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Last updated on August 15th, 2022
Aspire® Cashback Rewards Credit Card
Aspire® Cashback Rewards Credit Card
- Regular Purchase APR 22.74% or 36% Variable
- Balance Transfer APR 25.74% or 36% Variable
- Cash Advance APR 25.74% or 36% Variable
- Annual Fee As low as $85
Credit NeededBestCards.com uses a variation of FICO Score 8, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card.Fair , Poor
- Processing Network Mastercard
- Earn a 3% Cash Back Reward on Gas, Groceries and Utilities‡
- Earn a 1% Cash Back Reward on all other eligible purchases‡
- Up to $1,000 credit limit subject to credit approval*
- Pre-qualify without affecting your credit score
- No security deposit
- Good anywhere Mastercard® is accepted
- Free access to your credit score †
- $0 fraud liability**
- *Pre-qualified means that information in your credit report indicated that you met certain pre-established credit criteria. Final approval is not guaranteed if you do not meet all applicable criteria (including adequate proof of ability to repay). Income verification through access to your bank account information may be required.
- † Your credit score will be available in your online account 60 days after your account is opened. (Registration required) The free VantageScore 4.0 credit score - provided by TransUnion® is for educational purposes only and may not be used by The Bank of Missouri (the issuer of this card) or other creditors to make credit decisions.
- ‡You will earn a 3% cash back reward on eligible gas, grocery, and utility purchases/payments and you will earn a 1% cash back reward on all other eligible purchases, which are for goods and services minus returns and other credits. Rewards will be earned when the transaction posts to your account and will remain as long as the purchase is not returned. Purchases do not include fees or interest charges, balance transfers, cash advances, or purchases of other cash equivalents. Rewards are not earned for pending transactions
- **Fraud liability subject to Mastercard® rules
- Regular Purchase APR: 22.74% or 36% Variable
- Balance Transfer APR: 25.74% or 36% Variable
- Balance Transfer Transaction Fee: 3% of the amount of each transfer
- Cash Advance APR: 25.74% or 36% Variable
- Cash Advance Transaction Fee: Either $5 or 5% of the amount of each cash advance, whichever is greater
- Annual Fee: As low as $85
- Foreign Transaction Fee: 3% of each transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
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At a Glance
You can earn up to 3% cash back while building credit with The Aspire® Cashback Rewards Credit Card. The card, from the Bank of Missouri, provides unlimited 3% cash back on gas station, grocery store, and utility purchases and 1% back on all other eligible purchases.
Ideal for Those Who:
- Want to build credit while spending on monthly utilities and purchases
- Want quick pre-qualification
- Plan to pay their balance every month
- Prefer unsecured credit to a security deposit
Aspire® Cashback Rewards Credit Card Review
Earn 3% Cash Back on Select Purchases
Aspire® Cashback Rewards Credit Card earns an impressive (up to) 3% cash back on select purchases. Aspire cardholders earn the following rewards with their credit card:
- Earn 3% Cashback reward on Gas, Groceries, and Utility Payments
- Earn 1% Cashback rewards on all other eligible Purchases
Bonus purchases are calculated through what are known as Merchant category codes, or MCC. For the Aspire Card, the merchant codes refer to Mastercard’s classification of select purchases. Here are the eligible bonus cash back MCC categories for Aspire Cashback Rewards:
- Gas – 5541 Service Stations (with or without Ancillary Services)
- Groceries – 5411 Grocery Stores, Supermarkets
- Utilities – 4900 Utilities – Electric, Gas, Heating Oil, Sanitary, Water
There are no limits to the total amount of rewards earnable in the 3% bonus category – which is an excellent feature for those who plan to place some of their utilities on the credit card. Rewards are automatically applied to the cardholder’s account and used as statement credits.
Up to $1,000 Starting Credit Limit
Starting credit limits with the Aspire credit card run from $350 to $1,000. Like other similar credit cards, Aspire charges the annual fee upon card issuance, meaning your starting credit limit will be lower until the annual fee is paid.
The card charges an annual fee of between $29 and $49. These annual fees apply for year two, with your first year’s annual fee being as high as $175. Beyond the starting credit limits, Aspire conducts periodic account reviews for credit limit increases. You may qualify for a higher credit limit with on-time payments and responsible credit use.
Other Card Features
Other notable features of the Aspire® Cashback Rewards Credit Card include:
- Free VantageScore 3.0 (provided by Equifax)
- Reports to all three major credit bureaus
- Mobile app available in Apple Store and Google Play
- Mobile wallet for contactless payments
- Transaction alerts
Aspire cardholders also enjoy Mastercard Platinum features, including:
|Zero Liability Protection||Mastercard Global Services||ID Theft Protection|
Should You Apply for the Aspire® Cashback Rewards Credit Card?
The Aspire® Cashback Rewards Credit Card provides plenty of value for those serious about fortifying their credit but wanting a generous rewards program to help offset costs. The 3% cash back rewards categories are the sort that most cardholders will actually enjoy – and use – to help pay down these monthly charges.
Of course, the fees with the card are a noticeable drawback. Unfortunately, fees like these are common with similar credit cards and help to offset the risks of lending to subprime borrowers. Still, the annual fee with the Aspire Card is in line with other cards of the same category.
Overall, the Aspire® Cashback Rewards Credit Card is a decent cash back rewards credit card for those looking to establish a positive credit history, want a card with pre-qualification, simple cash back, and more.