topic Re: AvantCard? in Credit Card Applications

AvantCard?

Anonymous — Fri, 16 Mar 2018 12:53:35 GMT

So CreditKarma recommended the AvantCard to me. Seemed competitive considering the contents of my wallet. I app'd and got this page that said "Congratulations! You are just a few steps away from receiving your AvantCard."

I was approved for $1,000 SL @ 22.24% APR with a $29 annual fee (far superior to FNCC/Legacy, CreditOne, and other subprimes in my.. "portfolio") so I was super excited! Then it continued to say "In order to issue you a card, we first need you to confirm your email address."

I click "Send Confirmation Email and Continue" and I'm taken to their customer portal. It's pretty much an empty website with a "Questions" section (super basic knowledge base) and a page that shows my application which has been "In Review" for over a day now.

I've called them twice and they just keep saying that it takes time because they need to verify all the details of my application. I've argued the point that I've never had a credit app take over a day to process -- they're typically an instant decision or a decision made over the course of a phone call with the creditor.. Their (annoyingly consistent) answer is that [they] "take time to manually review each and every application and verify all aspects including credit history, current debt, income, and other factors." The more I persist in asking for more information about my application, the more annoyed they seem to get and they just keep repeating that same answer.

Am I being scammed? Is this even a real thing? What's going on here?

Re: AvantCard?

Anonymous — Fri, 16 Mar 2018 13:15:19 GMT

Wow.

Re: AvantCard?

Anonymous — Fri, 16 Mar 2018 14:44:31 GMT

@Anonymouswrote:
Wow.

Now I'm really nervous. "Wow."?

Re: AvantCard?

Shadowfactor — Fri, 16 Mar 2018 14:48:38 GMT

I think the wow was in regards to you actively seeking too much credit. You need to SLOW your roll.

I hate to be mean. But no-one needs to seek this much credit during a rebuild unless you plan on just charging off all these accounts. At this point you are just hampering your chances of a good rebuild.

Re: AvantCard?

Anonymous — Fri, 16 Mar 2018 15:04:20 GMT

I'm not sure why you'd say that. I just took on an Amex and Chase FU, each with a whopping $1k SL. Figured the AvantCard was worth a shot, and when I saw an extra $1k SL, I was thrilled. This puts me at 4.5% utilization with just shy of $19k in total credit lines and an AAoA of 3 years.

Re: AvantCard?

Shadowfactor — Fri, 16 Mar 2018 15:12:03 GMT

Considering I’ve seen the multiple threads you’ve made and read about you getting atleast 6 denials. All within the past 48 hours I assume.
I also counted atleast 6 store cards approvals in 2017.

That’s a lot of accounts for someone with low scores. Credit karma scores don’t matter. That’s 657 isn’t a FICO score.

Getting denied for secured cards with lenders that let you get back in after 5 years post BK. They are clearly seeing something in your reports they don’t like. You also listed severa collections totaling about 8 I think. That’s a lot of risk to lenders and they are clearly not wanting to extend credit.
But you don’t seem to get that, or the advice from several other members saying the same thing.

You will keep getting denials unless you chill out and garden. Prove to those who gave you accounts. You can manage them responsibly. Your scores will improve and you will get the cards you want. But actively seeking so much credit in such a short period of time is doing nothing but hurting your chances of a good rebuild and a good credit report.

Re: AvantCard?

imaximous — Fri, 16 Mar 2018 15:17:31 GMT

I haven't heard of this credit card before, but my gut tells me to stay away from it. If you already have an AmEx and Chase product, I think you should stop applying for any cards that resemble "rebuilder card" and ask for an annual fee. Grow the cards you got and you won't have to ever think about applying for starter cards or any predatory lending banks.
1k may sound like nothing, but with patience and good habits, you should be able to get CLIs several times your SL.
How long have you had Amex and Chase?

Re: AvantCard?

Shadowfactor — Fri, 16 Mar 2018 15:22:56 GMT

OP has had the chase and Amex for about maybe a day based on the other posts he’s made.

