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10% CASH BACK! Aspiration Card Review - YouTube
Channel: Money Growth Project
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what's up money growers jacob back here
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with another video about something i
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want to talk to you guys about today
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that is uh pretty new on the scene here
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in the credit world this is a
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newer offer for a card that is here well
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i guess well i guess you could say in
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the debit world uh when it comes to
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services for credit cards debit cards
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cash back right kind of we're looking at
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up here get 100 bucks and you spend a
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thousand dollars
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and things like that so i want to talk
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about this this comes from aspiration
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so is the name of this company so what
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they have to offer they're spending a
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whole bunch of money on advertising
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right now to try to push their services
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push this card that they have and they
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do have some unique offerings here that
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are a bit different um you know things
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from like the rewards they give to how
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um you know they spend money that you
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know they earn from their customers even
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um
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things where you know it comes like
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paying a fee uh they actually let you uh
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choose what you want to pay so there's
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certain flexibilities here with this
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with this card that we'll talk about go
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ahead and subscribe to the channel guys
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because we got a lot more stuff to talk
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about if you guys have this card or if
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you've thought about this you've seen
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the reviews and we'll go over some
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reviews too sorry we'll go through this
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stuff here we'll go through some of the
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fine print you need to know and we'll go
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through a couple reviews from popular
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websites if you guys have this card i do
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want to hear about it what your
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experiences are
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with it and just maybe how you feel
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about these kinds of cards in general so
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let's hop in and look at this so looking
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at aspiration here so what they're
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promoting here is you get a hundred
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dollars when you spend a thousand
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dollars so ten percent return on spend
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the deal i actually saw online it was
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get a hundred and fifty dollars when you
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spend a thousand uh which we'll talk
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about that actually do have like two
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different offers so what you get is
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unlimited cash back with this card and
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they say no hidden fees so they earn up
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to one percent
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uh on deposits unlimited fee free
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withdrawals at 55 000 plus atms and then
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deposits are fdic insured this shows
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where they've been featured right cnn
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forbes new york times money nerd wallet
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um understand
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that i don't know about nerd wall i
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don't see this a whole lot for people
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getting featured a lot of times you see
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cnn forbes this kind of thing
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you'll see lots of like um public
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figures or marketing people right
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big-time marketing people talk about
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their where they were featured you can
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be paid to be featured in these
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publications so you know just keep that
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in mind so just because they uh you know
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show this on their website doesn't mean
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that like they got an entire story
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dedicated to them they were just
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featured and they could have just paid
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to be in one of those just keep that in
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mind guys so
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what they call themselves here is the
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world's first cash back account that
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lets you track the impact of your
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spending all managed through one
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intuitive app they do have a couple
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reviews here and says these testimonials
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may not be represented the experience of
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other customers there are no guarantee
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of future performance or success so you
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can take these for what you will i mean
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you know
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yeah however much value you want to put
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onto that go for it so what is spend and
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save so what you get here is up to 10
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cash back on debit card purchases we're
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going to check the fine print on some of
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this uh the fee for atm withdrawals
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um at all point atms up to five percent
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apy on savings plus your fdic insurer
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there's no hidden fees uh pay us a
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monthly fee you think is fair that's one
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thing where you can actually pay zero if
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you want an extra cash back for spending
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as socially conscious businesses so it
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talks about here how the
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apy is subject to change
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now this is pay what is fair so they
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actually have two options we're going to
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get to
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down here with their two different plans
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so because what you're getting this is
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not a credit card there's actually like
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a debit card and this is aspiration we
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always put our customers first you can
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be sure because we trust you to pay what
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is fair even if it means zero so they
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want to provide their services at no
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cost
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well they provide their services at cost
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which means they don't make anything
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over that they're just providing
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whatever it costs them uh to provide the
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service what they're charging you
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they're not charging you extra
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is what it means so if you scroll down a
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little more
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so even more for you and the planet the
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big part of their deal here is the
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socially conscious aspect of it so they
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want to promote planet friendly benefits
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for just pennies a day uh this is a
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planet friendly debit card is what they
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offer
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let's make it made from recycled plastic
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you can boost your savings extra cash
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back all the stuff we've been looking at
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here
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uh just recently now if you look at the
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two different plans they offer these are
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the two different cards okay so debit
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card and the world debit card now you
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have to pay what is fair we can pay zero
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you can get this or you get the
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aspiration plus which is basically eight
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bucks a month or
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more like six bucks a month if you pay
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annually
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now you see what they have to offer and
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all the deposits
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the atm network this is a big difference
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they have where it's three to five
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percent cash back on conscious coalition
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purchases and then ten percent back over
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here on conscious coalition purchases if
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you're running what that is
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these are companies they've teamed up
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with that they feel are very socially
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conscious so
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if you open it here
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basically they want to reward you for
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for encouraging they want to encourage
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you to spend sustainably is what they
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want that's the big part of their
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company mission here so if you spend
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with someone like this one of these
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companies you'll get 10 percent cash
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back so
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they'll be companies like this so
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uh so let's help change the chocolate
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industry by committing to 100 slavery
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free chocolate or tree free paper
