What the AVB Credit Card Is and Who Offers It
The AVB Credit Card is a credit product issued by Customers Bank, a federally chartered bank based in Pennsylvania. The card is designed for people building or rebuilding credit, and it works like a standard credit card — you make purchases, receive a monthly statement, and pay what you owe. The main difference from a traditional card is that AVB cards are typically secured cards, meaning you put down a cash deposit that becomes your credit limit.
Customers Bank markets the AVB card directly through its website and through some third-party financial websites. The card carries a Visa or Mastercard logo depending on which version you choose, so you can use it anywhere those networks are accepted. Unlike some secured cards, the AVB card does not require you to open a checking account with the bank to hold your deposit.
Key Takeaways
- The AVB card is a secured credit card where your deposit becomes your spending limit, typically ranging from $200 to $2,500 depending on what you deposit.
- You will pay an annual fee and possibly a monthly maintenance fee, so read the full fee schedule before you decide whether the card makes sense for your situation.
- The card reports to all three major credit bureaus, so on-time payments can help build your credit history if you have little or no credit file.
- After a period of responsible use — usually 12 to 24 months — you may be able to convert to an unsecured card and recover your deposit.
- Your deposit sits in a savings account at the bank, earning a small amount of interest, and is separate from your monthly card payments.
How the Deposit and Credit Limit Work
When you open an AVB card, you choose how much to deposit, and that amount becomes your credit limit. If you deposit $500, your limit is $500. The deposit is held in a savings account at Customers Bank and earns interest, though the rate is typically very low — often less than 1 percent annually. You do not touch this money to pay your monthly card bill; instead, you pay your bill from your regular bank account, just as you would with any credit card.
The minimum deposit is usually $200, and the maximum is typically $2,500, though these amounts can vary. You control the deposit amount, so you can start small if you are uncertain about committing a large sum. The deposit remains yours — it is not a fee the bank keeps. When you close the account or convert to an unsecured card, the bank returns your deposit to you.
Fees You Will Pay
The AVB card charges an annual fee, which is deducted from your account once per year. The amount varies depending on the specific card product, but annual fees for secured cards typically range from $25 to $99. Some versions of the card also charge a monthly maintenance fee, usually between $5 and $10 per month. These fees are separate from your deposit and are paid from your regular checking account, not from your deposit.
You may also face late fees if you miss a payment, over-limit fees if you exceed your credit limit, and foreign transaction fees if you use the card outside the United States. Read the full fee schedule on Customers Bank's website or in the card's terms and conditions before you open the account. The total cost of holding the card for a year — deposit interest earned minus all fees — matters when you are deciding whether a secured card is right for you.
Building Credit History With the AVB Card
The AVB card reports your payment history to Equifax, Experian, and TransUnion — the three major credit bureaus. This means that if you use the card responsibly and pay on time each month, those payments show up on your credit report. For someone with no credit history or a damaged credit history, this reporting is the main reason to open a secured card in the first place.
To build credit effectively, charge small amounts regularly — groceries, gas, a subscription — and pay the full balance or at least the minimum payment by the due date every month. Avoid maxing out your limit; using less than 30 percent of your available credit is better for your credit score. After 12 to 24 months of on-time payments, you may receive an offer to convert to an unsecured card, at which point your deposit is returned and you no longer need the security feature.
When to Convert to an Unsecured Card
Customers Bank may offer to convert your AVB card to a standard unsecured card after you have demonstrated responsible use. There is no fixed timeline — some cardholders convert after 12 months, others after 24 months or longer. The bank reviews your account periodically and sends an offer if you meet their criteria, which typically include on-time payments, low credit utilization, and no late or missed payments.
When you convert, your deposit is returned to you, usually within a few business days. You keep the same card account and credit history, so the conversion does not hurt your credit score. Your new unsecured card may have a different annual fee or no annual fee at all, depending on the product you convert to. You are not required to convert — if you want to keep the secured card, you can, though most people move to an unsecured card once they are able.
How the AVB Card Compares to Other Secured Cards
Secured cards from different banks have different fee structures, deposit minimums, and paths to conversion. Some secured cards charge no annual fee but have higher monthly maintenance fees. Others charge higher annual fees but lower monthly costs. Some banks offer higher interest rates on the deposit, though these differences are usually small — a fraction of a percent.
The key comparison points are: annual fee, monthly maintenance fee (if any), minimum and maximum deposit amounts, interest rate on the deposit, and how long the bank typically takes to offer conversion. You can find this information on the bank's website or by calling customer service. If you are comparing the AVB card to other secured cards, list out the total cost of holding each card for one year, including all fees and the interest earned on your deposit. The cheapest card is not always the best — a card with slightly higher fees but faster conversion may save you money overall.
How to Open an AVB Credit Card
You can open an AVB card online through Customers Bank's website or by phone. The online process typically takes 10 to 15 minutes. You will need to provide your name, address, date of birth, Social Security number, and employment information. The bank will pull a credit report as part of the approval process.
Once you are approved, you choose your deposit amount and provide banking information so the bank can transfer the deposit from your account. The deposit usually moves within one to three business days. Your physical card arrives by mail within 7 to 10 business days after that. You can often set up the card online before it arrives and begin using it for online purchases.
Frequently Asked Questions
Can I use the AVB card right away, or do I have to wait for the physical card?
Most banks allow you to use a secured card for online and phone purchases as soon as your account is approved and funded, even before the physical card arrives. You can request a virtual card number from Customers Bank to use when ready. In-store purchases require the physical card, which typically arrives within 7 to 10 business days.
What happens if I miss a payment on the AVB card?
A missed payment is reported to the credit bureaus and will damage your credit score. You will also owe a late fee, usually $25 to $35. If you miss a payment, contact the bank as soon as possible to bring your account current. The longer the payment is overdue, the worse the impact on your credit.
Can I increase my credit limit without adding more money to my deposit?
With a secured card, your credit limit is tied directly to your deposit, so you cannot increase your limit without increasing your deposit. However, after you convert to an unsecured card, the bank may offer you a higher limit based on your payment history and credit score, without requiring additional money.
Is my deposit protected if Customers Bank fails?
Yes. Customers Bank is a federally chartered bank, and deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per account holder. Your deposit sits in a savings account and is covered by this insurance, so your money is protected even if the bank encounters financial trouble.
What credit score do I need to open an AVB card?
Secured cards are designed for people with no credit history or poor credit, so there is typically no minimum credit score requirement. However, Customers Bank will still review your process and may decline you if you have recent fraud, identity theft, or other serious issues on your credit report. Call the bank to ask about your specific situation if you are unsure.