What the Aspire Card Offers and Who It's Built For
The Aspire Card is a secured credit card issued by Comenity Bank. You deposit cash as collateral, and that deposit becomes your credit limit — typically between $250 and $2,500. You then use the card like any other credit card, and your payment history gets reported to all three credit bureaus. The card charges an annual fee of $99, which is higher than many competitors in this category.
Aspire markets itself to people rebuilding credit after missed payments, collections, or bankruptcy. The card does report to the bureaus, which means on-time payments can help your score move upward. But the $99 annual fee eats into the value proposition, especially if you're comparing it to secured cards that charge $0 to $39 per year.
The card also comes with a cash advance feature — you can withdraw money against your credit limit at ATMs — but cash advances carry a 3% fee and a higher interest rate than purchases. This is standard across secured cards, but it's worth knowing you're paying extra if you use it.
Key Takeaways
- Aspire requires a cash deposit of $250 to $2,500 that becomes your credit limit, and charges a $99 annual fee that is higher than most secured card competitors.
- The card reports to all three credit bureaus, so consistent on-time payments can help rebuild your credit score over time.
- Interest rates on purchases are high (currently around 20% APR), which is typical for secured cards but means carrying a balance costs significantly more than unsecured cards.
- Cash advances cost 3% and carry a separate, higher interest rate, making them an expensive way to access money.
- Aspire does not offer a clear path to graduation — the issuer does not publicly state when or how you can convert to an unsecured card or recover your deposit.
How the Deposit and Credit Limit Work
When you open an Aspire account, you choose how much to deposit, between $250 and $2,500. That money sits in a deposit account held by the bank. Your credit limit equals your deposit amount — so a $500 deposit gives you a $500 limit. The deposit is not a payment; it stays in the bank's hands as security against the risk that you will not pay your bill.
You can request a deposit increase after you have held the card for several months and made on-time payments. However, Aspire does not automatically review your account for graduation to an unsecured card the way some issuers do. You have to contact the bank and ask. Even then, there is no published timeline or set of criteria that guarantees you will be approved.
If you close the account in good standing, you get your deposit back. If you default on the card, the bank can use the deposit to cover what you owe. This is how secured cards protect the issuer — and why they can afford to take on people with poor credit histories.
Annual Fee, Interest Rates, and Other Costs
The $99 annual fee is the single biggest cost of holding this card. For comparison, the Capital One Secured Mastercard charges $0 annually, and the Discover it Secured card charges $0 as well. Even cards that do charge an annual fee — like the OpenSky Secured Visa at $35 — cost less than Aspire. That $99 comes out of your pocket every year, whether you use the card or not.
The purchase APR is around 20%, which is standard for secured cards but high in absolute terms. If you carry a $500 balance for a full year, you will pay roughly $100 in interest. Combined with the annual fee, the total cost of holding this card while carrying a balance is substantial. The best use case for any secured card is to charge small amounts and pay the full balance each month — that way you avoid interest and only pay the annual fee.
Late fees run $25 to $35 depending on how late you are, and a single late payment can trigger a higher APR. Cash advances cost 3% of the amount withdrawn, plus a higher APR than purchases. There is no rewards program, no sign-up bonus, and no cash back.
How Aspire Compares to Other Secured Cards
The main trade-off with Aspire is the annual fee. You pay $99 to hold the card, while competitors charge $0 to $39. Over three years, that difference adds up to $180 to $297 in extra fees. Unless Aspire offers something meaningfully better — faster credit building, easier graduation, better customer service — the higher fee makes it a harder sell.
Aspire does report to all three bureaus, which is standard. So does Capital One, Discover, and most other secured cards. Aspire's customer service is available by phone, but so is Capital One's. Aspire's deposit range ($250 to $2,500) is typical, though some cards go lower or higher.
