Q: How quickly do I need to upload requested documents?

Respond within 2 to 4 hours to avoid delaying closing. Within 2 to 4 hours after we make the request. Waiting until the next business day will usually push back the closing date.

Question 1

What happens if I close my Aven account?

Accepted Answer

Close an Aven HELOC through the app or online payoff function. After full payment settles, Aven closes the account at the next billing cycle and sends the lien release. Wire payments are strongly recommended to avoid delays. Overpayment refunds follow specified processing and delivery timelines.

To close an Aven HELOC account, please use the payoff function in the Aven app or online. Once Aven receives and processes payment for the full payoff amount and the payment settles (i.e. the payment can no longer be reversed), Aven will close the account at the next billing cycle date and send the lien release to the county recorder.

We strongly recommend that you send your account payoff funds by wire. Any other mode of payment will significantly delay the lien release (often by at least 60 days) as we wait for the funds to settle. Aven is not responsible for missed closings, rate lock expirations, or any other situations that arise due to any delays in account closures or lien removals. We encourage you to allow for enough time for payments to settle and for recording offices to process any lien release.

If the payoff results in an overpayment and leaves a credit balance on the account, Aven will refund the credit balance to the verified bank account on file. If no bank account is available, Aven will mail a check. For balances less than $5,000, Aven waits 2 business days after the post-closure billing cycle date to process the refund; for balances of $5,000 or more, Aven waits 30 calendar days after the post-closure billing cycle date to process the refund. Checks may take 7–10 business days to arrive, and funds sent to the bank account may take 1–2 business days to post after processing.

Question 2

There are multiple ways a property can be owned. Are there any restrictions for the Home Purchase Line?

Accepted Answer

Property ownership may be sole ownership, joint tenancy with survivorship, tenants in common, or community property. The Home Purchase Line permits joint tenancy and community property, but not tenants in common.

Yes. Here’s a breakdown:

Sole Ownership: Property owned entirely by one unmarried individual, or by a married person as separate property.
Joint Tenancy (with Right of Survivorship): Co-owned by two or more people with equal shares. If one passes away, their share goes to the surviving owners. This form of ownership is permitted for the Home Purchase Line.
Tenants in Common: Co-owned by two or more people with potentially unequal shares. If one passes away, their share goes to their heirs. This form of ownership is not permitted for the Home Purchase Line.
Community Property: Available in specific states; property acquired during marriage is owned 50/50 by both spouses. This form of ownership is permitted for the Home Purchase Line.

Question 3

What forms of ID are acceptable at signing?

Accepted Answer

Valid, unexpired U.S. federal or state-issued ID required; foreign IDs are unacceptable.

An unexpired, valid government-issued ID, either from the United States federal government or one of the U.S. states. IDs issued by governments outside the United States are not acceptable.

Question 4

How much home insurance coverage do I need?

Accepted Answer

Coverage must meet home replacement cost or loan amount.

Coverage must be equal to or greater than the total replacement cost of the home, or your total loan amount.

Question 5

Will a full in-person appraisal be required, or do you use an automated valuation model (AVM)?

Accepted Answer

We require a full appraisal to be completed by a licensed appraiser that we select.

Question 6

How quickly do I need to upload requested documents?

Accepted Answer

Respond within 2 to 4 hours to avoid delaying closing.

Within 2 to 4 hours after we make the request. Waiting until the next business day will usually push back the closing date.

Question 7

What is the difference between Aven’s Home Purchase Line and a traditional home purchase mortgage?

Accepted Answer

Aven’s Home Purchase Line lets you draw funds over time, with remaining credit available during the draw period.

Unlike a traditional home purchase mortgage, where you receive a fixed sum of money all at once to buy the home, Aven’s Home Purchase Line is an open-end line of credit that you may draw from over a period of time. After drawing the money needed to buy the home, any remaining credit line is available to draw during the account’s draw period.

Question 8

How do cardholders access statements, AutoPay, and Account Agreements?

