I applied and received an aspire visa last week. After reading terms and conditions, I noticed 30% apr. I called to cancel the account. They tried to get me to keep it by waiving the 85 dollar annual fee. I said lady no way no how. Keep your card your fee and your 3250 dollar limit. If you had a 3000 dollar balance that adverages out to be 300 dollars a month in intrest. I'm not Donald Trump. These banks are trying to take advantage of people with poor or adverage credit. Why give a poor man a shovel to dig his on grave.
I figure about 70-80 bucks per month in interest if you pay the minimum amount each month. But I may be wrong.... however: "You are learning well, Grasshopper!" Peace, BarryN
Barry is right. The monthly interest on $3000 at 30% would be $75, not $300. That's still high enough to make you think, though. Whatever affection I have for my own Aspire Visa is based on the fact that there is no annual fee. I would never recommend that anyone accept an Aspire card with an $85 annual fee.
I also got an Aspire visa card, and was told upfront, the annual fee (0), and the APR (30.25%). I know the the APR is absurd, but I plan on using this card almost like I would an American Express card, only charge things that you plan on paying off when the bill arrives (the card does have a 25 day grace period, but not on cash advances). If used in that fashion, this could actually be a very convenient card, if managed correctly. Most of us are in the credit rebuilding stage, so this is a good lesson in finance management! best of luck
