The Finch Formerly Known As Gold

5 August 2004

Really heavy plastic

The folks at Columbus Bank and Trust Company (Member FDIC) won't say so on their Web site, but they are apparently the vendors of the Aspire Visa card, an offer for which crossed my threshold yesterday, and which provided undue levels of mirth.

Unlike some other cards I've seen, this one doesn't demand a fistful of fees before activation. On the other hand, Aspire isn't about to lose any money on this deal: the preferred interest rate is a whopping 29.75 percent, increasing to 35.75 in the case of delinquency. For someone who doesn't qualify for the preferred rate, it's 35 percent, increasing to 41 percent for deadbeats. And incidentally, these are variable rates: should the prime rate rise, which Mr Greenspan says it will, these rates rise right along with it. I suspect the Mob has more generous terms than this.

Having successfully (for now) fended off a card issuer's attempt to get 16 percent out of me on a card they gave me at 8, I can assure you, I'm not even thinking about applying for this little darb, even with its lofty (ha) $3250 credit limit.

Posted at 6:31 AM to Common Cents

Why are they even offering it to you?

Posted by: ms7168 at 10:45 AM on 5 August 2004

They bought a list, and I was on it. Only reason I can think of.

Posted by: CGHill at 3:15 PM on 5 August 2004