Accepted Answer

Cardholders can log into the Aven app to manage payments, view statements, or review their electronic Account Agreement. First payments are generally due 30 to 45 days after initial funds are released to the contractor.

Question 9

What are HIL (Home Improvement Line) Support's business hours and contact details?

Accepted Answer

HIL Support is available Monday through Friday, 6:00 AM to 8:00 PM Pacific Time (PT) at 216-377-3299.

Question 10

What happens if a project is canceled or service is incomplete?

Accepted Answer

If a home improvement project is canceled or service is not rendered, cardholders should contact Aven Support (opshilsupport@aven.com) promptly. If the request is submitted within the initial rescission period, cancellation instructions are provided. For canceled projects or incomplete services outside the rescission period, available resolution options depend on whether a contractor has performed any work on the project and whether funds have already been disbursed to the contractor.

Question 11

What financing terms apply to HIL (Home Improvement Line) accounts?

Accepted Answer

Financing terms, including the credit limit, APR, and repayment term, depend on the specific financing product and the terms of the approved account. For certain products, the rate may be locked for an initial period, while future draws may be subject to the rate in effect at the time of the draw.

Question 12

Why is identity verification required, and how are verification issues handled?

Accepted Answer

Aven verifies personal information (such as full name, SSN, date of birth, and co-owner ID) to complete application reviews and protect against identity theft.

Uploading Documents: Identification documents must be uploaded through Aven's secure portal links.
Mismatches or Uncompleted Verification: If verification fails or information does not match, additional documentation is required before the review can proceed.
Unauthorized Accounts: If an account was opened without authorization or the contractor is unrecognized, Aven conducts an identity theft and fraud review.

Question 13

How does project funding work?

Accepted Answer

The contractor initiates the funding request through the Merchant Portal, and the cardholder approves it in the Aven app. Once approved, Aven disburses the funds directly to the contractor. If a cardholder has funded a project with a HELOC secured by a California property, Aven will disburse the funds directly to the consumer and the consumer is responsible for paying the contractor.

Question 14

What is the difference between approved amount, credit limit, and project amount for Home Improvement Lines (HIL)?

Accepted Answer

Approved Amount: The total credit line approved by Aven underwriting.
Credit Limit: The total credit line that the consumer has selected for the account.
Project Amount: The specific dollar amount disbursed or allocated for the participating contractor's project.

Question 15

Should I expect a Welcome Call?

Accepted Answer

Yes. After financing is approved, Aven conducts short post-approval Welcome Calls to confirm account details, explain financing terms, evaluate project status, and gauge customer satisfaction with both Aven and the contractor. Cardholders may request to opt out of these calls at any time.

Question 16

Where and how do applicants apply for HIL (Home Improvement Line) financing?

Accepted Answer

Home Improvement Line (HIL) HELOC applications are submitted through participating contractors using a Merchant Portal during sales appointments. Homeowners applying through participating contractors are evaluated based on Aven's underwriting criteria. Having an existing Aven account does not automatically exclude a borrower from applying for an HIL product.

Question 17

What is the Home Improvement Line (HIL) and what products are offered?

Accepted Answer

The Home Improvement Line (HIL) allows homeowners to finance home improvement projects through participating contractors. HIL supports two main financing options:

Home Improvement Rewards: A line of credit designed to help finance home improvement projects.
Home Improvement HELOC: A home equity line of credit designed specifically for home improvement financing.

Question 18

Can you have two home equity lines at the same time?

Accepted Answer

No. Under Texas law, you can generally have only one home equity line on the property at a time.

Question 19

Are there any origination, annual, or subsequent fees for Texas accounts?

Accepted Answer

The Texas Aven Cash product has a specific 2% origination fee based on your total credit line size. However, this account has no annual fees, application fees, or account closing fees. There are also no extra fees charged for subsequent cash-outs or balance transfers after your initial account setup.

Question 20

Do I need to notify Aven if I transfer my property into a living trust?

Accepted Answer

If you are transferring your property into a revocable living trust, you do not need to notify Aven or submit any paperwork to us.

