Avant Bad Credit Loan Review

Avant Financial Terms In a Glimpse

Avant Highlights

When reviewing any lender, we check for the following features. These are items that can significantly improve the experience of people with bad credit.

Pre-qualify with Soft Credit Pull

Avant uses a soft credit pull so that you can check your loan options and eligibility online without harming your credit score.

High Debt to Income Ratio Allowed

We could not find information on the debt to income ratio you need to qualify for a loan here.

Line of Credit

Borrowers can get a credit card that can be used as a line of credit between $300 and $1,000. These can be used to build back your credit if your score is low. 

Credit Health Tools

The Avant credit card is a health tool you can use to build your credit. You also have access to a regularly updated blog on credit and financial health.

Hardship Programs

Borrowers struggling to make repayment plans have the option of restructuring their loan terms. Specifics will be determined based on each borrower’s details.

No Prepayment Penalty

This lender is explicitly against prepayment penalties and will not penalize early repayment.

Unsecured Loans

Both unsecured personal loans and loans secured by collateral are offered. Generally, unsecured loans require higher credit scores, so people with bad credit may need assets to secure their loans.

Avant Fees

Avant is transparent about its fees, does not have hidden fees or charges, and tacks on an administration fee of up to 4.75% to its loan terms. Additional fees charged include a late fee of $25 and a Dishonored Payment fee of $15 for payments that are returned.

How to Qualify

Getting a loan from Avant requires you to meet its credit score and income criteria. These are not entirely explicit on the company’s website, but checking eligibility is risk-free, as it does not affect your credit score.

The Bottom Line

We think Avant is a good choice for borrowers, especially those who have poor credit. However, the average borrower with Avant has between a 600 and 700 credit score. If you are denied a loan here or just want to check out alternative options, we suggest similarly trustworthy lenders like Upstart or Upgrade, or even NetCredit.