# EDGAR Filing Document

**Accession Number:** 0001881673
**File Stem:** 0001193125-25-193987
**Filing Date:** 2025-9
**Character Count:** 12870
**Document Hash:** 6d865ba84e45532e9b07554f2c9fb9c7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-193987.hdr.sgml**: 20250902

**ACCESSION NUMBER**: 0001193125-25-193987

**CONFORMED SUBMISSION TYPE**: ABS-15G

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20250902

**ITEM INFORMATION**: Findings and Conclusions of the Third Party Due Diligence Provider Obtained by the Issuer

**FILED AS OF DATE**: 20250902

**DATE AS OF CHANGE**: 20250902

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Credit card

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Avant Credit Card Master Trust
- **CENTRAL INDEX KEY:** 0001881673

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-05767
- **FILM NUMBER:** 251285071

**BUSINESS ADDRESS:**
- **STREET 1:** 222 W. MERCHANDISE MART PLAZA
- **STREET 2:** SUITE 900
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60654
- **BUSINESS PHONE:** 312-763-7498

**MAIL ADDRESS:**
- **STREET 1:** 222 W. MERCHANDISE MART PLAZA
- **STREET 2:** SUITE 900
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60654
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Avant Credit Card Master Trust
- **CENTRAL INDEX KEY:** 0001881673

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act

**BUSINESS ADDRESS:**
- **STREET 1:** 222 W. MERCHANDISE MART PLAZA
- **STREET 2:** SUITE 900
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60654
- **BUSINESS PHONE:** 312-763-7498

**MAIL ADDRESS:**
- **STREET 1:** 222 W. MERCHANDISE MART PLAZA
- **STREET 2:** SUITE 900
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60654
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Avant Credit Card Master Trust
- **CENTRAL INDEX KEY:** 0001881673

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-05767

**BUSINESS ADDRESS:**
- **STREET 1:** 222 W. MERCHANDISE MART PLAZA
- **STREET 2:** SUITE 900
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60654
- **BUSINESS PHONE:** 312-763-7498

**MAIL ADDRESS:**
- **STREET 1:** 222 W. MERCHANDISE MART PLAZA
- **STREET 2:** SUITE 900
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60654

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM ABS-15G** 

**ASSET-BACKED SECURITIZER** 

**REPORT PURSUANT TO SECTION 15G OF** 

**THE SECURITIES EXCHANGE ACT OF 1934** 

**Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:** 

☐ **Rule 15Ga-1(c)(1) under the Exchange Act (17 CFR 240.15Ga-1(c)(1)) for the reporting period to** 

☐ **Rule 15Ga-1(c)(2)(i) under the Exchange Act (17 CFR 240.15Ga-1(c)(2)(i)) for the quarterly reporting period to** 

☐ **Rule 15Ga-1(c)(2)(ii) under the Exchange Act (17 CFR 240.15Ga-1(c)(2)(ii)) for the annual reporting period to** 

☒ **Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)** 

**Central Index Key Number of depositor:** 

## AVANT CREDIT CARD MASTER TRUST
**(Exact name of Issuer as specified in its charter)** 

**Central Index Key Number of issuing entity (if applicable): 0001881673** 

**Central Index Key Number of underwriter (if applicable): N/A** 

**Kevin Friedrich, (312) 763-7415** 

**Name and telephone number, including area code, of the person** 

**to contact in connection with this filing** 

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) ☐

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) ☐

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) ☐

------

**INFORMATION TO BE INCLUDED IN THE REPORT** 

**PART I: REPRESENTATION AND WARRANTY INFORMATION** 

**N/A** 

**PART II: FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS:** 

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| | |
|:---|:---|
| **Item 2.01** | **Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer**  |

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Attached as Exhibit 99.1 hereto is an Independent Accountants' Report on Applying Agreed-Upon Procedures, dated August 18, 2025, of Deloitte & Touche LLP, obtained by the issuer, which report sets forth the procedures and findings with respect to certain agreed-upon procedures performed by Deloitte & Touche LLP pertaining to the issuer's Series 2025-1 Asset Backed Notes.

**EXHIBIT INDEX** 

Exhibit 99.1: Independent Accountants' Report on Applying Agreed-Upon Procedures, dated August 18, 2025 of Deloitte & Touche LLP.

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**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| Avant Credit Card Master Trust<br> By: Avant Transferor LLC | Avant Credit Card Master Trust<br> By: Avant Transferor LLC |
| By: | Avant, LLC, as sole member of Avant Transferor LLC |
| By: | /s/ Kevin Friedrich |
|  | Name: Kevin Friedrich |
|  | Title: Chief Financial Officer |

---

Date: September 2, 2025

## Exhibit 99.1

**Exhibit 99.1** 

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| | |
|:---|:---|
| ![LOGO](g79318g0828185854201.jpg) | **Deloitte & Touche LLP**<br> 3 Second Street<br> Suite 301<br> Harborside Plaza 10<br> Jersey City, NJ 07302<br> USA<br>Tel: +1 212 937 8202<br> www.deloitte.com |

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Avant, LLC 222 W. Merchandise Mart Plaza, Suite 900 Chicago, Illinois 60654