If you are transferring the property into an irrevocable trust, or if your trust brings in unrelated third parties as trustees, our team will need to review the full trust documents. In those specific cases, please contact our support team by phone or emailing support@aven.com.

Question 21

Do I need to notify Aven if I transfer my property into a living trust?

Accepted Answer

If you are transferring your property into a revocable living trust, you do not need to notify Aven or submit any paperwork to us.

If you are transferring the property into an irrevocable trust, or if your trust brings in unrelated third parties as trustees, our team will need to review the full trust documents. In those specific cases, please contact our support team by phone or emailing support@aven.com.

Question 22

When can I reapply if I previously closed my Aven account?

Accepted Answer

There is no waiting period to reapply after closing an Aven account, but the old account must be fully paid and officially closed first.

There is no waiting period to reapply if you have previously closed an Aven account. However, before you can submit a new application, your old account must be paid in full and officially marked as closed in our system. You will be ready to apply again as soon as you receive your official account closure letter.

Question 23

Can I change my Aven Home Equity Cash account to an Aven Home Equity Card account (or vice versa)?

Accepted Answer

Currently, accounts cannot be changed between products; you must close and reapply to switch products. Multiple accounts can coexist.

No, at this time, we are unable to change an account from one product to another. You can close your account and then reapply if you wish to switch to a different product.

You may have an Aven Home Equity account and an Aven Rewards Card account at the same time.

Question 24

Are there minimum income requirements to apply for an Aven Home Card?

Accepted Answer

Yes, to qualify for an Aven Home Card, the primary applicant must have a minimum annual income of $20,000. A co-applicant must have an annual income of at least $10,000.

Question 25

Can I use a temporary ID for verification?

Accepted Answer

Applicants must have a permanent, unexpired US-issued ID; foreign passports are not accepted for signing sessions.

No. To complete the signing session, including any required notarizations, applicants need to have a permanent, unexpired US issued identification document, such as a Driver's License, Passport Book, or Passport Card, etc. We cannot accept foreign passports.

Question 26

Can I use a temporary ID for verification?

Accepted Answer

Applicants must have a permanent, unexpired US-issued ID; foreign passports are not accepted for signing sessions.

No. To complete the signing session, including any required notarizations, applicants need to have a permanent, unexpired US issued identification document, such as a Driver's License, Passport Book, or Passport Card, etc. We cannot accept foreign passports.

Question 27

How long does it take to release the lien on my home (reconveyance)?

Accepted Answer

Once your account is paid off and closed, Aven sends a reconveyance request to your county recorder to officially release the lien on your property. The county recorder’s office normally takes 30 to 90 days, though exact timing depends on local government backlogs and processing speeds.

If you are currently refinancing with another lender, they will often accept proof that this request has already been submitted while you wait for the final recorded document.

You may also contact Aven anytime by emailing support@aven.com for status updates or to request available supporting documents.

Question 28

Why can’t I use a VPN when I’m applying for the Aven Bitcoin Visa Card?

Accepted Answer

We verify your identity when you apply for the Aven Bitcoin Visa Card to help protect you. A VPN can mask or change your IP address, which can prevent us from confirming you are applying from an eligible location.

For security and compliance reasons, we require a direct connection when you apply for the Aven Bitcoin Visa Card. Disabling your VPN helps ensure your application can be reviewed accurately and processed without delays.

Question 29

Why aren’t the Aven Bitcoin Visa Card’s rewards available as bitcoin or crypto?

Accepted Answer

We design our cards to be simple, transparent, and rewarding. Cash back in U.S. dollars as a statement credit is an easier way for you to earn and use your rewards without potential tax concerns. Consult a tax or financial advisor to learn more about any tax consequences.

Question 30

How does cash back on the Aven Bitcoin Visa Card work?

Accepted Answer

You can earn an unlimited 2% cash back on purchases made with your Aven Bitcoin Visa Card. Cash back can be redeemed as statement credits in U.S. dollars. (See cash back terms and conditions. Some restrictions apply.)

The Aven Bitcoin Visa Card does not provide cash back in bitcoin, stablecoins, or other digital assets.

