Ava Credit Builder Review - FASTEST, EASIEST Way to Build Credit?

[@harkinsdavid]

The trick is age of credit. If you do use this, You have to be prepared to cancel it down the road. As one climbs the ladder, a $36 annual fee for a zero rewards credit card makes no sense. This plus a one year loan of $300 will show a short age of credit. Not one of the big factors, but a factor none the less. Could be useful if your credit is a mess, but for those starting out, there are more long term options like student cards and secured cards that graduate to regular cards without an annual fee.

[@Adiscretefirm]

They will continue to age as a closed account, and if closed in good standing will drop off at 10 year mark. By that time you should have other accounts to offset the loss of a 10 year old account

[@betochavez1216]

Bro that lil 36 bucks a year could possibly get your credit to where you get can loans 100k and up so a small sacrifice for a big reward seems worth it who cars if I get rewards on my purchase or it if I’m building credit

[@PatrickGowdy-e5t]

My limit is $2500 and I can use $81.50 of it

[@PatrickGowdy-e5t]

My limit is $2500 and I can use $81.50 of it

[@patspats8590]

I agree with others for credit account, once you closed/cancel the subscription, you still get to keep that tradeline for up to 10 years. The only time a credit bureau would remove a tradeline if it's AU (authorized user). This product reports as an actual credit card tradeline.

[@efrainl956]

1. What’s the interest rate on the yearly loan you get from Ava? 2. If the loan renews yearly, Wouldn’t that affect your history? 3. Nine dollars a month? Even six dollars a month seems kind of steep… 🙁

[@ayoftherabbit8808]

Show me a card with a $2500 limit for those with poor credit for less than $9 a month please. If you say secured cards, please incorporate the opportunity cost of parking $2500 into a no interest account (vs earning >$120 a year by just putting it into a bank account).

[@747-pilot]

EXACTLY!! That seems very disingenuous to say "there are no fees". That's just another way of saying a $72 ANNUAL FEE if you pay yearly! And a terrible annual fee, at that. A credit card like Capital One would only charge you something like $29 or $39, and I believe there's a company called Chime where it's FREE!

[@DollarDossier]

@@747-pilot that's a warped way of looking at it. you will never receive a $2500 card from any credit card company. the purpose of an Ava card is to decrease your credit utilization by giving you a high credit limit with low spending limit. if you're $1000 in debt and maxed out, a $2500 increase your credit utilization.

[@Surfer041]

Big Ben with another great video. Cheers mate, drinks still on me k If you come to the jersey shore.

[@chrisg8083]

Grow credit 1800 line of credit pays spectrum internet , Ava 2500 credit card pays for amazon prime, Stellar line of credit 800, Sezzle line of credit 450 Pay for online shopping 4 payments biweekly, Boom pay rent payment they report to all 3

[@betochavez1216]

Anymore high limit credit ones ? Like Ava or grow

[@Morfiez]

⁠@@betochavez1216there is kikoff that i just got

[@patspats8590]

Kikoff reports $750 credit line for 5 dollars or $2500 for 20 dollars. Ava finance is cheaper for higher credit line.

[@chrisg8083]

@@patspats8590 yup, I had it and close them

[@Radyradrad]

The 2500 dollars is to show on your credit report, that means the more revolving credit you have on your report the higher your credit will get, let’s say you have 100k revolving credits and your paying 300 dollars a month, that can raise your score to 100 points equaling a higher credit score meaning if your in the 600 700 range you can possibly take out a 10k credit limit then you can start ditching these installment accounts little by little.

[@patspats8590]

Yes, credit accounts you mean? Installment is a different tradeline. Ava finance is a revolving credit account.

[@76133rconner]

I had my son at a 730 by 18

[@Binhavinnn7618]

Thats not hard to do with no bills or responsibilities so great job

[@blacy5001]

That's dope man. You're sounding like a hater. Lol. Just wanted to say that that is not easy if you have not gotten the resources to learn from. But we are all sure that your kids are at 6 and above by 18 also.

