Avant Credit Card for Students: Is It Worth It?

If you’re a student looking for a credit card to build your credit history, the Avant Credit Card might be a good option to consider.

Here’s everything you need to know about this card and whether it’s worth applying for.

No Security Deposit Required

One of the key benefits of the Avant Credit Card is that it doesn’t require a security deposit, unlike some other cards for students.

This makes it an accessible option for students who may not have enough savings to secure a credit line.

Fair Credit Score Requirement

While most student credit cards require a good credit score, Avant offers a chance for those with fair or limited credit to apply. If you’re just starting to build your credit, this can be a great option. However, note that having a higher score increases your chances of getting approved.

Build Credit History

Using the Avant Credit Card responsibly can help you build your credit history over time. By making on-time payments and keeping your balance low, you can improve your credit score, which will be valuable for future financial needs, such as getting an auto loan or a mortgage.

Annual Fee

The Avant Credit Card does charge an annual fee, which is something to keep in mind. The fee is generally on the higher side for a credit card with no rewards, so it’s important to factor that into your decision. Make sure the benefits of the card outweigh the cost of the annual fee.

Interest Rates and Fees

The Avant Credit Card comes with relatively high interest rates. If you plan on carrying a balance, you’ll want to be aware of the interest charges, as they can add up quickly.

To avoid this, it’s recommended to pay off your balance in full each month.

Limited Rewards Program

Unlike many other student credit cards, the Avant Credit Card does not offer rewards or cashback for your spending.

While this makes the card less attractive for earning perks, it does keep things simple and focuses on helping you build credit.

No Foreign Transaction Fees

For students studying abroad or planning to travel, the Avant Credit Card can be beneficial because it does not charge foreign transaction fees.

This can save you money while making purchases overseas, which is a rare perk for cards with no rewards programs.