Question 31

How is the Aven Bitcoin Visa Card different from the Aven Home Equity Visa Card or Aven’s other cards and loans?

Accepted Answer

Aven is a leader in giving consumers credit for the assets they already own. The Aven Home Equity Visa Card is a HELOC that works like a credit card, which gives homeowners flexibility and a lower cost of capital based on their home equity. The Aven Bitcoin Visa Card works the same way, but with bitcoin instead of home equity as the underlying asset.

The Aven Bitcoin Visa Card is a bitcoin-backed line of credit that is accessible as a credit card. There are no minimum draws or obligations, so you can use only what you need.

Question 32

Is the Aven Bitcoin Visa Card a KYC-free or anonymous card?

Accepted Answer

No - The Aven Bitcoin Visa Card is not a KYC-free or anonymous card.

We verify the identity of applicants when they apply for the Aven Bitcoin Visa Card to comply with the law and protect our borrowers. The application process includes an ID document verification and a live “selfie” facial recognition verification.

Question 33

Why does Aven require a credit check for the Aven Bitcoin Visa Card?

Accepted Answer

Aven may make a “soft” inquiry on your credit report as part of the application process to verify your identity and assess your ability to repay. A soft inquiry does not affect your credit score.

A “hard” inquiry occurs only if you proceed with and accept an offer for the Aven Bitcoin Visa Card.

While your bitcoin serves as collateral for the Aven Bitcoin Visa Card, we take additional steps to manage risk responsibly and ensure your assets are safe.

Some bitcoin-backed loan providers advertise no credit checks and rely only on your deposited bitcoin. This can create higher liquidation risk for you.

By incorporating a credit check, we can offer you more stable terms (including some of the lowest interest rates in the industry) and reduce the likelihood of forced liquidation.

Question 34

Will the Aven Bitcoin Visa Card impact my credit score?

Accepted Answer

We will share information about your account, including line size, payment history, and default events with consumer reporting agencies or credit bureaus.

Question 35

What is the minimum credit score required for a bitcoin-backed loan?

Accepted Answer

Aven requires a credit score of 620 or higher for the Aven Bitcoin Visa Card.

Question 36

What is a margin call?

Accepted Answer

A margin call is a notice that we will liquidate a portion of your bitcoin if you do not bring your account’s loan-to-value ratio down to a healthy level. The threshold depends on the initial borrowing tier you selected when you applied.

If your loan-to-value ratio reaches 80% and is not reduced within 72 hours, we will liquidate a portion of your deposited bitcoin. For Aven Bitcoin Visa Cards with an initial borrowing tier of 30% or 50%, we will sell enough bitcoin to bring the loan-to-value ratio back down to 30%. For Aven Bitcoin Visa Cards with an initial borrowing tier of 70%, we will sell enough bitcoin to return the loan-to-value ratio to 70%.

Question 37

Can I do anything to prevent the liquidation or forced sale of my bitcoin?

Accepted Answer

Yes - You will need to make on-time monthly payments on your Aven Bitcoin Visa Card. If your Aven Bitcoin Visa Card is past due, we will liquidate some or all of your deposited bitcoin to pay any outstanding balances and any accumulated interest or fees.

A liquidation fee is charged if your loan-to-value ratio is too high and a full liquidation is required. We do not charge a liquidation fee for partial liquidations.

We provide reminders and alerts so that you can keep current on your payments and manage the loan-to-value level on your Aven Bitcoin Visa Card.

We will try to notify you if the loan-to-value ratio on your Aven Bitcoin Visa Card reaches a warning level or other threshold so that you can deposit more bitcoin or make a payment to avoid a liquidation of your deposited bitcoin.

If you selected 30% as your initial borrowing tier, we will try to send you a warning when your Aven Bitcoin Visa Card reaches a 50% loan-to-value ratio.

If you selected 50% as your initial borrowing tier, we will try to send you a warning when your Aven Bitcoin Visa Card reaches a 60% loan-to-value ratio.

