Published On : June 7, 2022 by: Miti Sharma/Category(s) : Banking & Finance
How can you activate your Aspire credit card? Well, first, Aspire issues you a digital credit card (an online extension of a physical credit card) upon successful registration and credit approval, which you can use for online transactions. Your transaction will begin as soon as you click ‘Scan and Pay’ and complete the required procedures, which begin with scanning the appropriate QR code. You will need to activate your Aspire credit card. Here are some of the benefits of Aspire credit card that you would like to know-
Applying for the Aspire Card As part of a pre-approval screening procedure
Aspire will give you an invitation to apply for its card. This implies that Aspire has looked at your basic credit information through a soft credit pull and determined that you meet their requirements. When you receive this Aspire credit card pre-approval letter in the mail, check for a 14-digit acceptance code in bold near the bottom of the letter.
Go to the Aspire website and click the “Respond to Offer” button to be sent to a page where you can input and submit your acceptance code in a tiny form. This will bring up the application, where you’ll need to fill in any requested personal information, confirm the card’s terms, then finish and submit the form. At the end of the procedure, you’ll see a confirmation message, and your card should arrive within 10 business days.
You can still apply if you tossed away or misplaced the letter because Aspire provides a lookup feature on its website. Instead of typing your acceptance code into the area, check for a link next to “Can’t find your acceptance code?” below. You can then access the application by entering your zip code, last name, and the last four digits of your Social Security number, agreeing to the terms and conditions, and then confirming that you want to submit the application.
Also read: Activate Netspend Card without SSN
Fees for Aspire Credit Cards
According to the Aspire Card’s generic cardholder agreement, the fees are considerable. In the first year, expect to pay between $49 and $175, then $0 to $49 the following year. It’s unclear why there’s such a wide range, but I believe it has something to do with the cardholder’s creditworthiness.
There is also a $60 to $159 annual account maintenance cost, which is payable monthly at $5 to $12.50 each month after the first year. It costs $25 per year to add a second card for an approved user. In comparison to other unsecured credit cards, how does this pile up?
Another popular option is the Credit One Bank® Platinum Visa® for Rebuilding Credit, which has an annual charge of $75 for the first year and $99 after that. The costs for the Aspire Credit Card may be cheaper at the bottom, but they are substantially more towards the top. That’s fantastic if you’re just spending $49 each year. If you pay $175, you’re paying more than twice the price of Credit One’s similarly targeted card. Better Ways to Build Credit
Although the Aspire Credit Card is excellent for establishing credit, there are other options that may be better, or at the very least less expensive.
1. On the same device where you’re using the Aspire app, a mobile number is registered under your legal name.
2. A valid Aadhar number is required.
3. The age requirement is that you are over the age of eighteen.
Yes, this is one of the requirements for using the Aspire service. Your UPI ID is used by Aspire to complete the ‘Scan and Pay’ process and send your payment to the merchant of your choice. This technique requires the use of a bank account.
Aspire also keeps track of your bank account information in case you need to repay the credit.
There may be nothing officially wrong with the information you’ve provided; nonetheless, they have had difficulties tracking all of the information back to its source. Meanwhile, please know that they are working hard to have your application approved as quickly as possible. They will contact you directly after they have completed a few checks on their end.
This will pose a difficulty with the verification procedure because Aspire requires that the mobile number used to create your account be registered under your legal name as it appears on your PAN card.
Until Aspire manually checks the inconsistency, your account setup and credit approval will be marked as ‘Under Review.’ Within 24 hours, a representative will contact you. You’ll need to supply documentation to back up your claims, and then we’ll give your credit application a thumbs up!
Aspire’s repayment method is broken down into four payments for your convenience. You will be able to return the amount borrowed from your credit line in four installments. In this situation, please keep in mind that your monthly installment is due on the 8th of each month.
You have the option of repaying the credited amount before the end of the last installment period. In that instance, you can encounter the following scenarios:
1. Pay in full at once – This will save you money on the remaining three months’ monthly expenses.
2. Split the payment into two parts- For the next two months, you pay the monthly payments. Pay in three installments: For the next three months, you will pay the monthly costs.
No. For the months you haven’t paid the designated installment, the monthly amount is charged as a usage fee. You are excused from paying the usage fee for the next two months if you have repaid the entire credit amount in the first month. The price is only paid for the first month.
If you pay the first installment on time but fail to pay the second, you will have already paid the first month’s usage cost and will be required to pay the second month’s usage fee. You will also be responsible for paying the second-month late fee. You will have paid the use cost for the first two months and will be paying the usage fee for the third month if you pay the first two installments on time but fail to pay the third installment. In addition, for the third month only, you will be charged a late fee.