Call 1-800-254-4100 Consumer Credit Counseling Service
Our Promise To You: Consumer Credit Counseling Service will help you get out of debt with your Aspire credit card totally for free. All you have to do is tell us your situation, ask us your question and consumer credit counseling service will help you find a honest and truthful solution to resolve your Aspire credit card debt situation. We Are Here For You!
Aspire Credit Card
The Worst Credit Card Ever
According to the Motley Fool website the Aspire VISA has as many ways to separate you from your money as do most Vegas card sharks. Here's a brief list.
Annual fees. The Aspire VISA charges $150 a year for the right to extend you credit. Even among those cards designed for those who are seeking to rebuild their credit history, as Aspire credit card claims to be, this VISA falls far short. For example, the Orchard bank 2% cash back MasterCard, a top choice from the editors of researcher Cardratings, charges those with poor credit no more than $59 annually.
Monthly fees. But there's more. Aspire credit card also dings its customers $6.50 monthly for the right to have a card. Nice. Why not raid the fridge and kick my cat while you're at it?
Application fee. And finally, there's the cruelest charge: $29 just to open the account.
Debt without any collateral that can be taken back if you don?t pay.
Examples: credit cards, dept. store cards, personal loans, cell phone bills, legal bills, medical bills, credit lines, health club memberships.
No mortgages, auto loans, etc.
Step 1: A debt consultant will contact you over the phone for a free counseling session. He'll review your financial situation and suggest the right solution to your debt problems.
Step 2: With your approval, the consultant will start contacting your creditors for a negotiation. The purpose here is to reduce your outstanding debt amount or lower interest rates and eliminate late fees/penalty charges. The consultant will also help you to avoid harassing calls from creditors and collection agencies.
Step 3: The consultant will provide you with budgeting tips so as to help you manage your money better. He'll also guide you on how to rebuild your credit and raise your credit score.
What, exactly, do all these fees buy you? A lower average interest rate, perhaps? Hardly. Aspire credit card terms and conditions set the rate at 19.75% as of December 2005. But that may be cheap. Taken from the terms and conditions for the Aspire credit card:
"Your APR may vary. The APR for Purchases is determined by adding 12.50% to the Prime Rate, but in no event will be less than 19.50% ... The Prime Rate used to determine the applicable APR is the highest 'Prime Rate' published in the 'Money Rates' section of The Wall Street Journal on the 25th day (or if not published on the 25th, then on the date of the next publication following the 25th) of any of the three calendar months immediately preceding the month in which the Billing Cycle begins."
More Bad News for Aspire Credit Card
GREENWOOD v. COMPUCREDIT CORPORATION, No. 09-15906.
Wanda GREENWOOD; Ladelle Hatfield; Deborah McCleese, on behalf of themselves and other similarly situated, Plaintiffs-Appellees, v. COMPUCREDIT CORPORATION and Columbus Bank and Trust, jointly and individually, Defendants-Appellants.
CompuCredit marketed a subprime credit card under the brand name Aspire Visa to consumers with low or weak credit scores through massive direct-mail solicitations and the internet.2 CompuCredit marketed the card and the cards were issued by Columbus Bank and Trust (collectively “Credit Providers”).
Greenwood and her fellow plaintiffs (“Consumers”) allege CompuCredit marketed the Aspire credit card by representing to consumers it could be used to “rebuild your credit,” “rebuild poor credit,” and “improve your credit rating.” Consumers allege the promotional materials noted there “was no deposit required,” and that consumers would immediately receive $300 in available credit when they received the Aspire credit card. In fact, they allege, Credit Providers charged a $29 finance charge, a monthly $6.50 account maintenance fee, and a $150 annual fee, assessed immediately against the $300 limit before the consumer received the card. In aggregate, the Aspire credit card had $257 in fees the first year. Although the promotional material mentioned the fees, it did so in small print amidst other information in the advertisement, and not in proximity to its representations that no deposit was required. Consumers each applied for and received an Aspire credit card, and were charged these fees. Consumers allege the Credit Providers' actions constitute several violations of the CROA and of California's Unfair Competition Law.
Before receiving the Aspire Visa credit card, each Consumer received a mailing entitled “Pre-Approved Acceptance Certificate.” The Acceptance Certificate includes the following paragraph:
By signing, I request an Aspire Visa card and ask that an account be opened for me. I certify that everything I have stated in the Acceptance Certificate is true and accurate to the best of my knowledge. I have read and agree to the be bound by the “Summary of Credit Terms” and “Terms of Offer” printed on the enclosed insert, which insert includes a discussion of arbitration applicable to my account, and is incorporated here by reference.
One Consumer mailed in her acceptance, one applied over the internet, and the other applied over the phone.
FTC Notice Beginning December 1, 2009, the U.S. Federal Trade Commission (FTC) began enforcing new rules regarding transparency in advertising relations between product endorsers, advertisers, affiliate marketers, product reviewers, bloggers, celebrities, and other marketers, and the general public.
Opinions on this blog/website are our own or others we have designated as contributing authors. No one else is responsible for the content. We have not received any compensation for writing posts, articles, reviews, or other content, and we have no material connection to the brands or products mentioned, except as noted below. We do not accept free products from manufacturers or advertisers or free books from writers and publishers in exchange for a review or an article. All of the product reviews on this blog are influenced solely by the performance of the product itself. We do not receive any kind of monetary compensation for content or reviews including cash or free products.
Affiliate Notice We maintain an affiliate/publisher/republisher relationship with hundreds of companies. This page may contain “affiliate links” to one or more of these companies.
An affiliate link is a special URL to the affiliate merchant which lets him/her know you reached his/her site/sales page through my recommendation, text link, or banner ad.
If you follow an affiliate link from this website and purchase a product or service, or complete a lead form, we hope to be paid a commission from the affiliate or CPA merchant. Affiliate links may be textual or banner or both. This site may contain in-context textual ads or banner ads, such as from Google, or others over which we have no control over the content. We may or may not have an affiliate/business relationship with the companies advertising on those services. If you click on one of these links, we hope to be paid a small sum for sending you to that merchant’s site. Otherwise, we would have no reason to give Google and others space on this website.You should consult the respective privacy policies of these third-party ad servers for more detailed information on their practices as well as for instructions about how to opt-out of certain practices. We cannot control the activities of other advertisers or web sites. Unless otherwise stated, the website guest or visitor should assume that any link to a third-party vendor is a paid link, and that the author or website owner may receive compensation for that link.
Legal Information Is Not Legal Advice This site provides information about the law designed to help users safely cope with their own legal needs. But legal information is not the same as legal advice -- the application of law to an individual's specific circumstances. Although we go to great lengths to make sure our information is accurate and useful, we recommend you consult a lawyer if you want professional assurance that our information, and your interpretation of it, is appropriate to your particular situation.
Consumer Credit Counseling Information, Debt Management Plan Information, Debt Settlement Plan information, Credit Counseling, Credit Score, Consumer Credit Counseling Service, CCCS, Bill Consolidation, Credit Repair, and Debt Consolidation is not advice, and we recommend you consult a licensed credit counseling agency, debt settlement attorney, and/or licensed debt management plan administrator in your state if you want professional assurance that our information, and your interpretation of it, is appropriate to your particular situation.