For all borrowing tiers, we will lock your Aven Bitcoin Visa Card at a 70% loan-to-value ratio.

If your loan-to-value ratio reaches 80% and is not reduced within 72 hours, we will liquidate a portion of your deposited bitcoin. For Aven Bitcoin Visa Cards with an initial borrowing tier of 30% or 50%, we will sell enough bitcoin to bring the loan-to-value ratio back down to 30%. For Aven Bitcoin Visa Cards with an initial borrowing tier of 70%, we will sell enough bitcoin to return the loan-to-value ratio to 70%.

If the loan-to-value ratio on your Aven Bitcoin Visa Card reaches 85%, we will close your account and fully liquidate your deposited bitcoin to repay the loan and any accumulated interest and fees. A 2% liquidation fee applies with a full liquidation.

Initial borrowing tier	Warning	Balance locked	Margin call (72 hours)	Wipeout (immediate)
30%	50% LTV	70% LTV	80% LTV (to bring down to 30%)	85% LTV
50%	60% LTV	70% LTV	80% LTV (to bring down to 30%)	85% LTV
70%	—	70% LTV	80% LTV (to bring down to 70%)	85% LTV

Liquidation may occur without notice because of the volatile nature of bitcoin and other digital assets.

Question 38

Can I lose my bitcoin with the Aven Bitcoin Visa Card?

Accepted Answer

We may sell some of your deposited bitcoin to bring down the loan-to-value ratio on your Aven Bitcoin Visa Card or pay off the entire balance in the case of default or a full liquidation. A 2% liquidation fee applies with a full liquidation.

If you selected 30% as your initial borrowing tier, we will try to send you a warning when your Aven Bitcoin Visa Card reaches a 50% loan-to-value ratio.

If you selected 50% as your initial borrowing tier, we will try to send you a warning when your Aven Bitcoin Visa Card reaches a 60% loan-to-value ratio.

For all borrowing tiers, we will lock your Aven Bitcoin Visa Card when you reach a 70% loan-to-value ratio.

If your loan-to-value ratio reaches 80% and is not reduced within 72 hours, we will liquidate a portion of your deposited bitcoin. For accounts with an initial borrowing tier of 30% or 50%, we will sell enough bitcoin to bring the loan-to-value ratio back down to 30%. For Aven Bitcoin Visa Cards with an initial borrowing tier of 70%, we will sell enough bitcoin to return the loan-to-value ratio to 70%.

If the loan-to-value ratio on your Aven Bitcoin Visa Card reaches 85%, we will close your account and fully liquidate your deposited bitcoin to pay your outstanding balance and any accumulated interest and fees. A 2% liquidation fee applies with a full liquidation.

Initial borrowing tier	Warning	Balance locked	Margin call (72 hours)	Wipeout (immediate)
30%	50% LTV	70% LTV	80% LTV (to bring down to 30%)	85% LTV
50%	60% LTV	70% LTV	80% LTV (to bring down to 30%)	85% LTV
70%	—	70% LTV	80% LTV (to bring down to 70%)	85% LTV

Liquidation may occur without notice because of the volatile nature of bitcoin and other digital assets.

Question 39

Why does Aven liquidate or sell bitcoin?

Accepted Answer

We will only sell your deposited bitcoin to bring your loan-to-value ratio down to the agreed upon ratio or pay off your outstanding balance in the event of default. A 2% liquidation fee applies with a full liquidation. We do not charge a liquidation fee for partial liquidations.

We will try to notify you if the loan-to-value ratio on your Aven Bitcoin Visa Card reaches a warning level or other threshold so that you can deposit more bitcoin or make a payment to avoid liquidation of your deposited bitcoin.

Liquidation may occur without notice because of the volatile nature of bitcoin and other digital assets.

Initial borrowing tier	Warning	Balance locked	Margin call (72 hours)	Wipeout (immediate)
30%	50% LTV	70% LTV	80% LTV (to bring down to 30%)	85% LTV
50%	60% LTV	70% LTV	80% LTV (to bring down to 30%)	85% LTV
70%	—	70% LTV	80% LTV (to bring down to 70%)	85% LTV

We do not sell, lend out, repledge, or rehypothecate your deposited bitcoin.

