Aven has launched a credit card. Card is slightly different as it’s linked to your home equity. Card basics:
- No annual fee
- Card earns 3% back on all purchases on up to $100,000 in spend per year, then 2% unlimited cash back (must be enrolled in AutoPay)
- 7.49 – 14.99% Var. APR
- Cash Out (draw to bank account) fee and Balance Transfer fee is 2.5% of amount transferred
Our Verdict
It does say you can check your offer without a credit check so they must be doing a soft pull on your credit and then a hard pull if you go ahead and apply for the product. The 3% cash back is obviously interesting, I suspect you might also be able to get large credit limits as it’s tied to your home equity. This could help boost your FICO score. Could also be useful as a HELOC alternative. Some users are already familiar with Aven due to the $5 weekly gift card offer for those with high credit scores.
Hat tip to reader Tony Q
