Aspire Credit Card: Why is it the Best Credit Score Rebuilder?

A poor credit score doesn’t mean the end of the world, you can rebuild by applying for and consolidating all debt on your Aspire credit card. Here is why it is the best credit score rebuilder card!

The Bank of Missouri Aspire credit card is a credit card that is targeted towards consumers in the credit market, thus embracing beginners in the credit industry.

It has different features that can contribute to making it appealing to those who need a credit card to build credit or fix credit or those who are looking for a simple credit card with reasonable rewards.

As for the Aspire payments, these transactions are credited to the CR. Unfortunately for you, the credit reporting is done on a monthly basis only.

This is because your payment history contributes 35% of your credit score, and therefore consistent payments to your Aspire card (and all loans) must be made.

Aspire Credit Card Features

To further explain why it is termed the best credit score rebuilder card, the updated features play significant roles, including:

1. Credit Reporting

Thus, the Aspire Credit Card is affiliated with all three credit bureaus—Equifax, Experian, and TransUnion—thus letting the card’s users build or remediate their credit history with proper usage.

2. Credit Limit

It has a credit limit when issued to the cardholders; this credit limit can be up and down with time depending on the behavior of the cardholders financially.

3. Rewards Program

The Aspire homepage has some versions that give back points for purchases that one can make or even cash back that can be used to gain some privileges.

4. No Security Deposit

The Aspire Credit Card does not require applicants to deposit cash as collateral, which makes the card more appealing to more people than secured credit cards.

5. Online Account Management

It is convenient for cardholders to sign into their account and see the records of transactions made or even paying their bills and tracking their expenditure.

6. Customizable Alerts

To ensure that the users do not miss any activity in their account, payment, or the due date of a payment, the card provides users with an alert of their choice.

Benefits of the Aspire Credit Card

Apart from the updated features that further assist cardholders in enjoying this optimal credit score rebuilder card, you also enjoy multiple benefits, like:

1. Credit Building

As the card is connected to all three credit bureaus, the Aspire Credit Card can assist users who want to build or rebuild their credit scores if they ensure responsible use of the card.

2. Flexible Credit Limit

Flexible credit limits mean cardholders can facilitate more amounts for huge expenditures at times or maintain a healthy credit utilization ratio for a healthy credit score.

3. Accessibility

Unlike the Aspire Credit Card, there is no need for security, which could mean that one can’t afford a secured card.

4. Rewards Program

As it is with any card, users can acquire consequent rewards on their purchases, which is an added advantage to everyday spending.

5. Convenient Account Management

A user-friendly online portal and additional options for changing the alerts’ settings allow cardholders to control their account and financial activity.

6. Fraud Protection

It also has regular anti-fraud measures, so the cardholders can relax knowing that their accounts are safe if fraudulent charges are made.

READ ALSO:

Disadvantages of the Credit Card

while enjoying the chains of benefits associated with this card, you should consider the several financial pitfalls to avoid issues

1. Annual Fee

As for the additional costs, the Aspire Credit Card may be charged with an annual fee, the amount of which depends upon the credit history of the client.

Due to this, it accumulates over time and can greatly reduce the worth of the card to the cardholder.

2. High APR

It often comes with a very high annual percentage rate, which can lead to astronomical interest rates if the balance is not paid in full every month.

3. Limited Rewards Program

There could always be features with the card that come with some kind of reward, but it may not be as extensive or as pointed as those offered by other credit cards, especially those for the so called ‘good’ credit.

4. Fees and Charges

Other than the annual fee, there may be other charges that are incurred in using the card including the late payment fees, fees charged on foreign transactions and cash advances.

5. Potential for Overspending

Like any credit card, there is always the potential for misuse, and people are intent on charging items that they are unable to pay for using this card.

5 Alternative Credit Cards Suggestions

As far as we know, the Aspire Credit Card will not favor everyone. Here are some credit card options you can try out.

1. Capital One Platinum Credit Card

This credit card specifically targets fair credit customers and does not attract an annual fee. It also has the flexibility of increasing the credit limit once the client makes the first five monthly payments on time.

2. Discover It Secured Credit Card

For those that can make a security deposit of at least $200, the Discover It Secured credit card has cash rewards of 2% at gas stations and restaurants on the first $1000 spent per quarter.

Also, there is an additional 1% on all other purchases, while cardholders can get an unsecured version of the card after responsible usage.

3. Credit One Bank Platinum Visa for Rebuilding Credit

The Credit One card is a beginner card and is designed for people with a poor credit history; it does provide cash back and is connected with yearly fee.

4. OpenSky Secured Visa Credit Card

This secured credit card does NOT conduct a credit check to approve the account and is useful when rebuilding or establishing credit with no worry of the credit score affecting the approval of the card.

5. Petal 2 “Cash Back, No Fees” Visa Credit Card

Alternatively, this Petal 2 card has a sign-up bonus of 1% cash back on all shopping immediately up to $1.

That contains 5% cash back for any purchase made after 12 on-time monthly payments and has no annual fee, making it the perfect card for consumers with fair to good credit.

READ ALSO:

Selected Users of the Aspire Credit Card?

While the Aspire Credit Card is good for everyone, it is most ideal for:

1. Credit Builders

Those with poor credit histories or individuals who are in the process of establishing a fresh credit history, will find this card’s activity beneficial, since card activities are reported to three major credit bureaus.

2. Those Without Savings for a Deposit

By the way, for consumers who cannot fully pay the security deposit as required on secured credit cards, there is the Aspire credit card which is of unsecured type.

3. Moderate Spenders

Therefore, users who plan on having small balances and users with the ability to pay for all the charges on the card in a month to avoid high charges, among other things, will not be subjected to.

4. People Seeking Simple Rewards

People who want to get some perks on shopping, despite the fact that this is not very rich, can be interested in this card.

5. Consumers Who Value Online Management

One advantage of having an account is control and access to managerial features such as online features and notifications.

Our Thoughts

The Aspire Credit Card provides an important chance for people, who want to have or rebuild credit without a deposit.

Some of its functions, including a credit reporting feature and possible subsequent credit limit raises, help the user reach a positive credit history over time.

Nevertheless, in the process of attracting the target audience, it is necessary to take into account the high APR and the presence of some fees associated with the use of the card.

For those users who have no problem controlling their expenses and make sure not to overdue the utilization, rewards are relatively low, and it offers a stepping stone to better credit.

There are other similar products that can also be beneficial in cases where the situation or credit goals are considerably different: Capital One Platinum Credit Card, Discover It Secured Credit Card, as well as Petal 2 Visa.

Overall, the Aspire Credit Card aims most at the credit builder audience, who are willing to look after their credit card usage responsibly.

Leave your thoughts about this post in the comments section, and don’t forget to share it with the people you care about if you find it valuable.