Question 40

What happens if I can’t pay back what I borrow on my Aven Bitcoin Visa Card?

Accepted Answer

We will liquidate your deposited bitcoin to pay any past due balances and any accumulated interest or fees. You will be charged a fee for late payments.

A liquidation fee is charged if your loan-to-value ratio is too high and a full liquidation is required. We do not charge a liquidation fee for partial liquidations.

Question 41

What happens if I miss a payment on my Aven Bitcoin Visa Card?

Accepted Answer

If your Aven Bitcoin Visa Card is past due, we will liquidate some or all of your deposited bitcoin to pay any minimum monthly payments and any accumulated interest or fees. You will be charged a fee for the late payment.

A liquidation fee is charged if your loan-to-value ratio is too high and a full liquidation is required. We do not charge a liquidation fee for partial liquidations.

Question 42

Do I have to make a payment on the Aven Bitcoin Visa Card every month?

Accepted Answer

Yes - The Aven Bitcoin Visa Card requires a payment each month you have outstanding principal drawn from your line of credit or a balance on your card.

You can repay any balance, cash-outs, or balance transfers at any time with no prepayment penalty.

Question 43

How do I make payments on the Aven Bitcoin Visa Card?

Accepted Answer

You can make payments on your Aven Bitcoin Visa Card through the Aven app or website in U.S. dollars by ACH, debit card, or wire transfer. A transaction fee applies for payments made from a debit card.

Payments in bitcoin, stablecoins, or other crypto are not yet supported.

Question 44

What fees does the Aven Bitcoin Visa Card charge?

Accepted Answer

The Aven Bitcoin Visa Card has no annual fee and no origination fee unlike many bitcoin-backed loans. There is a 1% draw fee for cash outs and balance transfers.

You are responsible for any transaction fees required to deposit or withdraw bitcoin. Aven does not charge these fees.

The Aven Bitcoin Visa Card has fees for authorized users, balance transfers, and late payments like other credit cards.

A liquidation fee is charged if your loan-to-value ratio is too high and a full liquidation is required. We do not charge a liquidation fee for partial liquidations.

You may be subject to taxes due to the sale of your bitcoin if we need to liquidate your account because you do not maintain your loan-to-value ratio, have a past-due balance, or default on your account. Consult a tax or financial advisor to learn more about any tax consequences.

Question 45

How are the Aven Bitcoin Visa Card’s rates set?

Accepted Answer

Rates for the Aven Bitcoin Visa Card depend on the borrowing tier selected when you apply and the bitcoin you deposit.

Your APR is determined by your borrowing tier. APRs range from 7.99% to 11.99% for both fixed and variable rates. In comparison, many bitcoin-backed loans have APRs of about 10% or more. Rates may change.

Borrowing tier	Fixed APR for cash outs and balance transfers	Variable APR for purchases
30% of the bitcoin value deposited	7.99%	7.99%
50% of the bitcoin value deposited	9.99%	9.99%
70% of the bitcoin value deposited	11.99%	11.99%

You can request a change to your borrowing tier.

Question 46

Will the Aven Bitcoin Visa Card have increased credit limits if the price of bitcoin increases?

Accepted Answer

You can request a credit limit increase for your Aven Bitcoin Visa Card at any time, including if the price of bitcoin increases significantly for a sustained period of time. You can also request a change to your borrowing tier by contacting us.

Credit limit increases on the Aven Bitcoin Visa Card are made at our discretion and are not guaranteed.

Question 47

What happens to my Aven Bitcoin Visa Card if the price of bitcoin falls?

Accepted Answer

Your spending power may change if the price of bitcoin falls, as it is based on your loan-to-value ratio.

You can view the current loan-to-value and account health of your Aven Bitcoin Visa Card through the Aven app or website.

Question 48

How does Aven determine the value of bitcoin to determine my balance, loan-to-value ratio, or liquidation?

