Pre-Approval Call From Aspire!

Discussion in 'Credit Talk' started by BarryN - C, Aug 9, 2000.

  1. BarryN - C

    BarryN - C Guest

    I got a call from Aspire today. They said that I am preapproved for the Aspire Diamond Visa Card, with a limit up to 3000. I asked her what the APR was and she said 35% for starters.

    How is that possible? She was quick to point our that it was an annual, not monthly rate, and that I had a 25 day grace period. Thanks for the break!

    I do not aspire to have their card, and wish something could be done about the ussary rates being levied.


  2. Steven Z

    Steven Z Guest

    RE: Pre-Approval USURY Call Fr

    So, basically they've jacked up their rates 8% from 27% (guess they felt the prime rates were getting too close :)) and added a measly $300 limit.

    Of course one cannot forget that they still don't report to the CRA's.

    As for anybody who decides to take this better not coming crying around here afterwards..
  3. Don

    Don Well-Known Member

    RE: Pre-Approval Call From Asp

    They won't stop calling us...the phrase "please take us off your calling list" must be greek to them..
  4. RichGuy

    RichGuy Guest

    A Slight Correction

    I got a pre-approved offer for the Aspire Visa Gold yesterday, and it contained disclosures on three different Aspire Visas.

    The Aspire Visa Classic has an APR of 35%.
    The Aspire "Diamond Visa" has an APR of 30%.
    The Aspire Visa Gold has an APR of only 28%!

    This has to be the worst Gold Card rate in existence, at least for Visas. Also, the penalty rate for the Visa Classic was 41%, again some sort of record for usury. It could well have crossed the boundary into "ussary."

    Notice that the "Diamond Visa" has an APR of 30% rather than 35%. The Aspire products are slowly being differentiated from one another. There is even an Aspire Platinum Visa, at a rate unknown to me, perhaps some extraordinary teaser rate like 25%.

    Strength and Honor,
  5. mick

    mick Guest

    RE: A Slight Correction

    Don't even bother with this credit card.
    Its all ready a joke that 35% interest rate thats just way to high for a credit card. I applied a year and a half ago and they approved me with $1750 credit limit and a 23% interest rate. Still that is too high and what else is interesting that the customer service reps also can access Orchard bank credit cards. I also had a credit card that was bought by orchard bank the original creditor was Stutsman County State Bank. That really blew me away.
    Also folks THEY DO NOT REPORT TO THE CREDIT BUREAUS. Don't let them rip you off.
    Good Luck
  6. RichGuy

    RichGuy Guest

    A Weak Defense of Aspire

    I should point out that while the Aspire "Diamond Visa" at 30% (not 35% as stated) is no bargain, it could still be better than some alternatives:

    At balances of less than $1000, the annual costs of the Aspire card are actually less than those of the Providian Visa Classic. The annual fee of $59 on the Providian card outweighs the advantage of its lower APR of 24%.

    At balances of less than about $320, the annual costs of the Aspire card are actually less than those of the Capital One Visa Classic. The annual fee of $29 on the Capital One card outweighs the advantage of its lower APR of 21%.

    We should also consider whether there are circumstances in which you would not want a card reported to the CRA's. To have credit available for emergencies without affecting your reported ratio of available credit to income could be an advantage.

    Of course, these points depend on the cardholder either using the Aspire card to less than its maximum credit limit or paying off Aspire balances quickly. Paying interest forever on a maxed-out Aspire "Diamond Visa" would be the closest thing to Credit Hell. While Purgatory comes to an end at some point in the future, Hell lasts forever.
  7. mick

    mick Guest

    RE: A Weak Defense of Aspire

    Richguy is right
    A> If you don't care of the card is not reported to the credit bureaus.

    B> No annual fee.

    C> You can always lower your APR after a period of time to an acceptable level. Then after you can carry a balance on the account.
  8. dogman

    dogman Well-Known Member

    41% ??????

  9. JP

    JP Guest

    RE: Pre-Approval Call From Asp

    Wow, did you ask her if they break your legs after the first late payment, LOL!

  10. dogman

    dogman Well-Known Member

    ASPIRE Lake of Fire Bus Trip -

    Do they give discounts on those bus trips that go by the CCB Lake of Fire?

    Len - any comment?
  11. Doris K.

    Doris K. Well-Known Member

    RE: Pre-Approval Call From Asp

    When I first began to establish my own credit, I had an Aspire card. My interest rate was 27% then. While that interest rate was down-right robbery, I paid full balance every month, so it turned out to be a great card for me to have. The Aspire customer service reps were great, and my payments were posted promptly. Other than the high APR and failure to report to the CRAs, I was not treated as a sub-prime customer. There were no annual, monthly, or processing fees.

    While Aspire didn't do much to advance my credit rating, it was peace of mind in case of an all-out emergency. At the time I got it, I was going through a divorce after 46 years of marriage, and my settlement didn't come fast. The other credit cards I had then, offered only small credit limits. Aspire started me out with $1750.

    All in all, I never had a single problem with them, but I wouldn't dare carry a high balance with them.

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