I was leery when the letter came. Anthrax? No - here is what the outside of the envelope said: We think you deserve more CREDIT and INFORMATION on how to improve it; Tips to improve your credit You're Pre-Qualified No Deposit Required! I got an offer for a PRIME ASPIRE VISA CARD - 19.75% - not too bad --- hmmmm..... TERMS - OK? APR for Purchases / 19.75%* Other APRs Cash Advances / 19.75% Delinquency APR / 25.75% Variable Rate Info - Your APR may vary. The APR for purchases is determined by adding 11.25% to the Prime Rate but in no event will be less than 19.75%. GRACE PERIOD / 25 days on average Annual and other fees: Annual fee: $75 per year Acct Opening Fee: $29 Acct Maintenance Fee Annualized Amount $78, billed $6.50 per month. Transaction fee for Cash Advances: 5% of the advance - GEEZ 5%???? Late Payment Fee: $35 Over-the-credit-limit fee: $35. INCHARGE BENEFIT! With this InCharge Visa, you get a current credit report each month with your ASPIRE statement. You can see month by month how your score improves with a good payment history! (DO THEY REPORT WITH THIS CARD?? PROBABLY NOT!) Well, I held my breath after all this, looked at MY ACCEPTANCE FORM, and saw they had Pre-qualified me for.....drum roll......hold back the horses.... step to the other side of the trail....hold the phone...$300.00..... It also politely says you must MAKE A PAYMENT to the balance due when you receive the card to ACTIVATE. It also tells me that because of my great status, I do not need to send them my phone bill...LOL! Hmmm...never less than 19.75%... hmmmm....$6.50 every month forcing no grace period because there will never be a zero balance... hmmmm.....$75 yr? AMEX is $55 and I think better. hmmmm....5% for a cash advance fee with no cap? grrrrrrrrr! For ASPIRE, unfortunately, this is prime - nothing threatening me or even mentioning a 41% default rate like on their other cards. arrrrooooooo!!!! Nope I am not going to respond before my Pre-Qualifed offer which expires November 20, 2001- maybe I will get a better offer...if that's possible LOL dogman
I just read the very small print B4 burning this ASPIRE trash offer (I do have a Duraflame log going in the fireplace) - get this: Their fine print says the credit reports are provided by WORTHKNOWING, Inc. Even their language about getting your report is crazy!..... INcharge Reports will be sent every QUARTER; credit reports will be included with every other quarter's INcharge reports (in other words, a credit report will be delivered once every six months). I bet they are sweet and very charming if you are late..... Dogman - and into the fire it goes! Burn ASPIRE INCharge, burn.... muhaha...
Don't count on the terms getting any better just because you did not respond. I have gotten three of these in the last month and everytime I find myself opening it in case Aspire may wake up and offer better terms. Noooo way. The same terms each time they send it. 19.75% for Aspire is impressive from all the garbage I have heard about their rates, but all the fees for the same $300 limit! I think NOT! Geez, they must think they are making us feel priviledged because we don't have to send in a DNA sample...uh I mean phone bill or paycheck stub! So I guess this means we are not the scum of the earth. LOL
dogman...I HAVE AN INSIDE CONNECTION...I can get you a credit line of $10,000!!! Then you can "cash advance" at that LOW FEE of 5%...
