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Credit Card Reviews

Avant Credit Card: A Good Starter Card for Credit Newbies

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If you're just starting out on your credit journey, consider the Avant Credit Card. You don't need a high credit score to get approved, so if you are new to credit or have a "thin" credit file with less than four accounts, the Avant Credit Card could be a good option.

Pros:

  • Fast and easy application process
  • No deposit required
  • No fraud liability for unauthorized charges

Cons:

  • Annual fee
  • High annual percentage rate (APR)
  • No rewards

Experian Review

For consumers with low credit scores or a thin credit file, getting approved for a traditional credit card can be a challenge. Often the only option is a secured credit card, but that requires a deposit (which is typically equal to the card's credit limit), and that doesn't work for everyone. The Avant Credit Card doesn't require high credit scores for approval, and it doesn't require a deposit. It is an unsecured card, meaning it works just like traditional credit cards: You'll get a credit limit, and you can spend up to that limit, making at least minimum required payments every month.

The ongoing APR for the Avant card is 26.24%, which is high, and there is no introductory APR at sign-up. So if you use this card, plan on paying off your entire balance every month to avoid interest charges that could cost you a bundle.

Several states do not currently offer this card: Colorado, Iowa, Vermont, West Virginia, and Wisconsin.

Take This Card Traveling: You Pay No Foreign Transaction Fees

Many cards considered starter cards for people with lower FICO® Scores* charge foreign transaction fees ranging from 1% to 3%. These charges can add up quickly when you travel abroad. The Avant Credit Card charges no foreign transaction fees, so it could be a good choice to take with you on your next trip.

You'll Pay an Annual Fee—but It's Lower Than Most

While some consumers balk at credit cards that charge annual fees, the one for the Avant card is a manageable $29 per year. This is quite a bit lower than other similar credit cards, which sometimes charge up to $99 annually.


Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer or other company, and have not been reviewed, approved or otherwise endorsed by any of these entities. All information, including rates and fees, are accurate as of the date of publication.

*Credit score calculated based on FICO® Score 8 model. Your lender or insurer may use a different FICO® Score than FICO® Score 8, or another type of credit score altogether. Learn more.

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