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5 Things to Know About the Aspire Credit Card

The Aspire credit card is more costly to carry over a long term compared with other options.

Written by

Melissa Lambarena

Melissa Lambarena is a senior writer on the credit cards team at NerdWallet. She has enthusiastically covered credit card-related topics for over nine years. Her prior experience includes nine years as a content creator for several publications and websites. Through her work, she aims to help readers extract value from credit cards to meet financial goals like stretching their budget, building credit, traveling to dream destinations and paying off debt. Her articles have been published in The Associated Press, The New York Times, Chicago Tribune, The Washington Post, USA Today and Yahoo Finance, among others. Melissa has a bachelor’s degree in sociology from the University of California, Los Angeles.

Published in

Edited by

Erin Hurd

Erin is a former writer and assigning editor on the NerdWallet Content team who now heads NerdWallet's travel business. She's a credit card and travel rewards expert at NerdWallet, based in Baltimore, Maryland. She has spent nearly two decades showing readers unique ways to maximize their investments and personal finances.

Published Mar 20, 2023

1. There’s a prequalification process

When you receive a mail offer for the Aspire credit card and use the acceptance code to apply on the card's website, you're funneled through a prequalification process that allows you to see your odds of approval. There’s no impact on your credit scores to explore the offers.

2. It’s heavy on the fees

The fees on this card make it expensive to hold for the long term. The pricing may vary depending on eligibility.

Here’s a look at the potential costs:

• An annual fee: This fee ranges from $49 to $175 depending on your creditworthiness; after that, it’s $0 to $49 annually.
• An account maintenance fee: This fee ranges from $60 to $180. You pay it in full the first year, then on a monthly cadence after that.
• Late fees: As is the case with most credit cards, a late fee may apply for a missed payment.
• Authorized user fees: You'll pay $19 to add another user to your account.
• Monthly paper statement fees: You're charged $2 for each month that you receive a paper billing statement.

3. Carrying a balance is expensive

It’s not uncommon for credit cards to have a high interest rate when you have less-than-perfect credit and this card is no exception. The interest rate is sky-high, ranging from 29.99% to 36% (as of November 2024), depending on your creditworthiness.

4. Balance transfer and cash advance options are pricey, too

The Aspire Credit Card offers a balance transfer option, but it’s not worth pursuing to pay down debt. The steep interest rate (32.99% to 36%, depending on creditworthiness, as of this writing) and the 3% fee, aren't a debt-busting combination.

Cash advances are notoriously expensive on credit cards, including this one. The APR for cash advances ranges from 32.99% to 36% depending on your creditworthiness (as of this writing), and there’s either a fee of $10 or 5% of the amount of each cash advance, whichever is greater.

5. Think twice about occasional deferred interest offers

Occasionally, the Aspire Credit Card might offer deferred interest promotions, but it’s important to understand the terms before accepting one. If you fail to pay off the entire balance on time, you'll be charged all the interest accrued throughout the promotional period.