Along with 4 other denials from Amex directly after. And two denials from BoA

Re: AvantCard?

imaximous — Fri, 16 Mar 2018 15:31:49 GMT

@Shadowfactorwrote:
OP has had the chase and Amex for about maybe a day based on the other posts he’s made.

Along with 4 other denials from Amex directly after. And two denials from BoA

I obviously missed all that before posting.

OP, I can understand the frustration of not being able to get what you want (been there), but you really need to slow down and allow your TLs to work in your favor, not against you.

Re: AvantCard?

Anonymous — Fri, 16 Mar 2018 15:42:02 GMT

@Shadowfactorwrote:
OP has had the chase and Amex for about maybe a day based on the other posts he’s made.

Along with 4 other denials from Amex directly after. And two denials from BoA

I actually found out the reason for the BoA denial -- part of the stipulations of the offer are that your accounts are in good standing. I've been a BoA customer for.. geez.. 13 years now.. But as a veteran, I get free banking with Chase and have access to great features, so I've just kept my BoA account open for posterity and because some of my clients bank with BoA so it makes it easier to receive payments. I pay myself via direct deposit out of my s-corp and route $350/mo to BoA to keep my account there free and just transfer it out to my Chase via Zelle.. however, last month I ran my payroll a bit early, so I landed two DDs in Feb, and of course BoA being the jerks they are, billed me for my account for March since they didn't see a DD in March.. That put my account negative literally the day before I did this app, and I wasn't aware of it until the rep told me.. So he says my app is on file, and I need to get some time in between me and any "negative account activity".. I'm like.. seriously dude? It's YOUR fee because YOUR system won't acknowledge my direct deposit because it occurred a day early. Anyway, I digress..

What really frustrates me is that I called regular BoA banking customer service and they were happy to acknowledge their mistake and waive the monthly fee. Go figure. I've NEVER overdrafted my account by way of charges I've placed even once in 13 years.

Re: AvantCard?

Anonymous — Fri, 16 Mar 2018 15:47:05 GMT

Enough said from users above...you have an AMEX and Chase, no need for that scam of card. Garden and stop applying, you're just hurting yourself more.

Re: AvantCard?

Anonymous — Fri, 16 Mar 2018 16:08:58 GMT

@Anonymouswrote:
Enough said from users above...you have an AMEX and Chase, no need for that scam of card. Garden and stop applying, you're just hurting yourself more.

So what do I do now? I've already got the application "In Review" -- can I tell them just nevermind?

I thought that getting a few approvals, and thus overall higher total limits, would help me. From the wave of feedback I've received across the board, it seems I'm sprinting in the wrong direction.

BoA encouraged me to reapply once I got the BS account fee situation handled. Should I even bother with it since I have unsecured lines from Chase and Amex now? I am so lost. I went on an app spree at the same time I decided to start posting and asking for help/ guidance / advice.. Bad idea. Now it seems I've led a few people to look down on me for it.

I have no intention of applying for anything else at this point.. I did what I wanted to do. I scored two big name cards, and I'm happy with that for the next year or two.

I really wanted Discover, Amex, and Chase. But I read about the BoA offer that others posted their success stories with here, so I tried that too.

My goal is to weed out all of my subprime garbage cards (Cap One secured, Credit One, FNCC/Legacy, etc.) over the next 2-3 years as the big names age and gain some of their own history. Not sure what the right way to go about that is.. Hope I haven't ruined my reputation here. I really don't know where I'd be without the sage advice I've gained visiting this site the past couple years. I really need the help. I'm great at following directions, but lack the experience and knowledge I've only been able to gain here. I almost regret signing up for an account and posting now. By following the advice I've read on these boards, I've gone from a score of low 400's to mid-600's in these past 3 years. I really am grateful beyond words.

Re: AvantCard?

Shadowfactor — Fri, 16 Mar 2018 16:28:15 GMT

I would just leave this app alone. If they approve it, great if not. No harm done
But I’m not familiar with this card. If it has a high AF with little benefits I would just cancel the app. You said you wanted to move away from predatority cards.

