you could go with a secure credit card, which accepts applicants in the same credit bracket and works well for those with a difficult financial history or no credit history. The difference with the Avant credit card is that you don’t have to post a security deposit to maintain your line of credit. You will only have to pay an annual fee of $59 and your credit limit will only be between $300 and $1,000.

If you’re looking to build your credit, don’t mind the annual fee, and don’t want to be responsible for a lot of purchasing power, the Avant credit card might be a good option. Below we will explain how to create credit with this card. If this card isn’t right for you, we’ll offer you other potential adjustments.

In this article

Introductory offerN / A

APR25.24%* variable

Recommended credit Fair credit

Reward rateN / A

Annual fees$59

Intro Purchase APRN / A

Late payment fees Up to $39

Building credit with the Avant credit card

The first step in establishing credit with this card is to open an account. One element of your credit score, though minor, is the number of accounts you have. The most important factor is your activity once the account is opened.

To really help build your score, you’ll want to use this card carefully and fairly frequently. This means making all your payments in full and on time, and not abusing your line of credit. Credit rating agencies count your “credit utilization ratio” – or how much of your credit limit you are using at any given time – towards your credit score. Best practice is to use your credit card for purchases to show responsible use, but keep your usage below 30% of your credit limit.

Since the credit limit of the Avant credit card is so low, this is especially important. If your credit limit is $500, for example, that means you should always strive to keep your balance below $150.

You can see significant impacts on your credit score in as little as a few months. As your credit score improves, you may be able to qualify for better credit cards, such as refund cards or cards for those who have good credit.

Comparable cards

Capital One Platinum Credit Card

If you like the Avant but don’t want to pay an annual fee, you can apply for the Capital One Platinum credit card for similar features.

This card does not offer bonuses or rewards, but you can build your credit with responsible use. You’ll be subject to a variable APR of 26.99% if you don’t pay your balance in full each month, but if you maintain positive usage with this card, Capital One can increase your line of credit in as little as six months. You also won’t have any foreign transaction fees with this card.

Check out our full review on Capital One Platinum Credit Card for more details.

Discover it® Secure credit card

If you don’t mind putting a deposit and want to earn rewards and a welcome bonus, the Discover it®* Secured Credit Card is a great option.

Although there is no annual fee, the security deposit will be your credit limit, so you will have to shell out between $200 and $2,500. But if you have money to spare, it leads to better benefits. You’ll earn 2% cash back at gas stations and restaurants (up to $1,000 in combined purchases each quarter) and 1% on all other purchases. The welcome offer – Cashback Match Unlimited – also matches your cumulative cashback earned, dollar for dollar, at the end of your first year. These rewards make this card one of the best available for people with fair or limited credit.

Check out our full review on Discover it Secure credit card for more details.

Petal® 2 “Cash Back, No Fee” Visa® Credit Card

The Visa Petal 2 credit card, issued by Member FDIC, WebBank, is a great option if you want a traditional credit card — meaning no deposit — that offers rewards to those with limited or fair credit.

You earn 1% cash back on qualifying purchases, and this will increase to 1.5% after 12 on-time monthly payments. You also have the option of earning 2% to 10% cash back at select merchants, and there’s no annual fee. The Petal 2 incorporates some of the best features of all the boards above to make it a complete low maintenance board.

FAQs

What is considered a bad credit score?

According to FICO, anyone with a score below 580 is considered to have bad credit (also sometimes labeled as “bad” credit). There are many reasons why someone would fall below the fair to good credit line. Bankruptcy or unpaid bills that have been cashed are among the most common reasons. Some people are classified as having a below average score after being victims of identity theft.

You can improve your credit by applying for a credit repair card and making regular, on-time payments.

What is considered a fair credit score?

According to Experian, a credit score that hovers between a FICO score of 580 and 669 is considered fair. It is between a bad score, which ranges from 300 to 579, and a good score, which is between 670 and 739. Once you reach the threshold of a good credit score on your credit report, you will have access to more credit card options with better rates and terms.

What are the benefits of a high credit score?

Having strong credit that is in the range of good to exceptional (670 to 850 FICO) has a number of benefits: more favorable rates and terms, higher credit limits, and more perks and benefits. options. You’ll also have an easier time finding a credit card that best suits your needs and preferences.

Our approach to credit card evaluation

We review the cards which are the most in demand and offer the best benefits. We go through the fine print so there are no surprises when you open an account. We find the key factors that make a card stand out and compare them with other top cards. This way, readers can opt for a different card with similar functionality if our choice doesn’t suit them. Our opinions are regularly checked and updated to incorporate new recommendations, as well as to reflect changes in offers and the market.

*All Discover it secure credit card information has been independently collected by CNET and has not been reviewed by the issuer.

Editorial content on this page is based solely on objective, independent assessments by our editors and is not influenced by advertising or partnerships. It was not supplied or commissioned by a third party. However, we may receive compensation when you click on links to products or services offered by our partners.

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