What the Aspire Credit Card Is

The Aspire Credit Card is a secured credit card issued by Comenity Bank, designed for people rebuilding credit or starting from scratch. You put down a cash deposit, usually between $200 and $2,500, which becomes your credit limit. You then use the card like any other credit card — the deposit stays in a savings account and acts as collateral if you don't pay your bill.

The card reports to all three credit bureaus (Equifax, Experian, and TransUnion), which means your payment history can help raise your credit score over time. There is no annual fee, which sets it apart from many other secured cards in this category. The interest rate is higher than cards for people with good credit — typically in the 19% to 21% range — but that is standard for this type of card.

Key Takeaways

  • You need a cash deposit of $200 to $2,500 to open the account, and that money stays locked in a savings account while you use the card.
  • The card has no annual fee and reports your payment history to all three credit bureaus, which can help rebuild your score if you pay on time.
  • Interest rates run between 19% and 21%, so carrying a balance costs significantly more than it would on a standard credit card.
  • After 18 months of on-time payments, you may be able to move to an unsecured card and get your deposit back, though this is not automatic.

How to Get the Card and What You Need

You can start the process online at Comenity Bank's website or through the Aspire card page. You will need a Social Security number, a current mailing address, and a valid government-issued ID. The process itself takes about 10 minutes.

Comenity Bank will pull your credit report, but they do not require a minimum credit score — this is one reason the card works for people with no credit history or a damaged one. They do check ChexSystems, which is a banking history report, so a history of unpaid bank accounts or fraud can disqualify you. Once approved, you fund the deposit by transferring money from a bank account or sending a check. The card typically arrives within 7 to 10 business days after your deposit clears.

How Your Deposit Works and When You Get It Back

Your deposit is held in a separate savings account at Comenity Bank. You cannot touch this money while the card is active — it is collateral. The bank earns interest on the deposit (the rate varies, but is usually very low), and you do not receive that interest. Your credit limit equals your deposit amount, so a $500 deposit gives you a $500 limit.

After 18 months of on-time payments, you become may be able to access to convert to an unsecured card. This is not automatic — you have to contact the bank and request it. If approved, your deposit is returned to you, usually within 5 to 7 business days. If you close the account before 18 months, you can request your deposit back, but closing the account will hurt your credit score because it shortens your credit history and lowers your average account age.

Interest Rates, Fees, and What It Costs to Carry a Balance

The Aspire card charges no annual fee and no monthly maintenance fee. The interest rate is fixed at the time of approval and typically falls between 19% and 21%, depending on your creditworthiness at the time you explore. There is also a grace period on purchases — usually 25 days — which means you do not pay interest if you pay your full balance by the due date.

If you carry a balance, the interest adds up quickly. A $500 balance at 20% interest costs about $8.33 per month in interest alone. Over a year, that is nearly $100 in interest on a $500 purchase. This is why the card works best if you use it for small purchases and pay the full balance each month. Late payments trigger a late fee (usually $25 to $35) and can reset your progress toward the 18-month conversion window.

How Using This Card Affects Your Credit Score

Every month, Comenity Bank reports your payment history, credit limit, and balance to Equifax, Experian, and TransUnion. If you pay on time every month, this positive history gradually raises your score. Most people see a noticeable improvement within 6 to 12 months of consistent on-time payments.

Your credit utilization — the percentage of your limit that you are using — also matters. If your limit is $500 and you carry a $400 balance, your utilization is 80%, which hurts your score. Keeping your balance below 30% of your limit (so under $150 in this example) helps your score climb faster. The card works best when you use it for one small recurring charge — like a streaming service or gas — and pay it off in full each month.

Alternatives to the Aspire Card

Other secured cards exist and may suit you better depending on your situation. The Capital One Secured Mastercard has a similar structure but charges an annual fee ($39 to $99 depending on your deposit). The Discover it Secured card also has no annual fee and offers 2% cash back on purchases at gas stations and restaurants, plus 1% back on everything else — a real advantage if you plan to use the card regularly. The Chime Credit Builder Visa has a lower deposit minimum ($200) but a lower credit limit cap ($1,000).

If you have access to a credit union, some offer secured cards with lower interest rates and faster paths to conversion. If you have a family member willing to add you as an authorized user on their account, that can also help your score without requiring a deposit, though you would not build your own credit history that way. The right choice depends on whether you want cash back rewards, how much you can deposit upfront, and whether you have other options available to you.

Common Mistakes to Avoid

The biggest mistake is treating the card like information programs. You still owe every dollar you charge, and interest compounds if you do not pay the full balance. Another common error is explore for multiple cards at once — each process triggers a hard inquiry on your credit report, which temporarily lowers your score. Space applications out by at least 3 to 6 months.

Do not close the account as soon as you convert to an unsecured card. Keeping the account open (even if you do not use it) helps your credit score because it maintains your account age and lowers your overall utilization ratio. Some people also miss the 18-month conversion window because they do not track when they opened the account. Mark the date on your calendar and contact Comenity Bank a month or two before you hit 18 months so you are not caught off guard.

Frequently Asked Questions

Can I use the Aspire card if I have been denied for other credit cards?

Yes. Aspire does not require a minimum credit score and does not deny people based on past credit problems alone. The main disqualifier is a history of unpaid bank accounts or fraud flagged in ChexSystems. If you have been denied elsewhere, Aspire is worth trying, but check your ChexSystems report first to make sure there are no surprises.

What happens if I miss a payment?

You will be charged a late fee (usually $25 to $35) and the missed payment will be reported to the credit bureaus, which damages your score. More importantly, missing a payment resets your progress toward the 18-month conversion window — you start counting from zero again. This is why on-time payments are critical with this card.

Can I increase my credit limit without adding more money?

Not with Aspire. Your credit limit is locked to your deposit amount. If you want a higher limit, you have to deposit more money. Some people add to their deposit over time as they save, which increases both their limit and their collateral.

Do I have to use the card every month to build credit?

No, but it helps. Even one small charge per month that you pay off in full shows activity and positive payment history. If you never use the card, the account is still reported to the bureaus, but you are not actively demonstrating that you can manage credit responsibly.

What if I want to close the account before 18 months?

You can request your deposit back at any time, but closing the account will lower your credit score because it shortens your credit history. If you are rebuilding, it is usually better to keep the account open even after you convert to an unsecured card, or to keep using it occasionally to maintain activity.