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Aspire? Cashback Reward Card Review: Up to 3% Rewards

Aspire? Mastercard? Cash Back Reward Credit Card review
KEY TAKEAWAYS
  • The Aspire? Cashback Reward Card provides unsecured credit up to $1,000 upon approval for those with bad to fair credit
  • What we think: The Aspire Cash Back Reward Card is a great option if you’re looking to rebuild your credit whilst getting cash-back rewards. We particularly love the 3% cash back on gas, groceries and bill payments. However, the annual fee and interest rates may outweigh these rewards if you don’t spend much in these categories.
  • Lets you prequalify for credit before applying so you only incur a soft pull against your credit when seeing if you have a preapproval
  • Offers interest rates that range between 22.74% and 36%, depending on your credit score
  • Charges an annual fee between $49 and $175 for the first year, then between $0 and $49 after the first year
  • Offers cash back rewards on eligible purchases ranging from 1% to 3% when you sign up for the Aspire Cash Back Reward Card.
SUMMARY

If you’re trying to rebuild your credit, the Aspire Cash Back Reward Card may be just what you need to boost your credit score and help you achieve your financial goals.?

Use this guide to learn the good and bad qualities of accepting an offer from Aspire if you receive a mailer that you prequalify or wish to apply because you think it’s the best credit card for you.

Pros & Cons

Pros

  • Cash back rewards
  • Free VantageScore
  • Zero fraud liability & transaction alerts

Cons

  • Various fees
  • High APR
  • May have a low credit limit
Aspire? Mastercard? Cash Back Reward Credit Card
Key Information
Earn 1% back on all purchases and 3% back on gas, groceries, and bill payments. $49-$175 annual fee the first year, then $0-$49.

Is the Aspire? Cashback Reward Card a good credit card?

Two things in particular make the Aspire? Cashback Reward Card an attractive option when you have less than perfect credit: a potentially high initial credit limit and an easy prequalification based on your FICO or VantageScore.?

The high interest rates and fees, however, mean you should take a second look before you answer an offer that tells you that you prequalify for this Mastercard credit card issued by the Bank of Missouri.

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Aspire? Cashback Reward Card: Rewards

Let’s explore the bank’s cash-back program, including how to earn and redeem rewards with the Aspire Cash Back Reward Card. Fortunately, the terms for this program are easy to understand and let you know up-front when to expect to get your earnings on eligible purchases.?

Note that in addition to the cash-back rewards card, the Bank of Missouri also offers an Aspire credit card that doesn’t come with cash back or other rewards. It’s important to be mindful when you decide which one works best for you.?

Earn rewards

Aspire Cash Back Reward cardholders earn 1% cash back on every eligible purchase and 3% cash back on gas, groceries and bill payments. You get cash back credited toward your account when transactions post to your account — no rewards are given on pending purchases.?

Keep in mind that you don’t earn rewards on bank fees, interest charges, balance transfers or cash advances.?

Redeem rewards

Cash-back rewards from Aspire are given to cardholders as an annual statement credit against the balance of purchases. In the month of your account opening anniversary, the bank posts this credit against your purchase balances, so long as you have an account in good standing, but it can’t be used toward the monthly payments you make, including your minimum payment. Note that the only way to redeem your rewards is as a statement credit, as the bank doesn’t provide cash rewards.?

Aspire? Cashback Reward Card benefits

Access to all your account information from any internet-connected device is one of the main benefits of this card. Though many banks offer this sort of service, it’s worth noting that the Aspire Account Center lets you set transaction alerts so you can better track spending, especially when you have another cardholder attached to your account.?

The Bank of Missouri offers several other key benefits to Aspire cardholders, including the following.

1

No security deposit

The Aspire Cash Back Reward Card offers unsecured credit, so you don’t have to put money into a savings account to get approved for the card.

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2

Up to $1,000 credit limit

This credit card provides you with access to up to a $1,000 initial limit, and it often raises credit limits for those who don’t qualify for the high-end credit limit after six months of on-time payments.

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3

Prequalify without a credit check

You can get preapproval for the Aspire credit card with only a soft pull on your credit so you don’t incur a ding to see what the company has to offer. Keep in mind that once you accept the offer, the Bank of Missouri performs a hard inquiry on your credit, and it may show up as such on your credit report.

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4

Zero fraud liability

If you lose your card or it gets stolen, Aspire provides zero-fraud liability so you’re not stuck paying someone else’s charges.

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Fees, rates & limit

Though people often focus on the credit limit they get, they sometimes forget about the fees and interest rates charged for that access. Let’s take a look at how much being an Aspire cardholder can cost you both upfront and over time.

