Mogul of Pineapples
- Centurion Member
- Posts: 1271
- Joined: Sun Jun 01, 2008 11:32 pm
- Location: Smogland
Wow. I tried to pull up more info about this on the search engines but it doesn't appear to be up yet. Do you know if this is effective immediately? If not, say it's effective November 30th, I'd say anyone that has a credit card from them should close it themselves, that way it would be closed at the request of the user instead.
Besides these negatives you pointed out that will hurt the cardholders, I would say it's a good thing Aspire is going under. I've heard horror stories about them in the past and when I tried to pull this story up on the search engine I came across quite a few more. If you type in "aspire credit card" almost all the results are negative reviews, scam reports, complaints, etc.
A few that I found really shocking:
1. They sometimes charged a $15 fee to users for payed online.
2. up to $179 in fees to activate the card
3. Then there were a few judgements/court orders against them from the FTC and State's attorney generals. They had to pay $11 million in damages to NY consumers alone for their billing practices in 2006.
A company like that definitely doesn't deserve to be in business.
Do you have a card with them? If you do I wonder if it's too late or not to transfer the balance to another card (to reduce that credit utilization effect). If they have that debt "locked" in with them there has to be something wrong with locking customers in at a interest rate they never agreed to on a permanent basis. I'm not a huge fan of B of A but I know when you do a balance transfer with them they deposit the money directly into your checking and it's yours to do with what you want. Doing something like this may be a good way to pay off that balance if they're trying to lock it in and not let it be formally transferred.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.
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