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Avant provides personal loans and credit cards with no hidden fees. Its personal loans range from $2,000 to $35,000, with annual percentage rates (APRs) between 9.95% and 35.99% and term lengths from 12 to 60 months. Many customers receive loan funds the next business day. Avant credit cards have an annual fee of $0 to $59 and a credit limit of up to $2,000.
Pros & Cons
- Flexible loan terms
- Mobile apps for iOS and Android
- Fixed payments
- High administration fees and APRs
Avant is a loan company that specializes in lending to middle-income borrowers. The company offers debt consolidation and personal loans, as well as emergency and renovation loans.
Top Avant Reviews
I had a quick and easy loan process with no hiccups. Yes, the interest rate is high but... The website and customer service is customer friendly and easy to deal with. I would hig...Read full review
I could not believe how fast and easy it was to apply and receive my deposit! Went on the website and I could see all my info and payment dates, auto pay is great and I can change...Read full review
How does Avant work?
Avant offers personal loans based on a customer’s creditworthiness. You can get preapproved within 15 minutes — which gives you an idea of what rates you can get — with no effect on your credit score. Avant’s personal loans range between $2,000 and $35,000 and have terms between 12 and 60 months. You can get your money as quickly as the next business day after approval.
The Avant credit card helps customers build good credit and has no hidden fees. The application process is simple, and customers can see if they qualify without a hard credit inquiry. The card has an annual fee between $0 and $59. As long as you're a responsible borrower, it's a great way to improve your credit history.
Avant loan rates and fees
Avant's APRs fall between 9.95% and 35.99% — the company charges the APR based primarily on your credit score. For those with a lower credit score, Avant loan rates are comparable with what you can find at similar companies.
Loans have an administration fee of up to 4.75%. There is no prepayment penalty if you want to pay your loan off early.
Avant credit cards
Avant designed its credit card to help customers improve their credit history. The company offers credit limits between $300 and $2,000 and a variable APR of 27.99% to 29.99%. Avant's online portal allows for 24/7 payments, and the company is transparent about its costs and fees. Credit cards come with an annual fee up to $59, no foreign transaction fee and a late fee of up to $39. If you're looking to improve your creditworthiness, an Avant credit card may help you build credit scores when used responsibly.
Does Avant check your credit?
Avant does a soft credit inquiry when you apply for preapproval, then a hard credit inquiry in the later stages of the application process.
How long does it take Avant to verify your information?
Avant boasts speedy approval, so the verification process is quick.
Can I get a second loan with Avant?
No, you need to pay your first loan in full before taking out another loan. However, some unsecured loans are eligible for refinancing.
Does Avant hurt your credit?
Checking your loan options only requires a soft credit check, which does not hurt your credit. However, if you choose to continue the application, Avant performs a hard credit inquiry, which can temporarily lower your credit score by a few points.
Is Avant a payday loan?
Avant is not a payday loan. It offers loan terms between 12 months and 60 months.
Does Avant require collateral?
No. Avant offers unsecured personal loans, so it doesn’t require collateral.
Is Avant good?
Avant is a good option for someone whose low credit score affects their ability to borrow from most banks. Responsibly paying down your loans helps improve your credit health. However, those with better credit scores may find lower rates elsewhere. Avant’s transparency makes sure customers understand the terms of their loans.
» MORE: Is Avant legit?
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Other credit card companies have an automated phone payment option where you can call 24/7 to make a payment and never be late. Other companies also answer their telephones when they claim they are there. They also have websites you can log into without trouble. Avant LLC does not. There are only two ways to pay, online or over the telephone to speak with a live person. If they do not answer their phones AND their website doesn't work, oh well, too bad. They charge you a late fee, like they did for my family.
So, the following month, since they have a habit of not picking up their phones and their website doesn't work well, I tried sending out a check, only to find out that they had moved and failed to inform people! They tried telling me I made a mistake, as if I cannot read and write well, which didn't go over very well. I then shared proof that what I said was true.
Instead of using that proof so I could get the late fee reversed, the supervisor, Demario Grant, instead did not tell me that he could do only one late fee reversal request. No, he did not. The call was being recorded, so I have proof. I thought we were processing December's late fee. Instead, he processed January's late fee with December's reason, that they did not answer their phones before Christmas. I cannot prove he did this on purpose, but either way, now I am forced to pay late fees I did not deserve paying.
You might save in other areas with this company, but they limit their pay options on purpose so if the payment fails for reasons beyond your control, they will never, ever, ever, ever, ever, ever.... ever!... forgive the late fee. You can be in a coma for ten months, and they would blame that on you and insist you pay all the late fees.
So, I have had late fees levied on me that should not have been, and I'm being forced to pay them even though it was not my fault. It was theirs. They lag behind ALL of their competitors because they do not have the options that other companies afford you. In the end, don't expect to save a great deal of money with this company. They are worse than everyone else.
I received e-mail from Avant/webank saying I owed them yearly dues amount on credit card I knew nothing about, I never got a card and did not sign up for any card or credit of any kind. They want me to fill out a lot of fraud paperwork, all for some yearly fee & if not paid it goes to collections & a credit score hit for something I never ask for.