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products that you can buy
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uh with carbonation deliveries reduced
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plastic waste while you do laundry
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things like that they are big on the
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environmental impact these lots of
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companies that they have uh partnered
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with so
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coming back here that's where you're
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getting that difference in cash back for
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it depends on where you spend your money
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so
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let's see a lot of these was the same
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you know you can plant a tree with every
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time you round up you get paid two days
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early the five percent on your savings
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out of one out of network atm
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reimbursement monthly
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and then you have carbon offsets for all
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your gas purchases planet protection is
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what it means
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excuse me another factor so we scroll
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down here we'll scroll a little more to
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some of the tiny prints
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now it's a depositor fdic insured up to
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2.5 million per depositor so
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again right here up to 2.5 million now
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let's hop into some of this small prayer
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this is where some of this stuff is
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pretty important okay
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now terms and conditions says the offers
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here they're only valid for customers
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who open a new aspiration spend and save
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account or aspiration plus account the
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offer tiers are as follows there is the
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100 credit you get uh first for the
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hundred bucks or you do get 150 that's
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what i initially saw online 150 you get
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back when you enroll in aspiration plus
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either during the account sign up or
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within 60 days of the account opening
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and you continue
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through the date of which you get that
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credit now
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listen to this part here's how you
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actually get the credit so customer must
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complete the following activities open
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and fund your account
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uh with ten dollars or more use the
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debit card to make at least a thousand
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dollars worth of cumulative transactions
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in the first 60 days you gotta spend a
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thousand bucks in 60 days
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and
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uh the thousand dollar transactions
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right not including anything that gets
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returned this is allow up to 120
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calendar days from account opening for
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the 100 150 credit to post your account
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so even from the time you spend that
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thousand bucks you do all this you can
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wait up to four months to get your 100
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150 credit some people may be worth it
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to them some people it may not be
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of course you have to be in good
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standing all that kind of stuff
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and that kind of thing when it comes to
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this now
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let's see
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uh
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now where's the next part i want to show
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you guys here we go so the aspiration
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spend account and save account here are
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part of a cash management account
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offering of aspiration financial llc an
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sec registered broker dealer aspiration
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is not a bank so if you need some more
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services or other offerings um they're
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probably gonna be kind of limited
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because they are not a bank they don't
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have a lot of the same resources that a
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bank has now because of that
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um also you want to look at certain
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things down here
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where it says
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aha so the a the annual percentage yield
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the apy they talk about getting that you
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know five percent so it says rates maybe
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change from time to time without notice
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to earn five percent this is what you
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need and uh interest on aspiration
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savings account balances
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up to and including 10 000 in any
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calendar month the customer must be
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enrolled in aspiration plus you have to
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be in the one where you're paying
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monthly and you have to spend a thousand
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dollars or more monthly with their debit
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card
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that's what you have to do in order to
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get the five percent interest then it
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goes into some even more details here
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um
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also your talks about the cash back and
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how this works so those customers will
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earn cash back on purchase made at
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certain merchants the percentage are
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subject to change at any time without
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notice and you're going to generally be
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credited to your aspiration spend
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account on the first calendar day of
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each month so that's basically what
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they're telling you here in terms of all
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the
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fine print and that kind of thing take a
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look real quick over here not this one i
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like nerd wallet nerdwallet gives us
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four and a half stars overall so they
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gave us a pretty good review right so
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they do say from the beginning cash
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management account or cash account so
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not a bank right so they're commonly
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found in checking savings accounts
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they're offered by non-bank financial
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service providers like aspiration it
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does talk about some of the offers they
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have here some of the pros and cons here
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right so the fact that they have you
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know up to 10 cash back which again you
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have to spend with certain companies in
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order to get that you know the no
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monthly service fee for the basic
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account um
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this might be a little outdated because
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i've only seen up to 150 i haven't seen
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200 for a welcome bonus
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and then
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certain things we can offset you know
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your carbon output when buying gas stuff
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like that you're spending tracker for
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your social impact and things like this
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are some of the downsides right they've
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got no cash deposits no branches or cds
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um
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you know they've just limits that big
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banks probably aren't going to have
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because big banks generally have more to
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offer
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so they do give them four and a half out
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of five stars overall i mean this is
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something
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that's a newer business and you know
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this business model is becoming more and
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more often with cash accounts fintech
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banks and stuff like that versus the
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traditional big banks that pretty much
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always dominated the financial industry
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so tell me what you guys think about
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aspiration if you think this card is
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worth it and if you're somebody's really
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big into the social aspect of this and
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you know that it might be more worth it
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for you for some people i think some of
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the lack of resources that it has that
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you know banks or credit unions might
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have might be the turn off i mean some
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people hey they may just join just so
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you can get that 100 150
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um
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you know when they sign up and do all
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this kind of thing so i tell you guys
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think about this down below i'd like to
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hear what you guys have to say thanks
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for watching and until next time keep
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growing your money
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