The real difference is the lack of a clear graduation path. Capital One and Discover both have published criteria and timelines for converting to unsecured cards. Aspire requires you to call and ask, with no may provide of approval. If you plan to use a secured card as a stepping stone for 12 to 24 months, that uncertainty matters.
| Card | Annual Fee | Deposit Range | Purchase APR | Graduation Path |
|---|---|---|---|---|
| Aspire | $99 | $250–$2,500 | ~20% | Call to request; no published criteria |
| Capital One Secured | $0 | $200–$2,500 | ~20% | Automatic review after 6 months |
| Discover it Secured | $0 | $200–$2,500 | ~20% | Automatic review after 8 months |
| OpenSky Secured | $35 | $200–$3,000 | ~20% | Call to request; no published criteria |
What Credit Bureaus See and How It Affects Your Score
Aspire reports your account status, payment history, and credit utilization to Equifax, Experian, and TransUnion. That means every on-time payment you make shows up on your credit report. Over time, a pattern of on-time payments can help your score move upward — typically by 50 to 100 points in the first six to twelve months, depending on your starting score and other factors on your report.
Credit utilization — the percentage of your limit you are using — also matters. If your limit is $500 and you charge $250, your utilization is 50%. Keeping utilization below 30% helps your score more than letting it creep higher. With a secured card, you control this directly: you can deposit more money to raise your limit, or straightforward charge less.
The fact that Aspire is a secured card does not appear on your credit report as a negative mark. Lenders see it as a credit account like any other. However, if you eventually graduate to an unsecured card, that transition does not automatically erase the secured account from your history — it stays on your report for seven years, but its impact on your score fades over time.
When Aspire Makes Sense and When It Does Not
Aspire makes sense if you have no other options for a credit card and you are committed to using it responsibly for at least 12 months. If you can deposit $500 or more and you will charge small amounts and pay in full each month, the $99 annual fee is the cost of rebuilding your credit. Over a year, that is roughly $8 per month for access to credit reporting.
Aspire does not make sense if you can get approved for Capital One Secured or Discover it Secured instead. Both charge $0 annually, report to the bureaus, and have clearer paths to graduation. The $99 fee is a real disadvantage with no offsetting benefit. Even if Aspire approves you and Capital One does not, it is worth explore to Capital One first — their approval odds are reasonable for people with poor credit, and the fee difference is substantial.
Aspire also does not make sense if you plan to carry a balance. The 20% APR plus the $99 annual fee means you are paying a lot to borrow money. If you cannot pay your full balance each month, a secured card is not the right tool — you need to address the underlying cash flow problem first.
How to Use a Secured Card Effectively
The goal of a secured card is to build a track record of on-time payments that lenders can see. To do that, charge something small each month — a subscription, a tank of gas, a coffee — and pay the full balance before the due date. This shows lenders you can handle credit responsibly without costing you interest.
Do not charge more than 30% of your limit. If your limit is $500, keep your monthly charges under $150. This keeps your utilization low, which helps your score. Do not use the cash advance feature unless it is a genuine emergency — the 3% fee and higher APR make it expensive.
After 12 to 24 months of on-time payments, contact Aspire and ask about graduating to an unsecured card or recovering your deposit. If they say no, keep using the card responsibly for another six months and ask again. If they still say no, you have built enough credit history that you may now may have access to for an unsecured card from another issuer — explore there instead.
Frequently Asked Questions
Can I get my deposit back if I close the card?
Yes, if you close the account in good standing — meaning you have paid all your bills on time and have no outstanding balance — the bank will return your deposit. It typically takes 5 to 10 business days. If you have missed payments or owe money, the bank can use the deposit to cover what you owe before returning any remainder.
Does Aspire ever convert to an unsecured card automatically?
No. Aspire does not automatically review your account for graduation. You have to call and ask. There is no published timeline or set of criteria that guarantees approval. Other issuers like Capital One and Discover do automatic reviews after 6 to 8 months, which is one reason they are often a better choice.
What happens if I miss a payment?
A single late payment will be reported to the credit bureaus and will damage your score. You will also pay a late fee of $25 to $35, and your APR may increase. If you miss a payment by 30 days or more, the bank may freeze your account or close it. Missing payments defeats the purpose of the card, which is to build a positive payment history.
Can I increase my credit limit without adding more money?
No. With a secured card, your credit limit is tied to your deposit. To raise your limit, you have to deposit more money. Some issuers allow you to request a limit increase after several months of on-time payments, but Aspire does not publicly state whether it does. Contact them directly to ask.
Is the $99 annual fee worth it compared to free secured cards?
Usually not. Capital One Secured and Discover it Secured both charge $0 annually and report to the bureaus the same way Aspire does. Unless you cannot get approved for either of those, the $99 fee is an unnecessary cost. Over three years, you would pay $297 extra for no additional benefit.