The Bank of Missouri in St. Robert, Missouri, offers two “Aspire” credit cards, the other being the Aspire Credit Card. The second is the Aspire Cash Back Reward Card. In order to use the card, you will first need to activate your Aspire credit card. Here you will learn how to activate the credit card.
For those with poor credit, there is the Aspire Credit Card, an unsecured card. It’s not a card you can just apply for; you need an invitation (which is why the buttons on their website state “respond to offer” instead of “apply”).
What benefits do the Aspire credit cards hold? The Aspire Credit Card offers many of the same advantages as other unsecured credit cards for people with low credit. The credit limit you receive is unspecified, however, their agreement does mention that they will not accept requests for credit limit increases, so what you get is what you get. A free credit score is one perk they highlight. They provide a VantageScore 3.0 credit score, which is good but also a number that many other services provide for free. This perk is not particularly noteworthy because there are at least six other businesses that provide a free credit score. The product’s one selling point is that it’s an unsecured credit card, allowing you to avoid leaving a sizable security deposit. In that you leave a deposit but never touch it, many secured credit cards function “like” unsecured cards. Your deposit serves as “security” for the balance because it is equal to your maximum. You don’t need to make a deposit while using the Aspire Credit Card. There are no application costs, which is another benefit of the card.
Your Aspire credit cards can be activated in primary 3 ways.
There are numerous guidelines that must be followed, just like with any other card, even for Aspire credit cards.
Fees for Aspire Credit Cards
According to their general cardholder agreement, the Aspire Card has high fees. Expect a first-year annual cost of $49 to $175, followed by a fee of $0 to $49 the following year. Although the reason for the wide range is unclear, I believe it has to do with the cardholder’s creditworthiness.
After the first year, there is also an account maintenance cost of $60 to $159 that is charged monthly at a rate of $5 to $12.50. It costs $25 a year to add a second card for an approved user.
Which other unsecured credit cards does this one compare to?
Another notable one is the Credit One Bank® Platinum Visa® for Rebuilding Credit, which has an annual charge of $99 after the first year of $75. The fees for the Aspire Credit Card may have a lower bottom end but a considerably higher top end. It’s excellent if you only have to spend $49 a year. If you pay $175, the cost for Credit One’s similarly targeted card is more than double that amount. Better Methods to Improve Credit
Although the Aspire Credit Card is excellent for developing credit, there are other options that can be superior or at the very least less expensive. The Chime Credit Builder Credit Card, which utilizes your Chime account, is an option. It is far less expensive than the Aspire Credit Card because there are no fees, and it also records your conduct to all three credit agencies. As an alternative, you can use the Extra Debit Card, which is connected to your current checking account, to figure out how much credit to provide you. Once more, the Aspire Credit Card is more expensive than this card because it has fees.
The cards provided by Bank of Missouri through its Aspire credit card programs are excellent credit development cards and ideal for individuals who are new to creating credit or who need to rebuild their credit. Get an Aspire Credit card right away if you, too, have poor credit or want to improve it.