Frequently Asked Questions

What is Avant?

Avant is a consumer loan program operating in the United States. AvantCredit offers access to personal loans with a process that is almost entirely online.

We know that getting credit with a traditional bank loan can be extremely difficult and time consuming. We also know that you don't want to resort to a loan with payday high rates. With Avant's quick application and friendly customer service, you could have the credit you need as soon as tomorrow morning!‡

Also, unlike some other loans, you will not have to provide your car or house title, or pay hidden fees.

What loan products does Avant offer?

Avant currently offers access to 2 types of products with availability based on your state of residency.

AvantCredit Personal Loan: A standard consumer installment loan with an Avant twist. Like most bank loans, our personal loans amortize over time with simple, equal monthly payments. Plus, enjoy the benefits of late fee forgiveness, a 100% online process, and the potential to improve your credit rating over time! Loans are made by WebBank and by affiliates of AvantCredit.

AvantCredit Credit Line: Our credit line is like a credit card without the card. After you're approved for a credit line, you can access this credit anytime and anywhere, as long as you are connected to the web. Your credit line is always open for you to draw against whenever a need arises! Additionally, enjoy all of the benefits of an AvantCredit Personal Loan, including late fee forgiveness and the ability to improve your credit rating through consistent, successful repayment.

Check which product is offered in your state now!

How much can I borrow?

At Avant, we get you the best loan offer available for your unique financial situation.

We will look at a variety of factors when determining your eligibility, including your credit score and income. Based on this information, you will be able to select your loan amount up to your approved amount or state limit.

What are the fees?

We know loan fees and APRs can be confusing. At Avant, we are committed to a transparent fee structure that makes it easy for you to understand. For our installment loans, you will pay the interest accrued on your loan, late fees, and dishonored payment fees, if applicable. We do not charge hidden loan fees like application fees, membership fees, or prepayment fees. On our personal credit lines we adhere to the same transparency. You will only be charged interest accrued on your loan, and in Maryland a minimum monthly charge will be issued in addition to interest.

Late fees may apply if a scheduled payment is missed, although amount and time of application of late fee vary by state. Additionally, dishonored payment fees may apply if a scheduled payment is returned unpaid.

Click here to see detailed information on the rates and terms.

How fast will my loan be funded?

We know this loan is important to you, so we work hard to get it to you quickly, most often as soon as the following business day!‡

The exact funding time will depend on your bank.

How can I repay my loan?

At Avant, we believe it's important to offer easy and convenient ways to pay back your loan. We provide an automatic payment option called an Electronic Fund Transfer via ACH so you never have to worry about forgetting a due date again. Using this option, we electronically debit your bank account for the amount you owe on your due date.

Other payment options are available. Call 800-712-5407 to speak with an agent today.

What if I can't make an upcoming payment or I default on my loan?

At Avant, we care about our customers and are always there for them. If you find that you can't make an upcoming payment on your loan, call our friendly Customer Service agents at 800-712-5407. You may be eligible for a courtesy due date adjustment that will give you some extra time before your next payment.

If you have already missed your scheduled payment, call our Payment Planning Team at 800-712-5407. Our payment planning agents are committed to getting you back on track by helping you set up a payment arrangement that fits your budget.

What if I forgot my password?

How do I update my phone, email or home address?

To update your personal information, just follow these simple steps:

  1. Sign into your account
  2. Click on the "My Info" tab, followed by the "Personal Info" tab
  3. Click the "Edit" link for the information you want to update
  4. Enter your new information and save your changes

What is a personal loan?

A personal loan is a loan that is used for personal, family or household purposes. For example, a personal loan can be used to pay for an unexpected household expense or to consolidate consumer debt. Personal loans through AvantCredit are unsecured, which just means that there is no requirement to put down collateral, like an auto title, in order to obtain funding.

Will there be a fee or a balloon payment when I finish paying off my loan?

There are no fees for paying off the loan early and there is no balloon payment at the end of your loan. Loans through AvantCredit.com are fully amortizing, which means that when customers make the payments outlined in their original loan terms, their balance will be $0 after their final payment.

We’re fully transparent with our customers regarding any interest and fees that may impact their account.

Is AvantCredit a payday lender?

AvantCredit does not offer payday loans. We offer access to personal loans from $$1,000 to $35,000* to help cover unexpected costs without the extremely high interest rates from payday loans.

Payday loans tend to be for smaller amounts that individuals borrow for a total of two weeks. Since the full amount needs to be paid back within a short time period, borrowers often tend to refinance the loan multiple times, accruing high interest rates that can range from triple to quadruple digits when converted to an annual percentage rate (APR) basis.

AvantCredit offers access to loans for $1,000-$35,000* to be repaid over the course of 12-60 months**, which makes the monthly payments a lot more affordable for borrowers. See our rates and terms page for more information. Loans are issued by WebBank and by affiliates of AvantCredit.

Is it safe to set up ACH payments or link my bank account to AvantCredit?

AvantCredit follows and adheres to the same standards that apply to the banking industry. In short, if you bank online with a major bank, you’ll experience that same level of security with AvantCredit.

AvantCredit hosts its secure servers with Amazon Web Services, one of the largest ecommerce and cloud computing companies in the world. Amazon brings its expertise in security to the locations where our physical servers are hosted.

We also encrypt all personal, sensitive data such as SSN and date-of-birth.

Is AvantCredit only for people with bad credit?

AvantCredit offers access to a personal loan product that fits a wide variety of customers because each loan is tailored to each person’s individual credit situation and history. Most of our customers have a FICO® Score of 600 to 750.

What is a FICO® score?

"FICO®" is an acronym for the Fair Isaac Corporation, the company that created the FICO score.

A FICO® score is a credit score that is created by applying a mathematical formula to a consumer’s credit report data. The FICO® score aids in assessing a loan application and predicting consumer credit risk.

We use the FICO® 8 provided by TransUnion® in the underwriting process. Credit reporting agencies like TransUnion® use FICO®’s scoring formula to assess information in consumer credit reports and calculate FICO® 8 Scores. Generally, people with higher scores are considered more attractive borrowers than those with lower credit scores, as they typically represent a lower risk of default. There are three national credit reporting bureaus – Experian®, TransUnion®, and Equifax®. Each bureau maintains a credit history record known as your credit report. The information in your credit report may vary from one bureau to another based on whether your lender reports your credit history to one, two or all of the bureaus.

Credit bureaus can use different scoring models and in addition to FICO® there are several other versions and providers of credit scores including but not limited to VantageScore®, NextGen®, BEACON® and EMPIRICA®.

Will my FICO® Score be impacted if I view my rates?

The process to see the rates available to you through AvantCredit does not impact your FICO® Score at all. That’s because we use a soft FICO® Score inquiry. That translates into a quick process that doesn’t affect your FICO® Score. Read more about “hard” versus “soft” credit score inquiries on Credit Karma.

That means that even if customers are declined, an inquiry will not appear on their credit reports after viewing their rates.

What does AvantCredit do with my personal data?

At AvantCredit, we treat your personal data with the utmost care. We also encrypt all personal, sensitive data such as SSN and date-of-birth. All use of your personal information is clearly outlined as a part of AvantCredit’s privacy policy. You can control and limit the ways in which AvantCredit shares your personal information by calling 800-712-5407, chatting with us on AvantCredit.com or emailing the team at support@avantcredit.com with the subject, “privacy settings.” WebBank issues loans through the AvantCredit platform, and WebBank also has a privacy policy.