[@cupcak3ninja209]

@@Binhavinnn7618 wrong…. With no credit they won’t be able to do anything… I think more parents should open accounts like this for their kids so by time they are old enough they don’t have to struggle for no reason.

[@cupcak3ninja209]

That’s great! Great parent

[@lencherngree8406]

Me too on a tuesday

[@MRMB1972]

I just joined!!! but missed out on your 20% :(

[@Insuranceexamprep]

The Ava card will save my life indeed baby!

[@PhillipDrumz]

Do they report both the Ava card payments and the savings acct loan as TWO separate trade lines?

[@belhumeur84]

N00b question: If I have a negative mark on my credit (which I can’t yet remove), is it a good idea to create more positive accounts, such as these, to drown it out, in the hopes that most of the 35% is taken up by positive accounts, or does it not work that way?

[@ArtVandelay2005]

Yes it almost always helps. Positive accounts help but don’t entirely eliminate the negative impact of the remarks.

[@belhumeur84]

@@ArtVandelay2005 Excellent. Thanks for that.

[@Snakeyes11123]

Yes, the more positive marks the better. I filed for chapter 7 several years ago, it’s still on there. But with responsible credit card use and virulent credit, my credits back up to where it was pre bankruptcy. The more on tone payments the better. Negative stuff falls off, it takes years, but if you keep everything current, once the negative marks fall off, credit will improve

[@Vegangod89]

Hello. I’m still learning about credit utilization. If my limit is $2500 with Ava, and I spend $25 that’s only 1% as you stated. But if it’s a recurring charge for $25 a month , does that increase my utilization. For example if I did it for 7 months for $25 each month, totaling $175 , wouldn’t that be 7% utilization ? Or would paying off my balance completely per month take the utilization down ?

[@Insuranceexamprep]

No

[@melanieblue2]

*by the app

[@76133rconner]

It will take a payment every Month. So you will never go over your $25

[@ZsaZsaRodeo]

YES IM TOTALLY LOSS

[@ZsaZsaRodeo]

CAN U USE IT FOR GAS?

[@Behr333APTTMH]

If you broke just say that

[@Ros_always7]

I'm signing up they're asking for at least 1,000 in direct deposit why is that?

[@jenniferlego4221]

The content here is very informative! I have a request. Can you PLEASE break down WHAT purchases are included and excluded to qualify for the Chase welcome bonus points????? The site is pretty vague. I need to know my spending will justify the application. (Home and auto repairs, medical bills, etc). Thanks! 🎉

[@DrCassie-Psy]

Seems like Ava works similar to Self lender or self

[@b.younger8939]

Curious as to why Ava would not work for people with scores over 700?

[@TheCreditShifu]

People over 700 got there by already having credit cards and credit products, thus those things are already having an effect on their score, Ava would still have some effect, but small compared to the accounts they have affecting their score already. It's not just Ava, but the same with any credit builder like Self Lender etc, or new credit cards you get, once your score is high the effect is less

[@b.younger8939]

@@TheCreditShifu Thank you! What are some things people who have a 700 score can do to get closer to an 800?

[@patspats8590]

​@@b.younger8939age and time. having all types of tradelines as credit mix. Getting a mortgage or have prior history of mortgage would put you over 800 credit score.

[@zMurdaaa]

Lmaooooo, they charge $72 up front and give you a $25 limit 😂 TRIPPIN

[@chasecutshair]

I had no charge

[@ninodaghost]

Wym

[@GankTown]

@@ninodaghost it’s not a credit card its made to sit on your profile as a low utilization line of credit and people who want to max it out don’t understand thats why they have bad credit in the first place

[@Taybaby2000]

You get the utilization..Thats the point....Most ppl will blow up the card If unsecured with yall irresponsible asses...

[@JbPerception]

You’ll pay 72 dollars for a bottle, clothes, a game, spend at a night out but won’t spend it to help you financially is crazy

[@CreepahKillahRSA]

I’m sure they know what they’re doing, but giving you a credit limit and not actually letting you use it seems to be questionable. The credit score you get as a result of those limitations isn’t necessarily representative of how you will handle a normal unsecured card.