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It came to my knowledge that an account was started in my name with this bank whom I have never done business with or had knowledge of until my issues started. I followed instructions given to me by their fraud team and once the investigation concluded I asked for more information regarding how they obtained my information. They responded back with inaccurate information. I followed up an few times after but I never received a response. I am trying to obtain my information which belongs to me so I can prevent this from happening again. Any company that does not prioritize my security should not be in business.
I received notification that I was "pre-approved" for a loan so applied online. It took about 72 hours for an initial notification, which was followed by 3 separate phone calls, each asking for a new piece of information. Why this couldn't all be requested up front remains a mystery. After each call, I waited 48 hours while they "processed" the information. Following the 3rd call I was assured that all necessary documents had been received and I should get notification of funding shortly.
The very next day, however, I received notification that my application had "expired", meaning they took so long to review that the process timed out. I would not need to re-apply and start the process over. On top of this, the customer service I received was not the best. They seemed to have little understanding of the actual loan process or terminology in personal finance. I did give an extra star as their quoted rates were better than others I received, but Avant as a company needs some serious help.
Trying to build my credit, I was referred to Avant by Credit Karma. I was approved for $1500, which I was pleasantly surprised. It was enough to lower my usage, and my credit scored started to climb. After 4 months (my credit jumped almost 80 points), I made minimal purchases and always paid it off each month. They lowered my credit to $300!!! Dinged my credit....but not enough to hurt it too much. I was just approved for a mortgage! I emailed them and inquired about the decreased credit limit and their response was credit score was too low. WHAT?! Stay away....far far away!
This company is a terrible company, they can't get a thing right and always have excuses for why they can't do the job the right way. When asked for a supervisor they can't find one. They hang up on customers and never solve the problem. They keep you on hold for 20 minutes or longer. This credit card company Avant is a loser! Company. As, soon as I pay them off I'm canceling service and burning the card. BEWARE OF THIS COMPANY. The BBB NEEDS TO BE NOTIFIED OF THIS BUSINESS.
I was sick with Covid-19 two months ago, so I was unable to work because I was left with long C-19 symptoms and I also had a Covid-19 Rebound two weeks later. I called them and made them aware of my sickness. I also made my payment to bring this account current, as I was late on my payment for about 5 days because I had no energy even to get to my laptop or to call them. Unfortunately, I was dealing with many other long-term covid issues. I asked them to please waive the late fee due to my condition with no avail. I was able to get support and help from my other Credit Card companies, but not from Avant. Got my waiver request denied, no matter what. I am going to pay this account off as soon as I am able to, and will definitely close this account for good. Heartless, unemphatic, money hungry. Bad company to have a Credit Card with. Do not recommend. Don't apply.
People stay as far away from this company as possible. You have been warned! APR is sub prrime rates. They're basically bottom-dwelling subprime lenders. They tried to issue me a card, I refused, they supposedly cancelled the card and waived the 59.00 fee because for one, I never wanted nor consented to this card. Two, I never physically received nor have I ever possed one of their cards because three, no matter what my credit score is I can certainly do better than your little 1500 line of credit at 30% APR! YOU'RE A JOKE! They reported to the credit bureaus as me having a new line of credit with them... A LIE and did a hard credit credit check after the said it's a soft check... ANOTHER LIE!
Overall, dropped my score something like 30 points! On top of that, they reported to the credit agencies that I owe them 59.00 and get this...lowered my line of credit, which I never had from 1500 to 300 and reported that to the agencies as well! These people are simply trying to mess me up because I did not want their BS credit card! Their tactics are downright low and scumbaggish! People, find another, reputable company to do business with! I filed with the BBB and will be headed over to the AG's office next! YOU HAVE BEEN WARNED!!!
I applied for this card through Credit Karma to help build my credit. I was granted a $2000 limit and used the card two times and paid off my balances right away, again all to help build my credit. I went to make a payment online and found out they had decreased my limit to $300, which will have a heavy impact on my credit score. So a card I chose to help build my credit is now going to have a negative impact on it when they can't even tell me why? They never even notified me and when I called they could not give me an answer as to why? I paid off my balance and closed the card and made a complaint with the BBB. My hope is after seeing all the same reviews the BBB will take some sort of action against them.
This company is unpredictable and messes up your credit. DO NOT get any of their services. I feel I need to warn others the credit card is easy to get and advertised on the Credit Karma app which I thought OK I trust credit Karma so why not. They gave me $1500 limit and I never maxed it out. If I made a purchase I paid it within a week or so. Then after 5 months they DROPPED my credit limit to $300. I called. All I got was a letter in the mail stating my utilization was low and I wasn't carrying a balance. I only get credit cards to build my credit not to max them out so I cancelled it and paid my balance. Because them dropping my credit limit looks shading to other lenders. And because of this I might uninstall credit karma app. Good luck fellow consumers. Just a heads up.
Avant Company Information
- Company Name:
- Year Founded:
- Formerly Named:
- 640 N. La Salle Dr., Suite 535
- Postal Code:
- United States
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