Originally Posted by
jdsva
Pretty sure this card is just a HELOC on a credit card. I suppose it's okay, but I'd rather have the flexibility of a separate line of credit for liquidity purposes than waste that lien on a credit card.
It is not. There are 2 types of AVEN.
Type 1: Max 10K purchase / year for 3% cashback. NOT based on home equity
Type 2: Max 100K purchase / year for 3%. Based on your home equity.
I have the type 1 card. My review:
Aven card is similar to the Robinhood 3% Gold Card with 2 benefits:
1. No Robinhood Gold account requirement.
2. No random disqualification of the rewards (so far), which makes sense due to the low cashback limit.
Disadvantages vs Robinhood: 3% cashback is limited to the first $10K every year, then 2% unlimited.