In regards to BoA. They have a recon line. I would suggest calling them after you get the account stuff cleared up. Do not reapply, only recon.

At this point. The only FICO score you have posted is EX at 627. Your scores aren’t good enough to get most prime lender cards. You got two so count your blessings and work on proving to Amex and chase that you are a good customer. Those two banks alone can be extremely generous if you show that you can be a good responsible customer.

Grow those and work on your negatives.

Do not apply for any more credit. You seem to have a lot of tradelines but negative scores. Focus on why your scores are so low instead of trying to add new accounts.

At this point I’m just repeating myself so I’m done.

Re: AvantCard?

Anonymous — Fri, 16 Mar 2018 16:51:56 GMT

+1 above

IMO, i would call and cancel the Avant card. You want the garbage cards out, start now. The account will post on your credit regardless if approved. But would still close it, their fees might be terrible!

Re: AvantCard?

Anonymous — Fri, 16 Mar 2018 16:54:07 GMT

@Shadowfactorwrote:
I would just leave this app alone. If they approve it, great if not. No harm done
But I’m not familiar with this card. If it has a high AF with little benefits I would just cancel the app. You said you wanted to move away from predatority cards.

In regards to BoA. They have a recon line. I would suggest calling them after you get the account stuff cleared up. Do not reapply, only recon.

At this point. The only FICO score you have posted is EX at 627. Your scores aren’t good enough to get most prime lender cards. You got two so count your blessings and work on proving to Amex and chase that you are a good customer. Those two banks alone can be extremely generous if you show that you can be a good responsible customer.

Grow those and work on your negatives.

Do not apply for any more credit. You seem to have a lot of tradelines but negative scores. Focus on why your scores are so low instead of trying to add new accounts.

At this point I’m just repeating myself so I’m done.

Thank you so much. I'm so grateful. I just called the partial secured backdoor # as per your suggestion and they said they do see my account was overdrafted in error and said that I'll have my new Bank Americard (partial secured) in 5-7 days! That makes 3 primes!

If you do mind my asking.. Where should I go to seek guidance as far as weeding out my garbage?

Re: AvantCard?

Shadowfactor — Fri, 16 Mar 2018 17:16:44 GMT

There’s a rebuilding section of this fourm.

I would make one post in it instead of spread out like you have in this section.

Include all your negatives, dates, amounts, whom they are with. As much info as you can but still while protecting your identity so no account numbers etc.

People will give you advice. Try to follow it.

To get you started. I would order your annual credit reports of all 3 credit agencies. Review them and then post based off that info. This also gives you a chance to check for any inaccuracies on your reports and will help you to start attacking the baddies.

Look up Pay for deletion, start sending letters to any collections you can’t removed through disputed based on inaccuracies. So you should ideally start sending letters in 30-45 days. Dispute what you can, let the disputes come back and see where you stand.

Re: AvantCard?

Anonymous — Fri, 16 Mar 2018 17:26:59 GMT

@Shadowfactorwrote:
There’s a rebuilding section of this fourm.

I would make one post in it instead of spread out like you have in this section.

Include all your negatives, dates, amounts, whom they are with. As much info as you can but still while protecting your identity so no account numbers etc.

People will give you advice. Try to follow it.

To get you started. I would order your annual credit reports of all 3 credit agencies. Review them and then post based off that info. This also gives you a chance to check for any inaccuracies on your reports and will help you to start attacking the baddies.

Look up Pay for deletion, start sending letters to any collections you can’t removed through disputed based on inaccuracies. So you should ideally start sending letters in 30-45 days. Dispute what you can, let the disputes come back and see where you stand.

Thank you for that. I will do that. I just posted all my cards in the Credit Cards section in a thread asking for help building a pruning plan. Hopefully I can get some good direction there while I wait for my reports to arrive!

Re: AvantCard?

Anonymous — Fri, 16 Mar 2018 22:05:01 GMT

Isn't the Avant credit card only available to people in Ireland? I seem to recall another thread about this card.