see more from Credit Cards Advertiser Disclosure

The Home Equity Credit Card that Traditional Lenders Don’t Want You to Know About

Clara Stratford

by Clara Stratford

Senior Writer

A man reads the newspaper in his yard.
Getty Images
Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners.

Credit cards have become an integral part of our daily lives. They offer convenience, cashback rewards, and the ability to handle unexpected expenses. But traditional credit cards are an unsecured line of credit, which is a lot riskier to lenders, who make up for some of that risk by slapping on eye-wateringly high interest rates.

To avoid those high-interest rates, some people opt for a much less risky option: they open a secured line of credit. However, qualifying can be time-consuming and costly.

For example, a Home Equity Line of Credit (HELOC) allows homeowners to borrow against the equity of their home at a much lower interest rate. But to get approved for a traditional HELOC, you have to go through a complicated qualification process that can take several weeks. Typically, you could also end up paying thousands of dollars in origination, appraisal and notary fees, including closing costs up to 5% the loan amount.
Both unsecured credit cards and HELOCs are great options, but for homeowners, there’s a brand new option in the credit market that easily takes the cake: a handy rewards card with all the benefits of a secured line of credit, including substantially lower APRs. It only takes minutes to apply and qualify.

The new and improved HELOC is also a low APR rewards card

The Aven Visa® Credit Card is the first card of its kind to offer you a home equity line of credit in the form of a credit card.¹ This cash back rewards card taps into your home equity in exchange for up to 50% lower interest rates compared to traditional credit cards.

Here are some features and benefits that set Aven apart from your other options:

  • 7.99% to 15.49% Variable APR²: Save up to 50% on interest every month.
  • 2% Unlimited Cashback¹: The first HELOC to offer cashback rewards on all your everyday purchases.
  • 7X Points on Hotels and 2X Points on Flights¹: Book stays at the Four Seasons, Ritz Carlton, and more through the Aven Travel Portal.
  • Starting at $0 to Get A Card: No origination, annual, appraisal, notary, or prepayment penalty fees.
  • Access of Up To $250,000: Forget waiting weeks to originate a HELOC. Aven card users can get up to a $250K secure line of credit in minutes.
  • Easy Cash-Outs and Balance Transfers: Utilize your credit line for cash or to consolidate debt with just a minimal 2.5% transfer fee.
  • Flexible Repayment Options: Aven offers both traditional and fixed monthly options.

With the Aven Card, you don’t have to worry about the high interest rates of a traditional credit card, nor the high cost and lengthy process to get approved for a HELOC.
To qualify, you’ll need to own a property and have a FICO score of at least 640. They recommend FICO > 700 to have the best chance to qualify.¹

With Aven, it takes as little as 15 minutes to apply online and get approved for your credit card. To check your offer, follow a few simple steps — this process won’t impact your credit score. From there, confirm your income and schedule a digital signing.

That’s it! The entire process is done 100% online. And you’ll get your new card in the mail within a few days.

Aven boasts a stellar 4.9/5 stars on Trustpilot

When you’re putting your house on the line, trust is paramount. Aven boasts a stellar 4.9/5 stars on Trustpilot, with over 3,000 reviews underlining its reliability and customer satisfaction.

Aven is also backed by the trust of top-tier investors like Square, Affirm, Stripe, and PayPal. And most importantly, it operates under the umbrella of Coastal Community Bank, meaning its FDIC-insured and has the robust security of the Visa network.¹

Take 2 Minutes to Check your preapproved offer for Your Aven Card

If you’re a homeowner looking for lower-interest credit payments with cashback rewards, take 2 minutes to apply and get pre-approved for the Aven card — at zero cost to you.

Disclosures:
¹Other banks have used access/debit cards as a means of withdrawing money from a home equity line, Aven’s card is unique in that the credit card is the primary source of funds and function. It is the first credit card backed by home equity to publicly launch into the market.
The Aven Card is issued by Coastal Community Bank, pursuant to a license from Visa U.S.A., Inc. Aven accounts are made by Coastal Community Bank, Member FDIC. Equal Housing Lender. NMLS #462289 (NMLS Consumer Access Page) For additional information or complaints to Coastal Community Bank, visit www.federalreserveconsumerhelp.gov.
This post was sponsored by Aven. See aven.com/#disclosures for more information.