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AvantCredit personal loans review
AvantCredit is no longer accepting new loan applications.
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Important: AvantCredit is no longer accepting new loan applications. However, this information has been kept for historical purposes, and you can compare a range of personal loans here.
How do Avant Credit personal loans compare against the competition?
Table: sorted by representative APR, promoted deals first
Before you take out a personal loan, it’s smart to read up and shop around. You can use the cost estimating tool below to see how much you’ll likely pay for your loan from some popular lenders.
1 - 13 of 13
1 - 2 of 2
With no guarantor
1 - 0 of 0
With a guarantor
1 - 1 of 1
With a guarantor who is a homeowner
1 - 1 of 1
Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Late repayments can cause you serious money problems. See our debt help guides.
What was AvantCredit?
AvantCredit was a direct lender, meaning no hidden brokerage fees. Committed to improving its customers’ credit scores through incentivising early payment, AvantCredit considered itself a no-nonsense lender with a professional approach.
Originally from Chicago, AvantCredit came to the UK in 2015 to bring the standards of high-end banks to the online credit industry.
What is APR?
If you’re comparing any credit-based products, it won’t be long before you come across the Annual Percentage Rate (APR). This figure is designed to provide an annual summary of a loan’s cost. It takes into account both interest and any mandatory charges to be paid (for example, an arrangement fee) over the loan’s duration.All lenders must calculate the APR of their products in the same way and must tell you the APR before you sign an agreement. So for consumers, it can be a handy tool for comparison.
Bear in mind, however, that lenders are only obliged to award this rate to 51% of those who take out the loan – the other 49% could pay more. That’s why it’s often referred to as the representative APR.
Pros
- Loans available from £1,000 up to £25,000
- No charges for early repayments
- Quick loan checker tool won’t affect your credit rating
- Fixed monthly payments
Cons
- Not available if you already have a loan from AvantCredit
- Missing a payment could negatively impact your credit rating
- Set-up fee added to your loan once approved
Our verdict
AvantCredit offered loans of up to £25,000. If approved for a loan, the interest rate offered may not have been as good as originally advertised, but this was down to your own circumstances, such as your credit history and income.
Although there was a set-up fee, no early repayment fee was charged. You can see how AvantCredit compares to its competitors above.
Frequently asked questions
Looking for Avant Credit alternatives?
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
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