Aspen Gold mastercard?

Question

Ok here goes..I received an offer like many others. Not reading much of what came w/ it (stupid). I wish i would've done this research before applying. I read in the little papers they sent after digging them out of the trash about the 20.00 setup fee. Of course after reading so many bad things i wouldn't be sending them a cent. Just a few days ago i get a paper from them sayin they need a copy of my soc. sec. card, a pay stub from the last 90 days, and copy of my phone bill from the past 90 days..They'll get nothin else from me EVER!. Did this happend to anyone else? it says if they don't receive these things they'll assume i decided to withdrawal my appy...I Hope SO...

An acct. hasn't even been started.They won't do anything without that 20$ and that info.

The 2nd paper said if i don't respond in 20 days with those copies they'll assume i've withdrawn my app.

Answer 1

Aspen, like Aspire which now operates as Tribute are all sub-prime predatory lenders. These type of credit cards are only good for collecting fees for the creditor {Aspen} The credit cards are only issued with a $300.00 credit line, of the $300, you will be charge an annual membership fee fo $125.00 or $150.00 depending of your location., this will reduce your available credit line to $175.00 to $150.00. on top of that, an Activation fee is required which is what you're referring to, and a monthly maintenance fee of $6.95.

This practice is illegal, DO NOT, under any circumstance send them or fax them anything! If they don't collect the activation fee or receive your documents requested, the account is not valid/active., What I do suggest you do is give them a call, and request the account to be close per YOUR request {Close per Customer Request} and asked them to send you a letter confirming so., If you don't, they will close the account and will be reported as "Close by Lender" this will reflect bad ... very bad on your credit reports.

A "Close by Lender" remark on your credit reports will alert other lenders the creditor {Aspen} had to close the account because you did not perform satisfactory per their agreements/terms between you and them, and this IS perfectly legal. And the first thing that comes to mind to other lenders is that you did not pay, or pay late three times in a year. They don't care for the actual reason. On top of that, your score will drop.

P.S. You agree to ALL their terms when you supply your social security and/or reply to the pre-approved letter. But if you do not complete the application per their request, you're breaking the contract between you and them, so in order to protect yourself and your credit reports, call-in and close the accoutn before they do it first.

Answer 2

I second lelekid's response.