Aven Credit Card exists, but it's a secured card with strict terms that work for a narrow group of people
Aven is a real credit card issued by Marlette Bank, a South Dakota-chartered bank. It is not a scam. However, it is a secured credit card, which means you must deposit cash upfront as collateral. The card itself is legitimate and reports to the three major credit bureaus — Equifax, Experian, and TransUnion — so it can help you build or rebuild credit history.
The catch is that Aven's terms are restrictive compared to most secured cards on the market. You will pay an annual fee, a monthly maintenance fee, and a relatively high interest rate. The deposit requirements and fee structure mean Aven makes sense only if other secured cards have rejected you or if you have a specific reason to choose it.
This guide walks through what Aven actually is, what it costs, how it compares to alternatives, and whether the card fits your situation.
Key Takeaways
- Aven is a secured credit card issued by Marlette Bank and reports to all three credit bureaus, making it a legitimate tool for building credit history.
- You must deposit between $300 and $2,500 as collateral, and your credit limit equals your deposit amount.
- Aven charges both an annual fee and a monthly maintenance fee, plus interest rates that typically range from 18% to 24% APR depending on creditworthiness.
- Other secured cards like Capital One Secured or Discover Secured offer lower fees and better terms, so compare before committing to Aven.
- Aven reports account activity to credit bureaus, so on-time payments will improve your credit score over time, but the fees eat into any credit-building benefit.
What Aven actually costs you
Aven charges multiple fees that stack up quickly. The annual fee is $75. On top of that, there is a monthly maintenance fee of $4, which amounts to $48 per year. If you carry a balance, you will also pay interest at an APR that varies but typically falls between 18% and 24%, depending on your credit profile at the time of approval.
To open an account, you must make a cash deposit between $300 and $2,500. Your credit limit equals your deposit amount — so if you deposit $500, your limit is $500. The deposit sits in a savings account and earns no interest. You cannot touch it while the account is open.
Let's walk through a real scenario. You deposit $500. Your credit limit is $500. In year one, you pay $75 annual fee plus $48 in monthly maintenance fees, totaling $123 in fees alone. If you carry a $250 balance at 21% APR, you will pay roughly $52.50 in interest that year. Your total cost: $175.50 on a $500 limit. That is a 35% cost just to use the card for one year.
How Aven compares to other secured cards
Capital One Secured and Discover Secured are the two most widely available alternatives. Capital One Secured has no annual fee and no monthly maintenance fee. Discover Secured also has no annual fee. Both report to all three credit bureaus, just as Aven does.
Capital One Secured requires a $200 minimum deposit and charges interest rates in the 19% to 27% APR range. Discover Secured requires a $200 minimum deposit and charges interest rates in the 16% to 24% APR range. Neither charges monthly maintenance fees.
The difference is significant. With Capital One or Discover, you avoid the $48 annual maintenance fee that Aven charges. If you deposit $500 and carry a balance, you save $48 per year just by choosing a competitor. Over two years, that is $96 in savings before interest is even factored in.
| Card | Annual Fee | Monthly Fee | Min Deposit | APR Range |
|---|---|---|---|---|
| Aven | $75 | $4 | $300 | 18%–24% |
| Capital One Secured | $0 | $0 | $200 | 19%–27% |
| Discover Secured | $0 | $0 | $200 | 16%–24% |
When Aven might make sense for you
Aven is worth considering only in specific situations. If you have been rejected by Capital One and Discover — both of which have broader approval policies than most banks — Aven may still approve you. Some people with very recent bankruptcy, very low credit scores, or thin credit files have reported approval with Aven when other secured cards declined them.
If you are in that position, the higher fees are the cost of access. You are paying for the ability to build credit history when other options are closed. In that case, Aven is legitimate and functional, even if expensive.
If you have not yet applied to Capital One or Discover, do that first. Their approval standards are less strict than Aven's, and their fee structures are significantly better. There is no reason to pay Aven's fees if you can get approved elsewhere.
How Aven reports to credit bureaus and what that means
Aven reports your account activity to Equifax, Experian, and TransUnion each month. This means on-time payments will show up on your credit report and contribute to your credit score over time. Late payments will also be reported and will damage your score.
The credit-building benefit is real but modest. A secured card is a tool for demonstrating that you can manage credit responsibly. If you use Aven and pay on time every month, your score will improve — but slowly, usually 50 to 100 points over 6 to 12 months depending on your starting point and other factors on your report.
The fees, however, work against you. Every dollar you pay in annual and monthly fees is a dollar that could have gone toward paying down your balance and reducing interest charges. If your goal is to build credit as cheaply as possible, the lower-fee cards are objectively better for that goal.
Red flags and what they mean
Aven is not a scam, but there are legitimate concerns about the card's value. The monthly maintenance fee is unusual — most secured cards do not charge one. The combination of annual fee, monthly fee, and high interest rate means Aven is one of the most expensive secured cards available.
You may see Aven advertised on websites that target people with poor credit. This is not inherently a red flag — secured cards are designed for people rebuilding credit — but it does mean Aven is counting on people who have limited options. The marketing often emphasizes "may provide approval" or "approval despite bad credit," which is technically true but misleading. Aven does approve more people than mainstream banks, but approval is not may provide, and you will still need to pass basic identity and fraud checks.
The card itself works. Your deposit is safe. Your payments will be reported. But you are paying significantly more than you would with a competitor for the same service.
What happens after you build credit with Aven
Aven's terms do not include an automatic upgrade path. Some secured card issuers — Capital One and Discover among them — will convert your secured account to an unsecured account after 6 to 12 months of on-time payments, return your deposit, and eliminate the annual fee.
Aven does not may provide this. You may be able to request a review after a certain period, but there is no published timeline or criteria. This means you could be paying the $75 annual fee and $48 monthly maintenance fee indefinitely, even as your credit improves.
Before opening an Aven account, contact the bank directly and ask what the path to conversion looks like. If they cannot give you a clear answer, that is another reason to choose a competitor with a published upgrade policy.
Frequently Asked Questions
Is Aven a real bank, or is this a scam?
Aven is issued by Marlette Bank, a real South Dakota-chartered bank. The card is not a scam. Your deposit is held in a real savings account, and your account activity is reported to real credit bureaus. The concern is not legitimacy but value — you are paying more in fees than you would with other secured cards.
Can I get my deposit back?
Yes, your deposit is yours. When you close the account, the bank returns your deposit to you. However, you cannot withdraw it while the account is open. If you need access to that money, a secured card is not the right tool.
What if I miss a payment on Aven?
A missed payment will be reported to the credit bureaus and will damage your credit score. Aven may also charge a late fee. If you miss payments repeatedly, the bank may close your account and apply your deposit to the outstanding balance.
Does Aven have a credit limit increase option?
Aven does not automatically increase your credit limit. Your limit is locked at your deposit amount. To increase your limit, you would need to make an additional deposit. This is standard for secured cards but worth knowing upfront.
How long does it take to build credit with Aven?
Credit score improvement depends on many factors, but most people see modest gains — 50 to 100 points — within 6 to 12 months of on-time payments. The higher fees Aven charges mean your credit-building is more expensive than it would be with a competitor.