Class Action Alleges the Aspire VISA Secured Credit Card Violates the Credit Repair Act

Today, the 9th Circuit Court of Appeal issued a ruling in a case in which the plaintiffs are accusing Aspire VISA, a subprime credit card, its marketing is a violation of the Credit Repair Organization Act. That Act prohibits companies from seeking advance payments for fixing the consumer’s credit. Aspire VISA offered a $300 credit limit VISA card as a way for consumers to rebuild their credit. The catch was that Aspire VISA charged consumers a $29 finance charge, a monthly $6.50 maintenance fee, a $150 annual fee all charged against the $300! The consumer received a mere $63 in...

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