ASPIRE Fraud Alert

Anonymous · ‎01-08-2021

I filled out my Aspire card application online (pre approved for 1500), they asked for my bank login info to verify I have one I guess, (pop up client that connects the to bank log-in portal), I stupidly thought nothing of it and filled it out, got the confirmation text from Bank of America, and completed the application, despite never being asked to do so on other cc applications. I was approved, Bank of America immediately called me and said they locked my account because someone in another country tried to log into my bank account. So, either this CC company is a scam and info seller, or their security is seriously lacking. I only filled it out to bump my credit limit up, as I've been working on fixing my credit.

Anyone have any issues with them, security-wise? I have experian, etc. they immediately issued an alert and initiated a lock, helping to ensure that only I can apply for credit, etc.

gingerflower · ‎01-08-2021

I definitely would have not give.my bank onfo!! That is a Red flag of a scam and fraud.

Anonymous · ‎01-08-2021

Well, obviously they exist, since there are several threads about them on here. They're a legitimate, albeit amateurish and predatory credit company. So I'll see how it goes. I will just be watching my accounts carefully, anything related to my identity.

Anonymous · ‎01-08-2021

@gingerflower wrote:
I definitely would have not give.my bank onfo!! That is a Red flag of a scam and fraud.

It's actually pretty common these days that creditors request access to your bank accounts through third party platforms like Plaid and Yodlee. It allows them to do instant income verification and look at account history for balances and overdrafts. It allows them to feel comfortable taking risks on people most other lenders won't touch.

gingerflower · ‎01-09-2021

@Anonymous

Just saying, never had a institutions ask for your bank information while applying for credit. I surely would have not given my bank info. Two each its own!!

Anonymous · ‎01-09-2021

@gingerflower wrote:
@Anonymous
@Anonymous
Just saying, never had a institutions ask for your bank information while applying for credit. I surely would have not given my bank info. Two each its own!!

It's meant for subprime credit lending. Deserve, Petal, lots of fintech startups...

wife2froggy · ‎01-13-2021

It's actually pretty common these days that creditors request access to your bank accounts through third party platforms like Plaid and Yodlee. It allows them to do instant income verification and look at account history for balances and overdrafts. It allows them to feel comfortable taking risks on people most other lenders won't touch.

I'm glad you brought this up. I was starting to have post-action panic. Back during my credit rebuild I needed a loan and they gave me the option to either upload my bank statement or give them access to my bank account. It seemed horribly wrong but I ended up giving them access to an account I don't keep much money in. They deposited the funds the next day, I had my regular auto pay come out, no problems. I have recently changed my password and feel better - I really don't remember which crap loan it was but maybe I just got lucky with a legitimate predator, lol.

On the road!
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Anonymous · ‎01-14-2021

I have an ASPIRE account, there were no problems, but such topics are enough for me to be more careful.

FinStar · ‎01-15-2021

@Anonymous wrote:
@gingerflower wrote:
@Anonymous
@Anonymous
Just saying, never had a institutions ask for your bank information while applying for credit. I surely would have not given my bank info. Two each its own!!
It's meant for subprime credit lending. Deserve, Petal, lots of fintech startups...

I believe this process has expanded beyond those lenders and I don't think it was necessarily targeted for subprime lending. Lots of CUs and banks use this, including some biz lenders. Off the top, ETFCU, KeyBank, Redstone, and plenty others have used Plaid.

Anonymous · ‎01-15-2021

@FinStar wrote:
@Anonymous wrote:
@gingerflower wrote:
@Anonymous
@Anonymous
Just saying, never had a institutions ask for your bank information while applying for credit. I surely would have not given my bank info. Two each its own!!
It's meant for subprime credit lending. Deserve, Petal, lots of fintech startups...
I believe this process has expanded beyond those lenders and I don't think it was necessarily targeted for subprime lending. Lots of CUs and banks use this, including some biz lenders. Off the top, ETFCU, KeyBank, Redstone, and plenty others have used Plaid.

Of course it's expanded because it gives them an invasive look into your finances. I'll never do this, just like I won't make my primary checking account one that reports balances and transactions to Early Warning.