Accepted Answer

Aven continuously surveys the latest BTC/USD spot rates from leading crypto custodians and exchanges, including Binance, BitGo, and Kraken.

Question 49

Can I prepay my Aven Bitcoin Visa Card to withdraw my bitcoin?

Accepted Answer

No - You can only withdraw excess bitcoin that is not needed to support your line of credit and the loan-to-value ratio that you select.

You must close and pay off your Aven Bitcoin Visa Card account to withdraw the entirety of your deposited bitcoin collateral.

Question 50

Does Aven take possession or custody of my bitcoin?

Accepted Answer

No - Aven does not take possession or custody of your bitcoin.

You will need to deposit bitcoin with Aven’s custodian BitGo as collateral for the Aven Bitcoin Visa Card. You can add or withdraw bitcoin or funds over time. Any deposited bitcoin must be kept in your Aven account for at least seven consecutive days before it is eligible for withdrawal.

You can view the excess bitcoin available to withdraw from your Aven Bitcoin Visa Card in the Aven app.

Question 51

Do I need to deposit bitcoin to complete the Aven Bitcoin Visa Card application?

Accepted Answer

Yes - The Aven Bitcoin Visa Card is backed by the bitcoin you deposit. You need to deposit bitcoin with Aven’s custodian to use your line of credit.

Question 52

Do I have to deposit an entire bitcoin to get the Aven Bitcoin Visa Card?

Accepted Answer

No - You can deposit partial or fractional bitcoin to support your Aven Bitcoin Visa Card.

The Aven Bitcoin Visa Card has an initial credit limit between $1,000 to $1 million, based on the borrowing tier (30%, 50%, or 70%) selected when you apply.

Question 53

What is a loan-to-value ratio?

Accepted Answer

A loan-to-value ratio is the percentage of the collateral’s value taken out as a loan. For example, if you choose $30,000 as your initial credit limit and deposit $100,000 worth of bitcoin as collateral, the loan-to-value ratio of your Aven Bitcoin Visa Card is 30%, or $30,000 divided by $100,000.

We offer our lowest purchase APR to borrowers with the lowest borrowing tier or loan-to-value ratio. A lower loan-to-value ratio reduces the risk of liquidation or the sale of some or all of your collateral to repay the loan.

Question 54

How is my required bitcoin collateral amount determined for the Aven Bitcoin Visa Card?

Accepted Answer

When you apply, you can select one of three borrowing tiers: 30%, 50%, or 70%. Your loan-to-value ratio is based on the tier you select.

You can choose a lower loan-to-value ratio to receive a lower interest rate. A lower loan-to-value can also reduce the risk of liquidation of your collateral if the price of bitcoin falls.

Question 55

How much bitcoin do I need to get an Aven Bitcoin Visa Card?

Accepted Answer

The Aven Bitcoin Visa Card has an initial credit limit between $1,000 to $1 million, based on the borrowing tier (30%, 50%, or 70%) you select when you apply and deposit your bitcoin.

Your borrowing tier is based on the loan-to-value ratio, which determines your APR. (Variable rates may change.)

Borrowing tier	Fixed APR for cash outs and balance transfers	Variable APR for purchases
30% of the bitcoin value deposited	7.99%	7.99%
50% of the bitcoin value deposited	9.99%	9.99%
70% of the bitcoin value deposited	11.99%	11.99%

Question 56

Can I refinance my bitcoin-backed loan with the Aven Bitcoin Visa Card?

Accepted Answer

You can cash out your Aven Bitcoin Visa Card or balance transfer high-interest debt, including any other bitcoin-backed loans. A 1% draw fee and other terms apply.

The Aven Bitcoin Visa Card offers some of the lowest interest rates in the industry. APRs range from 7.99% to 11.99% for both fixed and variable rates. Variable rates may change.

Question 57

What are the requirements to get an Aven Bitcoin Visa Card?

Accepted Answer

The Aven Bitcoin Visa Card is available to people age 18 or older who are U.S. residents with a valid Social Security number and a government-issued ID. You must be able to deposit enough bitcoin to support the line of credit.

