Aspire Visa Card - Do We Recommend It?

Aspire Visa Card - Do We Recommend It?

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An Aspire Visa card is an unsecured card that is primarily aimed at people who have bad credit. An individual may have a bad score if they have previously missed bill payment dates, exceeded the limit on their cards, or generally had any other sort of credit-related problem.

People with a low score will be limited in the amount and types of cards they are eligible for. This is because many lenders will regard them as a high risk, and feel that they are less likely to pay their bills on time and manage their account in the correct manner.

Some companies, however, produce and operate cards specifically for this group of consumers, and the Aspire Visa card is one such product.

The card works in the same way as most other unsecured cards. The cardholder will be assigned a limit, and then the card can be used to pay bills and purchase goods and services at any retailer that displays the Visa sign, up to a maximum cost of this limit. The card owner will also be required to pay a monthly bill, and have a percentage of interest added onto this bill.

The annual percentage rate of interest, known as the APR, is prime rate plus 13.5%, with a minimum of 19.5%. There is also a 25-day grace period, meaning if you buy an item(s), but then pay your balance off in full before 25 days have elapsed, you will not be charged any interest. These are fairly standard figures for a card of this type.

There are several drawbacks, in particular relating to the fees and charges that the customer has to pay. There is an account opening fee of $29, an annual fee of $150 and a monthly maintenance fee of $6.50 (a total of $78 every year).

Although many bad credit card operators make monthly and/or annual charges, the actual amounts charged on the Aspire Visa are extremely high. This means that once you have been approved for and sent your card, you could find yourself already owing over $180 in fees - putting you in debt from day one.

Other fees and charges that you should be aware of are a cash advance fee of 5% (with a minimum of $5) and a late payment fee of $35. These are both about average for a card of this type.

Overall, this card has its uses and benefits, and will appeal to some people that have a poor rating, there are other cards on the market that charge lower fees, and it would be beneficial for you to shop around before applying for this card.

However, due to an ongoing problem with the Federal Trade Commission (FTC), the Aspire Visa credit card is not currently available, and applications are not being processed

About the Author:
For more about the Aspire Credit Card or the Tribute Credit Card another popular credit card for individuals with a less than perfect credit rating visit us.



Article Originally Published On: http://www.articlesnatch.com


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