Aven Visa card approved

[Meanmchine]

Not sure if the thread belongs here or in Mortgage section

After doing a few pre qualifications over the last year, finally pulled the trigger and apped for Aven Visa card

Instant approval for $25k. Can you get a CLI later?

For those unfamiliar with this offering, Aven is a HELOC that is tied to a Visa card.  So far, the HP is coded  as a installment loan.  If this is true, does this count as a Chase 5/24 account?

[citymunky]

I looked into the Aven Card before decided on going with a traditional HELOC,but they do offer CLIs but I'll sure it is directly tied to the equity of your property. 

[JoeRockhead]

Nice, congratulations on your approval! 

From what I've read, being it's processed through Visa, Chase will count it towards 5/24.  I guess we'll find out for sure.

[CreditMagic7]

 Congrats on your approval! 

[cashorcharge]

Nicely done!! Congratulations on your Approval!!👏🏼🍾🥂

I would think the CL is tied to your equity so just "asking" for a CLI would require a verification of equity.

As this would be an installment loan, it should not count against your 5/24

[Meanmchine]

I got an email from Aven. This was their reply to my inquiry

" For existing cardholders, Aven offers limited 'invitation-only' credit limit offers. Aven will notify cardholders via email or phone if their account is eligible. At this time, Aven is not accepting credit line increases by request. "

[Meanmchine]

Aven reports FAST

https://ficoforums.myfico.com/t5/Mortgage-Loans/Aven-Visa-card-reports-FAST/td-p/6817722