Avant
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4.7
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Developer
Avant, LLC
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Category
Finance
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Version
2.3.0
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Android OS
6.0 and up
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Downloads
100K
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Content rating
Everyone
Pro
👍 Avant is a popular online lending platform that provides personal loans and credit cards to consumers. Here are three advantages of using the Avant application:
👍 1. **Fast and Convenient Application Process**: Avant offers a streamlined online application process that allows users to apply for loans quickly and easily. Applicants can complete the application from the comfort of their home, and often receive a decision within minutes. This convenience is particularly beneficial for individuals who need funds urgently.
👍 2. **Flexible Loan Terms**: Avant provides a variety of loan amounts and repayment terms, allowing borrowers to select an option that best fits their financial situation. This flexibility can help ensure that the monthly payments are manageable and align with the borrower's budget.
👍 3. **Credit Building Opportunities**: Avant is often willing to work with individuals who have less-than-perfect credit, providing them with access to credit that they might not be able to obtain elsewhere. Successfully repaying a loan from Avant can help improve a borrower’s credit score over time, making it easier to obtain credit in the future.
👍 These features make Avant a convenient and accessible option for many consumers in need of personal loans or credit card services.
Con
👎 Avant is a financial technology company that provides personal loans, credit cards, and related financial services. While many users find Avant's services convenient and helpful, there are some common shortcomings that have been noted:
👎 1. **Higher Interest Rates**: Compared to traditional banks or some other online lenders, Avant's interest rates on personal loans and credit cards can be relatively high. This might not be the best option for borrowers with excellent credit who can qualify for lower rates elsewhere.
👎 2. **Origination Fees**: Avant charges an origination fee on its personal loans, which can be up to 4.75% of the loan amount. This fee is deducted from the loan disbursement, which means borrowers receive less money than they applied for. This is an added cost that some competitors might not charge.
👎 3. **Limited Availability**: Avant’s services are not available in all states, restricting access for some potential borrowers. Additionally, its lending services typically cater to those with fair to good credit, which might exclude individuals with excellent credit or those looking for higher loan amounts and more competitive terms.
👎 These shortcomings should be weighed against the benefits Avant offers, and users should consider shopping around to find the best financial product for their needs.
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