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Aspire Credit Card Review: Fix or Build Your Credit History

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Aspire credit card review

As time passes, finances become more complicated and options for credit cards become much more varied. This often happens in an environment that moves as fast and is rich in competition as the credit card industry.

While available options evolve, it is possible you might miss out on a deal that is good for you. Scratch that, actually it is almost guaranteed you won’t always be able to catch the best offers.

This is why here in Turbowallet, we look to provide you with comprehensive reviews for cards you should check out. We believe you should be aware of options like the Aspire credit card. As such, we have come up with this Aspire credit card review to ensure you know all about it.

Who knows? You might find that this credit card is the right fit for you.

This is because the strategy Aspire planned out with this product sets it apart from other cards.

We are sure that if this card is a good fit for you, it can be much more useful than some of the biggest players in the credit card game. Keep on reading and find out what are some of this card’s biggest pros and cons. Let’s get started!

What Is the Aspire Credit Card?

The Aspire credit card is a great entry-level credit card with a nice rewards program. This card is really good for those who need to build up their credit score. Some users might find its fees more expensive than other cards, especially if those cards have low fee ranges.

This card is unsecured, which means you won’t need to provide any collateral. It is also meant to be easy to qualify for, allowing those with no or bad credit history to start building credit.

With great financial features, good rewards, and an incredible welcome bonus, the Aspire credit card is totally worth keeping an eye out for.

What Are The Financial Considerations of the Aspire Credit Card?

Whether you have a clean credit score or you made mistakes in the past, it is vital to have your finances in order. This implies planning ahead, spending responsibly, and being well informed.

In the case of credit cards, it is important to know what kind of charges you will be facing and when… hence the importance of this information. However, these are things you can learn by reading some of our money management articles.  

In this section of our Aspire credit card, we will be taking a look at what to expect of this card in terms of fees, interest, and more. Take some time to understand how those fees work in the Aspire Credit Card in order to add them to your financial plan. While it is probably quite easy to include this card in your budget planning, you still need to do your homework.

Let’s take a look at the financial aspects of the Aspire credit card.

What Annual Percentage Rates Does The Aspire Credit Card Charge?

The APR of the Aspire credit card is 29.99%. While rather high in comparison to other cards, it is understandable given the type of service the company offers.

It is best to always pay your statements in full and avoid incurring these fees. This is ideal in order to grow your credit score with time. Better scores improve your credit card options and, in many cases, help cut the fees charged by card issuers. After all, that is what this card is all about!

What Kind of Annual Fees Does The Aspire Credit Card Bill?

In the first year, you will have to make a one-time payment as a membership fee, which ranges from $85 to $175. If you ask us, it does not sound like much considering this is an unsecured card requiring $0 for a deposit fee.

However, it is higher than the annual fees charged by some credit cards…The opposite is also true. Take into account that many credit cards have annual fees above $95, and some can even reach $500.

After the first year of owning this card, the fee scheme will change to having both monthly and yearly charges.

The yearly charges will change to $29-$49 accompanied by $7.25-$12.50 monthly payments. This sounds confusing at first, but it is in fact pretty straightforward and useful, as yearly fees can become quite bulky with other cards.

With Aspire’s model, you don’t need to set aside a big pile of cash while waiting for the yearly fees. Spreading payments in this way will give you a bit more financial freedom.

What Other Charges Does The Aspire Credit Card Have?

The Aspire Credit Card is not designed for going on vacations. That shows in foreign transaction fees which are slightly higher than the average 3% of operations. Still, if you need it abroad, you can be confident it will work, as it is part of the MasterCard network. This guarantees you can use it practically anywhere around the world.

If you fail to pay the minimum amount, you will be charged a late fee, which is a standard practice among credit card companies. These late fees can reach up to $40 in Aspire Credit Cards.

If you use this card for cash advances, you will have to pay the corresponding fees. These fees are usually quite high, and APRs for these operations also surpass regular APRs. In the case of Aspire Credit Card, cash advance fees will be either $5 or 5%, whichever is greater.

What Features Does The Aspire Credit Card Offer?

If you get excited after reading this Aspire credit card review and decide to apply for it once it is available, you will receive great credit. You will likely be offered a credit limit between $350 and $1000. The highest credit lines are generous for this card, considering it does not ask for a security deposit and can be applied for by those with no credit score… Or even a bad one!

Low Credit Score Acceptance

One great feature is that it accepts a wide range of credit scores. Maybe you are young, and this is one of your first credit cards.

Maybe for some reason, you had issues with payments in the past and your score took a bit of a blow. Hey, it can happen to any of us because of mistakes in our finances, unexpected expenses, or maybe even both. In any case, most of us have been there at some point or another.

The fact is that this card can be a powerful tool if your objective is to get that score growing.

Unsecured Card

While credit cards which accept lower credit scores are not that hard to come by, this one runs with an advantage over the competition. That advantage lies in combining that feature with being an unsecured card. We already had mentioned this earlier in this Aspire credit card review, but we need to elaborate.

While “Unsecured” actually sounds like something you wouldn’t like in a credit card, the opposite is actually true. Unsecured credit cards present you with the advantage of not having to make a security deposit in order to start using them. It is rather rare to find unsecured credit cards which accept clients with credit scores located in the lower range.

Considering this, a lot of people can work with this card who would otherwise need to gather the money to make a big deposit. Needless to say, this deposit can be an issue if you are struggling financially.

Security Features

This card is part of the MasterCard network. It is a chip-and-signature card, meaning in terms of security it stands its ground against any other card. This technology makes it easier than ever to use cards and removes the limitations and issues that magnetic cards are known for.

Guarda logo

An additional detail worth mentioning is that the Aspire Credit Card carries $0 fraud liability. What this means is that if the card is lost or stolen, you will not be charged with expenses done by unauthorized users. Of course, this is if you responsibly inform the authorities.

What Rewards Does the Aspire Credit Card Offer?

Aspire offers a nice 3% cashback reward on some categories like gas, grocery, and other payments. It also has a 1% cashback reward on other eligible products. This makes the Aspire credit card pretty competitive when it comes to cashback rates.

These cashback rewards can be a great deal, and depending on how much you spend, these might even get you enough savings to pay for a big portion of the fees. When you combine this with the other features, it is a great way for those just starting their financial journey. If you are one of them, you really should add it to your arsenal!

Is The Aspire Credit Card Right for You?

While some of the characteristics of this card can seem inconvenient, we know for sure that an offer like this is a good option for some users. APRs often get all of the attention when we study a credit card in detail, but they may be the least important factor.

Rewards, fees, and benefits are what we should observe if we are certain we will always pay our statements fully and before the due date.

In particular, this card is probably best for you if your credit score is low given that your options are probably reduced to secured credit cards. As a tool to avoid those bulky deposits and improve your credit score, this card can be great.

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