Aspire Credit Cards

Jeff Staub, Knowledge Level: All Levels, Keywords: aspire, credit cards

 Aspire Credit cards allow individuals and business with less than stellar credit to rebuild that trust with the various credit reporting agencies so as to improve one’s overall credit score.    The Aspire Credit card was the brainchild of a company called CompuCredit in an effort to offer a line of credit to those who normally do not qualify with other credit card companies.  The main business model is to focus on low credit score applicants and those recovering from bankruptcies and similar credit incidents.

One important thing to be aware of are the high interest rates associated with the Aspire Credit cards.  There is always a catch!  These rates can be really really high in comparison to other credit card offerings out there with Aspire credit cards tipping the scales at a 20% interest rate!  So it is highly advisable to pay your bills on time with these cards meaning you should have a financial plan in place for your estimated spending.

Another issue to be cautious of are the fees associated with the Aspire credit cards.  First off there is a $30 sign up/account set-up charge, Secondly there is a $150 per year charge just to own the thing even if you don’t use it, and thirdly you have to pay a $6.50 per month maintenance fee.  All of this on top of any interest rates you may have for the month.  So do not enter into using a card like this lightly, you need to stay on top of it.

In today’s world not having a credit card can be a major inconvenience, couple this with a bad credit score preventing you from getting one of the mainstream credit cards, the Aspire credit card may be your only option.  If you find yourself in this position use the card wisely and make sure to stay below the maximum spending limit and always pay your bill on time otherwise you may find yourself in an even greater credit predicament.

Jeff is an entrepreneur and financial services expert.. Article on aspire, credit cards by Jeff Staub

Tags: [cached]: high interest rates, card offerings, tipping the scales, credit score, maintenance fee, credit reporting agencies, predicament, bankruptcies, brainchild, business model, credit cards, inconvenience, interest rate, mainstream, bad credit, nbsp, credit card companies,

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