topic Re: Aven Rewards Visa 3% cash back ongoing review in Credit Cards

Aven Rewards Visa 3% cash back ongoing review

ElvisCaprice — Mon, 25 Aug 2025 00:07:40 GMT

Received my Aven Rewards Visa in 5 business days via Priority Mail. It's made of stainless steel, 16g.

3% cash back on the first $10K, annually, 2% unlimited after, no annual fee, no foreign transaction fee. There is a sign up bonus of $100 but it has to be a referral. Otherwise without a sign up bonus you can go directly to the application at Aven.

The app says that this is a soft pull. No risk for you to apply. But a hard pull is immediate on approval with Experian.

The UI on the website and app are superb. Everything from statements to bill pay to rewards are on here and fluid. There are some hoops on the application and setup. LIke ID photo and personal photo upload. Also they will ask for income and if they can't verify, you may need to prove with requested supporting documents. I was approved with the number I gave, no issues or requests for further proof.

Aven will report this as a secured line of credit even though you won't be using any assets or cash deposits as collateral. It seems that Aven has found a loophole here with simply saying your asset purchases, with their card, is the collateral, per billing cycle (lien released upon payment). Of course this doesn't make sense since most purchases are services, pershiables or bills, for myself. But it seems to work and the credit services accept this as a secured LOC (line of credit), even though it's actually unsecured. I'm thinking this is a good thing, since this will help with a mix of credit on your reports.

Re: Aven Rewards Visa 3% cash back ongoing review

smcj — Sat, 26 Jul 2025 14:25:17 GMT

Question: soft or hard pull (or soft pull followed by "you are approved/preapproved/whatevered for" and then hard pull only if/after you accept)?

Re: Aven Rewards Visa 3% cash back ongoing review

ElvisCaprice — Sat, 26 Jul 2025 15:05:30 GMT

@smcj wrote:
Question: soft or hard pull (or soft pull followed by "you are approved/preapproved/whatevered for" and then hard pull only if/after you accept)?

They didn't give me a chance to accept.. Thus right to hard pull on being approved. But maybe I clicked on something in haste?

Re: Aven Rewards Visa 3% cash back ongoing review

smcj — Sat, 26 Jul 2025 16:02:13 GMT

@ElvisCaprice wrote:
@smcj wrote:
Question: soft or hard pull (or soft pull followed by "you are approved/preapproved/whatevered for" and then hard pull only if/after you accept)?
They didn't give me a chance to accept.. Thus right to hard pull on being approved. But maybe I clicked on something in haste?

Interesting. Maybe you did -- but maybe not. I found two things at the link where one can check this card out.

In the spot at the *top* of the page where you can enter your data and hit a "go" button, that button says "Apply Now" and there is no language about it being a soft pull, or not affecting your credit score, etc.
At the *bottom* of the page, there is an additional place to enter your data and hit a "go" button. Down there, the button says "Check your offer", and immediately below it is small-type text in boldface that reads:

Qualifying does NOT affect your credit score.
Check in as fast as 2 minutes.

That second bit is clearly soft-pull language.

It would strike me as a bit odd for the top-page and bottom-page submissions to kick off different processes. Aven's page itself is also not internally consistent in at least one other way -- smack in the middle there is some text that refers to the cash back rate as 2% instead of 3% (I know it's actually 3%; Aven presumably borrowed the 2% language from their home equity-backed card page, and then didn't properly proofread and correct). But with all that said, that variance between top and bottom of page is right there.

Curious.

So in my case Aven pulls Experian (they did for the soft-pull HELOC offer) and I'm not wanting to drop a hard inquiry on that report "by mistake." If anyone is daring enough to see for themselves whether the bottom one will do a soft or hard pull to cough up an offer, I'm really curious. Any volunteers out there?

I do know for a fact Aven will do a soft pull to give an offer (separately) for their HELOC product (been there done that), so I would anticipate similar handling... absent your personal report of a hard pull, that is.

