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Aspire Visa / closed account

fall river, GA, United States Review updated:
4.1
Contact information:

On Nov. 13 I received a letter of termination. They closed my account for no reason. I pay each month and hold a small balance. Sometimes no balance at all. What a ripoff.
I don't care about the account being closed but now it will lower my Fico score. In this economy I have strived to keep my score at least 700..and now it will be ruined. There is no recourse. Phone lines are busy or they hang up on you. Something needs to be done about this credit card company.
Their interest rates are astronomical too. 29%

They closed my account a few years back for no reason and I contacted consumer protection. They soon after reinstated it.
Ha
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Ma
  14th of Nov, 2008
Agree Disagree 0 Votes
its that they dont want to deal with credit cards enymore so they canceled everyone acount including mine mine 2500 my smallest account i max it out everymonth and pay it off ontime got rid of me 2
Jo
  15th of Nov, 2008
Agree Disagree 0 Votes
I too got my letter of termination. I was upset because of the fico reason as well. a credit card that is half full on the credit limit is good for you, the letter states it was closed and states my new limit was what I owed on it, Now does that mean it is now maxed out on my books and hurting me? I think it does...
De
  17th of Nov, 2008
Agree Disagree 0 Votes
I received a letter dated 11-7-08 "Notice of Termination of Card Program" and that my line of credit had been lowered from $9800 to $100. Then I received the following email:

Unfortunately, your Aspire Visa credit card program has been discontinued. Accordingly, your account has been closed permanently to new transactions. From time to time credit card portfolios are discontinued. Unfortunately, that's the case with the Aspire Visa program which has been discontinued.The closure of your account is not a reflection of your payment or credit history.

The card isn't that great...the interest rate is outrageous...but now my FICO score will be affected because it will show a higher ratio of credit used vs. what is available.

I think the reason they left me with a $100 line of credit is so they can bill their Annual fee!!!
Br
  17th of Nov, 2008
Agree Disagree 0 Votes
This just happened to me also, but I didn't even get a letter! I found out when I called to make a payment and see about getting my interest rate lowered from 39%. Seriously. They told me I wasn't eligible for a rate reduction becasue my account had been closed in September. WTF?

The Indian guy reading the script kept telling me I would be able to continue to make my minimum monthly payments until the balance was paid off, then I could apply for another card, but right now I'm locked at 39%. I guess I'll have this paid off in about30 or 40 years. Very exciting.

Who can we call or write about this?
Za
  24th of Nov, 2008
Agree Disagree 0 Votes
I just got the termination notice today. I don't really care because it's my worst card (interest-wise) and it's been paid off for a long time, I haven't used it in several months.

I have excellent credit, I doubt this particular card's small limit will affect my fico much. Still though, this is interesting...cards being cancelled for no reason? Perhaps a sign of times to come.
Eb
  25th of Nov, 2008
Agree Disagree 0 Votes
When I got home today I opened my mail and to my disbelief it was a letter from Aspire stating that my account had been closed. I have had this card for 3 years, never missing a payment and paying off the balance annually. How can they just close an account without warning?! When I contacted the company they told me that the Aspire Visa card program was being discontinued and that it had no bearing on my credit history because the account was not closed due to something I did or didn't do...don't know how true this is. This is so unfortunate and ironic, a couple of days ago I called to request a new card because the old card was expiring soon and they told me that one was already being sent out...what a joke! If any one needs to contact the company regarding the closing your account the number is 1-800-820-3054 and if anyone knows of any recourse that can be taken regarding this matter please email me the information please.
Ga
  26th of Nov, 2008
Agree Disagree 0 Votes
This is awful! I received the same letter ad have similar issues with Aspire. I went to the FTC site http://www.ftc.gov/credit and as it turns out their parent company CompuCredit is being sued by the FTC . . . go figure. I'm doing some research on how this affects my credit and my rights. For starters I'm filing a complaing with the FTC, this can be done online. I just hope that the President packs up and goes home the damage is done, there should be NO MORE BAILOUTS - WE (TAXPAYERS) CANNOT AFFORD ANYMORE OF THIS!
Ch
  30th of Nov, 2008
Agree Disagree 0 Votes
im a supervisor at the aspire visa customer service im sure i probably spoke 2 some of you people when u requested 2 speak 2 a supervisor...i feel what they did is bad and if any of you need any scoop or inside info abt the company do let me know...u guys can mail me at chinno_xl@hotmail.com...i still might be able 2 help u with some solutions and give u all the dirt abt them
Kn
  17th of Dec, 2008
Agree Disagree 0 Votes
ok, after my wife and i received a letter yesterday in the mail about our aspire card account i found these posting and so as i started searching this morning and calling the FTC here is what you all need to do and please do as i did we will all get money back if the FTC wins the suite.call the FTC file a complaint, call your Attorny generals office and file a complaint, then call the OTS @ 1-800-842-6929.this is the information i was given by the agent i talked to this am.if you need any thing please email me knighthawk126@hotmail.com
Ke
  21st of Feb, 2009
Agree Disagree 0 Votes
I received this notice too and my balance has been at zero for years. They closed my card and it has affected my credit score. I intend to send a letter to all three credit reporting companies accompanied with the letter I received from Aspire explaining the situation. When you have no control over something that happens with a credit card you own, your credit score should not suffer for it. Protect yourselves, people. That's why these bureaus are in place.
Fu
  22nd of Apr, 2009
Agree Disagree 0 Votes
I have a 1500.00 balance, never late, always on time and they closed my account with a 29.99% rate that they claim can not be lowerd. B.S !!!.. I could care less about the account but this is highway robbery!!!
Mw
  6th of May, 2009
Agree Disagree 0 Votes
I got the termination letter back in December 2008 about my account. I had opened it in 2006 after filing for bankruptcy. I was looking for a card, any card, at that time to start rebuilding my credit because of the bankruptcy. Now I have this on my credit score & I did nothing wrong here. What can I do, if anything, to make sure it doesn't damage my credit I'm trying so very hard to repair in this economy ?? Any help would be greatly appreciated. mwayman2@hotmail.com
Jo
  29th of May, 2009
Agree Disagree 0 Votes
Hi,
My account too was closed. Now, my oldest card- chase- has closed my account- due to my credit/debt ratio. I kept this Aspire card open for an emergency, now, I'm really nervous all my other cards are going to do the same. Unfortunately all of them are sending me letters raising my interest from anywhere from 9- 27%! The card actually said if i can pay down my debt that they would re-open. Yeah right, how is that possible with raising rates and now my husband out of work. It really stinks that people who are still making ends meet (barely) are thrown under the bus. Thx for this info- I will call the FTC and see what can be taken off my credit reports, but think this is only just beginning...
Mi
  15th of Jun, 2009
Agree Disagree 0 Votes
yeah...guys aspire visa is the worse card that u could have at this point if you do!! get rid of it...the a.p.r is ridiculous!!! and iam currently having the worse experience with it. so a couple of months back i charged $400.00 I WAS late maybe on 2 payments suddenly my account is up$ 800.00 so i called and asked them to settle with me for 600 dollars they didnt want too.. i called several other times and they still didnt want to compromise with me.. so now moths later almost a year my account is 1500.00. they brought a law sue against me and they send my info to the city marshalls..so now the city marshall is after me. i refuse to pay 1500.00 dollars worth of all types of additional feel and late fee.

i will go to court to settle this is wrong...
Ga
  24th of Jun, 2009
Agree Disagree 0 Votes
It seems we are being punished by an action of the FTC, They are supposed to protect us, what are they doing about this?

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