We require a credit score of 620 or higher and sufficient income or demonstrated ability to repay.

You must also complete identity verification. The Aven Bitcoin Visa Card is not anonymous.

Question 58

What can I use the Aven Bitcoin Visa Card for?

Accepted Answer

The Aven Bitcoin Visa Card lets you access up to $1 million in liquidity without the sale of bitcoin. You can use the funds for major purchases, pay off high-interest debt, cover tax payments, or spend anywhere Visa cards are accepted.

You can also cash out your lines of credit or transfer existing balances to plans with fixed-rate and fixed-terms of up to 10 years. A 1% draw fee and other terms apply.

Question 59

Does Aven lend out or rehypothecate my bitcoin?

Accepted Answer

No - Aven does not lend out, repledge, or rehypothecate your bitcoin collateral.

Some bitcoin-backed loan providers use a borrower’s bitcoin as collateral to secure their own loans or an affiliated exchange’s trading positions. This is called rehypothecation.

Rehypothecation is risky. If the bitcoin-backed loan provider defaults or becomes insolvent, borrowers might have a hard time recovering their collateral and, in rare cases, could lose it entirely.

Question 60

How is the Aven Bitcoin Visa Card different from bitcoin-backed loans?

Accepted Answer

The Aven Bitcoin Visa Card is a bitcoin-backed line of credit accessible as a credit card. There are no minimum draws or obligations, so you can use only what you need.

With the Aven Bitcoin Visa Card, you can select plans with up to a 10-year fixed-rate, fixed-term or up to a 5-year interest-only repayment period.

As an Aven Bitcoin Visa Cardholder, you can also take advantage of unlimited 2% cash back on all purchases (terms and conditions and certain restrictions apply), which can be redeemed as a statement credit in U.S. dollars. Bitcoin-backed loans do not typically offer cash back or rewards.

Question 61

How does the Aven Bitcoin Visa Card work?

Accepted Answer

The Aven Bitcoin Visa Card lets you access up to $1 million in liquidity with a bitcoin-backed line of credit.

You will need to deposit bitcoin with Aven’s custodian, BitGo, as collateral for the line of credit.

Your bitcoin is returned after you close the line of credit and repay any principal or accumulated interest. If the price of bitcoin falls, we may require you to deposit more bitcoin or make a partial repayment; otherwise, we may liquidate some or all of your collateral to repay the loan.

Question 62

What are the terms of the Aven Bitcoin Visa Card?

Accepted Answer

The Aven Bitcoin Visa Card provides access to capital at one of the lowest costs in the industry. APRs range from 7.99% to 11.99% for both fixed and variable rates. Rates may change.

Aven offers up to a 10-year fixed-rate, fixed-term plan and up to a 5-year interest-only plan.

Question 63

What is the Aven Bitcoin Visa Card?

Accepted Answer

The Aven Bitcoin Visa Card is a bitcoin-backed line of credit accessible through a credit card. The card provides up to $1 million without selling your bitcoin.

As an Aven Bitcoin Visa Cardholder, you can cash out your line of credit or transfer existing balances into fixed-rate and fixed-term plans of up to 10 years. A 1% draw fee and other terms apply.

Question 64

Will paying off my full balance close my account?

Accepted Answer

No. Paying your full statement balance does not automatically close your account. Your HELOC remains open and available for future use if you are within the draw period. Account closure only happens if you explicitly request it through the app or by contacting our support team.

How can we help?

The Aven Home Purchase Line Basics

Preparing for Closing

Property Details, Appraisals & Inspections

Home Insurance Requirements

Closing & Funding

Determining Ways to Hold Title (Vesting)

Can't find what you need?
We're here for you

How can we help?

The Aven Home Purchase Line Basics

Preparing for Closing

Property Details, Appraisals & Inspections

Home Insurance Requirements

Closing & Funding

Determining Ways to Hold Title (Vesting)

Can't find what you need? We're here for you

Can't find what you need?
We're here for you