The End of the Aspire Visa Credit Card (thank god)

I’ve had an Aspire Visa card for about 3 years now, and today, finally, I got a letter stating that they were discontinuing Aspire Visa. During my time with this awful credit card company, I’ve never made a late payment, and my limits were regularly increased.

I called to verify today that the entire Aspire program was being shut down (not just my card).

Here is the letter I received today:

NOTICE OF TERMINATION OF CARD PROGRAM

Dear _____________:
We must regretfully inform you that we are discontinuing your Aspire Visa Program. Consequently, we have closed your account to new transactions and may refuse to authorize any new transactions effective December 2, 2008. Further, effective immediately, your credit line is $x.xx.

Please note that even though your account will be closed to new transactions, you will remain obligated to pay us at least the minimum required payment on your existing balances and any new balances in a timely manner. If you have a balance, you will continue to receive monthly Aspire Visa billing statements.

Please tell your utility companies, Internet providers and other retailers or merchants to stpo any automatic charges to your account immediately. You will remain liable for any such charges that may be posted to your account. We apologize for any invoicince this may cause. If you have any questions, please call us at 1-800-820-3054. Thank you for your attention to this important matter.

Sincerely,
Aspire Visa

5 comments ↓

#1 AspireBailout on 11.26.08 at 5:51 am

I received the same letter on Saturday Nov 22, 2008. Did you know that the FTC sued CompuCredit (owns Aspire)? I smell another financial institution going under. The economy is in the toilet and the next administration has their hands full. The outgoing President should just pack up and leave now - the damage is insurmountable. No More Bailouts please! Taxpayers will not be able to afford basic necessities when it’s all said and done.

I’m going to call the authorities to find out what my rights are. Aspire is being closed-mouth because they know that they are in for some big losses here.

This is disheartening.

#2 Jane on 12.12.08 at 7:41 pm

I too have received the notice that I no longer have an account with ASPIRE VISA…I received the identical letter as above. Well if they would lower the rates , they might not be going under..Yes under.. I do believe IF THAT’S GOING ON THEY have to let the public know of this..I now pay OVER 29.99% each month, I have talked to whom ever they have working for them, but it’s sure isn’t ANY ENGLISH SPEAKING PERSON.. which is another slap in the face , while being lied to and to be put off until we are left wandering what the hell just happen again . FED UP !

#3 Ronnie on 12.29.08 at 1:56 pm

The same thing happened to me. But what really kills me is that on my December 2008 bill they have charged me the annual fee for next year! We all need to contact the FDIC and attorney general and FTC. They FTC has filed a complaint against them.

#4 Jane on 09.09.09 at 1:42 pm

I’m so sick and tired of trying to deal with these people over the phone, and yes my account was also closed..I have called at least 5 times trying to get these people to lower the rates, but all I get is no that it can’t be chanced..That’s Bull S— ,I figured out over the last 9 months paying 74.00 is minimum dollars a month at 29.99% of a 2000.00 bill that only 139.00 has been paid off my account (after 9 MONTH )..if they don’t lower my interest rates I will only pay what I can afford, I thinking about 5.00 a month sounds about right..FED UP

#5 Joyce O'Daniels on 09.30.09 at 12:23 pm

Aspire Visa seized my vehicle over a $500 credit card limit that when I received it it was only $179 credit on it. They have lied and said they served me a summons to appear in court but I never received any document to appear in court. They now have my vehicle and wants $1900 for me to retreive it. I now have a Default judgement against them and I will go in front of a judge on Friday to try and retreive my vehicle back. What a pain this company had been to me. I hoping for a good judgement turnout.

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