Re: Aven Rewards Visa 3% cash back ongoing review

smcj — Sat, 26 Jul 2025 15:29:26 GMT

Another Q: what are their interest rates like? I generally don't carry balances, but sometimes rate bands on a CC product signal issuer assumptions about who they're accepting, what kind of stuff they expect to pull on the cardholder, etc. (lol)

Re: Aven Rewards Visa 3% cash back ongoing review

Oxford77 — Sat, 26 Jul 2025 15:32:39 GMT

I hope this one sticks around a while. I'm waiting for a few inquiries to drop off before I take a chance on this one.

Re: Aven Rewards Visa 3% cash back ongoing review

ElvisCaprice — Sat, 26 Jul 2025 15:34:36 GMT

My given APY was 17.99%

Re: Aven Rewards Visa 3% cash back ongoing review

ptatohed — Sat, 26 Jul 2025 22:49:52 GMT

EC, do you know if you can add an AU to this card?

My only "non-credit card" credit card (upgrade) does not allow AUs. Which was a big bummer for me as, at that time, my citi DC 2% card was my wife's and my daily driver and I had gotten the upgrade 2.2% to replace the DC - but I could not add her.

Re: Aven Rewards Visa 3% cash back ongoing review

ElvisCaprice — Sat, 26 Jul 2025 23:01:40 GMT

@ptatohed wrote:
EC, do you know if you can add an AU to this card?

My only "non-credit card" credit card (upgrade) does not allow AUs. Which was a big bummer for me as, at that time, my citi DC 2% card was my wife's and my daily driver and I had gotten the upgrade 2.2% to replace the DC - but I could not add her.

Good question, that I do not know. AI says you can. I can't find a place in the App. I just fired off an email to them, I'll let you know what they say.

Re: Aven Rewards Visa 3% cash back ongoing review

FicoMike0 — Sun, 27 Jul 2025 02:07:58 GMT

Similar experience. Reports as secured loc. I got 17.99%, $15,000 cl.

Re: Aven Rewards Visa 3% cash back ongoing review

ElvisCaprice — Sun, 27 Jul 2025 03:09:37 GMT

@FicoMike0 what was your experience with the application process? Especially with the sequencing of events leading to the soft pull vs when you got the final approval. Was there a chance to deny the acceptance of the approval and remain with a soft pull? Or did you also go right into a hard pull fully approved as I seem to experience?

Re: Aven Rewards Visa 3% cash back ongoing review

ElvisCaprice — Sun, 27 Jul 2025 22:26:03 GMT

Ran a test charge for $1.19 yesterday. Posted today and rewards given 4 points, rounded me off to the positive side of 3%. Which I could cash out immediately for statement credit (4 cents). Again, this UI on the Aven app and online site are very good.

Re: Aven Rewards Visa 3% cash back ongoing review

DoppelgangerD — Sun, 27 Jul 2025 22:06:39 GMT

@ElvisCaprice

What's the process to get the "referral" sign up bonus?

This card seems like an opportunity, especially since I've missed out on past 3% CB cards, but to be honest it's giving me a weird fraud type feeling.

Mostly from all the odd wording on the website page.

I mean who advertises that you can cancel anytime without fees?... Like you're signing up for some type of subscription service or something.

Anyone know any more specifics about, or have dealt with the bank that backs this card?

(Coastal Community Bank)

Re: Aven Rewards Visa 3% cash back ongoing review

ElvisCaprice — Sun, 27 Jul 2025 22:16:21 GMT

@DoppelgangerD wrote:
What's the process to get the "referral" sign up bonus?

Use a referral code for $100, www qsv.com

@DoppelgangerD wrote:

Anyone know any more specifics about, or have dealt with the bank that backs this card?
(Coastal Community Bank)

Same bank as the Robinhood Gold. Very similiar in structure, but capped and claimed secured.

@DoppelgangerD wrote:

This card seems like an opportunity, especially since I've missed out on past 3% CB cards, but to be honest it's giving me a weird fraud type feeling.
Mostly from all the odd wording on the website page.
I mean who advertises that you can cancel anytime without fees?... Like you signing up for some type of subscription service or something.

