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35% Gold

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Notwithstanding a current 4% prime rate, you could pay an APR as high as 35% for a major credit card. Miss payments and the rate could go as high as 41%. CompuCredit and Columbus Bank & Trust have restarted marketing of the “Aspire VISA Gold,” targeted at consumers with weak credit scores. The card carries a minimum interest rate of 27.75%. However, applicants with lower scores may be charged a minimum 29.75% annual interest rate, or a minimum 35.00% annual interest rate. Cardholders who become delinquent face a minimum interest rate of 33.75%, 35.75%, or 41.00%. But, all the interest rates on the “Aspire VISA Gold” are variable. If the prime returned to 9%, the annual interest rate on the highest priced “Aspire VISA Gold” would hit 45%. After all, it’s a “Gold” card.

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|_3. ASPIRE VISA GOLD PRICING |
|_3. (P = WSJ Prime Rate) |
|_2. | TIER 1 |
|_. Purchase APR: | P+23.00% | 27.75% Min |
|_. Cash Advance APR: | P+23.00% | 27.75% Min |
|_. Delinquency APR: | P+29.00% | 33.75% Min |
|_2. | TIER 2 |
|_. Purchase APR: | P+25.00% | 29.75% Min |
|_. Cash Advance APR: | P+25.00% | 29.75% Min |
|_. Delinquency APR: | P+31.00% | 35.75% Min |
|_2. | TIER 3 |
|_. Purchase APR: | P+30.25% | 35.00% Min |
|_. Cash Advance APR: | P+30.25% | 35.00% Min |
|_. Delinquency APR: | P+36.25% | 41.00% Min |

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