**Independent Accountants' Report** 

**<u>on Applying Agreed-Upon Procedures</u>**

We have performed the procedures described below, related to certain information with respect to a portfolio of revolving credit card accounts in connection with the proposed offering of Avant Credit Card Master Trust 2025-1, Asset Backed Notes. Avant, LLC (the "Company") is responsible for the information provided to us, including the information set forth in the Statistical Data File (as defined herein)

The Company has agreed to the procedures and acknowledged that the procedures performed are appropriate to meet the intended purpose of evaluating the accuracy of certain information set forth in the Statistical Data File. Additionally, J.P. Morgan Securities LLC and Guggenheim Securities, LLC (collectively with the Company, the "Specified Parties") have agreed to the procedures and acknowledged that the procedures performed are appropriate for their purposes. This report may not be suitable for any other purpose. The procedures performed may not address all of the items of interest to a user of the report and may not meet the needs of all users of the report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. Consequently, we make no representations regarding the appropriateness of the procedures described below either for the purpose for which this report has been requested or for any other purpose.

**Agreed-Upon Procedures** 

On July 22, 2025, representatives of the Company provided us a computer-generated data file and related record layout containing data, as represented to us by the Company, as of the close of business June 30, 2025, with respect to 1,523,634 credit card accounts (the "Statistical Data File"). At the Company's instruction, we randomly selected 150 credit card accounts from the Statistical Data File (the "Sample Accounts") and performed certain comparisons and recomputations for each of the Sample Accounts relating to the credit card account characteristics (the "Characteristics") set forth on the Statistical Data File and indicated below.

**Characteristics** 

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| | |
|:---|:---|
| 1. Account number (for informational purpose only)<br> 2. Open date<br> 3. State of residence<br> 4. Annual percentage rate | 5. Credit limit amount<br> 6. Original FICO score<br> 7. Cycle number |

---

We compared Characteristics 2. through 7. to the corresponding information set forth on an electronic account file, prepared, created and delivered by the Company on July 25, 2025, from the servicer system, as of the close of business June 30, 2025 (the "Servicer System File").

**Member of**<br> Deloitte Touche Tohmatsu Limited<br>

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The credit card documents described above used in support of the Characteristics were provided to us by representatives of the Company and are collectively referred to hereinafter as the "Account Documents." We were not requested to perform, and we did not perform, any procedures with respect to the preparation or verification of any of the information set forth on the Account Documents and we make no representations concerning the accuracy or completeness of any of the information contained therein. In addition, we make no representations as to whether the Account Documents are comprehensive or valid instruments or reflect the current prevailing terms with respect to the corresponding Sample Accounts.

**Agreed-Upon Procedures' Findings** 

The results of the foregoing procedures indicated that the Characteristics set forth on the Statistical Data File were found to be in agreement with the above-mentioned Account Documents.

\*\*\*\*\*\*

We make no representations as to the (i) actual characteristics or existence of the underlying documents or data comprising the credit card accounts underlying the Statistical Data File or the conformity of their characteristics with those assumed for purposes of the procedures described herein, (ii) existence or ownership of the credit card accounts or (iii) reasonableness of any of the aforementioned assumptions, information or methodologies.

It should be understood that we make no representations as to questions of legal interpretation or as to the sufficiency for your purposes of the procedures enumerated in the preceding paragraphs. Also, such procedures would not necessarily reveal any material misstatement of the information referred to above. We have no responsibility to update this report for events and circumstances that occur subsequent to the date of this report.

We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants ("AICPA"). An agreed-upon procedures engagement involves the practitioner performing specific procedures that the engaging party has agreed to and acknowledged to be appropriate for the purpose of the engagement and reporting on findings based on the procedures performed. We were not engaged to conduct, and did not conduct, an (i) audit conducted in accordance with generally accepted auditing standards or (ii) examination or a review engagement conducted in accordance with attestation standards established by the AICPA, the objective of which would be the expression of an opinion or conclusion, respectively, on the Statistical Data File. Accordingly, we do not express such an opinion or conclusion, or any other form of assurance, including reasonable assurance. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

We are required to be independent of the Company and to meet our other ethical responsibilities, as applicable for agreed-upon procedures engagements set forth in the Preface: Applicable to All Members and Part 1 – Members in Public Practice of the Code of Professional Conduct established by the AICPA. Independence requirements for agreed-upon procedure engagements are less restrictive than independence requirements for audit and other attestation services.

None of the engagement, procedures or report was intended to address, nor did they address, the (i) conformity of the origination of the assets to stated underwriting or credit extension guidelines, standards, criteria or other requirements, (ii) value of collateral securing such assets or (iii) compliance of the originator of the assets with federal, state, and local laws and regulations.

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None of the engagement, procedures or report were intended to satisfy, nor did they satisfy, any criteria for due diligence published by a nationally recognized statistical rating organization.

This report is intended solely for the information and use of the Specified Parties identified above and is not intended to be and should not be used by anyone other than these Specified Parties.

Yours truly,

/s/ Deloitte & Touche LLP

August 18, 2025