Fees

The Aspire? Cashback Reward Card charges the following fees:

Interest rates

The Aspire card charges the following annual percentage rates:

Credit limit

Initial credit limits for the Aspire? Cashback Reward Card are up to $1,000, though you may prequalify for a lower amount. The lowest amount you may get preapproval for is $350, but on the flip side, the Bank of Missouri sometimes raises credit limits after a six-month history of on-time payments.

Is the Aspire? Cashback Reward Card right for me?

The Aspire Cash Back Reward Card may be the right choice for you if you’re trying to build or rebuild credit.?

This credit card is designed for those with fair to less-than-perfect credit, and it typically requires a FICO or VantageScore of 630 for you to get a prequalification. Unlike most other cards intended to help you build credit, this rewards credit card also allows you to earn cash back in the form of a statement credit.

Note, though, that high fees and interest rates may make this credit card costlier than other choices available to those with similar credit scores, so be sure to shop around before accepting a preapproval. Aspire charges an annual fee upfront, so you incur that charge immediately upon acceptance of the bank’s offer.

Of course, your choice of credit card will largely depend on your financial situation and preferences.?

If you’re unsure about the Aspire credit card, check out these reviews to see if another card may be a better fit for helping you build or establish credit:

Aspire? Cashback Reward Card application

Aspire sends out offers for its credit cards to those who meet basic eligibility requirements, with a preapproval option requiring acceptance of the invitation.?

You can also learn more about the Aspire Cash Back Reward Card and apply online if you want the credit card but haven’t received a letter that you prequalify.?

In addition to a 630 FICO or VantageScore, requirements for eligibility for this credit card include:

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FAQs: Aspire? Cashback Reward Card

What bank is the Aspire? Cashback Reward Card through?

The Bank of Missouri issues both the Aspire Credit Card and the Aspire Cashback Reward Card. Branded through Mastercard for reliable access to almost any financial network, this credit card sends out offerings that target different people for prequalification at different rates and terms, depending on the advertising venue and personal eligibility.

Is the Aspire? Cashback Reward Card an unsecured credit card?

Yes, Aspire’s credit cards are unsecured, and you can qualify with poor to fair credit. Because this credit card is unsecured, you don’t have to open a savings account to qualify.

Does the Aspire? Cashback Reward Card give credit increases?

Though Aspire offers credit limits of up to $1,000, many who accept the preapproval get lower amounts. The lowest limit the credit card offers is $350 initially, topping out at $1,000. The bank does, however, sometimes lift limits after a 6-month history of payments that are on time and without issue.

Does the Aspire? Cashback Reward Card approve bad credit?

Aspire approves those with less-than-perfect credit for its credit cards. In many circumstances, those with bad credit can prequalify for and receive this credit card.

What is the credit limit for an Aspire? Cashback Reward Card?

Aspire provides cardholders with initial credit limits of up to $1,000. You may not, however, qualify for that much credit, even if you have a pre-approval letter. The lowest credit limit the credit card offers is $350 before the removal of the annual fee upon acceptance.

What credit score is needed for an Aspire? Cashback Reward Card?

Aspire typically targets their offers to those with at least a 630 FICO or VantageScore. This credit card also helps customers take control of their credit by providing free access to scores on a month-to-month basis for easier tracking and monitoring.

Imogen Sharma
Imogen Sharma Finance Contributor

Imogen Sharma is an experienced writer, specializing in business, culture, and financial guidance for young adults. She has contributed to articles for Varo Bank, Lendzi, MoneyTips and Indeed, providing invaluable insights into budgeting, financial planning, and lines of credit.

As a dedicated self-employed writer, she cherishes the opportunity to share her knowledge and experience with others, offering advice so they can master their bank accounts and secure their financial futures. Her articles, published in CMSWire, Reworked, WalletGenius and The Customer, serve as actionable guides to help people make solid financial decisions.

Prior to her writing career, Imogen honed her financial acumen in management roles, excelling in P&L analysis, budgeting and HR. During her tenure at Smith & Wollensky in London, her strategic contributions contributed to a 2% increase in EBITDA over a year, demonstrating her ability to drive financial performance and organizational success.

Imogen’s writing style combines expertise with accessibility, making complex financial topics easily understandable and actionable. With a focus on the long game, she encourages readers to approach financial matters with enthusiasm and determination.

* Opinions expressed here are those of the LA Times Compare Cards Team and have not been reviewed or approved by any advertiser or entities included within this content. See our editorial policy for more details.

All products or services are presented in this content without warranty. The information, including card details such as rates and fees, is accurate at the time of publish. Please visit each bank's website directly for the most current information.

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