Avant 2% cash back card actually a ̶3̶%̶ 2.98% catch-all

[BuckyB]

About a month ago I saw an ad on CK for an Avant 2% cash back card with "outstanding" approval odds so I took it.  Previously, Avant was decent enough to mail me an offer for a standard, no rewards, NAF card a full year before anyone else would (a year before two collections dropped off my CRs) that started out with a $300 limit then was automatically bumped to $500 then was bumped to $750 when I asked.  They wouldn't go above $750 so I closed the card once I started getting better cards from other issuers. Then, a month ago saw the aforementioned CK offer for...

2% cash back rewards Avant card with no annual fee

It's not really a "cash back" card, Avant simply gives you a statement credit for 2% of the statement balance.  Probably pretty easy to do on their back-end rather than run an actual cash-back scheme. I'm a fan of this because I don't have to screw around with it.  No points, no silliness; it's essentially just an automatic 2% discount on everything with no limit.

I was approved for $2000 CL.  Apparently the highest limit Avant offers is $3000.

The interesting thing about Avant is they allow payment with debit cards.  Just dawned on me (I'm a little slow): if I pay the statement with a 1% cash back debit card like Dxxxxxxx or Axxxxxxx CU, that turns Avant into an effective net 3% 2.98% (see correction below) catch-all card, which is pretty great.

Otherwise, I've never had any problems with Avant (knock on wood).  Their app works but is pretty barebones.  My main problem with them is there are no purchase alerts that can be set, neither app-push nor text nor email.  Not through the app nor on their web site.  That might be a dealbreaker for some.  I'm glad I had them set up on my Cap One card because just a few days ago someone apparently cloned the card and tried to use it to make some big purchase.  I got a text message instantly, made the call to Cap One thirty seconds later and they were able to reverse the charge within 5 minutes and ship me out a new card that day.

I'm on vacation now and don't have my 1% debit cards with me so I can't try to pay with one but I don't know why they wouldn't give 1% back on a payment such as this.  I'll try with both when I'm back home.

Otherwise the only issue with Avant is they apparently don't give CLs higher than $3000 for anyone.  Hopefully that will change some day.

[longtimelurker]

Mathematical pedant stuff!   Assuming the debit card works, it's just under 3%

Assume the charge is $100

The statement is therefore $98, which you pay with the debit card earning 98c, therefore that total you pay on $100 charge is $97.02, as compared to $97 on a true 3% card

[BuckyB]

Don't leave us hanging!  What would that be exactly, rounded to the nearest hundredth of a percent?  2.98%? (Lawyers can't do math)

The card can be found by googling "Avant 2% cash back" which should bring up a list of results.  Can't be done through the Avant site BTW.  All their publicly offered cards have an annual fee and are likely not cash back cards.

[Bockrocker]

Pretty cool.  If discover or staples gift cards works it could be a nice find.  You pay with debit directly through their site?

[longtimelurker]

There was a brief discussion of this card earlier:  Avant Cash Back Rewards 2% / Indigo MasterCard - myFICO® Forums - 6669480

[ptatohed]

So, is Avant the only card on the market that allows debit card statement pay?  If not, then this concept would make any credit card that accepts debit card payment a +1% card.  

What's the best 1% debit card to use?

[BuckyB]

Gonna find out, if any!  They might reject the cash back on payments such as this so we'll see.

[IcyCool7227]

BuckyB, What debit cards are paying 1% cashback with paying a credit card that you have? None of the many ones I have offer 1% or more on credit card payments. They consider it to be loan payments which aren't eligible.

[BuckyB]

Mine might too, gotta try and see, will update then.  What debit card(s) have you tried and what credit card(s) did you pay with it/them?

[ptatohed]

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@IcyCool7227 wrote:

BuckyB, What debit cards are paying 1% cashback with paying a credit card that you have? None of the many ones I have offer 1% or more on credit card payments. They consider it to be loan payments which aren't eligible.

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He said he was going to test it and get back to us.