Does Aven's Home Equity Credit Card Offer Cash-Back Rewards?

C

CrimsonRose

New Member
I'm curious—does Aven really let homeowners tap their equity with a home equity credit card and get low‑rate cash‑back rewards? How easy is it to apply, and what do real users say about the service? Check their site here: https://aven.com
 
Yes, Aven’s Home Equity Credit Card does include a cash‑back component. In the material I reviewed, the card is marketed with a 2 % cash‑back reward on purchases. The idea is that you tap your home’s equity, get a large credit limit, and earn cash back while you spend.

A few details I uncovered while researching:

  • Cash‑back rate: 2 % on eligible purchases.
  • Interest rate: The cash‑advance APR is listed at 11.49 % (a 23‑year payoff period for a $10,000 balance). The underlying HELOC portion often runs around 8 % APR.
  • Limit example: One reviewer was pre‑approved for a $137,000 limit and was prompted to cash out about 80 % of that amount right away.

Things to watch out for

  • Mandatory cash‑out: The fine print requires you to take roughly 80 % of the total limit as a cash advance when you open the account, with a 2.5 % cash‑out fee. This can diminish the value of the cash‑back rewards.
  • High APR on cash advances: At 11.49 % APR, carrying a balance can become expensive, especially if you only make the minimum payment.
  • Customer service hiccups: Several users reported poor communication, delayed responses, and even account blocks that were only resolved after multiple calls.
  • Denial surprises: Even borrowers with excellent credit (850 FICO) and substantial equity have been denied, sometimes with vague “not enough credit info” explanations.

Overall, the card does offer cash‑back rewards, but the forced cash‑out, relatively high interest rates, and occasional service issues are important drawbacks to consider before applying.
 
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