Yes, Aven does create confusion with their main business of HELOC loans, CC secured to and this credit card. I think they don't want to push this unsecured CC but rather use it as a vehicle to sell folks on their core business with HELOC. It does draw confusion, thus this thread to help separate this confusion and how this is a great 3%, no FTF general spend credit card.

Re: Aven Rewards Visa 3% cash back ongoing review

smcj — Sun, 27 Jul 2025 22:24:20 GMT

@ElvisCaprice wrote:
I think they don't want to push this unsecured CC but rather use it as a vehicle to sell folks on their core business with HELOC. It does draw confusion, thus this thread to help separate this confusion and how this is a great 3%, no FTF general spend credit card.

Well, I mean, technically, it is a secured CC, just secured by things purchased with the CC, though I still very much want to know about the methodogy of acting upon a security claim on consumed groceries or a consumed drink at Starbuck's... then again, maybe we don't want the answer to that

That said, I agree that it looks like it's not their idea of core business, and is instead their idea of getting HELOC leads/borrowers.

Re: Aven Rewards Visa 3% cash back ongoing review

zerofire — Mon, 28 Jul 2025 09:50:49 GMT

I am fairly certain this version of the card is probably supposed to be for construction/improvement loans. That way they would have interest in the wood, nails, screws, fasteners, etc that are used in doing the improvement. The real issue is that we here at the fico forum are twisting the purpose of the card to our benefit. Aven probably did still want it to function like a HELOC but their wording is a mess since they are so new.

Re: Aven Rewards Visa 3% cash back ongoing review

ElvisCaprice — Mon, 28 Jul 2025 12:23:21 GMT

@zerofire wrote:
I am fairly certain this version of the card is probably supposed to be for construction/improvement loans. That way they would have interest in the wood, nails, screws, fasteners, etc that are used in doing the improvement. The real issue is that we here at the fico forum are twisting the purpose of the card to our benefit. Aven probably did still want it to function like a HELOC but their wording is a mess since they are so new.

Nonsense, there is no mention of anything to do with construction/improvement on the application page, the application itself, or on the website/app for using the card. They do ask if you own a home or property on the application. I answered no and they still approved me. They even encourage inviting friends and family from your contact list to apply.

In fact, I've yet to receive a single solicitation for a HELOC or any other kind of a collateralized secure loan from Aven. There isn't even a mention of HELOC on the website/app for the ongoing credit card account.

Re: Aven Rewards Visa 3% cash back ongoing review

FicoMike0 — Mon, 28 Jul 2025 21:57:25 GMT

@ElvisCaprice

I'm not sure I had a chance to decline, it was pretty rushed, lol!

I used the card at Costco yesterday. They show 3 X points, but not clear how to collect them.

Re: Aven Rewards Visa 3% cash back ongoing review

ElvisCaprice — Tue, 29 Jul 2025 07:56:19 GMT

@FicoMike0 wrote:
@ElvisCaprice
I'm not sure I had a chance to decline, it was pretty rushed, lol!
I used the card at Costco yesterday. They show 3 X points, but not clear how to collect them.

Same experience I had on the application, went right to approval, card on the way.

Collecting on the points is real slick and simple on the site and app. Just go to rewards, and on the page it says cash back with an arrow, click on that, choose your amount to apply for statement credit.

Re: Aven Rewards Visa 3% cash back ongoing review

crystal626 — Tue, 29 Jul 2025 18:50:14 GMT

@zerofire wrote:
I am fairly certain this version of the card is probably supposed to be for construction/improvement loans. That way they would have interest in the wood, nails, screws, fasteners, etc that are used in doing the improvement. The real issue is that we here at the fico forum are twisting the purpose of the card to our benefit. Aven probably did still want it to function like a HELOC but their wording is a mess since they are so new.

This card popped up on the creditcards subreddit as well and someone from Aven was actually in the thread answering questions so they don't seem to mind the attention.