He Aven Rewards Visa Card it’s a cash back credit card with high win rates and simple rewards. Earn an impressive 3% cash back on all purchases (up to $10,000 in spending per cardholder year)^, then unlimited 2% cash back thereafter.
For those who are not familiar with Avenis a company that has historically focused on homeowners with its Aven Home Equity Visa, a credit card backed by home equity. The Aven Rewards Visa differs from the Aven Home Equity Visa because it is not backed by a home equity line of credit.
The cash back you earn on the no annual fee The Aven Rewards Visa can be redeemed for statement credits. While the card’s benefits are easy to understand, you can’t convert your rewards into transferable points or earn a welcome bonus, which may leave some wanting more. Card Rating*: ⭐⭐⭐
^3% win rate requires autopay to be enabled.
*Card rating It is based on the opinion of TPG editors and is not influenced by the card issuer.
Aven Rewards Visa: Basics
He Aven Rewards Visa It is a no annual fee card that earns cash back at a fixed rate, which means there is no need to memorize any bonus categories. (Technically, you’ll earn rewards in the form of points, and each point can be redeemed for 1 cent.)
Cardholders earn 3% cash back on all purchases of the first $10,000 spent on each cardholder anniversary. year, then an unlimited 2% refund once that threshold is reached.
The card’s 3% earning rate is pretty impressive (even if it’s restricted to the cardholder’s first $10,000 in spending each year), and the subsequent 2% earning rate is solid among flat-rate cards.
You can use your rewards for statement credits (my recommendation) or for flights or hotels booked through the Aven Travel Portal. These are decent options, but the card can be limiting if you like to earn and redeem transferable rewards like American Express Membership Rewards points or Pursue ultimate rewards needles.
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You must have a minimum FICO score of 680 to be approved and the card is available in most US states, with the following exceptions:
- D.C.
- Hawaii
- Massachusetts
- Mountain
- Snowfall
- New Jersey
- New York
- Vermont
If you’re a homeowner, you have the opportunity to upgrade from the Aven Rewards Visa to the Aven Home Equity Visa, with lines of credit up to $400,000 and rates as low as 7.49%. However, you don’t have to be a homeowner to get the Aven Rewards Visa and get cash back.
Related: How to Choose a Cash Back Credit Card
Pros and cons of Aven Rewards Visa
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Benefits of the Aven Rewards Visa
From the Aven Rewards Visa It is a card with no annual fee, its advantages are minimal. However, there are some benefits to explore.
First, your APR is reduced by 0.25 percentage points when you enroll in autopay within 25 days of opening your account and keep your account enrolled.
Cardholders have access to Protection against Visa fraud chargeswhich monitors your account and sends alerts about transactions considered “suspicious” or declined. You can also lock your card through the Aven app.
Additionally, card charges no foreign transaction feesso if you use the Aven Rewards Visa abroad, you will not be charged extra for these purchases. This is a solid benefit for a card with no annual fee, and since it’s issued by Visa, it’s likely accepted by most merchants both within the US and abroad.
Cardholders can also access their credit score free online and use contactless payment with the physical stainless steel card.
Finally you can add authorized users to your account and you will receive your own Aven Rewards Visa. However, you must add these authorized users during the account application process. You cannot add authorized users after your account has been created.
If you’re looking for more benefits, like travel and purchase protection, you’ll want to look elsewhere – simplicity is the name of the game with this card.
Related: The 13 card benefits that TPG experts like the most
How to Earn and Use Aven Rewards Visa Cash Back
He Aven Rewards Visa actually wins cash back at a fixed rate on all purchases. You’ll earn 3% cash back on the cardholder’s first $10,000 in spending each year, then 2% cash back on all spending after that.
Your rewards can be redeemed as a statement credit to reduce the balance you owe on your card. You can do this in the Aven app by checking the “Rewards” tab.
You can also redeem rewards for booking flights or hotels through the Aven Travel Portal.
If you’re focused on keeping earning and redeeming simple, this is as easy as it gets. However, if you want access to transferable partners, you may find this restrictive.
Related: 6 Common Mistakes to Avoid When Using a Cash Back Credit Card
Where the Aven Rewards Visa falls short
He Aven Rewards Visa It is not the perfect choice for everyone. Here are some reasons why you might want to consider another option:
- Card cash back can only be redeemed for statement credits or travel booked through the issuer’s portal.
- There are no purchase or travel protections.
- You will not be able to earn a welcome bonus.
Related: Cash Back vs. Travel Rewards: How to Choose a Credit Card
Is the Aven Rewards Visa worth it?
The profit rate of 3% on the Aven Rewards Visa It’s eye-catching, and the 2% rate after the $10,000 limit is still attractive. While you can redeem your rewards for statement credits or travel portal purchases, it’s worth noting that you can’t transfer your rewards. But as long as that’s not a deal breaker, there’s plenty of value here for those who want solid cash back on everyday purchases.
Related: How to Maximize Cash Back with Your Credit Card
When to apply for the Aven Rewards Visa
He Aven Rewards Visa does not provide a welcome bonus. This is disappointing given the amount of value in a card. first year value It is often tied to your welcome offer.
Unless the card offers a bonus at some point in the future, the timing of your application won’t affect the value you get from the card. However, if you are interested in applying, wait until you have exhausted your Chase 5/24 spaces could be a good idea.
Related: The 10 easiest credit card welcome bonuses to earn
Other cards to consider if you don’t want the Aven Rewards Visa
He Aven Rewards Visa It may not be the best option for everyone. Here are some other options to consider:
For additional options, see our complete list of best cash back credit cards.
Related: Store Credit Cards vs. Cash Back Credit Cards: Which Should You Get?
In a nutshell
He Aven Rewards Visa He keeps it simple: earn cash back on all your purchases and redeem your rewards for statement credits. You won’t find bonus categories here or even a welcome offer, but getting 3% cash back on your first $10,000 you spend on purchases each cardmember year (then an unlimited 2% afterward) is pretty solid.
Additionally, the Aven Rewards Visa could be an attractive option for homeowners interested in upgrading to the Aven Home Equity Visa, as you could use this card to build a relationship with Aven.
However, for many spenders, another cash back card with a welcome bonus or more benefits may be a better option.
Apply here: Aven Rewards Visa Card
